criston
Member of DD Central
Posts: 1,204
Likes: 628
|
Post by criston on Apr 28, 2019 12:39:50 GMT
I get the feeling AC have a somewhat better record than other platforms.
Proplend, Blendnetwork & Capitalstackers appear excellent, but unlike AC, availability is a problem with those.
I know AC had a bad year 2016 with energy & bridging loans, but they appear to be on top of things now.
The information they provide, pre & post loan offerings, are excellent.
Their overall default %, after recoveries, appear on face value, to be quite acceptable if you are outside their protected funds.
What is the general view ?
|
|
jo
Member of DD Central
dead
Posts: 741 
Likes: 498
|
Post by jo on Apr 28, 2019 14:39:36 GMT
I think the vintage of the investor asked will colour their reply.
Personally, I find the pace of recovery unacceptable and I think the (carefully engineered) situation, whereby most discussion is off-limits, means they get a pretty easy ride - compared to others. I remain unconvinced that complete 'omerta' fosters urgency.
I realise others will disagree but you did invite views and that's mine!
|
|
|
|
Post by hammertime on Apr 28, 2019 14:51:44 GMT
Not to bad but they could always go the same way as F/C beware. Very slow recoveries money stuck in trading suspended for to long with no reason.This needs looking into for legal reasons as it does not add up
|
|
alibaba
Member of DD Central
Posts: 341
Likes: 245
|
Post by alibaba on Apr 28, 2019 14:57:17 GMT
Only time will tell.
I have 5k stuck in accrued interest
7k in recovery for 2018/2019 tax year
13 loans in my MLA are suspended
6 loans in GEA are suspended, with 9k in one loan, AC in their wisdom invested without my knowledge or approval.
12 loans in GBBA1 are suspended with 19k in one loan, again AC in their wisdom invested without my knowledge or approval.
11 loans in GBBA2 suspended not to concerned as there is good diversification.
Unfortunately I learnt from Thin Cats that you only find out the true picture many years down the line. I am not over confident but we live in hope.
|
|
|
|
Post by hammertime on Apr 28, 2019 15:03:28 GMT
Its all investing so who Knows what can happen shop around.
|
|
iRobot
Member of DD Central
Posts: 1,680
Likes: 2,477
|
Post by iRobot on Apr 28, 2019 15:29:13 GMT
I think the vintage of the investor asked will colour their reply. Personally, I find the pace of recovery unacceptable and I think the (carefully engineered) situation, whereby most discussion is off-limits, means they get a pretty easy ride - compared to others. I remain unconvinced that complete 'omerta' fosters urgency. I realise others will disagree but you did invite views and that's mine! Tend to agree and am concerned that the recently increased restrictions on viewing details for problem loans portends a worsening loanbook state.
|
|
criston
Member of DD Central
Posts: 1,204
Likes: 628
|
Post by criston on Apr 28, 2019 15:47:21 GMT
'am concerned that the recently increased restrictions on viewing details for problem loans portends a worsening loanbook state'
An interesting comment.
Proplend do not publish any information at all after the loan goes live. They appear to be excellent, as their loans are sometimes filled in seconds.
My point is, AC is the most open as far as supplying information, whereas Proplend is the worst. You don't know if Proplend have a problem loan.
How does one reconcile that.
|
|
corto
Member of DD Central
one-syllabistic
Posts: 851
Likes: 356
|
Post by corto on Apr 28, 2019 17:08:38 GMT
I think the vintage of the investor asked will colour their reply. Personally, I find the pace of recovery unacceptable and I think the (carefully engineered) situation, whereby most discussion is off-limits, means they get a pretty easy ride - compared to others. I remain unconvinced that complete 'omerta' fosters urgency. I realise others will disagree but you did invite views and that's mine! Tend to agree and am concerned that the recently increased restrictions on viewing details for problem loans portends a worsening loanbook state. The main reason more likely is that confidential information about the state of recovery might leak into the public and have a potentially negative effect on the recovery processes. There have been a few interviews in the press that highlighted the problem.
|
|
sl75
Posts: 2,092
Likes: 1,245
|
Post by sl75 on Apr 28, 2019 17:25:34 GMT
Some quick stats I just added up, based on a loan book download:
Loans 1-200: 20 loans still outstanding, £10M total loan amount of which 16 loans (94% by value) suspended. Loans 201-400: 70 loans still outstanding, £58M total loan amount of which 21 loans (48% by value) suspended. Loans 401-600: 102 loans still outstanding, £96M total loan amount of which 21 loans (21% by value) suspended. Loans 601-800: 128 loans still outstanding, £125M total loan amount of which 2 loans (0.4% by value) suspended. Loans 801-1006: 171 loans still outstanding, £116M total loan amount of which 0 loans (0% by value) suspended.
