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Post by Come_on_Grandad on Mar 1, 2014 17:07:24 GMT
Right, I've found out what is happening. <snip> Thanks for digging out the information Andrew, appreciated
However shouldn't really have taken the managing director's involvement/time to keep us informed, especially as there was an outstanding question to prompt the team. I presume somebody will answer the question now to let lenders not on this forum know the situation.
There seems now to be an improved flow of information on drawdown status through the loan information tab for the various auctions, and more attention to their Q&A. It is worthwhile visiting the R*****ch auction, number 53, to read today's update.
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Post by Lep Recorn on Mar 4, 2014 12:30:25 GMT
Lender Update 1st March
"If the charge is not paid into the trust account by close of business on Monday 3 March the loan is to be cancelled."
Well the 3rd has come and gone & no indication if the penalty charge has or has not been paid.
??
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Post by Come_on_Grandad on Mar 4, 2014 13:08:27 GMT
Lender Update 1st March "If the charge is not paid into the trust account by close of business on Monday 3 March the loan is to be cancelled." Well the 3rd has come and gone & no indication if the penalty charge has or has not been paid. ?? Today the explanation is given in the Q&A rather than on the Loan Information page. The borrower has indeed paid up to keep the loan alive.
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mikes1531
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Post by mikes1531 on Mar 4, 2014 17:52:53 GMT
Lender Update 1st March "If the charge is not paid into the trust account by close of business on Monday 3 March the loan is to be cancelled." Well the 3rd has come and gone & no indication if the penalty charge has or has not been paid. ?? Today the explanation is given in the Q&A rather than on the Loan Information page. The borrower has indeed paid up to keep the loan alive. AC need to decide whether they're going to put updates in the Q&A or in the LoanInfo area. It's a pain having to check both all the time, and the longer the list of loans gets, the more onerous the task. For that matter, it would be very useful if there was some way a flag could be put on the main 'Lend' page that would indicate which loans have had recent updates.
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j
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Penguins are very misunderstood!
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Post by j on Mar 4, 2014 18:10:23 GMT
Today the explanation is given in the Q&A rather than on the Loan Information page. The borrower has indeed paid up to keep the loan alive. AC need to decide whether they're going to put updates in the Q&A or in the LoanInfo area. It's a pain having to check both all the time, and the longer the list of loans gets, the more onerous the task. For that matter, it would be very useful if there was some way a flag could be put on the main 'Lend' page that would indicate which loans have had recent updates. ....or, we could have a separate 'updates' page in the main account menu which we can peruse as we want. It can simply have a headline of the auction name & number with the update 'date' that you can click on, which links to the relevant info on another page. Would AC consider such simplification to help us reduce the time to look for updates? I must agree with fellow lenders here too, I either spend time trawling through each loan separately, or rely on the goodwill we have here when fellow members post info on updates if I missed them but, it is startin to get too long on the tooth with the escalating number of auctions.
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bugs4me
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Post by bugs4me on Mar 4, 2014 18:17:39 GMT
AC need to decide whether they're going to put updates in the Q&A or in the LoanInfo area. It's a pain having to check both all the time, and the longer the list of loans gets, the more onerous the task. For that matter, it would be very useful if there was some way a flag could be put on the main 'Lend' page that would indicate which loans have had recent updates. ....or, we could have a separate 'updates' page in the main account menu which we can peruse as we want. It can simply have a headline of the auction name & number with the update 'date' that you can click on, which links to the relevant info on another page. Would AC consider such simplification to help us reduce the time to look for updates? I must agree with fellow lenders here too, I either spend time trawling through each loan separately, or rely on the goodwill we have here when fellow members post info on updates if I missed them but, it is startin to get too long on the tooth with the escalating number of auctions. My preference would be for a simple e-mail update to those that participated with any closed auction that goes past xx days drawdown.
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Post by chris on Mar 4, 2014 18:32:43 GMT
AC need to decide whether they're going to put updates in the Q&A or in the LoanInfo area. It's a pain having to check both all the time, and the longer the list of loans gets, the more onerous the task. For that matter, it would be very useful if there was some way a flag could be put on the main 'Lend' page that would indicate which loans have had recent updates. ....or, we could have a separate 'updates' page in the main account menu which we can peruse as we want. It can simply have a headline of the auction name & number with the update 'date' that you can click on, which links to the relevant info on another page. Would AC consider such simplification to help us reduce the time to look for updates? I must agree with fellow lenders here too, I either spend time trawling through each loan separately, or rely on the goodwill we have here when fellow members post info on updates if I missed them but, it is startin to get too long on the tooth with the escalating number of auctions. It's on it's way. We'll have an "events" or "history" tab which will contain a timeline of all comments, updates, and changes made to the loan.
