bg
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Post by bg on May 15, 2020 8:03:17 GMT
Right , ok. Thanks a lot. I keep trying to get information from AC but I haven't been getting any response from them. There is also this information - Lender/Borrower Rate 8.50% / 9.90%. What is this exactly referring too? Is the 9.90% annual return when purchasing loan at the actual Best Rate ? I'm trying to move some of my funds into AC but their UI is just one big jigsaw. Compering to MT, Ly, ABl, FS or even Coll, AC creates such a headache, not even mentioning their calculation that looks bit like this 1.2000000000000000000444560000067000. I mean how the .... we supposed to .... . It can't even fit into my excel on 12" laptop. The lender rate is the gross rate you will receive while the borrower rate is the rate the borrower pays. So in your example the difference is 1.4% which is in effect AC's profit. The site is a new version and they are after feedback, I agree its very confusing for new users. A few people (with deep pockets) I have shown the site to have been put off by the apparent complexity but in reality its pretty simple to use the manual account when you know what you are doing. chris prob even more important to get feedback from new users like k6 as it is from established users....otherwise new users won't persevere.
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bg
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Post by bg on May 15, 2020 7:33:05 GMT
Would mind please someone clarify if Im being correct. While purchasing part of a loan on SM at Best Rate lets say -5 with initial amount 100 is it 100 - 5% ( am I holding a 100 of loan but just paid 95 ) And if best rate is -5 but I have set up instruction for Buy at -6 , do Sellers see this or am I just there setting and waiting that perhaps someone will place a sell with Best Rate -6 and then the system will much ? Thanks I believe that the amount you enter is the amount you will try to buy. So in your example you would end up with £100 of a loan with a par value of £105.26. Noone can see any of the bids so no, sellers would not see your -6 bid. You just have to wait and see if anyone decides to sell at this level.
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bg
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Post by bg on May 15, 2020 6:50:54 GMT
Loan # | Events | Last P | First L | Next P | Amount | LTV | Rate | Term | Available | Discounted | Best Rate | Best Amt | Drew | 934 | ML | 12-Mar-20 | 11-Apr-20 | 11-May-20 | 750,000 | 56.8 | 5 | 46 of 60 | 537,016 | 40,554 | -6.5 | 3,272 | 12/Feb/19 | 1021 | ML | 10-Mar-20 | 09-Apr-20 | 09-May-20 | 1,295,000 | 70 | 8 | 50 of 60 | 350,409 | 96,743 | -6.5 | 50 | 10/May/19 | 729 | M | 15-Apr-20 | | 29-Apr-20 | 1,850,000 | 56.1 | 8 | 1 of 24 | 200,416 | 7,637 | -6 | 3,641 | 16/May/18 | 791 | ML | 04-Jan-20 | 16-Mar-20 | 14-May-20 | 1,894,692 | 65.4 | 8.5 | 1 of 22 | 584,461 | 54,663 | -6 | 4,996 | 31/Jul/18 | 932 | M | 12-Apr-20 | | 12-May-20 | 430,000 | 64.7 | 5 | 45 of 60 | 242,557 | 4,249 | -6 | 6,171 | 13/Feb/19 | 930 | M | 11-Apr-20 | | 11-May-20 | 228,750 | 75 | 5.5 | 45 of 60 | 153,118 | 1,830 | -5.5 | 596 | 12/Feb/19 | 1005 | M | 29-Mar-20 | | 28-Apr-20 | 315,000 | 70 | 7 | 49 of 60 | 251,515 | 3,185 | -5.5 | 297 | 29/Apr/19 | 1084 | M | 22-Mar-20 | | 21-Apr-20 | 1,928,901 | 67.7 | 8.5 | 15 