brianlom1
Member of DD Central
He's not the Messiah, he's a very naughty boy!
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Post by brianlom1 on Jun 4, 2021 17:09:34 GMT
ablrate - with a large proportion of loans currently paused, the best way to improve liquidity would be to make these loans tradeable (at whatever discount the buyer and seller agree upon) - please advise when this option will be introduced There are a number of FCA requirements that would appear to need to be met for that to be possible ... revaluation of the loan agreement, loan pricing, risk categorisation in relation to the risk management framework (not that I can locate that on the platform) Would also probably need some form of statement highlighting the tax implications of purchasing a loan in some form of legal recovery - ie ineligibility for loss relief - if those loans were made available But still doable, right?
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ilmoro
Member of DD Central
'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 4, 2021 18:21:09 GMT
There are a number of FCA requirements that would appear to need to be met for that to be possible ... revaluation of the loan agreement, loan pricing, risk categorisation in relation to the risk management framework (not that I can locate that on the platform) Would also probably need some form of statement highlighting the tax implications of purchasing a loan in some form of legal recovery - ie ineligibility for loss relief - if those loans were made available But still doable, right? Eminently. In fact I would suggest it's all stuff they probably should have done already ... bar the tax bit. Meanwhile in other news A&TC appear to have a new finance director ... no prizes for guessing where he also works
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Jun 4, 2021 19:18:17 GMT
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Post by ladywhitenap on Jun 4, 2021 20:08:48 GMT
Seems the new FD at A&TC has not used his middle name of "please sir can I have some more" in the companies house appointment. Add in his middle name and up to another 10 appointments appear.
LW
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Jun 4, 2021 20:32:49 GMT
No diligent and respectable financial platform, p2p or not, is going to allow it's clients to unknowingly or inadvertently purchase distressed or defaulted loans. Proplend certainly doesnt, any loans or borrower linked loans with a history of issues are likely to stay off the secondary market right through to maturity. Any number of "diligent and respectable financial platforms" allow trading in "junk bonds". A distressed loan usually has a value, taking into account the risk:reward ratio, especially if secured . The market can set the price. And no loan, no matter how un-distressed is worth as much as the cost price plus the NPV of the expected interest. It's not black and white, just a matter of degree.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,870
Likes: 11,097
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Post by ilmoro on Jun 4, 2021 23:55:32 GMT
Amongst others ... several companies that rhyme with muddle
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blender
Member of DD Central
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Post by blender on Jun 5, 2021 7:56:50 GMT
I think that 'finance director' is the occupation of the said person, and not necessarily the role he will play in ATC. It is a concerning development in my view, especially without any announcement or word from Ablrate. What does it mean for the relationship between the two platforms and for Ablrate loans being tradable in future?
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GreenZero
Member of DD Central
The early bird may get the worm, but it's the second mouse who gets the cheese
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Post by GreenZero on Jun 5, 2021 8:11:16 GMT
I think that 'finance director' is the occupation of the said person, and not necessarily the role he will play in ATC. It is a concerning development in my view, especially without any announcement or word from Ablrate. What does it mean for the relationship between the two platforms and for Ablrate loans being tradable in future? That's how I read it too.
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Post by ablrate on Jun 5, 2021 11:48:55 GMT
When you go into a loan via 'trade', say for instance on 154; click on the 100% to see the list of trades & there is a long list that I cannot see the top of. Is there a way of scrolling up to see the top ? Whilst I haven't managed to scroll up, the following steps (in Windows using Chrome) helps list the bid entries which are not visible: Click on the bid entry for 100% ... Window pops with a list of individual bids... Click anywhere on this pop up window to make it the active window..... Ctrl+A to highlight and 'Select All' items..... Ctrl+C to Copy this selection.... Ctrl+V to Paste the selection in any blank document (Word or any editor). This provides the full breakdown of the 100% bids. hmmm... that doesn't seem very efficient. leave it with me will change.
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Post by ablrate on Jun 5, 2021 11:50:37 GMT
There are a number of FCA requirements that would appear to need to be met for that to be possible ... revaluation of the loan agreement, loan pricing, risk categorisation in relation to the risk management framework (not that I can locate that on the platform) Would also probably need some form of statement highlighting the tax implications of purchasing a loan in some form of legal recovery - ie ineligibility for loss relief - if those loans were made available But still doable, right? As we have said before it is something we like to do, but making sure that all the rules have been complied with is tricky... but I am sure at some stage doable.
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Post by ablrate on Jun 5, 2021 11:57:34 GMT
I think that 'finance director' is the occupation of the said person, and not necessarily the role he will play in ATC. It is a concerning development in my view, especially without any announcement or word from Ablrate. What does it mean for the relationship between the two platforms and for Ablrate loans being tradable in future? Nothing to see here. We will introduce him next week. One of things that we have taken on board is that communications have slipped from what they once were. This is function of time with management being stretched in a number of directions especially with Covid over our heads. We are now in position to begin beefing up resources, while still maintaining Yorkshire frugality! We don't need a full time FD, so he is a resource when required and he knows our book and the commercial lending space and has also worked in the turnaround arena. All of this makes him a great fit. ...and he is a nice chap.
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Post by ablrate on Jun 5, 2021 12:02:53 GMT
You may be please to knw also that the repayment section is coming to ASMX, probably next week. It will allow documents to be downloaded directly from ASMX and payments data to be seen.
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Post by overthehill on Jun 5, 2021 14:00:54 GMT
No diligent and respectable financial platform, p2p or not, is going to allow it's clients to unknowingly or inadvertently purchase distressed or defaulted loans. Proplend certainly doesnt, any loans or borrower linked loans with a history of issues are likely to stay off the secondary market right through to maturity. Any number of "diligent and respectable financial platforms" allow trading in "junk bonds". A distressed loan usually has a value, taking into account the risk:reward ratio, especially if secured . The market can set the price. And no loan, no matter how un-distressed is worth as much as the cost price plus the NPV of the expected interest. It's not black and white, just a matter of degree.
Crowdproperty / Proplend / Kuflink loans and junk bonds ? What kind of comparison is that ? No reputable p2p company is going to treat their loans like bond trading or allow trading of loans with broken covenants, uncovered non-disclosures, compromised valuation, late payments or in default. I don't know what Ablrate plan to do with their asmx but I won't be participating. Investors need to be aware that tranches of the same loan are still trading when other tranches have interest payments in arrears, same applies to other loans of the same borrower !
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Jun 5, 2021 14:17:57 GMT
Any number of "diligent and respectable financial platforms" allow trading in "junk bonds". A distressed loan usually has a value, taking into account the risk:reward ratio, especially if secured . The market can set the price. And no loan, no matter how un-distressed is worth as much as the cost price plus the NPV of the expected interest. It's not black and white, just a matter of degree.
Crowdproperty / Proplend / Kuflink loans and junk bonds ? What kind of comparison is that ? No reputable p2p company is going to treat their loans like bond trading or allow trading of loans with broken covenants, uncovered non-disclosures, compromised valuation, late payments or in default. I don't know what Ablrate plan to do with their asmx but I won't be participating. Investors need to be aware that tranches of the same loan are still trading when other tranches have interest payments in arrears, same applies to other loans of the same borrower !
I'm not sure that someone with your risk appetite should be investing in p2p at all.
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Post by moneymagnet on Jun 5, 2021 21:24:22 GMT
ablrate, There appears to be a problem with the 'Chart' section on ASMX for loan 1000158. The trading range does not appear to be accurately reflected in the positioning of the chart elements. This functionality appears to be working for other loans. The chart was functioning correctly when the loan launched but seemed to stop working properly a few days ago.
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