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Post by stuartassetzcapital on Apr 23, 2018 18:18:46 GMT
I hadn't noticed that, but I see from AC's downloadable loan book that 13.6% (approx 1/8) of loans by value have the 'Is Suspended' flag on. Perhaps stuartassetzcapital can comment on whether that's as expected. Are some of those old loans that have been settled and no longer outstanding? We have an update on defaults and losses data due out this week according to the plan. A good place to see actual past outcomes in net of losses lending figures are published by AltFi Data here : www.altfidata.com/marketdata/
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Post by crabbyoldgit on Apr 23, 2018 18:59:47 GMT
Hi just a comment having got a bit windy over the number of my loans going suspended , but having worked through one at a time and the majority waiting a vote of some sort in reasonably benign conditions a traffic light system green for a vote of some other non critical risc to capital or interest and red for others saying it's in default or going that way may stop me having a heart attack.
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angrysaveruk
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Back and to the left..
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Post by angrysaveruk on Apr 23, 2018 20:04:36 GMT
Hi just a comment having got a bit windy over the number of my loans going suspended Yes and I think you (and oldgrumpy) owe us all an apology for the forum being taken offline
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Post by stuartassetzcapital on Apr 23, 2018 21:38:15 GMT
Hi just a comment having got a bit windy over the number of my loans going suspended , but having worked through one at a time and the majority waiting a vote of some sort in reasonably benign conditions a traffic light system green for a vote of some other non critical risc to capital or interest and red for others saying it's in default or going that way may stop me having a heart attack. A useful suggestion thanks
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happy
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Post by happy on Apr 28, 2018 5:36:50 GMT
Hi just a comment having got a bit windy over the number of my loans going suspended , but having worked through one at a time and the majority waiting a vote of some sort in reasonably benign conditions a traffic light system green for a vote of some other non critical risc to capital or interest and red for others saying it's in default or going that way may stop me having a heart attack. A useful suggestion thanks I suggested this type of improvement a few years back but it never made it to the top of any list. A simple solution to reduce the number of suspended loans (and associated levels of alarm they cause) would be to have a new "Trading Paused" status for non credit issue related events like traunche drawdowns, non critical lender votes etc. This could then limit use of "Suspended" status to those loans with real issues and defaults. Could work without too much effort.
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Post by stuartassetzcapital on Apr 28, 2018 14:38:25 GMT
I suspect we are going to need sub-classifications of 'credit event suspended' as this covers everything pre-recovery status and will include some loans that have formally defaulted but also some non-performing and also some that you list as non-critical.
We have simplified the statuses recently but do appear to need nuances if we are to be able to give transparency to lenders. It is being reviewed.
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oxdoc
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Post by oxdoc on Apr 29, 2018 13:16:26 GMT
I would also very much be in favour of having different classifications for suspensions based on credit events and non-credit related events.
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upland
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Post by upland on Apr 29, 2018 18:51:02 GMT
Has anyone else noted an increase in the number of loans marked as either "Suspended" or the subject of a "Monitoring Event" on AC in recent weeks. Either AC are being bombarded by borrowers failing to meet their commitments, possibly as a result of poor diligence in giving out loans with our money in the first place or there is a hidden agenda post their clarification of the use of the Provision Fund. Simple English question; Do suspended loans qualify for lenders to receive payments via the provision fund ? I felt that it was on the rise too.
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upland
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Post by upland on Apr 29, 2018 18:52:45 GMT
Has anyone else noted an increase in the number of loans marked as either "Suspended" or the subject of a "Monitoring Event" on AC in recent weeks. Either AC are being bombarded by borrowers failing to meet their commitments, possibly as a result of poor diligence in giving out loans with our money in the first place or there is a hidden agenda post their clarification of the use of the Provision Fund. Simple English question; Do suspended loans qualify for lenders to receive payments via the provision fund ? I felt that it was on the rise too. Some good explanations on this thread from AC , many thanks.
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Tony
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Post by Tony on May 3, 2018 18:54:09 GMT
Late interest does create PF payouts (on the usual discretionary basis) yes up to the point of being credit event suspended and indeed late interest could be the driver for the suspension. If an interest payment was due a week before being suspended then it should be paid and if one week after then it would not. I hope this helps. Thanks, but no it's not really helping, I asked if a loan being suspended is a trigger for not paying out from the provision fund and to be totally honest I missing the yes/no answer to that question. Maybe it's just me. However for my simple mind, please could you clarify
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happy
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Post by happy on May 3, 2018 20:24:58 GMT
Late interest does create PF payouts (on the usual discretionary basis) yes up to the point of being credit event suspended and indeed late interest could be the driver for the suspension. If an interest payment was due a week before being suspended then it should be paid and if one week after then it would not. I hope this helps. Thanks, but no it's not really helping, I asked if a loan being suspended is a trigger for not paying out from the provision fund and to be totally honest I missing the yes/no answer to that question. Maybe it's just me. However for my simple mind, please could you clarify The simple answer is no. Suspension does not mean the PF will pay, it means that trading in the loan is suspended. Loans can be suspended for many reasons, some of these may be credit events that affect the loan in some way that changes it's risk profile. I am sure it is possible that interest could still be being paid against many suspended loans. I think the underlying issue here is many people have mistakenly linked "Trading Suspended" with "Loan Defaulted", they are not the same.
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happy
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Post by happy on May 3, 2018 20:33:28 GMT
A useful suggestion thanks I suggested this type of improvement a few years back but it never made it to the top of any list. A simple solution to reduce the number of suspended loans (and associated levels of alarm they cause) would be to have a new "Trading Paused" status for non credit issue related events like traunche drawdowns, non critical lender votes etc. This could then limit use of "Suspended" status to those loans with real issues and defaults. Could work without too much effort. I notice #448 is showing "Vote in Progress" status instead of just "Trading Suspended". Most welcome, progress indeed. Whilst on the subject of improvements I was also delighted to see the Investment Accounts "On Repayment" option on the Dashboard now allows you to withdraw capital repayments and/or interest directly to another investment account. E.G. repayments from GBBA1 could be sent directly to GBBA2. Absolutely perfect, thanks chris and the dev team.
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Post by stuartassetzcapital on May 4, 2018 9:07:22 GMT
Late interest does create PF payouts (on the usual discretionary basis) yes up to the point of being credit event suspended and indeed late interest could be the driver for the suspension. If an interest payment was due a week before being suspended then it should be paid and if one week after then it would not. I hope this helps. Thanks, but no it's not really helping, I asked if a loan being suspended is a trigger for not paying out from the provision fund and to be totally honest I missing the yes/no answer to that question. Maybe it's just me. However for my simple mind, please could you clarify A loan being suspended for significant delays (>60 days/ 2 payments) as a pre-cursor to potentia, default would stop it being PF eligible. We are updating our loan statuses to be really clear on these sort of matters over coming days and some of this has started as referred to below.
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