dead-money
Rocket to the Moon
Posts: 746
Likes: 654
|
Post by dead-money on Aug 14, 2020 11:16:59 GMT
Samples for £10K sell / buy
Last 24 hours: 8%, 9%, 10%, 6.6%, 9.25% 7.6%, 6.8%, 8.2%, 8.3% 09:00 Thur 13/08 to Fri 14/08 09:00
Friday 14/08/20: 9am 7.3%, 11am 5.5% briefly, 6.5% @ 12 noon
|
|
|
|
Post by davee39 on Aug 14, 2020 12:33:11 GMT
Could someone tell me the approx current % level of free cash in the access accounts , please ? Am I correct in thinking that every time a repayment is made, AC retain some of the funds to add to the free cash level ? Thanks. I have just calculated cash at 11.8%. Now significantlly higher than the 2% low in March, and the 10% level maintained under normal market conditions. When the freeze ended it fell from 9.6% to 9.2%, the increase is due to the recent £7m+ loan redemption which has not been distributed Something has changed regarding payouts when a major loan repays and no repayments are seen. Before the trolls bite, it would be nice to have some communication from Assetz regarding this retention of repaid funds in the account.
|
|
dead-money
Rocket to the Moon
Posts: 746
Likes: 654
|
Post by dead-money on Aug 14, 2020 12:58:07 GMT
Could someone tell me the approx current % level of free cash in the access accounts , please ? Am I correct in thinking that every time a repayment is made, AC retain some of the funds to add to the free cash level ? Thanks. I have just calculated cash at 11.8%. Now significantlly higher than the 2% low in March, and the 10% level maintained under normal market conditions. When the freeze ended it fell from 9.6% to 9.2%, the increase is due to the recent £7m+ loan redemption which has not been distributed Something has changed regarding payouts when a major loan repays and no repayments are seen. Before the trolls bite, it would be nice to have some communication from Assetz regarding this retention of repaid funds in the account. Question for the audience: did the MLA see a repayment from #985 yet? If it did then, yes it's reasonable to think AAs should see something by now also.
Looking back to #848 funds received 31/07, MLA received repayment late on 03/08
|
|
cb25
Posts: 3,528 
Likes: 2,668
|
Post by cb25 on Aug 14, 2020 13:05:14 GMT
AC playing silly bu**ers with this loan. I raised a Question on the Q&A Q: Of the £7,558,709.84 principal outstanding, how much in total is in (retail) Lenders' Access Accounts? A: As your question is regarding account operation and not loan specific, we have deleted this question.
Two problems with AC's answer 1) very clearly IS a loan specific question 2) they've previously been happy to give breakdown of a loan into Accounts, e.g. loan #227 Question raised 2 Aug 2020
Question: “… How much of this loan is allocated to the now closed PSA account?"
Answer: “The amount currently held by the automated accounts is as follows:
GBBA1 £3,572,755.10
PSA £101,089.69
AA’s £236,700.01
The remaining loan balance is held by MLA investors."
|
|
moony
New Member
Posts: 1
Likes: 3
|
Post by moony on Aug 14, 2020 13:05:35 GMT
I've never posted before but have found everyone's comments to be really helpful. So I thought that I would reply and confirm the MLA received the funds this morning
|
|
cb25
Posts: 3,528
Likes: 2,668
|
Post by cb25 on Aug 14, 2020 13:06:12 GMT
I've never posted before but have found everyone's comments to be really helpful. So I thought that I would reply and confirm the MLA received the funds this morning Thanks for the info and welcome to the forum!
|
|
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 Aug 14, 2020 13:08:10 GMT
I have just calculated cash at 11.8%. Now significantlly higher than the 2% low in March, and the 10% level maintained under normal market conditions. When the freeze ended it fell from 9.6% to 9.2%, the increase is due to the recent £7m+ loan redemption which has not been distributed Something has changed regarding payouts when a major loan repays and no repayments are seen. Before the trolls bite, it would be nice to have some communication from Assetz regarding this retention of repaid funds in the account. Question for the audience: did the MLA see a repayment from #985 yet? If it did then, yes it's reasonable to think AAs should see something by now also. Yes paid about 2hrs ago
|
|
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 Aug 14, 2020 13:17:05 GMT
AC playing silly bu**ers with this loan. I raised a Question on the Q&A Q: Of the £7,558,709.84 principal outstanding, how much in total is in (retail) Lenders' Access Accounts? A: As your question is regarding account operation and not loan specific, we have deleted this question.
Two problems with AC's answer 1) very clearly IS a loan specific question 2) they've previously been happy to give breakdown of a loan into Accounts, e.g. loan #227 Question raised 2 Aug 2020
Question: “… How much of this loan is allocated to the now closed PSA account?"