of 25 | 337,370 | 29,854 | -5.5 | 300 | 19/Jul/19 | 464 | M | 04-Apr-20 | | 04-May-20 | 2,800,000 | 67.8 | 8.5 | 24 of 60 | 408,215 | 73,520 | -5 | 7,217 | 5/May/17 | 766 | ML | 09-Mar-20 | 08-Apr-20 | 08-May-20 | 255,000 | 70.8 | 7 | 40 of 60 | 32,138 | 4,181 | -5 | 8,065 | 9/Jul/18 | 788 | M | 29-Mar-20 | | 29-Apr-20 | 300,000 | 69.1 | 6 | 39 of 60 | 255,925 | 8,459 | -5 | 398 | 30/Jul/18 | 819 | M | 05-Apr-20 | | 05-May-20 | 300,000 | 60 | 7 | 43 of 63 | 46,785 | 1,748 | -5 | - | 6/Sep/18 | 935 | ML | 18-Mar-20 | 17-Apr-20 | 17-May-20 | 438,000 | 54.8 | 5 | 46 of 60 | 262,333 | 15,291 | -5 | 1,935 | 18/Feb/19 | 981 | M | 31-Mar-20 | | 01-May-20 | 869,166 | 56.7 | 7 | 11 of 25 | 154,299 | 11,291 | -5 | 2,540 | 29/Mar/19 | 974 | ML | 03-Mar-20 | 02-Apr-20 | 02-May-20 | 211,076 | 69.3 | 6 | 50 of 63 | 175,678 | 1,732 | -5 | 2,032 | 3/Apr/19 | 994 | M | 14-Apr-20 | | 15-May-20 | 2,080,137 | 67.4 | 8.5 | 6 of 19 | 304,550 | 75,947 | -5 | 14,557 | 10/Apr/19 | 1128 | M | 12-Apr-20 | | 12-May-20 | 2,144,929 | 70 | 8 | 13 of 21 | 315,688 | 5,478 | -5 | 76 | 10/Sep/19 | 828 | M | 03-Mar-20 | | 02-May-20 | 2,605,617 | 64 | 8 | 4 of 23 | 290,884 | 115,761 | -4.5 | 38,621 | 25/Sep/18 | 1055 | M | 28-Mar-20 | | 27-Apr-20 | 3,629,042 | 70 | 8.5 | 5 of 16 | 158,131 | 13,599 | -4.5 | 67 | 24/Jun/19 | 1088 | M | 02-Apr-20 | | 03-May-20 | 3,871,946 | 67.5 | 8.5 | 9 of 19 | 339,079 | 7,644 | -4.5 | 200 | 30/Jul/19 | 1109 | M | 19-Apr-20 | | 19-May-20 | 739,292 | 70 | 8.5 | 10 of 18 | 119,168 | 13,500 | -4.5 | 400 | 20/Aug/19 | 778 | ML | 20-Jun-19 | 30-Aug-19 | 06-May-20 | 722,540 | 62.2 | 8 | 1 of 23 | 62,133 | 2,608 | -4 | 1,558 | 18/Jul/18 | 800 | M | 21-Mar-20 | | 20-May-20 | 770,000 | 70 | 8 | 40 of 60 | 107,122 | 2,667 | -4 | 301 | 21/Aug/18 | 848 | M | 20-Mar-20 | | 26-Apr-20 | 6,983,621 | 67 | 10 | 2 of 20 | 566,775 | 43,836 | -4 | 44 | 25/Oct/18 | 949 | M | 03-Apr-20 | | 03-May-20 | 355,000 | 64 | 5.5 | 46 of 60 | 211,031 | 4,511 | -4 | 87 | 4/Mar/19 | 962 | M | 27-Mar-20 | | 25-Apr-20 | 611,312 | 58 | 7 | 5 of 18 | 128,890 | 4,518 | -4 | 796 | 21/Mar/19 | 1051 | M | 22-Mar-20 | | 21-Apr-20 | 1,034,316 | 65.7 | 7.5 | 8 of 18 | 34,707 | 5,160 | -4 | 2,489 | 21/Jun/19 | 1078 | ML | 11-Feb-20 | 11-Mar-20 | 10-May-20 | 615,957 | 62 | 6 | 53 of 63 | 385,034 | 384 | -4 | - | 11/Jul/19 | 1201 | M | 04-Apr-20 | | 03-May-20 | 496,593 | 62.4 | 7 | 13 of 18 | 5,004 | 2,513 | -4 | 1,267 | 3/Dec/19 |
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bg
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Post by bg on May 14, 2020 9:30:39 GMT
Loan # | Events | Last P | First L | Next P | Amount | LTV | Rate | Term | Available | Discounted | Best Rate | Best Amt | Drew | 932 | M | 12-Apr-20 | | 12-May-20 | 430,000 | 64.7 | 5 | 46 of 60 | 246,795 | 6,363 | -8 | 10,163 | 13/Feb/19 | 934 | ML | 12-Mar-20 | 11-Apr-20 | 11-May-20 | 750,000 | 56.8 | 5 | 46 of 60 | 537,235 | 40,719 | -6.5 | 3,491 | 12/Feb/19 | 729 | M | 15-Apr-20 | | 29-Apr-20 | 1,850,000 | 56.1 | 8 | 1 of 24 | 200,416 | 7,637 | -6 | 3,641 | 16/May/18 | 1021 | ML | 10-Mar-20 | 09-Apr-20 | 09-May-20 | 1,295,000 | 70 | 8 | 50 of 60 | 349,536 | 96,693 | -6 | 7,623 | 10/May/19 | 791 | ML | 04-Jan-20 | 16-Mar-20 | 14-May-20 | 1,894,692 | 65.4 | 8.5 | 1 of 22 | 584,347 | 54,665 | -5.5 | 41,117 | 31/Jul/18 | 930 | M | 11-Apr-20 | | 11-May-20 | 228,750 | 75 | 5.5 | 45 of 60 | 153,277 | 