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Post by vonasi on Jan 31, 2020 20:15:49 GMT
I notice that I am now unable to add instructions to pipeline loans in my manual lending account. Also all previous instructions that I had set up have now been deleted.
I always like to set up instructions on pipeline loans as I noticed that quite often loans seem to miss the upcoming loans section completely and then get completely filled. I was suspecting that this was AC cherry picking for the other lending products to ensure they got the good loans at good rates so I go in every day and add instructions to new pipeline loans to ensure that I have at least a small chance of getting in on at least some of all the new loans to help with diversification but it seems something has changed and I can now no longer do this. Why not?
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Post by Ton ⓉⓞⓃ on Jan 31, 2020 20:30:35 GMT
I notice that I am now unable to add instructions to pipeline loans in my manual lending account. Also all previous instructions that I had set up have now been deleted. I always like to set up instructions on pipeline loans as I noticed that quite often loans seem to miss the upcoming loans section completely and then get completely filled. I was suspecting that this was AC cherry picking for the other lending products to ensure they got the good loans at good rates so I go in every day and add instructions to new pipeline loans to ensure that I have at least a small chance of getting in on at least some of all the new loans to help with diversification but it seems something has changed and I can now no longer do this. Why not?
I pretty much did the same thing. I guess it's to do with loans/proposals in the pipeline don't have all the info for us to make an informed decision i.e. no VR etc. I think one of the last bits of info (opinion?) they add is the risk category. Eventually, if all works out, it gets into the drawing stage and underwriting and it's at that point that we can now put on an MLA buy (or sell) figure. This is likely to be all down to the FCA protecting us from ourselves.
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Post by df on Jan 31, 2020 20:51:40 GMT
I notice that I am now unable to add instructions to pipeline loans in my manual lending account. Also all previous instructions that I had set up have now been deleted. I always like to set up instructions on pipeline loans as I noticed that quite often loans seem to miss the upcoming loans section completely and then get completely filled. I was suspecting that this was AC cherry picking for the other lending products to ensure they got the good loans at good rates so I go in every day and add instructions to new pipeline loans to ensure that I have at least a small chance of getting in on at least some of all the new loans to help with diversification but it seems something has changed and I can now no longer do this. Why not? I used to do it few years ago, but stopped when realised that I can get a slice in any loan when it is listed live (even when it shows £0 available).
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Post by vonasi on Jan 31, 2020 22:16:08 GMT
I think that you only get something in loans that show £0 available because when you are not looking at the screen something becomes available and your order gets filled.
I used to just put orders on upcoming loans but then I noticed that some new loans were getting completely filled and I had never ever seen them in upcoming loans despite looking every day so I wrote to AC asking about it. It was because of their answer that I noticed that I was able to add instructions to pipeline loans so I started doing that - but now that has gone.
Now I have to search for loans and filter them to see if I have missed out on any that jumped from pipeline to live loans and missed upcoming or were in upcoming for so short a time that I missed them.
I assumed too that it was to do with new guidelines and not accepting orders on loans that were not risk finalised. It would be nice to have AC confirm this and it would also be nice to have them ensure that all new loans are in upcoming loans for a period of say 24 hours so that we all get a chance to place instructions before they disappear into live loans and are completely filled.
Thanks for the welcome Ton. I have been a forum reader for a long time and have been doing P2P since the early days. I've had a few duff loans in that time and one platform go belly up (just after I started using it!) but overall P2P has been my best investment for many years now.
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sl75
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Post by sl75 on Jan 31, 2020 22:45:34 GMT
Possibly another aspect is that AC have often changed the terms of loans in the pipeline, in ways that have been material to lender's decisions, and NOT suspended existing offers to allow lenders to review the new information (e.g. I've sometimes had buying instructions executed that were entered on the basis of a 8% loan that was actually 7% by the time it launched)
Personally I'd have preferred a change in the opposite direction - add a "risk category" column on the upcoming loans section so that I didn't need to open each and every one to find out which have a risk category added already so that I can take it into account in the initial buy instruction, and have the system automatically pause all buying instructions when a material change is made to the conditions of a pipeline loan.
