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Post by davidricketts1 on Apr 21, 2015 14:13:22 GMT
Drumrolls, fanfares, pigs - theyve fixed Ippy mikeb I had another go & (touch wood) it seems to have worked. Edit: After 6 months trying, it took 4 hours to get it sorted, full marks to whoever answered my Q and actually took note of what I said was wrong and got it fixed
You're welcome....
In all seriousness, thanks. Drawdown date is not something that shows up easily when looking at the behind the scenes data.
Given this loan was an extension it was drawn down by IT rather than me and am guessing that somebody just pressed 8 instead of 9 when putting the effective date in.
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Post by davidricketts1 on Apr 8, 2015 8:46:02 GMT
I want to be able to get a good deal flow going through Q2 with a view to launching the product to the crowd in H2. A Andrew, who or what is Q2 and H2? Too much time in banking for AH @caratacus.
Q2 = Quarter 2 (April - June) H2 = Half 2 (July - December)
Hope that helps.
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Post by davidricketts1 on Apr 2, 2015 10:37:20 GMT
Just need to add some extra code to ensure that the Last Updated Column appears when the loan book is exported via CSV.
I've asked Colin to have a look at this.
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Post by davidricketts1 on Apr 2, 2015 10:06:44 GMT
I see what has happened. It's not really an update column, more date of last question (which may or may not have been answered and which may or may not have been a useful question anyway). So still needs refinement to focus on AC's answers and the updates under the Overview tab. www.p2pindependentforum.com/post/44270/thread
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Post by davidricketts1 on Apr 2, 2015 10:00:03 GMT
All
For info the latest update could either be an update via Recent Activity, an answer to a Q&A, an update via the Drawdown tab or a new document uploaded.
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Post by davidricketts1 on Mar 30, 2015 7:15:07 GMT
All Repayments are up to date with these loans now. Updates undertaken on loan nos. 85 & 95 this morning as well. Whilst doing these I'd appreciate some feedback. Now I've got some help I'm managing to get to some of the stuff that was further down my list of priorities. One of these was providing lenders with the detail on covenant testing. I've uploaded a document to each of these loans (there are only two borrowers in question here so it's the same doc for each tranche of the loan) that covers the covenants in question for that borrower, what level of cover is being seen according to the latest financials provided and whether that is a "Pass" or a "Fail". Questions I have are: - Do the documents uploaded make sense? - Are they easy to follow? - Anything you can see to improve them? - Anything glaringly obvious missed off? Thanks in advance. David davidricketts1 What happens if a borrower covenant gets a "Fail". Do you treat it like a default and stop trading? A good question sqh but not one that has a simple answer.
All depends on the level of the breach. A slight breach would probably result in AC taking a viewing and agreeing to waive the breach (i.e. missing an Asset Cover covenant pass by 0.03x) but something more serious (along the lines of the WT) would probably result in us asking lenders to vote on potential ways forward.
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Post by davidricketts1 on Mar 25, 2015 12:07:03 GMT
Update on loans 104, 107, 108, 109 & 111 plus some new docs.
Repayments have also been chased and expect to have these tomorrow. All Repayments are up to date with these loans now. Updates undertaken on loan nos. 85 & 95 this morning as well. Whilst doing these I'd appreciate some feedback. Now I've got some help I'm managing to get to some of the stuff that was further down my list of priorities. One of these was providing lenders with the detail on covenant testing. I've uploaded a document to each of these loans (there are only two borrowers in question here so it's the same doc for each tranche of the loan) that covers the covenants in question for that borrower, what level of cover is being seen according to the latest financials provided and whether that is a "Pass" or a "Fail". Questions I have are: - Do the documents uploaded make sense? - Are they easy to follow? - Anything you can see to improve them? - Anything glaringly obvious missed off? Thanks in advance. David
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Post by davidricketts1 on Mar 23, 2015 16:22:16 GMT
Update on loans 104, 107, 108, 109 & 111 plus some new docs.
Repayments have also been chased and expect to have these tomorrow.
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Post by davidricketts1 on Mar 23, 2015 16:20:47 GMT
Hmm, so the accrued interest is therefore wrong as they havent repaid the capital they should be paying interest on the old amount not the reduced amount, otherwise investors will potentially be losing out as they could have reinvested those funds in other loans. Capital has now been paid and according to their response on the Q&A accrued interest should have been adjusted to reflect the delay. mikeb as your records are probably more accurate than my maths are you able to verify this? Mine doesnt appear to have changed but thats just from memory which these days has a close affinity with that of a goldfish All
The advice I got was that providing I moved the due date of the repayment to today (which I did) then the system would automatically update the accrued interest.
This may take overnight to take effect.....
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Post by davidricketts1 on Mar 19, 2015 11:48:21 GMT
See the answer to the latest Q&A for a clarification of what they are saying.
I wish I could say that I hadn't seen it before but.....
Apologies for the lack of updates in this thread whilst I try to get the updates up to date.
It has become easier now there is another me helping me!!!
You lucky ***, have you gained a minion?
Not quite.
Martin is working alongside me doing the same role.
Comes from the same background as me.
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Post by davidricketts1 on Mar 18, 2015 17:16:55 GMT
GTT2 #35 updated Recent Activity. Astonishing behaviour. Denying signing a PG!! I'm not in this one!
See the answer to the latest Q&A for a clarification of what they are saying.
I wish I could say that I hadn't seen it before but.....
Apologies for the lack of updates in this thread whilst I try to get the updates up to date.
It has become easier now there is another me helping me!!!
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Post by davidricketts1 on Feb 25, 2015 12:03:42 GMT
Update on loan 120.
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Post by davidricketts1 on Feb 25, 2015 9:59:40 GMT
Update on loan 56.
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Post by davidricketts1 on Feb 25, 2015 8:52:18 GMT
All
I've not forgotten about putting the updates on here. However, I've made the mistake of booking a few days off from this Thursday evening and have subsequently discovered I seem to have a lot to do before then!
There should hopefully be an update on the plumber before I go away (I saw the first draft last night).
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Post by davidricketts1 on Feb 20, 2015 16:58:51 GMT
All Just to clarify the position for Stuart. mikes1531 is correct in that the LTV (based upon valuation at drawdown and capital outstanding) is just north of 70%. Confusion lies here in that although interest retained upfront it is actually included within the capital amount as it needed to be lent to be retained in this case. This is quite normal in bridging loans although some borrowers will fund the interest themselves.
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