1,955 | -5.5 | 756 | 12/Feb/19 | 1005 | M | 29-Mar-20 | | 28-Apr-20 | 315,000 | 70 | 7 | 49 of 60 | 251,705 | 3,375 | -5.5 | 487 | 29/Apr/19 | 766 | ML | 09-Mar-20 | 08-Apr-20 | 08-May-20 | 255,000 | 70.8 | 7 | 40 of 60 | 32,178 | 4,175 | -5 | 4,000 | 9/Jul/18 | 788 | M | 29-Mar-20 | | 29-Apr-20 | 300,000 | 69.1 | 6 | 39 of 60 | 255,925 | 8,459 | -5 | 398 | 30/Jul/18 | 819 | M | 05-Apr-20 | | 05-May-20 | 300,000 | 60 | 7 | 43 of 63 | 46,707 | 1,748 | -5 | - | 6/Sep/18 | 935 | ML | 18-Mar-20 | 17-Apr-20 | 17-May-20 | 438,000 | 54.8 | 5 | 46 of 60 | 262,607 | 15,565 | -5 | 2,209 | 18/Feb/19 | 981 | M | 31-Mar-20 | | 01-May-20 | 869,166 | 56.7 | 7 | 11 of 25 | 154,299 | 11,291 | -5 | 2,540 | 29/Mar/19 | 974 | ML | 03-Mar-20 | 02-Apr-20 | 02-May-20 | 211,076 | 69.3 | 6 | 50 of 63 | 175,698 | 1,742 | -5 | 2,052 | 3/Apr/19 | 1084 | M | 22-Mar-20 | | 21-Apr-20 | 1,928,901 | 67.7 | 8.5 | 16 of 25 | 337,419 | 29,606 | -5 | 20,408 | 19/Jul/19 | 464 | M | 04-Apr-20 | | 04-May-20 | 2,800,000 | 67.8 | 8.5 | 24 of 60 | 407,228 | 73,583 | -4.5 | 56,640 | 5/May/17 | 828 | M | 03-Mar-20 | | 02-May-20 | 2,605,617 | 64 | 8 | 4 of 23 | 291,731 | 116,575 | -4.5 | 38,621 | 25/Sep/18 | 994 | M | 14-Apr-20 | | 15-May-20 | 2,080,137 | 67.4 | 8.5 | 6 of 19 | 304,592 | 76,002 | -4.5 | 48,417 | 10/Apr/19 | 1128 | M | 12-Apr-20 | | 12-May-20 | 2,144,929 | 70 | 8 | 13 of 21 | 315,865 | 5,618 | -4.5 | 326 | 10/Sep/19 | 432 | ML | 15-Mar-20 | 14-Apr-20 | 14-May-20 | 221,000 | 63.7 | 8 | 24 of 60 | 34,620 | 511 | -4 | 1 | 15/Mar/17 | 962 | M | 27-Mar-20 | | 25-Apr-20 | 611,312 | 58 | 7 | 5 of 18 | 128,889 | 4,518 | -4 | 796 | 21/Mar/19 | 1051 | M | 22-Mar-20 | | 21-Apr-20 | 1,034,316 | 65.7 | 7.5 | 8 of 18 | 34,754 | 5,213 | -4 | 2,542 | 21/Jun/19 | 1055 | M | 28-Mar-20 | | 27-Apr-20 | 3,629,042 | 70 | 8.5 | 5 of 16 | 158,241 | 13,647 | -4 | 6,699 | 24/Jun/19 | 1078 | ML | 11-Feb-20 | 11-Mar-20 | 10-May-20 | 615,957 | 62 | 6 | 53 of 63 | 385,034 | 384 | -4 | - | 11/Jul/19 | 1088 | M | 02-Apr-20 | | 03-May-20 | 3,733,524 | 67.5 | 8.5 | 9 of 19 | 339,405 | 7,792 | -4 | 7,003 | 30/Jul/19 | 1109 | M | 19-Apr-20 | | 19-May-20 | 739,292 | 70 | 8.5 | 10 of 18 | 119,190 | 13,122 | -4 | 8,014 | 20/Aug/19 | 1122 | M | 31-Mar-20 | | 01-May-20 | 1,706,227 | 61 | 8.5 | 7 of 15 | 313,471 | 8,457 | -4 | 2,996 | 5/Sep/19 | 1201 | M | 04-Apr-20 | | 03-May-20 | 496,593 | 62.4 | 7 | 13 of 18 | 4,495 | 1,899 | -4 | 758 | 3/Dec/19 |
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bg
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Post by bg on May 13, 2020 10:13:10 GMT
now 4%+ Loan # | Events | Last P | First L | Next P | Amount | LTV | Rate | Term | Available | Discounted | Best Rate | Best Amt | Drew | 934 | M | 12-Apr-20 |
| 11-May-20 | 750,000 | 56.8 | 5 | 46 of 60 | 553,520 | 57,004 | -8 | 16,285 | 12/Feb/19 | 932 | M | 12-Apr-20 | | 12-May-20 | 430,000 | 64.7 | 5 | 46 of 60 | 248,181 | 12,619 | -8 | 8,739 | 13/Feb/19 | 729 | M | 15-Apr-20 | | 29-Apr-20 | 1,850,000 | 56.1 | 8 | 1 of 24 | 200,416 | 7,637 | -6 | 3,641 | 16/May/18 | 791 | ML | 04-Jan-20 | 16-Mar-20 | 14-May-20 | 1,894,692 | 65.4 | 8.5 | 1 of 22 | 589,578 | 59,019 | -6 | 2,757 | 31/Jul/18 | 1021 | ML | 10-Mar-20 | 09-Apr-20 | 09-May-20 | 1,295,000 | 70 | 8 | 50 of 60 | 349,327 | 97,805 | -6 | 8,735 | 10/May/19 | 930 | M | 11-Apr-20 | | 11-May-20 | 228,750 | 75 | 5.5 | 46 of 60 | 158,856 | 4,916 | -5.5 | 3,391 | 12/Feb/19 | 1005 | M | 29-Mar-20 | | 28-Apr-20 | 315,000 | 70 | 7 | 49 of 60 | 251,705 | 3,375 | -5.5 | 487 | 29/Apr/19 | 464 | M | 04-Apr-20 | | 04-May-20 | 2,800,000 | 67.8 | 8.5 | 24 of 60 | 407,285 | 73,735 | -5 | 124 | 5/May/17 | 788 | M | 29-Mar-20 | | 29-Apr-20 | 300,000 | 69.1 | 6 | 39 of 60 | 255,925 | 8,459 | -5 | 398 | 30/Jul/18 | 819 | M | 05-Apr-20 | | 05-May-20 | 300,000 | 60 | 7 | 43 of 63 | 46,714 | 1,748 | -5 | - | 6/Sep/18 | 828 | M | 03-Mar-20 | | 02-May-20 | 2,605,617 | 64 | 8 | 4 of 23 | 293,369 | 118,215 | -5 | 94 | 25/Sep/18 | 902 | M | 24-Mar-20 | | 22-Apr-20 | 1,670,000 | 45.1 | 6.2 | 44 of 61 | 31,867 | 1,372 | -5 | - | 21/Dec/18 | 931 | M | 10-Apr-20 | | 10-May-20 | 1,800,000 | 58.3 | 7 | 45 of 60 | 334,515 | 6,224 | -5 | 313 | 11/Feb/19 | 935 | ML | 18-Mar-20 | 17-Apr-20 | 17-May-20 | 438,000 | 54.8 | 5 | 46 of 60 | 262,374 | 15,332 | -5 | 1,976 | 18/Feb/19 | 981 | M | 31-Mar-20 | | 01-May-20 | 869,166 | 56.7 | 7 | 11 of 25 | 154,299 | 11,291 | -5 | 2,540 | 29/Mar/19 | 974 | ML | 03-Mar-20 | 02-Apr-20 | 02-May-20 | 211,076 | 69.3 | 6 | 50 of 63 | 175,698 | 1,718 | -5 | 1,053 | 3/Apr/19 | 1084 | M | 22-Mar-20 | | 21-Apr-20 | 1,928,901 | 67.7 | 8.5 | 16 of 25 | 337,656 | 29,854 | -5 | 20,655 | 19/Jul/19 | 1128 | M | 12-Apr-20 | | 12-May-20 | 2,103,572 | 70 | 8 | 13 of 21 | 316,017 | 5,802 | -5 | 399 | 10/Sep/19 | 1185 | M | 17-Apr-20 | | 17-May-20 | 350,000 | 50 | 6 | 55 of 60 | 229,407 | 663 | -5 | - | 18/Nov/19 | 766 | ML | 09-Mar-20 | 08-Apr-20 | 08-May-20 | 255,000 | 70.8 | 7 | 40 of 60 | 32,123 | 4,184 | -4.5 | 4,139 | 9/Jul/18 | 994 | M | 14-Apr-20 | | 15-May-20 | 2,080,137 | 67.4 | 8.5 | 6 of 19 | 304,555 | 76,002 | -4.5 | 48,417 | 10/Apr/19 | 1055 | M | 28-Mar-20 | | 27-Apr-20 | 3,503,599 | 70 | 8.5 | 5 of 16 | 158,720 | 14,041 | -4.5 | 237 | 24/Jun/19 | 962 | M | 27-Mar-20 | | 25-Apr-20 | 611,312 | 58 | 7 | 5 of 18 | 128,857 | 4,518 | -4 | 796 | 21/Mar/19 | 1051 | M | 22-Mar-20 | | 21-Apr-20 | 1,034,316 | 65.7 | 7.5 | 8 of 18 | 34,748 | 5,236 | -4 | 2,565 | 21/Jun/19 | 1078 | ML | 11-Feb-20 | 11-Mar-20 | 10-May-20 | 601,500 | 62 | 6 | 53 of 63 | 385,034 | 384 | -4 | - | 11/Jul/19 | 1088 | M | 02-Apr-20 | | 03-May-20 | 3,733,524 | 67.5 | 8.5 | 9 of 19 | 339,301 | 7,825 | -4 | 7,036 | 30/Jul/19 | 1101 | ML | 09-Mar-20 | 08-Apr-20 | 08-May-20 | 375,000 | 75 | 7 | 54 of 63 | 219,852 | 1,567 | -4 | - | 9/Aug/19 | 1109 | M | 19-Apr-20 | | 19-May-20 | 739,292 | 70 | 8.5 | 10 of 18 | 120,237 | 14,169 | -4 | 9,061 | 20/Aug/19 | 1122 | M | 31-Mar-20 | | 01-May-20 | 1,706,227 | 61 | 8.5 | 7 of 15 | 314,510 | 9,499 | -4 | 4,038 | 5/Sep/19 | 1201 | M | 04-Apr-20 | | 03-May-20 | 496,593 | 62.4 | 7 | 13 of 18 | 5,003 | 1,906 | -4 | 766 | 3/Dec/19 | 1217 | M | 20-Mar-20 | | 19-May-20 | 1,150,000 | 54.8 | 7.2 | 57 of 60 | 254,137 | 4,831 | -4 | 137 | 20/Dec/19 |
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bg
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Post by bg on May 12, 2020 6:44:43 GMT
