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Post by chris on Jun 9, 2016 16:39:14 GMT
OK, I got some things wrong. Mea culpa et paenitet me. I am not going to make statements that I cannot keep in future. First point to make is that competition in this market is even more fierce and we lost some deals to others at a lower price. I stand by my principles and will not take deals just for the sake of volume. I run a business and that business needs to make money, plus lenders need to make a return commensurate with the risk. We came under fierce criticism when rates were dropping, yet we still need to offer competitive rates to borrowers. There is a fine balance. Second point is that we have increased head count substantially in recent weeks and these people will take a little while to bed in. However, the pipeline looks strong and we have been listing 2-3 deals per week for underwriters in May and I expect that to be 3-5 per week in June and steadily increasing. Time will tell. I can assure you the account has a future. We have worked hard in recent weeks to secure new deals for the account. These will be coming on to the platform soon. Keep calm, I hear your concerns and I am working hard to resolve them. A Andrew, would you comment on the future now.... The future of the account is more in the hands of stuartassetzcapital now as he is responsible for our origination strategy. I did quiz him last night on this though and was assured that a solution is in the works hopefully within a 60 - 90 day time frame. Not sure if I can say any more now so I'll defer to Stuart if he wants to give any more details.
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Tony
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Post by Tony on Jun 9, 2016 17:02:04 GMT
Thank you Chris, yes it would be good if Stuart could comment, but 60 to 90 days, that's a big ask for us punters who have just seen two loans pay back and are now sitting on a heap of cash with the QAA full.
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Post by chris on Jun 9, 2016 17:45:25 GMT
As I understand it that's the timeframe until a steady stream of new loans starts coming on board. In the mean time there are a couple of loans in the pipeline plus the QAA will have capacity within a couple of weeks if all goes according to plan.
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sl75
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Post by sl75 on Jun 28, 2016 15:12:16 GMT
I see that most of the GEIA-eligible loans have updates indicating they're anticipating a full repayment soon as the owner was planning to sell their wind turbine portfolio...
If that goes ahead, surely the GEIA will be a dead duck - anyone for triggering a no-confidence vote in the GEIA?
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jonah
Member of DD Central
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Post by jonah on Jun 28, 2016 17:59:49 GMT
There is at least one likely Geia eligible loan in the pipeline, but yes, I suspect that the writing is on the wall for Geia in its current 7% form.
That said, I had a few small purchases in mine today, which is a change. Possibly people jumping before they are pushed by the loans being redeemed though.
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Post by crabbyoldgit on Jul 7, 2016 18:58:53 GMT
After the upcomming repayments, the value of the fund will fall substantially.However the value of the provision fund will not.I have not done any sums , but i suspect the value will exceed 5% of the remaining loan book value.Now if there is a surpluss what will AC do.
1 Grab the money to increase their bottom line.
2 Transfer funds to improve the provision funding of the other managed funds.
3 Retain the funds within the geia, to maintain the provision fund %,if they manage to find new geia loans.
4 Give geia members a cash bonus!!!
5 Take me and old grummpy to the pub for a night we both will not remember?.
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Liz
Member of DD Central
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Post by Liz on Jul 7, 2016 19:12:25 GMT
After the upcomming repayments, the value of the fund will fall substantially.However the value of the provision fund will not.I have not done any sums , but i suspect the value will exceed 5% of the remaining loan book value.Now if there is a surpluss what will AC do. 1 Grab the money to increase their bottom line. 2 Transfer funds to improve the provision funding of the other managed funds. 3 Retain the funds within the geia, to maintain the provision fund %,if they manage to find new geia loans. 4 Give geia members a cash bonus!!! 5 Take me and old grummpy to the pub for a night we both will not remember?. I think they should take you and monkey out for lobster.
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Post by bracknellboy on Jul 7, 2016 19:17:14 GMT
After the upcomming repayments, the value of the fund will fall substantially.However the value of the provision fund will not.I have not done any sums , but i suspect the value will exceed 5% of the remaining loan book value.Now if there is a surpluss what will AC do. 1 Grab the money to increase their bottom line. 2 Transfer funds to improve the provision funding of the other managed funds. 3 Retain the funds within the geia, to maintain the provision fund %,if they manage to find new geia loans. 4 Give geia members a cash bonus!!! 5 Take me and old grummpy to the pub for a night we both will not remember?. : love the last line. But most of all, congratulations on having found the full stop key, and for using it periodically. 
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jonah
Member of DD Central
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Post by jonah on Jul 7, 2016 20:01:59 GMT
After the upcomming repayments, the value of the fund will fall substantially.However the value of the provision fund will not.I have not done any sums , but i suspect the value will exceed 5% of the remaining loan book value.Now if there is a surpluss what will AC do. 1 Grab the money to increase their bottom line. 2 Transfer funds to improve the provision funding of the other managed funds. 3 Retain the funds within the geia, to maintain the provision fund %,if they manage to find new geia loans. 4 Give geia members a cash bonus!!! 5 Take me and old grummpy to the pub for a night we both will not remember?. They have already reduced the GEIA PF a chunk and I expect can do so again. See the figures in the thread about the email of the 26th. So probably a bit of 1 and 3.
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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 Jul 7, 2016 20:10:55 GMT
5 Take me and old grummpy to the pub for a night we both will not remember?. You might not remember, but I expect it will come flooding back to Grumps when he feels itchy somewhere inappropriate 
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Nov 3, 2016 14:22:54 GMT
There is at least one likely Geia eligible loan in the pipeline, but yes, I suspect that the writing is on the wall for Geia in its current 7% form. That said, I had a few small purchases in mine today, which is a change. Possibly people jumping before they are pushed by the loans being redeemed though. OK here it comes: GEIA 7% days are numbered - email today. Any guesses about the rate for GEIA Series II? With current deals (which show 15-25% ish LTV quoted, but that is only for Tranche 1 - the eventual LTV is around 70%) being offered at 8% to MLIA I would expect 6% for the Series II. I hope AC doesn't expect to "get away with" less - not that it affects me.
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jonah
Member of DD Central
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Post by jonah on Nov 3, 2016 20:30:54 GMT
5.5%
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iren
Member of DD Central
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Post by iren on Nov 4, 2016 12:54:51 GMT
Perhaps 2.36%, so that they just pip the best rate on offer from Wellesley. |
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