tonyr
Member of DD Central
Posts: 477 
Likes: 258
|
Post by tonyr on Mar 3, 2016 19:47:23 GMT
Loan #237 is called Tranche 2 and is a follow on loan. From the docs: "By way of background, T1 was funded via one of Assetz Capital’s Institutional Funders and it is important to note that this loan will rank parri passu with Tranche 1 for security purposes".
Have I missed something or does Tranche 1 not appear in the AC loan list?
|
|
|
|
Post by Butch Cassidy on Mar 3, 2016 20:12:06 GMT
Maybe they are following the new FC model; Institutional (Whole Loan) investors get to cherrypick the loan pipeline, then the "valued retail investors" get to mop up the dross that has been rejected 
It might also explain why AC has promised a bulging pipeline of upcoming loans for well over 12 months but it is only the last few weeks that retail investors have seen any signs of it, & rather an underwhelming list is has been so far in terms of quality & risk/reward balance IMHO. There was #207 C**** that appeared as if by magic months after being issued but IIRC AC stated "this was only one of a small number" that due to a short timescale it had not been possible to release to retail investors. I would be interested to know how many loans get issued without ever getting to the retail platform & how AC plan to grow this alternative route, given the large funding streams that they now have access to?
|
|
|
|
Post by Ton ⓉⓞⓃ on Mar 3, 2016 20:14:21 GMT
Loan #237 is called Tranche 2 and is a follow on loan. From the docs: "By way of background, T1 was funded via one of Assetz Capital’s Institutional Funders and it is important to note that this loan will rank parri passu with Tranche 1 for security purposes". Have I missed something or does Tranche 1 not appear in the AC loan list? First I've seen of 'em. Can we have a glossary of terms? I know that B&DD stands for Bad & doubtful debt after I struggle to understand and as such I'll be making a token invest.
|
|
jonah
Member of DD Central
Posts: 2,031
Likes: 1,113
|
Post by jonah on Mar 3, 2016 20:30:22 GMT
Well I'm confused.
|
|
|
|
Post by chris on Mar 3, 2016 20:44:36 GMT
Maybe they are following the new FC model; Institutional (Whole Loan) investors get to cherrypick the loan pipeline, then the "valued retail investors" get to mop up the dross that has been rejected Categorically not. Loans are allocated at random and if a loan is ever rejected by an institution and then makes it way on to the retail market this information will be given to lenders. If a loan doesn't say it's been rejected by an institution then no institution has been given prior sight of it before it is offered to retail.
|
|
kermie
Member of DD Central
Posts: 691
Likes: 462
|
Post by kermie on Mar 3, 2016 21:20:36 GMT
I have to admit I also found the credit report for #237 quite hard going - as Ton ⓉⓞⓃ suggests, I'll probably just make a token lend on this one. I would prefer for the Tranche 1 of #237 to appear on the site if at all possible, now that any retail lender in #237 could have an interest in following any QnA/updates on the T1 loan. I appreciate there is little upside to AC for doing that, but it might be worthwhile in the interests of transparency. Aside: I think #207 also went to institutions only but in that case did later appear on the site for retail lenders - I have a tiny slice now. |
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Mar 3, 2016 21:29:33 GMT
I would be interested in knowing about all loans which have gone to institutions, and how they get to select them.
|
|
am
Posts: 1,495
Likes: 601
|
Post by am on Mar 3, 2016 21:32:19 GMT
I assume the references to APT (Asset Protection Trust) and ATP (Adenosine Triphosphate) in the credit report should all be APT.
|
|
j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
|
Post by j on Mar 3, 2016 21:37:05 GMT
...............and ATP (Adenosine Triphosphate) in the credit report should all be APT. Now that brings back memories 
|
|
jonah
Member of DD Central
Posts: 2,031
Likes: 1,113
|
Post by jonah on Mar 3, 2016 21:38:28 GMT
Given they have an existing p2p loan with another platform discussed close to here... I'm surprised they are paying what appears to be much higher rates on AC?
(assuming the platform costs are roughly comparable on top of the lender interest, it's close to double)
|
|
j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
|
Post by j on Mar 3, 2016 21:40:45 GMT
If we can't even get the basics of the loan, should we even bother with a token investment even @ 11%?
|
|
|
|
Post by bracknellboy on Mar 3, 2016 21:42:11 GMT
they don't. Randomly allocated, allegedly. Sounds a bit familiar.......
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Mar 3, 2016 22:07:28 GMT
Given they have an existing p2p loan with another platform discussed close to here... I'm surprised they are paying what appears to be much higher rates on AC? (assuming the platform costs are roughly comparable on top of the lender interest, it's close to double) We don't know what rate they are paying that lot! Just a little spice to help make sure Z's lender rates are uncompetitive.
|
|
|
|
Post by Butch Cassidy on Mar 4, 2016 9:20:17 GMT
Maybe they are following the new FC model; Institutional (Whole Loan) investors get to cherrypick the loan pipeline, then the "valued retail investors" get to mop up the dross that has been rejected Categorically not. Loans are allocated at random and if a loan is ever rejected by an institution and then makes it way on to the retail market this information will be given to lenders. If a loan doesn't say it's been rejected by an institution then no institution has been given prior sight of it before it is offered to retail. Excellent, thanks for that clarification - I hope that continues to be the case (I did add the smiley face for a good reason!)
I actually quite like the look of this one, of course it TOTALLY depends on the ongoing success of the business model, but if you take the view that the proposition stands up to scrutiny (as I do), then the lack of physical security can be overlooked. It won't be for everyone but then again neither will a part time taxi driver @ 8.75%, even with bricks & mortar security - P2P thrives on diversity & as long as the reward matches the risk there will always be investors.
|
|
|
|
Post by jevans4949 on Mar 4, 2016 10:06:03 GMT
I assume the references to APT (Asset Protection Trust) and ATP (Adenosine Triphosphate) in the credit report should all be APT. Association of Tennis Professionals? Advanced Passenger Train?
|
|
