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Post by ladywhitenap on Feb 27, 2020 11:06:21 GMT
ablrate I'm a big fan of ABL especially in the way they really work hard to resolution of difficult loans and appreciate that must take lots of their time but on the other hand, repayments and interest are building up in my IFISA using about 1/2 my allowance and I want to bung in another £10K or so to fill it up before the end of the tax year, so I'm looking for new loans. I'm up to my comfort level with exisiting loans up via the SM so I'm looking for new loans and ideally new borrowers. What do others think about the apportionment of ABL effort between resolution/restructuring and acquisition of new quality loans. This really is NOT a dig at ABL, just wondering how others see the balance and indeed how ABL feel about it? LW
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copacetic
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Post by copacetic on Feb 27, 2020 11:14:22 GMT
If you have the cash on hand you can put in £10k on 5th of April and withdraw it on the 6th then just drip it back in if/when new loans become available.
It's probably for the best that Ablrate don't go down the route of relaxing their standards on loan acceptance like Lendy/FS. That said it's not in their interests to go MT's way either.
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Balder
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Post by Balder on Feb 27, 2020 11:16:43 GMT
If they are going to succeed in the long term they have no option other than doing both and having a business model that supports that.
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Post by ladywhitenap on Feb 27, 2020 11:44:46 GMT
snip
It's probably for the best that Ablrate don't go down the route of relaxing their standards on loan acceptance like Lendy/FS. That said it's not in their interests to go MT's way either.
copacetic Absolutely agree and we have already seen at least a couple of loans withdrawn after extended DD effort from contributors here where ABL had not picked up issues. LW
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Post by Ace on Feb 27, 2020 13:52:18 GMT
I agree with the above comments.
I also wonder whether it's time for ABL to try some loans at lower rates. I know MT were intending to try this, but didn't appear to find any, not sure why.
I tend to let my lending limits on ABL rise as profits come in by fixing my limits to a percentage of my ABL pot. I initially started with a limit of 4% of my ABL pot per loan, but quickly realised that it was virtually impossible to get the pot fully lent out given the number of loans. This was even more difficult when I decide to add a restriction of 5% per borrower.
Now that over 20% of my pot is from profits, I've relaxed the limits to 5% per loan and 10% per borrower. It would now take total losses on more than 4 of my loans, or 2 of the borrowers for me to make an overall loss.
I don't invest in all loans, as there are some that I'm not so keen on, which also varies over time.
I do sometimes break my "limits" where I feel particularly comfortable. I did this on the h*lyw*ll loans, which felt particularly good value, and would probably do so on the pea one (can't really use asterisks there!) loans if more were released.
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blender
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Post by blender on Feb 27, 2020 17:22:41 GMT
I don't think that Ablrate is prevented in working on origination because of time spent on managing loans. Origination has always been very slow, and I think it is because they look for loan applications which have failed to attract conventional finance probably because of complexity rather than risk. Ablrate are willing to put the time in on complex assessments in return for high rates in which they share the interest (as fees). It does not always work! I do not see Ablrate competing with, say, Assetz.
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Post by ablrate on Feb 29, 2020 13:39:35 GMT
We have been working very hard on the new site, the delivery of the new secondary market alongside the delivery of new loans. As you will be aware we believe that liquidity and diversification is the key to making this market safer and more mature, so we want to do more of both. What we want to bring to you is excellent returns with more risk management tools.
Recoveries and resolutions are just a fact of life in the lending business but we believe we have a good structure for dealing with those. In the coming months you will see some changes with Ablrate that are aimed at giving you a better experience, more diversification and more liquidity. We have a robust model (we are running at a profit and have been now for three years) but we believe that with the experience we have we can now deliver more for lenders. So while there is a bit of doom and gloom around, we are pretty excited about this year.
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number5
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Post by number5 on Feb 29, 2020 21:59:44 GMT
We have been working very hard on the new site, the delivery of the new secondary market alongside the delivery of new loans. As you will be aware we believe that liquidity and diversification is the key to making this market safer and more mature, so we want to do more of both. What we want to bring to you is excellent returns with more risk management tools. Recoveries and resolutions are just a fact of life in the lending business but we believe we have a good structure for dealing with those. In the coming months you will see some changes with Ablrate that are aimed at giving you a better experience, more diversification and more liquidity. We have a robust model (we are running at a profit and have been now for three years) but we believe that with the experience we have we can now deliver more for lenders. So while there is a bit of doom and gloom around, we are pretty excited about this year. Is there an updated timeframe when we can expect the new site and secondary market to go live?