5%+ Loan # | Events | Last P | First L | Next P | Amount | LTV | Rate | Term | Available | Discounted | Best Rate | Best Amt | Drew | 934 | ML | 12-Mar-20 | 11-Apr-20 | 11-May-20 | 750,000 | 56.8 | 5 | 46 of 60 | 537,246 | 40,625 | -6.5 | 1,873 | 12/Feb/19 | 932 | M | 12-Apr-20 | | 12-May-20 | 430,000 | 64.7 | 5 | 46 of 60 | 241,871 | 3,781 | -6.5 | 3,133 | 13/Feb/19 | 729 | M | 15-Apr-20 | | 29-Apr-20 | 1,850,000 | 56.1 | 8 | 1 of 24 | 200,416 | 7,637 | -6 | 3,641 | 16/May/18 | 791 | ML | 04-Jan-20 | 16-Mar-20 | 14-May-20 | 1,894,692 | 65.4 | 8.5 | 1 of 22 | 589,851 | 59,407 | -6 | 3,146 | 31/Jul/18 | 974 | ML | 03-Mar-20 | 02-Apr-20 | 02-May-20 | 208,000 | 69.3 | 6 | 50 of 63 | 176,505 | 1,824 | -6 | 1,809 | 3/Apr/19 | 1021 | ML | 10-Mar-20 | 09-Apr-20 | 09-May-20 | 1,295,000 | 70 | 8 | 50 of 60 | 352,897 | 101,847 | -6 | 12,778 | 10/May/19 | 930 | M | 11-Apr-20 | | 11-May-20 | 228,750 | 75 | 5.5 | 46 of 60 | 158,869 | 4,925 | -5.5 | 3,399 | 12/Feb/19 | 935 | ML | 18-Mar-20 | 17-Apr-20 | 17-May-20 | 438,000 | 54.8 | 5 | 46 of 60 | 263,291 | 15,708 | -5.5 | 3,707 | 18/Feb/19 | 1005 | M | 29-Mar-20 | | 28-Apr-20 | 315,000 | 70 | 7 | 49 of 60 | 251,749 | 3,420 | -5.5 | 532 | 29/Apr/19 | 1128 | M | 12-Apr-20 | | 12-May-20 | 2,103,572 | 70 | 8 | 13 of 21 | 316,535 | 6,465 | -5.5 | 609 | 10/Sep/19 | 677 | ML | 27-Feb-20 | 27-Mar-20 | 26-Apr-20 | 238,000 | 70 | 7 | 37 of 60 | 76,092 | 4,550 | -5 | 78 | 27/Mar/18 | 766 | ML | 09-Mar-20 | 08-Apr-20 | 08-May-20 | 255,000 | 70.8 | 7 | 40 of 60 | 32,302 | 4,376 | -5 | - | 9/Jul/18 | 788 | M | 29-Mar-20 | | 29-Apr-20 | 300,000 | 69.1 | 6 | 39 of 60 | 255,925 | 8,459 | -5 | 398 | 30/Jul/18 | 800 | M | 21-Mar-20 | | 20-May-20 | 770,000 | 70 | 8 | 40 of 60 | 105,900 | 2,299 | -5 | 166 | 21/Aug/18 | 819 | M | 05-Apr-20 | | 05-May-20 | 300,000 | 60 | 7 | 43 of 63 | 46,565 | 1,748 | -5 | - | 6/Sep/18 | 828 | M | 03-Mar-20 | | 02-May-20 | 2,605,617 | 64 | 8 | 4 of 23 | 293,254 | 118,268 | -5 | 146 | 25/Sep/18 | 858 | M | 07-Apr-20 | | 07-May-20 | 350,000 | 73.7 | 7 | 42 of 60 | 209,893 | 318 | -5 | - | 8/Nov/18 | 864 | M | 20-Apr-20 | | 21-May-20 | 3,208,232 | 65.9 | 8 | 4 of 21 | 251,454 | 32,082 | -5 | 200 | 16/Nov/18 | 981 | M | 31-Mar-20 | | 01-May-20 | 869,166 | 56.7 | 7 | 11 of 25 | 154,125 | 11,145 | -5 | 1,034 | 29/Mar/19 | 1084 | M | 22-Mar-20 | | 21-Apr-20 | 1,928,901 | 67.7 | 8.5 | 16 of 25 | 338,643 | 30,831 | -5 | 21,632 | 19/Jul/19 | 1101 | ML | 09-Mar-20 | 08-Apr-20 | 08-May-20 | 375,000 | 75 | 7 | 54 of 63 | 220,048 | 1,763 | -5 | 100 | 9/Aug/19 | 1185 | M | 17-Apr-20 | | 17-May-20 | 350,000 | 50 | 6 | 55 of 60 | 229,407 | 663 | -5 | - | 18/Nov/19 |
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bg
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Post by bg on May 8, 2020 9:16:16 GMT
Just wondering whether there's been any notable impact of AC gaining CBILs approval to the amounts on the SM. A quick scan provides the following (rounded): Discount £££ Available At Par 82,560k >0, <= 5% 840k >5, <=10% 272k >10% 32k
Discounts of 5% or more is c. £300k which is down on bg 's last post from the 8th of April, but doubt there's sufficient data to draw any conclusions from just those two snapshots. Any insights, bg ? It seems the main impact has been a big reduction in the level of the discounts offered (the amount for sale at a discounted has roughly halved since mid April but most of this fall occurred before the announcement) which is to be expected. A substantial proportion of AC's loans are development loans and the CBILs announcement has seemingly removed the big risk that was hanging over them - that AC couldn't fund future contracted tranches. On the back of this, discounted sales of development loans have either repriced or been bought. All double