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mikes1531
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Post by mikes1531 on Mar 4, 2014 21:44:07 GMT
....or, we could have a separate 'updates' page in the main account menu which we can peruse as we want. It can simply have a headline of the auction name & number with the update 'date' that you can click on, which links to the relevant info on another page. Would AC consider such simplification to help us reduce the time to look for updates? I must agree with fellow lenders here too, I either spend time trawling through each loan separately, or rely on the goodwill we have here when fellow members post info on updates if I missed them but, it is startin to get too long on the tooth with the escalating number of auctions. It's on it's way. We'll have an "events" or "history" tab which will contain a timeline of all comments, updates, and changes made to the loan. I may be misunderstanding chris's comment, but if the new tab is within each loan's page, then all that solves is the current question of whether to look for changes on the Q&A tab or the LoanInfo tab. The issue that's causing the problem for me is that I have Accepted Bids in a number of loans that haven't been drawn down, and that I'd have to go to each one of them regularly and then check the new Events/History tab to see if anything additional has been added since the last time I looked. So what would be very useful would be a single page that would list all the AC loans that have had an update since I looked at it last. While it would be nice if the system could keep notes on what I've seen and what I haven't -- in a similar way to this forum being able to identify postings I haven't seen already -- all that's really necessary would be an indicator of the date of the most recent comment, leaving the me to spot the ones that have a date later than my most recent visit. If the new tab also would show developments for loans that have drawn down already, then the need for some sort of master index of most recent comment dates is essential. I currently have loan units in 29 different loans, and I'm not about to go into each one of those regularly to check whether there have been any new entries on the new Events/History tab. Not to mention that the number of 29 is going to continue to grow as more AC loans are made and I reduce my exposure on my current loans and pick up parts of newer ones, in an effort to better diversify my AC investment.
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Post by chris on Mar 4, 2014 22:00:05 GMT
I may be misunderstanding chris's comment, but if the new tab is within each loan's page, then all that solves is the current question of whether to look for changes on the Q&A tab or the LoanInfo tab. The issue that's causing the problem for me is that I have Accepted Bids in a number of loans that haven't been drawn down, and that I'd have to go to each one of them regularly and then check the new Events/History tab to see if anything additional has been added since the last time I looked. So what would be very useful would be a single page that would list all the AC loans that have had an update since I looked at it last. While it would be nice if the system could keep notes on what I've seen and what I haven't -- in a similar way to this forum being able to identify postings I haven't seen already -- all that's really necessary would be an indicator of the date of the most recent comment, leaving the me to spot the ones that have a date later than my most recent visit. If the new tab also would show developments for loans that have drawn down already, then the need for some sort of master index of most recent comment dates is essential. I currently have loan units in 29 different loans, and I'm not about to go into each one of those regularly to check whether there have been any new entries on the new Events/History tab. Not to mention that the number of 29 is going to continue to grow as more AC loans are made and I reduce my exposure on my current loans and pick up parts of newer ones, in an effort to better diversify my AC investment. I agree and I'll try and include that functionality but I am worried about time constraints. We're running out of time before our lender event to finish off the functionality that I want to be presenting there, which then has a knock on effect to the rest of our schedule after the event. But I agree that communication is very important so will see what I can do.
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mikes1531
Member of DD Central
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Post by mikes1531 on Mar 5, 2014 16:31:12 GMT
I may be misunderstanding chris's comment, but if the new tab is within each loan's page, then all that solves is the current question of whether to look for changes on the Q&A tab or the LoanInfo tab. The issue that's causing the problem for me is that I have Accepted Bids in a number of loans that haven't been drawn down, and that I'd have to go to each one of them regularly and then check the new Events/History tab to see if anything additional has been added since the last time I looked. So what would be very useful would be a single page that would list all the AC loans that have had an update since I looked at it last. While it would be nice if the system could keep notes on what I've seen and what I haven't -- in a similar way to this forum being able to identify postings I haven't seen already -- all that's really necessary would be an indicator of the date of the most recent comment, leaving the me to spot the ones that have a date later than my most recent visit. If the new tab also would show developments for loans that have drawn down already, then the need for some sort of master index of most recent comment dates is essential. I currently have loan units in 29 different loans, and I'm not about to go into each one of those regularly to check whether there have been any new entries on the new Events/History tab. Not to mention that the number of 29 is going to continue to grow as more AC loans are made and I reduce my exposure on my current loans and pick up parts of newer ones, in an effort to better diversify my AC investment. I agree and I'll try and include that functionality but I am worried about time constraints. We're running out of time before our lender event to finish off the functionality that I want to be presenting there, which then has a knock on effect to the rest of our schedule after the event. But I agree that communication is very important so will see what I can do. I understand that there a limits to what can be accomplished before the upcoming event. As long as the issue is recognised and on the list of queued improvements, then I'm not too worried about timing -- as long as it doesn't take forever to be implemented. It's much better to release improvements in a measured manner than to rush them out before they have been tested properly.
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Post by Lep Recorn on Mar 14, 2014 17:01:18 GMT
Drawn down at last - closed on the 13th Dec drawn down on the 14th March - 91 days - is this a record??
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Post by Come_on_Grandad on Mar 14, 2014 17:42:14 GMT
Drawn down at last - closed on the 13th Dec drawn down on the 14th March - 91 days - is this a record?? My spreadsheet has Coventry at 92 days, and LTL1 at 93. And I'm not invested in every loan.
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mikes1531
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Post by mikes1531 on Mar 14, 2014 18:27:42 GMT
The underwriters probably are most grateful. They're still holding over £130k of this loan, so we can expect those loan parts to start appearing on the Aftermarket very soon.
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mikeb
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Post by mikeb on Mar 14, 2014 19:11:13 GMT
Some Redditch-shrapnel was on the market at about 16:05, not an underwriter, 6 x £20 parts ... <chomp> and then it was gone  I don't know who got the 1x£20 ... The underwriters haven't started offloading it yet. |
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Post by Ton ⓉⓞⓃ on Mar 14, 2014 23:08:36 GMT
Drawn down at last - closed on the 13th Dec drawn down on the 14th March - 91 days - is this a record?? My spreadsheet has Coventry at 92 days, and LTL1 at 93. And I'm not invested in every loan. I've not read any of the reports or info on any of the LTL but why does it take so long? They're all almost exactly 3 month waits. Is it simply inexperience of the borrower, what factors are causing this?
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I don't know who got the 1x£20 ...
