niceguy37
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Post by niceguy37 on Mar 8, 2017 11:11:20 GMT
It's not easy to tell without detailed stats on the MLIA v the automated accounts, but judging by the comments on this forum many MLIA lenders are withdrawing most of their funds as their existing higher rate loans are being repaid. I assume AC aren't worried by this so long as there is much greater growth in the automated accounts. One presumes this is the market they hope to capture, particularly once they are ISA-certified.
Hopefully AC will not lose the crowd due diligence and accountability that comes mainly from the MLIA lenders.
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Post by lynnanthony on Mar 8, 2017 14:20:30 GMT
Hopefully AC will not lose the crowd due diligence and accountability that comes mainly from the MLIA lenders. I'm not sure there has been much effective crowd due diligence since Assetz moved to the "No primary market, all secondary market" format. By the time we get to see the documentation, underwriting has been called and I doubt if anything we could pick up on would make much difference. As to accountability, I wonder if MLIA lenders are seen as a bit of a pain, with our "When is this borrower going to pay?" questions when they're eight days overdue. I wish I could be confident that late payers are chased without prompting on the Q&A. I am just about staying mostly invested (mid five figures) within my self-imposed rules and due diligence, but it would not surprise me if I have un-invested money to withdraw and place elsewhere soon. A shame, I quite like Assetz, but I'm not going to chase the rates down below a certain point.
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oldgrumpy
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Post by oldgrumpy on Mar 8, 2017 15:05:38 GMT
The latest upcoming loan #431 replaces a previously defaulted loan. The borrower's default has been rewarded with a lower rate of interest (8% to lenders) for his new loan. I can't argue (much  ) with lower rates for lower risk. This one would seem to me to be higher risk than initially judged. One wonders what the point is in having funds ready in AC when we know "policy" will prevent us (in the MLIA) actually deploying it. |
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jj
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Jolly Jammy
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Post by jj on Mar 8, 2017 17:58:50 GMT
The latest upcoming loan #431 replaces a previously defaulted loan. The borrower's default has been rewarded with a lower rate of interest (8% to lenders) for his new loan. I can't argue (much ) with lower rates for lower risk. This one would seem to me to be higher risk than initially judged. One wonders what the point is in having funds ready in AC when we know "policy" will prevent us (in the MLIA) actually deploying it. A ISA p2p bond account at 6% would be fine & dandy for AC to Shepard the sheepeople into I think. Free thinkers need not apply. Feed & forget. Don't need to ask questions!
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Mar 8, 2017 18:05:17 GMT
Hopefully AC will not lose the crowd due diligence and accountability that comes mainly from the MLIA lenders. I'm not sure there has been much effective crowd due diligence since Assetz moved to the "No primary market, all secondary market" format. By the time we get to see the documentation, underwriting has been called and I doubt if anything we could pick up on would make much difference. As to accountability, I wonder if MLIA lenders are seen as a bit of a pain, with our "When is this borrower going to pay?" questions when they're eight days overdue. I wish I could be confident that late payers are chased without prompting on the Q&A. I am just about staying mostly invested (mid five figures) within my self-imposed rules and due diligence, but it would not surprise me if I have un-invested money to withdraw and place elsewhere soon. A shame, I quite like Assetz, but I'm not going to chase the rates down below a certain point. I have reduced my AC holdings over the last 12-18 months to probably about 5% of what I used to hold with them as I didn't agree with theirchange of direction or the rates/risk ratio offered (not a criticism, just a personal opinion). It is however increasingly difficult to stay meaningfully invested due to some of the reasons you mentioned & the funds had long found their way to other platforms.
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trouble
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Post by trouble on Mar 8, 2017 19:08:36 GMT
Hopefully AC will not lose the crowd due diligence and accountability that comes mainly from the MLIA lenders. I'm not sure there has been much effective crowd due diligence since Assetz moved to the "No primary market, all secondary market" format. By the time we get to see the documentation, underwriting has been called and I doubt if anything we could pick up on would make much difference. There are no underwriters, so underwriting is not what it used to mean on AC where a number of HNWs would provide some independent due dil and then the funding to allow a loan to complete.
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duck
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Post by duck on Mar 8, 2017 20:04:06 GMT
The latest upcoming loan #431 replaces a previously defaulted loan. The borrower's default has been rewarded with a lower rate of interest (8% to lenders) for his new loan. ...... ... and Companies House show overdue accounts.
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rookey123
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Post by rookey123 on Mar 14, 2017 19:22:19 GMT
I see a lot on the pipeline but very little coming onto the platform. It certainly is not coming through at the run rate that was mention in Q4'16. Would andrew holgate wish to comment?
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teddy
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Post by teddy on Mar 16, 2017 16:06:56 GMT
I see a lot on the pipeline but very little coming onto the platform. It certainly is not coming through at the run rate that was mention in Q4'16. Would andrew holgate wish to comment? Take up of unused funds on both the GBBA and GEIA has all but stopped in the last month. Getting my repayments reinvested is becoming impossible, let alone new cash.
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warn
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Curmudgeon
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Post by warn on Mar 16, 2017 16:16:16 GMT
Take up of unused funds on both the GBBA and GEIA has all but stopped in the last month. Getting my repayments reinvested is becoming impossible, let alone new cash. Maybe it's time for some swingeing restrictions on the QAA and 30D omnivores. (But not until I've finished tucking my nest-egg away there...)
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ton27
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Post by ton27 on Mar 17, 2017 13:51:20 GMT
New loans are also at very low rates so the withdrawal continues.
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) with lower rates for lower risk. This one would seem to me to be higher risk than initially judged. One wonders what the point is in having funds ready in AC when we know "policy" will prevent us (in the MLIA) actually deploying it.