digit discounts have gone, just a few remain discounted around the 5-6% mark (and these are mainly loans that have a maturity date in the next few weeks). Just as importantly a huge shadow over the platform has been lifted. Funding of future dev loan tranches was by far my biggest concern, this fear has now gone and AC also has the potential for a secure income stream that should see it go from strength to strength. I would imagine institutional investors would be queuing up for these loans given much of their downside will now be borne by the government. I also expect this new line of fee income will enable AC to remove the lender fee which they should be keen to do as soon as possible to further boost sentiment. This is also great news for investors in the Access accounts. Once the CBIL loans come online it means that while there is still an excessive withdrawal demand all capital repayments can be used to repay capital instead of being held back to fund future commitments. The discounts offered once secondary market trading of these accounts commences will be significantly lower than had it commenced before this announcement. I think there will be plenty happy to pounce if people panic and sell at a silly level. Also this should be a good boost to liquidity. Some people may be happy to sell their QAA holding at a small discount to buy on the MLA at a bigger discount, while others may be happy to sell popular loans in the MLA at par to recycle into the QAA at a discount. All of this is beneficial, will help the platform and should see discounts narrow further. You can see the impact on loans offered at 5% discounts or above if you compare to the last list I posted:- Loan # | Events | Last P | First L | Next P | Amount | LTV | Rate | Term | Available | Discounted | Best Rate | Best Amt | Drew | 974 | ML | 03-Mar-20 | 02-Apr-20 | 02-May-20 | 208,000 | 69.3 | 6 | 49 of 60 | 175,387 | 406 | -7 | 47 | 3/Apr/19 | 934 | ML | 12-Mar-20 | 11-Apr-20 | 11-May-20 | 750,000 | 56.8 | 5 | 46 of 60 | 538,413 | 41,272 | -6.5 | 2,482 | 12/Feb/19 | 932 | M | 12-Apr-20 | | 12-May-20 | 430,000 | 64.7 | 5 | 46 of 60 | 243,611 | 5,013 | -6.5 | 3,775 | 13/Feb/19 | 464 | M | 04-Apr-20 | | 04-May-20 | 2,800,000 | 67.8 | 8.5 | 24 of 60 | 400,832 | 74,988 | -6 | 188 | 5/May/17 | 729 | M | 15-Apr-20 | | 29-Apr-20 | 1,850,000 | 56.1 | 8 | 1 of 24 | 200,416 | 7,637 | -6 | 3,641 | 16/May/18 | 791 | ML | 04-Jan-20 | 16-Mar-20 | 14-May-20 | 1,894,692 | 65.4 | 8.5 | 1 of 22 | 588,162 | 52,729 | -6 | 356 | 31/Jul/18 | 1021 | ML | 10-Mar-20 | 09-Apr-20 | 09-May-20 | 1,295,000 | 70 | 8 | 50 of 60 | 339,693 | 89,087 | -6 | 17 | 10/May/19 | 682 | M | 29-Mar-20 | | 28-Apr-20 | 700,000 | 43.6 | 7 | 35 of 60 | 93,624 | 6,398 | -5.5 | 19 | 29/Mar/18 | 871 | M | 28-Mar-20 | | 27-Apr-20 | 1,621,434 | 64 | 8 | 7 of 25 | 190,649 | 7,695 | -5.5 | - | 23/Nov/18 | 930 | M | 11-Apr-20 | | 11-May-20 | 228,750 | 75 | 5.5 | 46 of 60 | 159,045 | 5,025 | -5.5 | 3,498 | 12/Feb/19 | 935 | ML | 18-Mar-20 | 17-Apr-20 | 17-May-20 | 438,000 | 54.8 | 5 | 46 of 60 | 261,417 | 13,800 | -5.5 | 3,775 | 18/Feb/19 | 981 | M | 31-Mar-20 | | 01-May-20 | 869,166 | 56.7 | 7 | 11 of 25 | 153,100 | 10,004 | -5.5 | 200 | 29/Mar/19 | 1005 | M | 29-Mar-20 | | 28-Apr-20 | 315,000 | 70 | 7 | 49 of 60 | 251,564 | 3,235 | -5.5 | 533 | 29/Apr/19 | 1128 | M | 12-Apr-20 | | 12-May-20 | 2,103,572 | 70 | 8 | 