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Post by masterofimages on Apr 24, 2016 0:56:21 GMT
I'm a relatively new lender in AC, but I think I have a good understanding of how the platform works. At least i did until I noticed that my MLIA instructions weren't being actioned despite units being available. I've seen this happen on several loans over a number of days, so it seems to be widespread. Can anyone explain why my instructions aren't being matched? I would have expected matching of instructions to available units should be near-instantaneous with an automated system such as is used by AC.
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Post by profunder on Apr 24, 2016 1:32:32 GMT
I'm a relatively new lender in AC, but I think I have a good understanding of how the platform works. At least i did until I noticed that my MLIA instructions weren't being actioned despite units being available. I've seen this happen on several loans over a number of days, so it seems to be widespread. Can anyone explain why my instructions aren't being matched? I would have expected matching of instructions to available units should be near-instantaneous with an automated system such as is used by AC. It's not instantaneous, but should happen within 15 minutes in my experience. The number 1 reason seems to be no money in MLIA, but leaving balance in cash account. Did you check this?
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bg
Member of DD Central
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Post by bg on Apr 24, 2016 2:19:49 GMT
No, I'm having the same problem. It's not working.
I emailed them last week about it but no response.
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bababill
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Post by bababill on Apr 24, 2016 3:38:31 GMT
I have this same problem too.
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Post by bonfemme on Apr 24, 2016 4:34:38 GMT
I had this problem a few months ago. In my case it was because I hadn't deposited money into the MLIA before asking it to be swept into the QAA. See the thread entitled Out For Now (started in January) which explains the situation better than I can here. Perhaps this is the reason?
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Post by crabbyoldgit on Apr 24, 2016 6:22:34 GMT
240, 245 and 258 seem to have a software issue which chris is aware of , it was on his to do list Friday, but his to do list gets a bit long at times and I think this is a busy time having just done some form of migration. His initial thoughts were after a cursory look was these units were not available for sale just the display was stuck in error the units I think actually have been sold already but the display not updated.
Be warned money put directly into the qaa will not be swept back to by loan units you are hoping to buy on the after market , so if you wish this to happen put the funds in the mlia or what ever first and allow the software to the sweep them into the qaa
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JamesFrance
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Port Grimaud 1974
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Post by JamesFrance on Apr 24, 2016 6:25:02 GMT
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bg
Member of DD Central
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Post by bg on Apr 24, 2016 7:44:07 GMT
If I were a new investor and encountered this issue when trying to invest in my first loan (and with no response from Assetz), I would have no confidence in the platform, withdraw my money and never return.
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Post by lynnanthony on Apr 24, 2016 8:00:27 GMT
240, 245 and 258 seem to have a software issue which chris is aware of , ... I think 255 may have the same issue. My account has ignored (apparently) available parts of 255 but has picked up shrapnel in other loans when they come up.
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Post by masterofimages on Apr 24, 2016 12:07:16 GMT
240, 245 and 258 seem to have a software issue which chris is aware of , it was on his to do list Friday, but his to do list gets a bit long at times and I think this is a busy time having just done some form of migration. His initial thoughts were after a cursory look was these units were not available for sale just the display was stuck in error the units I think actually have been sold already but the display not updated. Be warned money put directly into the qaa will not be swept back to by loan units you are hoping to buy on the after market , so if you wish this to happen put the funds in the mlia or what ever first and allow the software to the sweep them into the qaa Currently showing 233.94 awaiting investment in the MLIA, so that doesn't appear to be the problem. As BG says, it doesn't reflect very well on the platform when this sort of thing happens. I'm prepared to give them a bit of leeway to fix it, but I would suggest maybe putting up a notice on the site with all the known issues, so at least investors can see that it's being worked on.
