j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Mar 20, 2014 22:42:25 GMT
I doubt it will be hoovered before the 6-months period is up since they can't get rid of Ha**ney or Ip***ch, never mind all the other loans in the pipeline that they need to get their underwriters out of. H*****y does seem to be making good progress. It looks like all -- or very nearly all -- of the loan parts still held by underwriters are in the Aftermarket now. I*****h is a very different story. There are about £400k of parts available in the Aftermarket, but the underwriters are holding an additional £800k of those. So when those now in the Aftermarket are bought there will be plenty more available to take their place. I'd bought a couple of units in Ippy for diversification but, the thought of buying any more scares me in case I need to release funds in the near future as I'd have no chance of selling them till the loan expires. Hence the problem with so many huge loans on AC recently where it's reaching saturation point
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wysiati
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Post by wysiati on Mar 23, 2014 11:58:17 GMT
Genuine questions for Assetz Capital. Given the recent deal flow is there a lack of opportunities suitable for auctions small enough to obviate the need for underwriting? Should there be an ongoing expectation of reasonable 'active management' by AC, e.g. restricting the availability of new loans as required to motivate purchases from underwriters in the secondary market in the absence of alternatives (and so free up that capital which is most useful for new large scale funding deals)?
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Post by valerieb on Mar 23, 2014 19:37:21 GMT
Given the recent deal flow is there a lack of opportunities suitable for auctions small enough to obviate the need for underwriting? I did say over lunch that my preference would be for loans up to about £800k so as to reduce the need for underwriting and encourage more bidding in the primary market. I didn't specifically ask whether any such loans were in the pipeline but I didn't get the impression that there was any lack of loan requests.
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spockie
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Post by spockie on Mar 23, 2014 20:14:53 GMT
How many people attended?
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Post by valerieb on Mar 24, 2014 8:34:47 GMT
60 - 70'ish. A number I spoke to aren't currently lending through Assetz but they seemed interested and I would have thought the team's performance would have encouraged them to invest. It was good that so many of the team were present; they all came over as professional, friendly and approachable. Andrew gave out the forum details.
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wysiati
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Post by wysiati on Mar 24, 2014 12:54:10 GMT
Genuine questions for Assetz Capital. Given the recent deal flow is there a lack of opportunities suitable for auctions small enough to obviate the need for underwriting? Should there be an ongoing expectation of reasonable 'active management' by AC, e.g. restricting the availability of new loans as required to motivate purchases from underwriters in the secondary market in the absence of alternatives (and so free up that capital which is most useful for new large scale funding deals)? Any chance of some clarification from AC? If uncomfortable discussing on an open forum for commercial reasons please advise and I shall ask 'offline'. Thanks.
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Post by andrewholgate on Mar 24, 2014 14:07:18 GMT
There is no lack of deal flow, only some minor issues in getting them to the platform which all seem to be unwinding this week. The loans we are working on are in the majority below £1m and will have a reduced need for underwriting.
Underwriting is a means to an end and allows us to get loans drawdown without lenders worrying will the deal fill. As I said at the event, the crowd is still our priority and without you we couldn't have done what we did.
A
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Post by Ton ⓉⓞⓃ on Mar 24, 2014 15:01:04 GMT
Whoops, that sounds like a hiccup in the pipeline, better they fall out now than later.
Also will you be employing more RM's or do you have a new bunch in training, as the few you have now are going to be worked off their tiny little feet?
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mikes1531
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Post by mikes1531 on Mar 24, 2014 15:50:35 GMT
There is no lack of deal flow, only some minor issues in getting them to the platform which all seem to be unwinding this week. Whoops, that sounds like a hiccup in the pipeline, better they fall out now than later. Putting my own interpretation on Andrew's comment, I took it to mean that it was the issues that were unwinding. So that would be good news, and we should therefore expect these loans in progress to reach us shortly. 
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Post by Ton ⓉⓞⓃ on Mar 24, 2014 16:13:03 GMT
There is no lack of deal flow, only some minor issues in getting them to the platform which all seem to be unwinding this week. Whoops, that sounds like a hiccup in the pipeline, better they fall out now than later. Putting my own interpretation on Andrew's comment, I took it to mean that it was the issues that were unwinding. So that would be good news, and we should therefore expect these loans in progress to reach us shortly. I suppose I jumped to that conclusion as I somehow had it in my head that three loans were hoped/expected to start auction last week, whereas only one kicked off. So you take andrewholgate 's statement to mean just a hold up for a few days? I think I must become more precise in my use of language on this board.
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mikes1531
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Post by mikes1531 on Mar 24, 2014 21:39:57 GMT
Putting my own interpretation on Andrew's comment, I took it to mean that it was the issues that were unwinding. So that would be good news, and we should therefore expect these loans in progress to reach us shortly. I suppose I jumped to that conclusion as I somehow had it in my head that three loans were hoped/expected to start auction last week, whereas only one kicked off. So you take andrewholgate 's statement to mean just a hold up for a few days? I think I must become more precise in my use of language on this board. Perhaps I'm being optimistic, but I was hoping that the fact that Andrew called the issues minor meant tdhey were causing delays rather than jeopardising the loan application entirely. But that's just one possible interpretation. Maybe it's Andrew that needs to be more precise, so that there's no scope for multiple interpretations?
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Post by chris on Mar 24, 2014 22:57:19 GMT
Fear not, the pipeline is very healthy but as ever we need to make sure the deals are sufficiently progressed before they are listed.
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andy2001
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Post by andy2001 on Mar 25, 2014 16:54:07 GMT
Well there's now a new small loan up paying 12% Northam********* Equ*******
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