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Post by Financial Thing on Feb 21, 2016 7:30:38 GMT
Nobody needs to justify their opinion. It's simply an opinion! Agree! Are the mods are turning into the censorship police?
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Post by Financial Thing on Feb 21, 2016 7:46:05 GMT
I'm attempting to leave Rebs (not impressed with loan vetting + defaults), Lending Crowd (lack of new loans)
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Post by bracknellboy on Feb 21, 2016 7:50:18 GMT
Nobody needs to justify their opinion. It's simply an opinion! : Opinion or not, using the specific phrase you have been asked to re-consider implies dishonesty, i.e. seeking to deceive or distort the truth. If you want to make such a statement on here then back it up with facts; but preferably on a separate thread so as to not digress the intent of this thread. If yoiu didn't intend to imply such meaning then either remove it or clarify what meaning you had intended to impart.
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Post by oldnick on Feb 21, 2016 8:05:30 GMT
Nobody needs to justify their opinion. It's simply an opinion! Agree! Are the mods are turning into the censorship police? I would prefer that my post was interpreted as asking for a more focussed opinion, rather than none at all, but you are entitled to your opinion too. I hope you don't feel too oppressed. 
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Post by stuartassetzcapital on Feb 21, 2016 10:34:22 GMT
All very useful feedback thanks and all noted. We are actioning improvements and will continue do that until the end of time, although a delivery date for each of them would ideally be tomorrow! That said we can't please everyone all the time and to 100% satisfaction but we have a business that must be sustainable and robust and that sometimes has opposing requirements. The Fairer, Growth, Together mantra means a lot to us and sums up the difficult but necessary task to balance everything between lenders, borrowers and AC/staff. As CEO and head of all strategy hopefully you'll be pleased to hear the following (not intended to be exhaustive although we are working on a lender update that will be more so):
- MLIA manual lenders will be here and supported for the foreseeable future. You are our original and valued investors. You provide liquidity in return for higher rates than the other investment accounts. We are sorry demand has outstripped supply but from the drawdown list I hope you can see that has been fixed and will improve for you. Yes lender and borrower rates have tightened a little but to answer the question further up, yes the gap between pricing for risk and the actual lender rate priced for liquidity was indeed huge in the past and we are moderating that a little to remain competitive in the market for quality transactions so yes MLIA rates are falling a little but 12% pa weighted lender rates is no longer sustainable in a quality business arena.
- MLIA investment is powerful, more so than any other platform, but also this account is part of our dashboard being a little too complex as a whole for some. Expect some simplification whilst retaining options for power users.
- The investment accounts offer protection in return for lower rates. The QAA more so as it has the highest liquidity of any account and is inefficient in how much cash it holds as part of the implementation of such liquidity. It isn't the end game for AC on its own but sits well with the other accounts. Some people would like to have all the borrower margin and all loans solely in the MLIA, but where does that leave the investor wanting a simple and protected investment. The division of loans will always be intended to be fair between all parties including AC making a profit !
- Funds do not replace retail lenders - in fact quite the opposite. We have a master plan that we expect the industry to adopt based on initial feedback over the last 6 months that will allow the two to co-exist profitably and each will get what they desire. Funds are themselves having pricing challenges we note.
- QAA is designed for quick access principally, GBBA and GEIA also currently offer instant liquidity and perhaps always will given if the demand stays ahead of supply but if not then expect exit to be slower on these accounts at some times. MLIA supports discounts and it would also be nice to allow premiums if we can get it approved and legal.
- Replacement systems are coming in for loan monitoring and default management and I do believe we have an incredibly talented team on recoveries. Nonetheless it must always be possible to improve and systems are the next step.
- Our loan security is the key USP on which we trade and we must ensure this is as good as possible. Nonetheless all lending has some risk. We will publish our stress testing model shortly and this shows how well the security will perform in future crises.
Thank you for your continued support.