Answer: “The amount currently held by the automated accounts is as follows:
GBBA1 £3,572,755.10
PSA £101,089.69
AA’s £236,700.01
The remaining loan balance is held by MLA investors."
As i discover on a regular basis, ACs idea of loan specific is very different to the average investors. I asked one yesterday regarding a specific update on a loan relating to its refinance (the only loan where that refinance option is in play) and got the not loan specific reply.
|
|
cb25
Posts: 3,528
Likes: 2,668
|
Post by cb25 on Aug 14, 2020 14:08:23 GMT
Q: Of the £7,558,709.84 principal outstanding, how much in total is in (retail) Lenders' Access Accounts? : Circa £5.7m (From memory of my recent AA holding and consistent with a snapshot I took in April and number crunched) I'd be interested to know how you calculated that.
Anyway, assuming it was ~£5.7m and given this loan was approx 2.836% of my AA holdings, that would suggest the Access Accounts hold just under £201m. Tagging IFISAcava for comparison with your estimate of £220m. This loan's AA component would need to be around £6.24m to give £220m total.
|
|
dead-money
Rocket to the Moon
Posts: 746
Likes: 654
|
Post by dead-money on Aug 14, 2020 15:49:22 GMT
Wednesday 12/08/20: evening 8%, 9%, 10%
Thursday 13/08/20: 8am until 8pm 6.6%, 9.25% 7.6%, 6.8%, 8.2%, 8.3%
Friday 14/08/20: 9am 7.3%, 11am 5.5% briefly, 6.5% @ 12 noon, 6% @ 5pm
|
|
upperdeane
Member of DD Central
Posts: 493
Likes: 245
|
Post by upperdeane on Aug 14, 2020 16:18:51 GMT
Wednesday 12/08/20: evening 8%, 9%, 10%
Thursday 13/08/20: 8am until 8pm 6.6%, 9.25% 7.6%, 6.8%, 8.2%, 8.3%
Friday 14/08/20: 9am 7.3%, 11am 5.5% briefly, 6.5% @ 12 noon, 6% @ 5pm Thanks for these stats @dead-money. Please keep them going  I see 6% right now.
|
|
|
|
Post by samford71 on Aug 14, 2020 18:42:04 GMT
Current touch is 6.6-6.1%
Yesterday afternoon was taken at 6.6% through to 6.2%. Went offered into evening and was given between 7.3% and 8.4%. This morning opened up with some early selling down to 7.4% but then basically bid most of day into mid 5 handle, easing off to current low 6s.
Noticeable that a number of my hanging offers in MLA at -0.5% were scooped up last night and into this morning. Must assume enough money is hitting accounts to help explain both MLA better bid and QAA trending modestly more bid.
Fairly happy to sell in MLA at -0.5%, buy in QAA at -8%ish and sell back at -6%ish. Effectively I'm using QAA to help me get out of my remaining MLA at a premium. Obviously that excludes those eternal loans that defaulted in 2014/15/16 but which are never written off by AC ...
|
|
dead-money
Rocket to the Moon
Posts: 746
Likes: 654
|
Post by dead-money on Aug 15, 2020 7:40:33 GMT
Discount required to sell £1,000 of Access Account holdings:
Wednesday 12/08/20: evening 8%, 9%, 10% Thursday 13/08/20: 8am until 8pm 6.6%, 9.25% 7.6%, 6.8%, 8.2%, 8.3% Friday 14/08/20: 9am 7.3%, 11am 5.5%, 12noon 6.5%, 5pm 6%, overnight 6.8%
Saturday 15/08/20: 8am 6.1% 6pm 6.6%
Sunday 16/08/20: 8am 6.0% 6pm 6.6%
Monday 17/08/20 8am ?? % 12 noon ?? % 6pm ?? %
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Aug 15, 2020 7:50:32 GMT
It seems to be settling around 6%, and my thought is that there will be many offers around 5% which will sit there long-term. 5% being a psychological barrier for a 'small' discount, 10% being a more serious haircut. Rather like the MLA a few months ago.
|
|
dead-money
Rocket to the Moon
Posts: 746
Likes: 654
|
Post by dead-money on Aug 15, 2020 8:20:34 GMT
It seems to be settling around 6%, and my thought is that there will be many offers around 5% which will sit there long-term. 5% being a psychological barrier for a 'small' discount, 10% being a more serious haircut. Rather like the MLA a few months ago. Yep, moving to lower discounts will require significant new money and that needs new loan issuance and other factors to happen.
I was able to buy QAA during first 24hrs at 8-10% and sell out at 6-7%, but no more buys at 8% since then.
An 8% discount on AA paying 3.75% implies a 5.5% return if rundown continues over 5yrs.
(Although I think it's more likely AC will repackage the product before then)
For comparison, I receive a steady 8.1% from my MLA selections with no bad loans held and that should be all paid off within 18 months.
|
|
