j
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Penguins are very misunderstood!
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Post by j on Jul 4, 2014 15:05:49 GMT
Indeed, as coded if a loan is late it can't be listed for sale. We're reviewing this with much internal debate but that's how it currently stands. Then you have a problem with updating your records. Let me give you an example. Go to the Completed Loans listed on the AM. Look at auction No 67. Look at the documentation and the payment record and you will see there is no record of payment for July! It's due on 14th July, so won't show till then
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Jul 4, 2014 15:16:26 GMT
So I am a prat then. Thought I was in August with all this sunshine. Sorry folks for the false alarm but I would still like to see a listing of late payers.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Jul 4, 2014 15:19:43 GMT
So I am a prat then. Thought I was in August with all this sunshine. Sorry folks for the false alarm but I would still like to see a listing of late payers. Ah - your problem is not living in East Lancs then - it's piddling up here 
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Post by Come_on_Grandad on Jul 4, 2014 15:20:31 GMT
So I am a prat then. Thought I was in August with all this sunshine. Sorry folks for the false alarm but I would still like to see a listing of late payers. Well, you were close. Look at auctions 68, 69 and 70
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Jul 4, 2014 15:26:09 GMT
Ah - your problem is not living in East Lancs then - it's piddling up here 28C and not a cloud in the sky here in London - sorry to rub it in, but at least the East Lancashire money trees should be fruitful.  Yes I know - I've been watching the antics in the dust bowl (AKA Wimbledon Centre Court) this afternoon 
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Jul 4, 2014 15:46:53 GMT
Just to console you folks for my stupidity earlier it is Hissing down here in West Wales and also rained most of the day yesterday!
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agent69
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Post by agent69 on Jul 5, 2014 17:35:05 GMT
Lots of Staffy property on the AM and no signs of it shifting any time soon.
Couple had a decent business for many years and then (on the advice of an expert) took on a load of debt to finance a new venture. All sounds similar to a Welsh hotel?
Think I'll give this one a miss.
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tonyr
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Post by tonyr on Jul 5, 2014 18:43:07 GMT
I like A&P and Aber - people make mistakes - better to have tried and failed than not to have tried.
There's a good chance that someone who has listened to an "expert" won't do so again - which is a lot better then most of the loans we invest in.
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Post by bengilbert on Jul 10, 2014 13:35:48 GMT
It seems to me there are 3 separate issues/types of loans that are sitting there in size:
1) Bridging loans with just a month or two left to run, which people may be listing just in case someone will buy it off them and relieve them of the risk of non-repayment after they've collected the interest for most of the loan's life
2) The L***n R***l loan which people have decided they don't like the look of
3) Big loans that drew down relatively recently
The loans in (3) have already sold down in reasonable size, current lenders might already more or less have their fill but they may look attractive to new lenders, so I would expect them to sell down further over the next few weeks.
When loans outside of these categories are listed, they seem to go relatively quickly, even when tens of thousands of pounds worth go on. If I'm right, the L***s C***l P***y and perhaps even Y***e L***e loans won't be about for too long.
Some people may be pausing to see what happens with the loans which currently have some question marks against them. The outcomes could lead to a repricing of risk, in either direction.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Jul 10, 2014 13:50:34 GMT
Anyone got a theory why there is so much on the aftermarket? There is some serious indigestion (over £3mm on offer) and its seems little is actually being lifted. Possibly this the payback from the cashback offer in April. I remember being concerned how underwriters would get out of their positions in March and then AC came up with a short term fix through the cashback offer. Problem is that just causes some to overinvest and if they want to get out, you just recreate the same issue downstream. Seems we just need a lot more lenders ... It's more likely due to the change in the way they fill the loans as Andrew said in this post when it was discussed on another thread a few days ago.