13 of 21 | 316,090 | 6,254 | -5.5 | 641 | 10/Sep/19 | 566 | M | 30-Mar-20 | | 29-Apr-20 | 234,375 | 74.4 | 7.5 | 31 of 60 | 54,622 | 666 | -5 | 44 | 31/Oct/17 | 800 | M | 21-Mar-20 | | 20-May-20 | 770,000 | 70 | 8 | 40 of 60 | 105,650 | 2,352 | -5 | 192 | 21/Aug/18 | 833 | M | 16-Mar-20 | | 16-May-20 | 1,168,877 | 68.5 | 8 | 6 of 25 | 68,140 | 1,789 | -5 | 470 | 9/Oct/18 | 844 | M | 28-Mar-20 | | 27-Apr-20 | 1,627,726 | 66.7 | 8 | 3 of 21 | 88,124 | 25,626 | -5 | 66 | 22/Oct/18 | 864 | M | 20-Apr-20 | | 21-May-20 | 3,105,065 | 65.9 | 8 | 4 of 21 | 250,542 | 27,189 | -5 | 407 | 16/Nov/18 | 1084 | M | 22-Mar-20 | | 21-Apr-20 | 1,928,901 | 67.7 | 8.5 | 16 of 25 | 333,568 | 25,757 | -5 | 14,473 | 19/Jul/19 | 1101 | ML | 09-Mar-20 | 08-Apr-20 | 08-May-20 | 375,000 | 75 | 7 | 53 of 60 | 220,048 | 1,763 | -5 | 100 | 9/Aug/19 | 1121 | M | 04-Apr-20 | | 04-May-20 | 850,000 | 65.4 | 6.8 | 52 of 60 | 343,545 | 2,834 | -5 | 292 | 5/Sep/19 | 1171 | M | 01-Apr-20 | | 02-May-20 | 3,270,056 | 70.4 | 8 | 4 of 10 | 263,326 | 1,819 | -5 | 259 | 31/Oct/19 |
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bg
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Post by bg on Apr 13, 2020 10:16:34 GMT
No they didn't. They stated that under normal market you should be able to access your money but that it isn't guaranteed. Conditions are not normal so we have defaulted back to the situation where you own a basked of peer to peer loans which is what the underlying investment is. No that certainly isn't right. You appear to own a basket of p2p loans but when one of your loans in that basket repays the money is taken away from you and given to other investors. Thats how the small investor bailout works. Obviously it should be working as you describe, but AC decided to change the rules. This discussion has gone from me trying to explain that capital redemption's do not cause the balance of the Access accounts to increase, to you accusing me of twisting statistics and now onto your usual complaint that has been repeated a million times now. There is nothing of any interest or use on this forum anymore its been completely ruined by 3-4 posters. Time for me to take a break from here. Maybe things will improve in the future.
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bg
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Post by bg on Apr 13, 2020 9:58:38 GMT
That is not correct, there have been quite a lot of days where net inflows have exceeded £2m, I can give you the dates if you like. Of course there have been days when there have been net withdrawals as well. Conversely, for the average over the past year to have been under £100k per day there must also have been a lot of days with heavy outflows to offset these inflows. Its hardly very useful to quote one side of a data series. Which you know I didn't.
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bg
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Post by bg on Apr 13, 2020 9:57:07 GMT
This is because AC promised borrowers money in the future that did not have, it seems a bit like a Ponzi scheme.
No they didn't. They stated that under normal market you should be able to access your money but that it isn't guaranteed. Conditions are not normal so we have defaulted back to the situation where you own a basked of peer to peer loans which is what the underlying investment is.