ALL LOANS: 491 loans still outstanding, £406M total loan amount of which 60 loans (14.2% by value) suspended.
As jo said a few posts ago, the experience will mainly depend on what vintage of loans an investor started with... it is very frustrating that even several years after a loan defaulted, those who wish to exit the affected accounts are still unable to do so.
For now it is unclear how much of the improvement is due to improvements in AC's processes, and how much is due to the effect that the younger loans simply haven't had time for problems to emerge.
|
|
|
|
Post by alexp2p on Apr 29, 2019 9:23:10 GMT
Good analysis:
To which years belong the loans 1-200, loans 201-400, loans 401-600, loans 601-800, loans 801-1006?
|
|
alibaba
Member of DD Central
Posts: 341
Likes: 245
|
Post by alibaba on Apr 29, 2019 9:43:13 GMT
s175, many thanks for the excellent feedback, it is only by having this kind of information that we get a clearer picture of the true situation, the important thing to remember is that the rate of interest and capital that is stated on the dashboard is not necessarily what you will receive.
|
|
sl75
Posts: 2,092
Likes: 1,245
|
Post by sl75 on Apr 29, 2019 9:48:21 GMT
Good analysis: To which years belong the loans 1-200, loans 201-400, loans 401-600, loans 601-800, loans 801-1006? Not sure, but can be easily determined by looking at the loan details of loans near those boundary numbers (if the download had included drawdown date I'd probably have filtered by that rather than by loan number...)
|
|
bg
Member of DD Central
Posts: 1,368
Likes: 1,929
|
Post by bg on Apr 29, 2019 9:49:18 GMT
Some quick stats I just added up, based on a loan book download:
Loans 1-200: 20 loans still outstanding, £10M total loan amount of which 16 loans (94% by value) suspended. Loans 201-400: 70 loans still outstanding, £58M total loan amount of which 21 loans (48% by value) suspended. Loans 401-600: 102 loans still outstanding, £96M total loan amount of which 21 loans (21% by value) suspended. Loans 601-800: 128 loans still outstanding, £125M total loan amount of which 2 loans (0.4% by value) suspended. Loans 801-1006: 171 loans still outstanding, £116M total loan amount of which 0 loans (0% by value) suspended.
ALL LOANS: 491 loans still outstanding, £406M total loan amount of which 60 loans (14.2% by value) suspended.
As jo said a few posts ago, the experience will mainly depend on what vintage of loans an investor started with... it is very frustrating that even several years after a loan defaulted, those who wish to exit the affected accounts are still unable to do so.
For now it is unclear how much of the improvement is due to improvements in AC's processes, and how much is due to the effect that the younger loans simply haven't had time for problems to emerge.
Unfortunately the data you are using here is not fit for this purpose. The 'Loan Amount' I believe is the maximum outstanding capital balance over the life of the loan not the current outstanding capital balance which should be used. For example loan #26 has loan amount £50k but the outstanding capital balance is only £9k. #137 has loan amount £1.9m but with outstanding balance of £0.96m. To get the correct data I think you need to go into each loan individually which is a bit of a fag. For loans 1-200 the actual outstanding balance is £6.9m More importantly, I don't think this data tells us anything without context. You need to include the total amount of the loans for each bracket. By definition once all the loans that aren't bad have been repaid you are going to be left with 100% suspended loans so each bracket is going to trend to 100% over time, it doesn't tell us anything really. What we need to know is that loans 1-200 lent say £200m (I haven't got the actual numbers, I may work out later if I have time). £193.1m has been repaid and £6.9m is outstanding of which £6.5m is suspended. So that would imply 3.25% of loans 1-200 are distressed/late of which some amount is likely to be recovered. That gives a more accurate picture than saying 94% of loans 1-200 are suspended when the vast majority have been repaid with interest.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
|
Post by ilmoro on Apr 29, 2019 10:58:48 GMT
The other issue, certainly in the case of the oldest cohorts, is that not all the loans actually exist. 1-200 is actual only 140 loans as a large number failed to go ahead (dont mention predrawdown interest  ) [120 repaid representing c£63m ] so not necessarily comparing like with like when it comes to volume/spread of lending. |
|
rookey123
Member of DD Central
Posts: 75
Likes: 130
|
Post by rookey123 on Apr 29, 2019 11:03:56 GMT
Also need to take out loans which are suspended as they are drawing down a tranche of a larger facility.
|
|
) [120 repaid representing c£63m ] so not necessarily comparing like with like when it comes to volume/spread of lending.