trouble
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Post by trouble on Jun 4, 2016 11:32:43 GMT
Yawn zzzzz
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oldgrumpy
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Post by oldgrumpy on Jun 4, 2016 18:48:15 GMT
Yes, indeed! Zzzzzz, while I (we) wait for AC to actually lend my four figure repayments which is still waiting for new loans - just £40.41 allocated in the last ten days. I'm not even a BH, so why should our money stay here?
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Post by lynnanthony on Jun 5, 2016 1:56:38 GMT
Yes, indeed! Zzzzzz, while I (we) wait for AC to actually lend my four figure repayments which is still waiting for new loans - just £40.41 allocated in the last ten days. I'm not even a BH, so why should our money stay here? 1. Because it is earning some interest whilst it is sat doing nowt? 2. Because AC, like most other sites, has always been a bit feast or famine, and things may pick up? 3. Because AC is only one of several sites you use, and they all have drawbacks, there is no perfect site? For myself, currently I'm just about managing to stay nearly fully invested, with about 5% sat in the QAA awaiting re-investment, and I'm OK with that. In fact, even without the QAA I wouldn't have an issue with it; most sites I use have dead time.
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oldgrumpy
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Post by oldgrumpy on Jun 5, 2016 12:10:25 GMT
The AC shouldn't perpetually keep mentioning dates on the highly inflated "pipeline" "coming soon" (I don't mean the long distance pipe) which even after Chris's moderation is continually so wayward. This has been going on since AH's pie-in-the-sky (more pigs than pies sometimes!) predictions of 2014 and nothing's changed. On 2nd June in the afternoon we received a "good tidings" #286 email telling us of a new loan, which on web-page examination was listed even then to draw down on 2nd June. I'm sure they knew damn' well it wouldn't (and it still hasn't) so why say it? 3 Million in the week before the end of May? Pah! not even £250K! Perhaps it's all a ploy to encourage optimists among us to leave millions of £s in the QAA, thus cutting out the underwriters (and cutting AC's costs) for all but the biggest loans - thus making us the underwriters for 3.75%. What is it, £22M+? Mmmm. Nice day today isn't it  |
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Post by chris on Jun 5, 2016 16:31:43 GMT
The AC shouldn't perpetually keep mentioning dates on the highly inflated "pipeline" "coming soon" (I don't mean the long distance pipe) which even after Chris's moderation is continually so wayward. This has been going on since AH's pie-in-the-sky (more pigs than pies sometimes!) predictions of 2014 and nothing's changed. On 2nd June in the afternoon we received a "good tidings" #286 email telling us of a new loan, which on web-page examination was listed even then to draw down on 2nd June. I'm sure they knew damn' well it wouldn't (and it still hasn't) so why say it? 3 Million in the week before the end of May? Pah! not even £250K! Perhaps it's all a ploy to encourage optimists among us to leave millions of £s in the QAA, thus cutting out the underwriters (and cutting AC's costs) for all but the biggest loans - thus making us the underwriters for 3.75%. What is it, £22M+? Mmmm. Nice day today isn't it The delay, as is typically the case, is in legals. Every single one of those loans was ready to draw in time but was delayed by the borrower's lawyers in each case. We were chasing, the borrower was chasing, but in some cases we couldn't even get a response out of those third parties. This is why the month by month predictions are so much easier than the day by day or week by week predictions, and why I typically revert back to the month by month timeframe. Don't forget that last October we made predictions around our growing pipeline, said it would feed through around February / March, and were pooh poohed by many on the forum. Yet those predictions and the upturn in loans came true. Internally I predicted this current slowdown at the start of May and as frustrating as it was I wasn't surprised it happened. By the same measure as we monitored our internal pipeline back in October we've just gone through another step change in terms of origination. It will take 4 months to fully feed through though. In the interim our pipeline is busting at the seams but requires co-operation from borrower's lawyers to get the loans through to draw down. There is also an internal project underway to reduce that dependency on borrower lawyers, although it can never be eliminated, and code was released to the admin team last week to enable us to more accurately track progress and make more accurate predictions on drawdown dates. Based on the data we have now I'm confident of at least something around the £7m drawing down this month. Could be more, could be a little bit less, but it'll be in that ballpark. Next month will be at least the same again excluding one large deal which is £7m on its own. That one should draw next month but could easily slip so I don't want to include it in the prediction given its size and effect on the figures. Based on current origination figures, which are double those last October, and conversion rates we should be consistently into the £10-15m bracket from September. I would say August but I know what third party lawyers are like.