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p2pfan
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Post by p2pfan on Feb 3, 2020 13:00:19 GMT
This is an extremely negative development.
I don't have the time to login to AC very regularly and so used to set buying instructions on quite a few "Pipeline" loans at once, so that when they went into drawdown they could hopefully allocate a share of the loan to me.
Now that AC have bizarrely killed this feature and you can only bid on a loan at "Upcoming Loans"/"underwriting called" stage, this means you have to login to AC regularly to see which loans are at that stage and only then bid.
At the moment, there is only one loan there, under "Upcoming Loans".
Alongside all the other regressive measures AC has introduced, this is the final nail in the coffin for this platform for me and I will be focusing on lending via other P2P platforms going forward.
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p2pfan
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Post by p2pfan on Feb 7, 2020 19:17:33 GMT
Several days ago I spent countless hours setting up investments in pipeline loans. All have been deleted now by AC thanks to their wonderful new development. Thanks guys.
I'm checking now and there's not a single loan available in "upcoming loans".
This new situation means having to keep a regular eye there to see if any loans go from "pipeline" to "upcoming" status, so one can make a loan offer. Is there any way of being notified of this?
Don't know why AC keep making changes to make matters as difficult as possible for their lenders.
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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 Feb 7, 2020 19:27:34 GMT
Several days ago I spent countless hours setting up investments in pipeline loans. All have been deleted now by AC thanks to their wonderful new development. Thanks guys. I'm checking now and there's not a single loan available in "upcoming loans". This new situation means having to keep a regular eye there to see if any loans go from "pipeline" to "upcoming" status, so one can make a loan offer. Is there any way of being notified of this? Don't know why AC keep making changes to make matters as difficult as possible for their lenders. I get emails when a loan enters the upcoming so I guess you need to look at your communications settings Is it AC or the need to comply with the new FCA rules? - timing would suggest the latter, though AC are known for erring on the side of caution when it comes to regulation.
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warn
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Post by warn on Feb 10, 2020 15:10:37 GMT
I get emails when a loan enters the upcoming so I guess you need to look at your communications settings Just to say, #1252 just whistled through without any email. It did have a brief showing in "Upcoming", but I'm pretty sure some even bypass that.
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p2pfan
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Post by p2pfan on Feb 11, 2020 13:47:12 GMT
Thank you very much.
My notifications for upcoming loans were off, as I didn't want my email inbox flooded with every new loan going live and preferred to pre-bid for them. So I used to login to AC once every several days and bid on loans scheduled to go live in the future that had their documentation uploaded and so I could do my due diligence on.
Now that AC have decided they won't let lenders allocate lending amounts in advance (it's got nothing whatsoever to do with the FCA) one would have to login very regularly to bid on loans at the "Upcoming Loans" stage of drawdown. I haven't got the time or inclination to do that, particularly when the returns are a measly 6% or so.
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Post by stuartassetzcapital on Feb 11, 2020 16:24:32 GMT
It is very much an FCA thing though. Loans cannot be promoted without the the current type of risk pricing that the new regulations require and that can only now be done after extensive due diligence and at the end of the process when all information is available. Providing early ability to invest in loans without all knowledge factored into the newly required process for investors’ pricing for risk would be non compliant.
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Post by capricorn on Feb 17, 2020 0:51:26 GMT
It is very much an FCA thing though. Loans cannot be promoted without the the current type of risk pricing that the new regulations require and that can only now be done after extensive due diligence and at the end of the process when all information is available. Providing early ability to invest in loans without all knowledge factored into the newly required process for investors’ pricing for risk would be non compliant. OK, that makes sense and seems very sensible. Related to this though, what I can't understand is the occasional loan that draws down and soon after has its trading suspended e.g. #1257 drew down during the day on Friday and by Friday evening was 'trading suspended' while it was reviewed for a possible change in Risk Category or Capital Value. What can have happened in those few hours? The only thing that makes sense to me here is the loan is being allocated to the access accounts and not being released to MLA investors at the same time. Any other ideas anyone?
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