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bg
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Post by bg on Apr 13, 2020 9:43:58 GMT
Is there really any significant new cash deposits now?
So where are the Capital redemptions going because only a small proportion is being passed to lenders in the withdraw pool, surly the capital redemptions if not paid out are the composition between cash and loans less any funds going into new tranches of exiting loans (as AC stated no new loans) which AC have promised and are/or are intending to use lenders capital repayments.
I keep records of these numbers. One year ago the access account balances totalled £180m. Today they total £215m. I don't know where this £2m number comes from but the inflows into the access accounts have never been anywhere remotely near that number even when they were functioning correctly. Now that they have become locked in with a 0.9% interest rate deduction they look uninvestible and thats before any consideration of trustworthyness of the management or survival of the platform. That is not correct, there have been quite a lot of days where net inflows have exceeded £2m, I can give you the dates if you like. Of course there have been days when there have been net withdrawals as well.
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bg
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Post by bg on Apr 13, 2020 9:34:49 GMT
When the balance in the access accounts increases it is always net new cash (ie deposits minus withdrawals) or interest payments received from borrowers. Capital redemption's have no impact on the account balance. All it does is alter the composition between cash and loans. So if the account balance was £100m made up of £10m cash and £90m loans, if a £2m loan repaid then the account balance would remain at £100m but it would be made up of £12m cash and £88m loans. Is there really any significant new cash deposits now?
Depends what you mean by significant, probably £2m (net of the withdrawals that have been paid) since the withdrawal restrictions came in. So given people in the queue have received nearly £500 per account, if you estimate how many people you think are in the queue and multiply by 500 you can then add £2m to it and get an estimate for new cash deposits. This has been covered at length elsewhere. The proportion that hasn't been paid out has been used to fund some contractual withdrawals on development loans but the bulk of it has increased the amount of cash held within the access accounts. When the accounts were frozen there was only around £2m of cash left in the accounts (hence the freeze) but that has since been built up to around £10m. By way of comparison on 15 Jan the access accounts held over £30m in cash.
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bg
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Post by bg on Apr 13, 2020 8:44:30 GMT
Why? If people are investing long term, want an instant diversified portfolio without the hassle of choosing loans and the nominal protection of a provision fund then the fact the accounts are restricted access currently is a lesser consideration. I think you are underestimating the influence of convenience (and laziness). Some perhaps, but how many? At a quick glance, during 2019 the daily increase in total AAs was over £2m on only a handful of occasions, and AFAICS each time there was a major redemption so I doubt that there was ever £2m in new cash. And that was during the good times with instant or notice access. When the balance in the access accounts increases it is always net new cash (ie deposits minus withdrawals) or interest payments received from borrowers. Capital redemption's have no impact on the account balance. All it does is alter the composition between cash and loans. So if the account balance was £100m made up of £10m cash and £90m loans, if a £2m loan repaid then the account balance would remain at £100m but it would be made up of £12m cash and £88m loans.
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bg
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Post by bg on Apr 12, 2020 10:00:18 GMT
If I've understood this, isn't your blue dataset NHS England only, while the red is UK wide? Might that explain the apparent 3 to 4 day time lag? Spot on Berny, I blame too much sun yesterday! I'll try and incorporate other nations figures if I can find them, probably after a bit more sun! Thanks for letting me down gently I've been trying to do similar analysis but can't find the deaths by actual date of death anywhere for Scotland, Wales or NI. It's also pretty hard to draw too many conclusions as we know that the data will always be moving as many deaths are still likely unreported even though they occurred a while ago (of the deaths reported in England yesterday, 79 of them actually occurred a week or more ago). Given London is the epicenter in the UK, I think its particularly interesting to look for a fall off in deaths there - and the breakdown is given by region. Tentative signs the numbers are levelling off but the data could yet change.
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bg
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Post by bg on Apr 12, 2020 9:21:02 GMT
"Imagine a developer that has put in £1m of their own equity, signed an agreement for a £3m loan from AC, has received £1.5m of it from AC and built out half the site. If AC then says OK we are breaking this contract and you now need to sell the building site into a market like this, whats the legal position (I know from experience people are very reluctant to buy an incomplete building site as they effectively have to start everything again from scratch). I think the developer who is then looking at a certain wipe out of the £1m they have put in plus a lot of wasted effort is going to be pretty unhappy about this. Of course a lot depends on the nature of the agreement but it is the main worry for me."
As outlined in Stuart's comunications, this shouldn't be an issue. For development loans the required capital and the interest due to AC is all set aside and retained within AC accounts. So as builds progress AC can fulfil drawdown requests and also allocate interest to lenders.
The two main issues with property developments will be slippage to the time lines due to contractor availability and then, once practical completion is achieved, whether properties can be marketed and sold quickly at the required price in a depressed market.
No it's not. If you think that is the case, why do you think they have to fund future tranches of development loans? It's why the majority of repayments/deposits into the Access accounts are being held back and not used to fulfill withdrawal requests.
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