oldgrumpy
Member of DD Central
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Post by oldgrumpy on Apr 15, 2014 10:34:02 GMT
Cheer up yorkshireman. Surely the sun is shining, even in Barnsley and Bradford today!  |
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Post by yorkshireman on Apr 15, 2014 10:38:09 GMT
Cheer up yorkshireman. Surely the sun is shining, even in Barnsley and Bradford today! It's a beautiful day in God's Own County!! 
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Post by davidricketts1 on Apr 15, 2014 11:49:31 GMT
Hi all - firstly, a quick introduction. I'm David Ricketts, and I'm the new credit operations manager, working with Mark Wardrop and of course Andrew Holgate on getting the loan process working as smoothly as possible.
Thankfully there was nothing sinister at play here - the loan is perfectly fine and the funds have been paid. As well as our automated processes, we employ a number of manual checks and authorisation points to make sure things are as they should be and to ensure that quality remains high for both borrowers and investors. However, on this occasion a brief, manual oversight meant that we pressed a button a little bit late on this loan. It’s as simple as that and we do apologise for the temporary confusion. Thanks to all of you for drawing this to our attention - you allowed us to resolve the situation quickly.
Thanks again and apologies for the delay. I’ll be responding to a few other threads on here very shortly, so watch this space.
Kind regards,
David
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Post by badger on Apr 15, 2014 12:23:27 GMT
Interesting to see that the Aftermarket was shut down for just one day late. That is very reassuring, much tighter than some other platforms I could mention.
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Apr 15, 2014 12:28:28 GMT
Hi David,good to hear from you.Has the same issue arisen with L2L7 (auction 44)?
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Post by davidricketts1 on Apr 15, 2014 12:43:50 GMT
Hi Jonno - yes, we've amended this now, apologies for the confusion.
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Post by Ton ⓉⓞⓃ on Apr 15, 2014 12:51:46 GMT
Interesting to see that the Aftermarket was shut down for just one day late. That is very reassuring, much tighter than some other platforms I could mention. Hi and Welcome to AC davidricketts1Anyone know in what other circumstances Loans are suspended from the Aftermarket.
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mikes1531
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Post by mikes1531 on Apr 26, 2014 2:33:43 GMT
For anyone who hasn't been watching H****ey carefully... The underwriters' share of this loan dropped below 1% on Friday, so this weekend may be the last opportunity to pick up loan parts of this one in the AM without waiting. (It was down to just £18.6k of parts available as I write this.)
I wonder whether sales of the other two bridging loans will pick up when this one disappears from the AM. (There still are a lot of those parts held by the underwriters -- £0.7M or £0.8M each.) Or will there be a significant pause in investing activity once the cashback offer next week? Having watched Zopa do a few cashback offers during my time there, the impact on lender activity was quite noticeable.
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Apr 27, 2014 16:55:47 GMT
For anyone who hasn't been watching H****ey carefully... The underwriters' share of this loan dropped below 1% on Friday, so this weekend may be the last opportunity to pick up loan parts of this one in the AM without waiting. (It was down to just £18.6k of parts available as I write this.) I wonder whether sales of the other two bridging loans will pick up when this one disappears from the AM. (There still are a lot of those parts held by the underwriters -- £0.7M or £0.8M each.) Or will there be a significant pause in investing activity once the cashback offer next week? Having watched Zopa do a few cashback offers during my time there, the impact on lender activity was quite noticeable. All gone early this morning, might have even been late last night
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Post by Ton ⓉⓞⓃ on Apr 27, 2014 18:10:36 GMT
Ah but will it all be back on May 1st?
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j
Member of DD Central
Penguins are very misunderstood!
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Likes: 540
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Post by j on Apr 27, 2014 18:21:23 GMT
Ah but will it all be back on May 1st? You know...you might be very correct in that assumption Ton ⓉⓞⓃ
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mikes1531
Member of DD Central
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Post by mikes1531 on Apr 28, 2014 0:57:31 GMT
Ah but will it all be back on May 1st? You know...you might be very correct in that assumption Ton ⓉⓞⓃThat's what I'm expecting. Not necessarily just H****ey, though. I expect quite a few lenders will have thrown a lot of money into AC during April because of the cashback deal, and many -- myself included -- will have put in more than they may wish to keep there long-term. So I expect the AM to be flooded with parts starting on 1/May as people try to adjust their portfolios and their overall investment. On top of that, a number of loans will be drawing down shortly. Lenders with shadow bidding privileges may need to sell some parts to cover their shadow bids just before drawdown, and lenders without shadow bidding privileges may decide to sell some parts to free up funds to use to acquire parts of loans that underwriters will be making available shortly after drawdown. The AM seems to be pretty dead at the moment, though with AutoInvest it's impossible to know whether that's really the case. I expect the situation to change radically on 1/May with lots of parts becoming available. I expect everyone needs to check their AutoInvest settings before then.
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Post by chris on Apr 28, 2014 11:13:31 GMT
The AM seems to be pretty dead at the moment, though with AutoInvest it's impossible to know whether that's really the case. I expect the situation to change radically on 1/May with lots of parts becoming available. I expect everyone needs to check their AutoInvest settings before then. Over £800k of aftermarket transactions in the last week, £24k so far this morning. Aftermarket isn't too quiet 
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Post by Ton ⓉⓞⓃ on Apr 28, 2014 12:00:50 GMT
The AM seems to be pretty dead at the moment, though with AutoInvest it's impossible to know whether that's really the case. I expect the situation to change radically on 1/May with lots of parts becoming available. I expect everyone needs to check their AutoInvest settings before then. Over £800k of aftermarket transactions in the last week, £24k so far this morning. Aftermarket isn't too quiet Thanks for the info chris, 800k is an amazing figure, but it is quite hidden from someone wondering about how fluid the market is. I imagine a lot of that ease of trade is down to the excellent system
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Post by chris on Apr 28, 2014 14:08:39 GMT
Chances are stats covering this will appear on the site sooner or later, just a question of resourcing.
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