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oldgrumpy
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Post by oldgrumpy on Jun 5, 2016 18:15:32 GMT
Hi Chris Aren't you sunning yourself in the garden? Oh, I forgot the wink by that comment re. AC's ploy. Here it is  . I hope, when the borrowers say to you, "where's the loot?" you make it quite clear that the borrowers' own solicitors have failed to do their part. Now, don't reply - have a pint (or a G & T) and smile at the baby. |
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dermot
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Post by dermot on Jun 5, 2016 18:36:56 GMT
The AC shouldn't perpetually keep mentioning dates on the highly inflated "pipeline" "coming soon" (I don't mean the long distance pipe) which even after Chris's moderation is continually so wayward. This has been going on since AH's pie-in-the-sky (more pigs than pies sometimes!) predictions of 2014 and nothing's changed. On 2nd June in the afternoon we received a "good tidings" #286 email telling us of a new loan, which on web-page examination was listed even then to draw down on 2nd June. I'm sure they knew damn' well it wouldn't (and it still hasn't) so why say it? 3 Million in the week before the end of May? Pah! not even £250K! Perhaps it's all a ploy to encourage optimists among us to leave millions of £s in the QAA, thus cutting out the underwriters (and cutting AC's costs) for all but the biggest loans - thus making us the underwriters for 3.75%. What is it, £22M+? Mmmm. Nice day today isn't it The delay, as is typically the case, is in legals. Every single one of those loans was ready to draw in time but was delayed by the borrower's lawyers in each case. We were chasing, the borrower was chasing, but in some cases we couldn't even get a response out of those third parties. This is why the month by month predictions are so much easier than the day by day or week by week predictions, and why I typically revert back to the month by month timeframe. Don't forget that last October we made predictions around our growing pipeline, said it would feed through around February / March, and were pooh poohed by many on the forum. Yet those predictions and the upturn in loans came true. Internally I predicted this current slowdown at the start of May and as frustrating as it was I wasn't surprised it happened. By the same measure as we monitored our internal pipeline back in October we've just gone through another step change in terms of origination. It will take 4 months to fully feed through though. In the interim our pipeline is busting at the seams but requires co-operation from borrower's lawyers to get the loans through to draw down. There is also an internal project underway to reduce that dependency on borrower lawyers, although it can never be eliminated, and code was released to the admin team last week to enable us to more accurately track progress and make more accurate predictions on drawdown dates. Based on the data we have now I'm confident of at least something around the £7m drawing down this month. Could be more, could be a little bit less, but it'll be in that ballpark. Next month will be at least the same again excluding one large deal which is £7m on its own. That one should draw next month but could easily slip so I don't want to include it in the prediction given its size and effect on the figures. Based on current origination figures, which are double those last October, and conversion rates we should be consistently into the £10-15m bracket from September. I would say August but I know what third party lawyers are like. Guess I'd better ensure I have internet connectivity when on holiday in late summer / early autumn then ....
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Post by chris on Jun 5, 2016 19:03:03 GMT
Hi Chris Aren't you sunning yourself in the garden? Oh, I forgot the wink by that comment re. AC's ploy. Here it is . I hope, when the borrowers say to you, "where's the loot?" you make it quite clear that the borrowers' own solicitors have failed to do their part. Now, don't reply - have a pint (or a G & T) and smile at the baby. Absolutely. And we're making changes to the loan agreement to help focus them on that.
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Post by mrclondon on Jun 8, 2016 17:48:06 GMT
#90 North Loth. WT has fully repaid today (after a part repay yesterday) and funds will be distributed to lenders shortly. £1.6m loan in total
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SteveT
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Post by SteveT on Jun 8, 2016 18:21:26 GMT
#90 North Loth. WT has fully repaid today (after a part repay yesterday) and funds will be distributed to lenders shortly. £1.6m loan in total I feel another AC withdrawal coming on 
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jonah
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Post by jonah on Jun 8, 2016 20:06:48 GMT
#90 North Loth. WT has fully repaid today (after a part repay yesterday) and funds will be distributed to lenders shortly. £1.6m loan in total I feel another AC withdrawal coming on I think this is still paying out as whilst my GEIA has returned some cash my small MLIA holding is still there. Either way, I assume that this will fill the QAA again.
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agent69
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Post by agent69 on Jun 8, 2016 21:01:22 GMT
#90 North Loth. WT has fully repaid today (after a part repay yesterday) and funds will be distributed to lenders shortly. £630k on the SM. I assume people trying to get out and into the QAA before the cap is hit.
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agent69
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Post by agent69 on Jun 8, 2016 21:02:49 GMT
And can somebody remind me how this money is currently invested?
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lobster
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Post by lobster on Jun 8, 2016 21:56:38 GMT
Excuse me if I'm being thick here, but I just can't get my head around what's going on with this loan.
It has been repaid today according to AC , but investors have not yet been paid out. OK fair enough - understood.
Also the loan is being refinanced for a further 12 months. OK understood too, I think.
I just don't understand why there is over 600k on the SM all of a sudden ?? Are investors suddenly wanting to sell their holdings just before AC distribute the repayment ?? If so, why ?? Or will the 600k disappear once AC have distributed the repayment ?? More importantly I'm very tempted to buy a chunk , but given that I'm almost certainly missing something, I'll hold back, at least until I get to grips with what's actually going on here.
Also the loan is currently showing as 0% interest, but I assume that's just an platform glitch.
Any guidance, (preferably in simple English !) gratefully received. Thanks.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jun 8, 2016 22:03:50 GMT
Excuse me if I'm being thick here, but I just can't get my head around what's going on with this loan. It has been repaid today according to AC , but investors have not yet been paid out. OK fair enough - understood. Also the loan is being refinanced for a further 12 months. OK understood too, I think. I just don't understand why there is over 600k on the SM all of a sudden ?? Are investors suddenly wanting to sell their holdings just before AC distribute the repayment ?? If so, why ?? Or will the 600k e disappear once AC have distributed the repayment ?? More importantly I'm very tempted to buy a chunk , but given that I'm almost certainly missing something, I'll hold back, at least until I get to grips with what's actually going on here. Also the loan is currently showing as 0% interest, but I assume that's just an platform glitch. Any guidance, (preferably in simple English !) gratefully received. Thanks. Sell now get funds reinvested before rush or at least into QAA before repayment blows cap & creates Q. 0% is because term end reached, system drops it to zero if no time remaining
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