Mick
Be nice... People respond.
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Post by Mick on Apr 7, 2018 7:38:54 GMT
I'm now in a 6 Month Zero interest loan, to help the Borrower out. .... Do you think these loans will catch on.
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cb25
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Post by cb25 on Apr 7, 2018 8:03:50 GMT
I'm now in a 6 Month Zero interest loan, to help the Borrower out. .... Do you think these loans will catch on. Only with borrowers
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trevor
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Post by trevor on Apr 7, 2018 8:17:30 GMT
Which loan?
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cb25
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Post by cb25 on Apr 7, 2018 8:43:32 GMT
227, six month interest free extension (funnily enough, I voted against that)
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lucky
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Post by lucky on Apr 7, 2018 9:13:06 GMT
I'm now in a 6 Month Zero interest loan, to help the Borrower out. .... Do you think these loans will catch on. Unfortunately you were in the minority, what does surprise me is 60% couldn’t be bothered to vote at all!
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misscas
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Post by misscas on Apr 7, 2018 9:23:08 GMT
I'm now in a 6 Month Zero interest loan, to help the Borrower out. .... Do you think these loans will catch on. Unfortunately you were in the minority, what does surprise me is 60% couldn’t be bothered to vote at all! Perhaps confused/concerned/ultra cautious about PF cover on their holdings in non manual accounts?
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cb25
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Post by cb25 on Apr 7, 2018 9:30:16 GMT
I wonder whether the PF is the key to aspects of this vote.
Lenders - who voted to accept/didn't vote - viewed it as "my money is protected by a PF, so I'm guaranteed to get my money back regardless of what happens, I'll go with the default"
AC - who (unbelievably imo) let the borrower dictate what happened next on a loan that's in default - viewed it as "phew, massive loan, don't want that impacting the PF, we'll stay clear and let the borrower kick it down the road, perhaps it'll magically correct itself"
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jayjay
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Post by jayjay on Apr 7, 2018 10:01:06 GMT
I have a small holding of 227 in MLA and voted against the proposal. I appear to have a larger holding in 30 day AA. When I voted it was presumably only the MLA weight that counted. It is possible that a substantial percentage of this loan was held by QAA and 30DAA. Where do those votes go? I hope they are not controlled by AC?
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misscas
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Post by misscas on Apr 7, 2018 10:35:15 GMT
I have a small holding of 227 in MLA and voted against the proposal. I appear to have a larger holding in 30 day AA. When I voted it was presumably only the MLA weight that counted. It is possible that a substantial percentage of this loan was held by QAA and 30DAA. Where do those votes go? I hope they are not controlled by AC? Does it? (my bold) AIUI your vote covers all your holdings and AC have no votes.
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jayjay
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Post by jayjay on Apr 7, 2018 12:00:09 GMT
I have a small holding of 227 in MLA and voted against the proposal. I appear to have a larger holding in 30 day AA. When I voted it was presumably only the MLA weight that counted. It is possible that a substantial percentage of this loan was held by QAA and 30DAA. Where do those votes go? I hope they are not controlled by AC? Does it? (my bold) AIUI your vote covers all your holdings and AC have no votes. Possibly. I have a lot of small holdings in all accounts and am unaware of being asked to vote on anything that I do not have an MLIA holding. My QAA holdings are so transitory it would surprise me that I get a vote with them. Note..Even if the loan is suspended you do have the ability to dispose of holdings if they are held in QAA or 30 day AC (under normal conditions). I had assumed this gave no right to vote....
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Mick
Be nice... People respond.
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Post by Mick on Apr 7, 2018 12:21:55 GMT
Does it? (my bold) AIUI your vote covers all your holdings and AC have no votes. Possibly. I have a lot of small holdings in all accounts and am unaware of being asked to vote on anything that I do not have an MLIA holding. My QAA holdings are so transitory it would surprise me that I get a vote with them. Note..Even if the loan is suspended you do have the ability to dispose of holdings if they are held in QAA or 30 day AC (under normal conditions). I had assumed this gave no right to vote.... Perhaps we should be asking who was in the vote pool.
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sjg
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Post by sjg on Apr 7, 2018 12:35:59 GMT
Well I voted against as well but don't think the power of my remaining £7.84 had much of an effect on the outcome!! Saying that I put some money in the QAA last night and now I have another £1.09 of this loan although that could have been there before.  |
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Post by crabbyoldgit on Apr 7, 2018 15:56:02 GMT
Just a thought I assume everybody is getting 0%, people may have voted in the managed accounts thinking they will still get the 6% ish or 4.5 % whatever as the pf would make up for the next 6 months. I may be wrong but as we as a group voted for this so those rates will be all be a little lower until the borrower comes back for another bite.
If this is not the case i am seriously upset it would mean the managed accounts holders voted to cut the returns of the mlia lenders useing the pf to isolate them from the consequences of the votes they cast. Fairer together ?
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cb25
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Post by cb25 on Apr 7, 2018 17:08:39 GMT
Just a thought I assume everybody is getting 0%, people may have voted in the managed accounts thinking they will still get the 6% ish or 4.5 % whatever as the pf would make up for the next 6 months. I may be wrong but as we as a group voted for this so those rates will be all be a little lower until the borrower comes back for another bite. If this is not the case i am seriously upset it would mean the managed accounts holders voted to cut the returns of the mlia lenders useing the pf to isolate them from the consequences of the votes they cast. Fairer together ? I don't think the PF covers shortfalls in interest payments (but am too lazy to go and search for that right now).
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lucky
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Post by lucky on Apr 7, 2018 18:29:38 GMT
Just a thought I assume everybody is getting 0%, people may have voted in the managed accounts thinking they will still get the 6% ish or 4.5 % whatever as the pf would make up for the next 6 months. I may be wrong but as we as a group voted for this so those rates will be all be a little lower until the borrower comes back for another bite. If this is not the case i am seriously upset it would mean the managed accounts holders voted to cut the returns of the mlia lenders useing the pf to isolate them from the consequences of the votes they cast. Fairer together ? I’m relatively new to AC so please pardon my ignorance, I assumed investors received a higher rate of interest with the manual account but weren’t eligible for the pf or accepted a lower interest rate with managed account but (hopefully) were covered by pf?
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