spockie
Member of DD Central
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Post by spockie on Jul 11, 2014 20:48:08 GMT
9.5% 12 month loan 72% LTV
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j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188 
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Post by j on Jul 11, 2014 22:49:32 GMT
9.5% 12 month loan 72% LTV Thanks fr the heads up spockie. Another day, another loan, another drop in the rate, despite an average ~ 72% ltv. Sign of things happening & to come even more in the future!
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Post by mrclondon on Jul 12, 2014 10:37:15 GMT
I think the other factor that goes into the AC pricing model is retained interest or not. On a relatively small loan (such as this), with 12 months retained interest, there is minimal risk in that 9.5% if the loan parts are sold on the AM after say 8 months ... but clearly not zero risk because for example the administration/liquidation of the company in the meantime would trigger a formal default. However, in this case we are dealing with a non-trading company so the risk of liquidation is IMO also low.
The only thing I'm not keen on here is the intercompany balances (especially given they seem to relate to overseas i.e. Florida), but I've not studied the detail yet to unravel whats going on.
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mikes1531
Member of DD Central
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Post by mikes1531 on Jul 12, 2014 12:48:38 GMT
Perhaps it's just because it was a short notice, and at the weekend, but this auction seems to have had a rather underwhelming response. With less than ten minutes to go before pre-bids are converted into firm bids, the pre-bids for this relatively small investment opportunity total just 2% of the amount to be borrowed. And some of those pre-bids might not convert due to lack of funds or shadow bidding capacity.
I initially put in a pre-bid to preserve the investment opportunity in case it was very popular, but I've since deleted that because the valuations haven't been made available yet. Perhaps there are others who also are waiting until they can see the valuations.
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baz657
Member of DD Central
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Post by baz657 on Nov 25, 2014 17:12:39 GMT
Over four months later and this one hasn't drawn down yet even though shadow bids were called in 29th October. It seems from the Q & A's that not everybody paid up though...
... and that has been put forward as one excuse for the delays.
It seems as if it's getting harder to get straight answers for some subjects since the "upgrade".
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Post by batchoy on Nov 25, 2014 17:38:08 GMT
Over four months later and this one hasn't drawn down yet even though shadow bids were called in 29th October. It seems from the Q & A's that not everybody paid up though... ... and that has been put forward as one excuse for the delays. It seems as if it's getting harder to get straight answers for some subjects since the "upgrade". The another excuse being that the loan wasn't ready to be drawn down any way as they haven't got all the paperwork from the borrower's solicitor which seems familiar but is pretty poor nearly a month after the shadow bid call.
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