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Post by crabbyoldgit on Apr 24, 2016 15:56:40 GMT
bare with bare with, oh masterly one  , on the whole compared with other sites I am in ac is streets ahead in its communications ,it does have failures sometimes frustrating but it on the whole it listens, sometimes to much trying to please everybody all the time, but since i have been involved as an investor there has been a steady improvement. The strange appearance of loans to call underwriting and drawing down late Friday which did not happen, no surprise there, is a classic. For all its failings on occasion, its worth in my opinion the effort, loans get delayed again and again because ac will not knowingly take short cuts or let go on details of contract making sure every dot is covered in the loan and that what I want. Chris is the main IT man and kind of fronts for this site for AC does a bloody good job and often responds to posts here at times when well I think my wife would have taken away the laptop and thrown it through the window or made me an ex husband if I was in reality still at work at that those hours. I am sure if the issue over these loans was not resolved on Friday something more important had to take priority on the day and ac tends to kind of shut down at weekends, which for a small organisation numbers wise is understandable. Interestingly trade in the sm seems to fade at weekends , but why is there a little peak of offerings in the very early mornings 0100 to 0230 hr.s , do we have vampires investing in the site.  |
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mikes1531
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Post by mikes1531 on Apr 24, 2016 18:33:04 GMT
Interestingly trade in the sm seems to fade at weekends , but why is there a little peak of offerings in the very early mornings 0100 to 0230 hr.s , do we have vampires investing in the site. It's because interest accrues at midnight, so by selling after midnight an investor accrues an extra day's interest.
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bababill
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Post by bababill on Apr 25, 2016 1:40:57 GMT
Still having same issue with loan 258 and understand there is an 'issue.' Shame about the lost interest; even had paid the bank an extra £3.00 for same day transfer.
Question is as follows:
Assume I have £1000 already invested in say Loan 258.
I want to invest another £1000.
Do I instruct system to invest up to £1000 or £2000?
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mikes1531
Member of DD Central
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Post by mikes1531 on Apr 25, 2016 2:38:21 GMT
Still having same issue with loan 258 and understand there is an 'issue.' Shame about the lost interest; even had paid the bank an extra £3.00 for same day transfer. Question is as follows: Assume I have £1000 already invested in say Loan 258. I want to invest another £1000. Do I instruct system to invest up to £1000 or £2000? : £1000 At the moment, we're entering instructions rather than targets. If you want to increase your holding by £1000, you put in a buy instruction for that amount. If you want to reduce your holding, you put in a sell instruction. (If we were setting targets -- as we used to be able to do -- there wouldn't be a need to have both a Buy button and a Sell button.)
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am
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Post by am on Apr 25, 2016 8:55:36 GMT
I seem to be having the reverse problem - in the past stuff has sold promptly, but nothing's happened since I put some GBBA and anaerobic digester (selling down my overweight position) on the market earlier this morning to free up funds for forthcoming loans. (As a temporary expedient I've borrowed some cash from the cash account that was taking advantage of April's special QAA rate.)
Update: as half expected trading came to life after I mentioned this; most of the requested GBBA withdrawal went through. However, although I'm selling some anaerobic digester the loans page doesn't admit that there are any units available.
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, on the whole compared with other sites I am in ac is streets ahead in its communications ,it does have failures sometimes frustrating but it on the whole it listens, sometimes to much trying to please everybody all the time, but since i have been involved as an investor there has been a steady improvement. The strange appearance of loans to call underwriting and drawing down late Friday which did not happen, no surprise there, is a classic. For all its failings on occasion, its worth in my opinion the effort, loans get delayed again and again because ac will not knowingly take short cuts or let go on details of contract making sure every dot is covered in the loan and that what I want. Chris is the main IT man and kind of fronts for this site for AC does a bloody good job and often responds to posts here at times when well I think my wife would have taken away the laptop and thrown it through the window or made me an ex husband if I was in reality still at work at that those hours. I am sure if the issue over these loans was not resolved on Friday something more important had to take priority on the day and ac tends to kind of shut down at weekends, which for a small organisation numbers wise is understandable.
