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Post by Ton ⓉⓞⓃ on Mar 6, 2014 11:39:33 GMT
I understand that there haven't been any serious defaults on AC yet. But if I'm buying in the Aftermarket (is it also called SM?) where do I look to see if the Borrower has made Minor or Permissible Defaults. At the speed they can sell it almost looks like buy & hope.
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bugs4me
Member of DD Central
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Post by bugs4me on Mar 6, 2014 11:42:14 GMT
I understand that there haven't been any serious defaults on AC yet. But if I'm buying in the Aftermarket (is it also called SM?) where do I look to see if the Borrower has made Minor or Permissible Defaults. At the speed they can sell it almost looks like buy & hope. View Units for Sale - then click the Repayments tab
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Post by Ton ⓉⓞⓃ on Mar 6, 2014 11:54:39 GMT
Thanks for your answer, but that would only tell me if it was a Payment Default, but what if a 6mnth bridging loan was extenting by a couple of months (The kind of default that I don't mind too much about if there's good reason) or someother minor or permissible default had happened.
Thankd Once Again
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Post by chris on Mar 6, 2014 13:04:43 GMT
Thanks for your answer, but that would only tell me if it was a Payment Default, but what if a 6mnth bridging loan was extenting by a couple of months (The kind of default that I don't mind too much about if there's good reason) or someother minor or permissible default had happened. Thankd Once Again At the moment you can tell by comparing the due date of the payment with the date the repayment was made. As yet we've yet to have a late payment beyond a couple where the repayments fell on a bank holiday or weekend, which our current bank feed doesn't support. Edit: I should add that no doubt we will eventually, we just haven't yet.
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Post by Ton ⓉⓞⓃ on Mar 6, 2014 13:30:38 GMT
I suppose I'm asking how do I know that the risk at the start of the Loan is the same months later when it might be in the AM.
Is there a log of events such as "RM visited site and there was a Fire last night" or "RM said they want to extend their Bridge Faciltiy for a whole year"
If I'm looking at something in the AM where would I find this info?
While we're talking about Defaults/Losses, what is the expected annualized Loss through default? Perhaps because of non-payment loans going bad, I appreciate you always take security in several different forms.
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Post by chris on Mar 6, 2014 13:45:46 GMT
I suppose I'm asking how do I know that the risk at the start of the Loan is the same months later when it might be in the AM. Is there a log of events such as "RM visited site and there was a Fire last night" or "RM said they want to extend their Bridge Faciltiy for a whole year" If I'm looking at something in the AM where would I find this info? While we're talking about Defaults/Losses, what is the expected annualized Loss through default? Perhaps because of non-payment loans going bad, I appreciate you always take security in several different forms. At the moment you won't find much information along those lines on the website. By the end of this week there will be a new "Event Log" on each loan that will be used to record this information amongst other events and updates. We are also embarking on a major internal project behind the scenes to improve our CRM functionality - this will result in a much greater and more consistent flow of information coming through to lenders over the coming months. For the loss given default, this is actually a current project to bring these figures to the site automatically, and should be live in the next couple of weeks. In the meantime andrewholgate will be able to supply you with our current figures.
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Post by mrclondon on Mar 6, 2014 14:01:04 GMT
As yet we've yet to have a late payment beyond a couple where the repayments fell on a bank holiday or weekend, which our current bank feed doesn't support. Edit: I should add that no doubt we will eventually, we just haven't yet. Hmm. Not strictly true. Loan 48 which was funded off-platform by a single HNW individual was almost 2 weeks late in making the one and only payment due on the loan (and was very late making monthly repayments on their FK loan at that time).
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Post by Ton ⓉⓞⓃ on Mar 6, 2014 14:01:40 GMT
I suppose I'm asking how do I know that the risk at the start of the Loan is the same months later when it might be in the AM. Is there a log of events such as "RM visited site and there was a Fire last night" or "RM said they want to extend their Bridge Faciltiy for a whole year" If I'm looking at something in the AM where would I find this info? While we're talking about Defaults/Losses, what is the expected annualized Loss through default? Perhaps because of non-payment loans going bad, I appreciate you always take security in several different forms. At the moment you won't find much information along those lines on the website. By the end of this week there will be a new "Event Log" on each loan that will be used to record this information amongst other events and updates. We are also embarking on a major internal project behind the scenes to improve our CRM functionality - this will result in a much greater and more consistent flow of information coming through to lenders over the coming months. For the loss given default, this is actually a current project to bring these figures to the site automatically, and should be live in the next couple of weeks. In the meantime andrewholgate will be able to supply you with our current figures. Thanks for the answers, it's clear everyone is trying to help. Just remind me what CRM stands for again?
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Post by Lep Recorn on Mar 6, 2014 14:07:54 GMT
"Just remind me what CRM stands for again?"
Customer Relationships Management - i.e. keeping us sweet and happy :-)
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Post by Ton ⓉⓞⓃ on Mar 6, 2014 14:15:05 GMT
I knew that I was just seeing if anybody else knew it...
Thanks for the answer.
IN EDIT. Actually there does seem to be a lot of abbreviations here I'm struggling to work out it took me ten mins to sus out what LI stands for? Anyone know? The quickest one to answer wins with me buying there unwanted stuff on AM (Only joking)
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Post by chris on Mar 6, 2014 14:59:39 GMT
"Just remind me what CRM stands for again?" Customer Relationships Management - i.e. keeping us sweet and happy :-) Also, but strange coincidence, my initials 
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Post by chris on Mar 6, 2014 15:01:07 GMT
As yet we've yet to have a late payment beyond a couple where the repayments fell on a bank holiday or weekend, which our current bank feed doesn't support. Edit: I should add that no doubt we will eventually, we just haven't yet. Hmm. Not strictly true. Loan 48 which was funded off-platform by a single HNW individual was almost 2 weeks late in making the one and only payment due on the loan (and was very late making monthly repayments on their FK loan at that time). Sorry my bad, didn't realise that.
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Post by Ton ⓉⓞⓃ on Mar 30, 2014 0:13:48 GMT
Bump
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mikes1531
Member of DD Central
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Post by mikes1531 on Mar 30, 2014 3:09:07 GMT
I suppose I'm asking how do I know that the risk at the start of the Loan is the same months later when it might be in the AM. At the moment you won't find much information along those lines on the website. By the end of this week there will be a new "Event Log" on each loan that will be used to record this information amongst other events and updates. Did the Event Log improvement actually happen? If so, how do I find it?
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Post by chris on Mar 30, 2014 6:35:31 GMT
It'll be live tomorrow. It's part of a wider set of changes, some front end some for the admin team, that all has to go live at the same time. So we're a couple of days behind schedule with the release. It was ready to go Friday afternoon but that's never a good time to set stuff live full stop let alone wide ranging changes.
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