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Post by ablrate on Mar 9, 2020 7:58:45 GMT
We have been working very hard on the new site, the delivery of the new secondary market alongside the delivery of new loans. As you will be aware we believe that liquidity and diversification is the key to making this market safer and more mature, so we want to do more of both. What we want to bring to you is excellent returns with more risk management tools. Recoveries and resolutions are just a fact of life in the lending business but we believe we have a good structure for dealing with those. In the coming months you will see some changes with Ablrate that are aimed at giving you a better experience, more diversification and more liquidity. We have a robust model (we are running at a profit and have been now for three years) but we believe that with the experience we have we can now deliver more for lenders. So while there is a bit of doom and gloom around, we are pretty excited about this year. Is there an updated timeframe when we can expect the new site and secondary market to go live? The new secondary market is being tested and it really is awesome. I would expect it to be launched at the end of the month all being well. The new UI is unlikely to be launched at the same time as we are contemplating a complete rebuild. We are committed to making Ablrate a totally self-select model and as such there are many more tools we believe we can add for lenders to make the information flow better, improve risk management etc... so it may be that we do a rebuild so the new UI would be a few months away.
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TitoPuente
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Post by TitoPuente on Mar 9, 2020 8:05:12 GMT
This is all great, but lenders will appreciate a lot more that efforts and resources are dedicated to improving the deal flow in quantity, quality and diversity.
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Post by ablrate on Mar 9, 2020 9:01:38 GMT
This is all great, but lenders will appreciate a lot more that efforts and resources are dedicated to improving the deal flow in quantity, quality and diversity. The two are not mutually exclusive. We have a view on the market and where its going and we believe that we need to constantly review our technology, we are currently interviewing for more business development, but also developing new techonolgy to assist lenders in managing their portfolio.
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number5
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Post by number5 on Mar 9, 2020 9:47:37 GMT
Is there an updated timeframe when we can expect the new site and secondary market to go live? The new secondary market is being tested and it really is awesome. I would expect it to be launched at the end of the month all being well. The new UI is unlikely to be launched at the same time as we are contemplating a complete rebuild. We are committed to making Ablrate a totally self-select model and as such there are many more tools we believe we can add for lenders to make the information flow better, improve risk management etc... so it may be that we do a rebuild so the new UI would be a few months away. Are you able to shed any light on the highlights of this new awesome SM? Or is it all a secret
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macq
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Post by macq on Mar 9, 2020 12:19:15 GMT
Is there an updated timeframe when we can expect the new site and secondary market to go live? The new secondary market is being tested and it really is awesome. I would expect it to be launched at the end of the month all being well. The new UI is unlikely to be launched at the same time as we are contemplating a complete rebuild. We are committed to making Ablrate a totally self-select model and as such there are many more tools we believe we can add for lenders to make the information flow better, improve risk management etc... so it may be that we do a rebuild so the new UI would be a few months away. From previous answers we know we will at some point be able to buy loans on the SM from a small selection of other platforms all in One place - but will this include the chance to do DD in One place or is it just seeing a loan for sale?
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Post by ablrate on Mar 9, 2020 12:45:00 GMT
There will be a website for the platform being launched in a week or so, so you will see all of the info there. Basically initially it will be just for individual platforms. I.e any p2p platform can intergrate it for themselves, so if you don't like another platforms SM, or they don't have one, we hope that they will consider integrating ASMX as their SM technology. It has been built so as to make auto buying and selling a reality, easier access for legacy trading systems and geared to work with our new underwriter program.
Ultimately the aim is to connect all integrated platforms. Ref the due diligence, the work is being done at the moment for the loan communication system.. i.e where due diligence can be done. We are also looking at other due diligence solutions to enhance due diligence information across all integrated platforms.
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number5
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Post by number5 on Mar 9, 2020 13:21:17 GMT
There will be a website for the platform being launched in a week or so, so you will see all of the info there. Basically initially it will be just for individual platforms. I.e any p2p platform can intergrate it for themselves, so if you don't like another platforms SM, or they don't have one, we hope that they will consider integrating ASMX as their SM technology. It has been built so as to make auto buying and selling a reality, easier access for legacy trading systems and geared to work with our new underwriter program. Ultimately the aim is to connect all integrated platforms. Ref the due diligence, the work is being done at the moment for the loan communication system.. i.e where due diligence can be done. We are also looking at other due diligence solutions to enhance due diligence information across all integrated platforms. So is my understanding correct in saying that all platforms will become one on the SM? I.e. ABL lender can trade an AC or FC loan, without being actually being a current lender on those? What about all your funds...interest payments etc. Do they all remain in ABL or transfer across to another platform?
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