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Post by Ton ⓉⓞⓃ on Jul 10, 2014 17:15:08 GMT
ramblin rose, samford71 and bengilbert I can't agree more, one more reason is that we had a week or two of 'dry period'; we're now in the monsoon period. In that dry period it seems that AC had the same flow of loans as before but kept them off site so they could do more of the DD steps before they present them for auction so that they get drawn quicker. As loans seem to be getting drwn quicker this has caused more people to have to sell in greater values to get into the new loans, then the market hits log-jam mode and people start to tre and sell even more to fulfill their shad-bid. I've put for sale 50% more than I want to sell as many purchases are on a chance basis. What I mean is if there is £100k of a particular old loan on the AM that I hold and want to flip some into a new loan, if I put one unit on the AM I've no chance of having a sale but if I put up £10k I have a one in ten chance now of making a sale. In summary then; A large number of loans has suddenly appeared, drawdown's quicker meaning less notice to produce the money and the AM is log-jammed and also the greater the number of new loans the more people sell. (I think drawdown is getting quicker I know there's little to support this) Another reason I think being our growth curve £100m year end, as a business we're trying to stick to that curve if the Lenders like it or not. As a result we're now getting some lag in take up perhaps because the dry period (i.e. the curve is very rough and lumpy). The business seems to be ahead of it's Lender base just slightly too far, but I'm told that 2,500 sign up every month... IN EDIT Others have seen the 25bpts difference between the wind deal on the AM and the two wind proposals.
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mikes1531
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Post by mikes1531 on Jul 11, 2014 14:56:37 GMT
Set your AI target to your current holding and it will delist loan units for you. This feature will make its way to the manual screens in the next few weeks but for now you can use AI to do it for you. I take it chris that your method works if you bought them manually or you had AI buy them in some fashion? I ask, as about two days ago someone was saying that if you bought them by hand AI wouldn't unsell them i.e. remove them from sale. I've experienced this sort of thing aswell. Is anyone having problems with this? I certainly am. I did what Ton ⓉⓞⓃ did above, offering for sale more units than I really wanted to sell. Those were in loans that already had large amounts offered in the Aftermarket. That was partly to increase the chance that my units would be selected when a buy request came in, and partly because I didn't know which loans people might want to buy parts of. So I over-offered. Once I raised the amount of cash I wanted I then wanted to take my remaining 'For sale' units out of the market. I increased my AI target for those loans to my remaining holding and expected AI to delist all my units -- but it didn't. I still have a number of units for sale, and some have been sold since. Right now my AI target is above my holding, my AI Mandate has permission to buy (but not sell), there's cash in my account, there are units available in the AM (including mine) and AI is doing nothing for me. I can't buy my own units back because I can't find them among the £282k of Epp*** or £295k of Ip***** units currently available for sale. Anyone have any suggestions?
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Post by chris on Jul 11, 2014 15:32:53 GMT
I've just fixed a bug in the code that was supposed to delist loan units from sale. It was delisting them, just slowly at a rate determined by your balance which was clearly erroneous. Should be all fixed now.
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mikes1531
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Post by mikes1531 on Jul 11, 2014 15:39:44 GMT
I'm sure a nicely worded email to AC would do the trick, and if everyone started to do that, admin might put some pressure on the tech team to add that functionality! I'm hoping that the imminent changes will address all these issues, but will it be in time? There is always the manual option of checking just before midnight if any have sold, and top up, as there are plenty available. I've raised the issue directly with AC earlier this week, and they're looking into it. Subsequently I asked them to take my units off sale manually, and that request also has been referred to the 'developers'. I have been redeploying my money manually as units have been sold and, now that the issue of reserving funds for pre-bids on limbo loans has been sorted, AI has bought the occasional unit for me. But hopefully this can be sorted soon so that the system works as advertised, though if everything is going to change with the promised system update then perhaps I shouldn't be distracting the developers with my problem and allowing them to get on with the big update.
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mikes1531
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Post by mikes1531 on Jul 11, 2014 15:43:36 GMT
I've just fixed a bug in the code that was supposed to delist loan units from sale. It was delisting them, just slowly at a rate determined by your balance which was clearly erroneous. Should be all fixed now. That's done it, chris. Thanks for being so efficient. Have a good weekend.
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