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Post by Deleted on Feb 21, 2016 10:34:37 GMT
I for one support AC for taking the time to come on this Forum. That so many of their staff are able to make comment is surely a positive as is the work done by Ed, Shaun at MT, Kevin at RS, FS, SS etc. Without their feedback this could just be a whinge sheet. Clearly FC have disengaged which is just another nail in their coffin for me with them, while their own forum for discussion is frankly so anodyne as to be meaningless. I think AC is working harder at improving their communication, for instance they make date promises on Q&A and are now achieving them. They are writing English that makes sense, they are even saying where they don't know the answers and will not be commenting further which is such a step up from what used to be a slightly haughty approach (grandfather to child), now it is more adult to adult. Chris's comments on the pipeline, well the proof of the pudding... I'll take advantage if it happens.  Though I have to say I have no idea what an MLIA is. |
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locutus
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Post by locutus on Feb 21, 2016 11:11:25 GMT
Leaving RS (ever lower rates, opaque matching of funds between lender and borrower, excessive exit fees), MT (no prefunding and bid limits set far too low), FS (no prefunding and bananas SM). I could be persuaded to return to all three with a decent chunk of cash if concerns were addressed and improvements made.
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locutus
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Post by locutus on Feb 21, 2016 12:41:56 GMT
I just realised that there has been (at least) one post stating that they are leaving each of all the major P2P sites apart from one. The other P2P players would do well to imitate some of SS's winning formula to try and replicate some of their success.
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Post by Financial Thing on Feb 21, 2016 16:05:04 GMT
- MLIA supports discounts and it would also be nice to allow premiums if we can get it approved and legal.
Oh lord please do not add premiums to the Secondary resale market. The brilliance of AC's SM is that it works now. Why change something that doesn't need changing? Adding premiums will attract loan flippers and could dry up the liquidity AC has achieved.
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ben
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Post by ben on Feb 21, 2016 16:23:39 GMT
- MLIA supports discounts and it would also be nice to allow premiums if we can get it approved and legal.
Oh lord please do not add premiums to the Secondary resale market. The brilliance of AC's SM is that it works now. Why change something that doesn't need changing? Adding premiums will attract loan flippers and could dry up the liquidity AC has achieved. I agree with premiums not to be offered as would attract flippers, discounts if someone wants to leave then fair enough
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Post by uncletone on Feb 21, 2016 16:36:18 GMT
Though I have to say I have no idea what an MLIA is. It appears nobody knows. Searching produces "My Life Is Average", or for financial discussions " Member of the Life Insurance Association". I guess we're not in with the In Crowd.
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Post by oldnick on Feb 21, 2016 16:43:21 GMT
Though I have to say I have no idea what an MLIA is. It appears nobody knows. Searching produces "My Life Is Average", or for financial discussions " Member of the Life Insurance Association". I guess we're not in with the In Crowd. I think it may be for loans to Spanish borrowers - Manuel loans investment account.
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mikes1531
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Post by mikes1531 on Feb 21, 2016 17:01:21 GMT
Though I have to say I have no idea what an MLIA is. It appears nobody knows. Searching produces "My Life Is Average", or for financial discussions " Member of the Life Insurance Association". I guess we're not in with the In Crowd. There's a good chance I've missed some sincere attempts at humour, but just in case it was a serious question from someone unfamiliar with AC -- after all, this thread is in the General section of the forum -- the MLIA is AC's Manual Loan Investments Account, which allows investors to choose which loans they wish to invest in and which they don't. Lenders investing via the MLIA receive higher rates of interest than those using AC's managed accounts, but are not covered by any AC protection fund so are more exposed to possible losses if the borrower defaults and the security cannot produce sufficient proceeds to repay all lenders' capital and accrued interest.
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oldgrumpy
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Post by oldgrumpy on Feb 21, 2016 17:34:49 GMT
Bearing in mind what @bobo states above in respect of his AC portfolio, I think he knows exactly what the MLIA is. e.g. .... which is why I do not want to invest in many of their managed accounts. To me, they seem to be lumping assets together with diverging risk characteristics.
At the start of 2016 I expected to start leaving AC but find myself with a growing loan book there despite my concerns, so they must be doing something right....
However, I do subscribe to the view that frequent references by use of acronyms is difficult to comprehend for new lenders trying to glean useful information from the forum.
TWITA 
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Post by uncletone on Feb 21, 2016 18:04:38 GMT
There's a good chance I've missed some sincere attempts at humour, but just in case it was a serious question from someone unfamiliar with AC -- after all, this thread is in the General section of the forum -- the MLIA is AC's Manual Loan Investments Account, which allows investors to choose which loans they wish to invest in and which they don't. Lenders investing via the MLIA receive higher rates of interest than those using AC's managed accounts, but are not covered by any AC protection fund so are more exposed to possible losses if the borrower defaults and the security cannot produce sufficient proceeds to repay all lenders' capital and accrued interest. Thank you Mike. The question was a genuine one.
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