agent69
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Post by agent69 on Nov 23, 2015 19:45:44 GMT
Over the last 6/7 weeks we've originated around as much as the previous 6 / 7 months. I know I shouldn't, but I've got to get in before the hairy primate. previous 6 / 7 months diddly squat, last 6 / 7 weeks ..... you do the maths?
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Post by chris on Nov 23, 2015 20:12:20 GMT
Over the last 6/7 weeks we've originated around as much as the previous 6 / 7 months. I know I shouldn't, but I've got to get in before the hairy primate. previous 6 / 7 months diddly squat, last 6 / 7 weeks ..... you do the maths? Hmmm... Last 7 months was £15m of funded loans. Doing that in a 7 week period would be ~£10m per month. Not quite on par with the big platforms but best of the rest, if sustainable, and a very clear step forward. To be honest I'll take that right now.
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mikes1531
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Post by mikes1531 on Nov 23, 2015 21:10:05 GMT
It's absolutely ridiculous -- or worse -- to list an upcoming loan with an estimated drawdown the next week, and then have it draw down on the day it first appeared, thus not giving investors any time to consider it before it drew down and having it gobbled up completely by those who happened to notice it first.
You can add "... and then cancelling lender's existing instructions so that they receive £0 of the amount they requested ..." given the drought of available loans. I hadn't progressed as far as putting in a pre-bid, so I was unaware of what mikeb has reported. In the light of that, though, I think my suggestion of "absolutely ridiculous" is too gentle. So delete that and stick with "or worse". It will be interesting to read AH's report on what the internal investigation into this fiasco turns up. More importantly, it will be interesting to see whether AC are more successful -- on their second attempt -- at putting procedures in place to prevent a future recurrence than they were on their first attempt. PS. I also note that, despite what's showing right now on the Upcoming Loans list, all the loans that were expected to draw down this week are now not expected to drawdown until next week at best.
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ilmoro
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'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 Nov 24, 2015 0:09:21 GMT
Appears that my lists death will be a long drawn out, as opposed to short drawndown, one  |
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oldgrumpy
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Post by oldgrumpy on Nov 24, 2015 11:05:53 GMT
You can add "... and then cancelling lender's existing instructions so that they receive £0 of the amount they requested ..." given the drought of available loans. PS. I also note that, despite what's showing right now on the Upcoming Loans list, all the loans that were expected to draw down this week are now not expected to drawdown until next week at best. ... and as there are no loans scheduled to commence their drawdown procedures in December, there may be nothing (so far) to shuffle into January. Will it be a "Cold New Year"?
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Post by chris on Nov 24, 2015 12:30:33 GMT
PS. I also note that, despite what's showing right now on the Upcoming Loans list, all the loans that were expected to draw down this week are now not expected to drawdown until next week at best. ... and as there are no loans scheduled to commence their drawdown procedures in December, there may be nothing (so far) to shuffle into January. Will it be a "Cold New Year"? Loans in the drawdown process are no longer listed. You'll only see loans that will be drawing down within a couple of days. So there's around £4-5m scheduled to draw down between now and Christmas. Some will probably slip to the new year but there may be some others to add to that list if they're turned around quickly.
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oldgrumpy
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Post by oldgrumpy on Nov 24, 2015 12:40:32 GMT
Thank you chris . All of a sudden it feels a bit warmer.  |
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Post by chris on Nov 24, 2015 12:47:13 GMT
Thank you chris . All of a sudden it feels a bit warmer. A lot of this predates the more recent origination changes so I'd still take with with a small pinch of salt. Could end up as £2-3m by the time the usual Christmas delays come up. Don't forget we insist upon 3rd party legal advise which helps protect your investments and those third parties aren't always reliable time frame wise, and things always crop up during the legal due diligence even if they're just minor details. So I'm not making any promises just reporting what our internal figures are currently pointing towards.
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oldgrumpy
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Post by oldgrumpy on Nov 24, 2015 12:54:30 GMT
I'll have to put my other £418,598,461.76 back into Fruit Cake then!!  PS Why isn't there a winking snarly smiley available? |
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agent69
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Post by agent69 on Nov 24, 2015 17:56:40 GMT
If you missed 216, don't miss 218.
Another Wind Turbine, draws down Friday (or possibly earlier?)
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oldgrumpy
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Post by oldgrumpy on Nov 24, 2015 18:08:10 GMT
If you missed 216, don't miss 218. Another Wind Turbine, draws down Friday (or possibly earlier?) Ta!
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agent69
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Post by agent69 on Nov 24, 2015 18:24:38 GMT
127 has repaid, so I guess it's out of one WT and into another.
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oldgrumpy
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Post by oldgrumpy on Nov 24, 2015 18:30:21 GMT
#218 Armargh WT - CR says 10%, loan page says 9.5%.
Need a better than 3 day reply on this one!
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Post by chris on Nov 24, 2015 18:44:49 GMT
#218 Armargh WT - CR says 10%, loan page says 9.5%. Need a better than 3 day reply on this one! Flagged
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kermie
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Post by kermie on Nov 24, 2015 18:57:27 GMT
I've also asked for confirmation via QnA as to whether this new Armagh WT is GEIA, MLIA or both since I recall some discussion about holding some loans to GEIA only.
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