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Post by andrewholgate on May 13, 2016 8:41:12 GMT
Should be out in the next 7-14 days
Just to note we have completed recovery on 9 loans so far where we have recovered 100% of capital and 95% of accrued interest (lenders agreed a deal on 1 loan).
We are still working on 8 loans and there will be some losses from those.
We've only had 2-3 defaults in the last 12 months.
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Post by andrewholgate on May 13, 2016 13:00:23 GMT
How come I do a post like this and I get no responses. I then do a post explaining why the purple on the website has changed by 1.7% blue penetration and there is uproar?* I can't win!
* spurious example to make a point.
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Post by crabbyoldgit on May 13, 2016 13:49:47 GMT
Lifes a **** then you die, your a man comes with existence , come down i will take you out in boat ,you can buy me lots of beer and i will take advantage of your money and make you even more miserable. It is life, as one of my old customers said do not get old its a bugger trouble is the alterative die young does not appeal. Yours crabbyoldgit on a good day!  |
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Post by GSV3MIaC on May 13, 2016 17:51:26 GMT
How come I do a post like this and I get no responses. I then do a post explaining why the purple on the website has changed by 1.7% blue penetration and there is uproar?* I can't win! * spurious example to make a point. Everyone is too busy moaning about the dashboard change to engage with you on trivia like defaulted loans? You gotta understand your customers' priorities! 8>.
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registerme
Member of DD Central
Posts: 6,624 
Likes: 6,437
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Post by registerme on May 14, 2016 11:06:36 GMT
How come I do a post like this and I get no responses. I then do a post explaining why the purple on the website has changed by 1.7% blue penetration and there is uproar?* I can't win! * spurious example to make a point. Probably because we're waiting on the data, which we hope to see in the next 6-13 days .
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Post by lynnanthony on May 14, 2016 18:25:40 GMT
How come I do a post like this and I get no responses. I then do a post explaining why the purple on the website has changed by 1.7% blue penetration and there is uproar?* I can't win! * spurious example to make a point. Fiddle faddling around with a perfectly good user interface is seen as unnecessary. On the other hand, defaults are inevitable and recoveries are necessary. And as has been said, when you give us the promised information rather than inform us that you are going to give us the promised information, then I suspect you may get some comment.
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bababill
Member of DD Central
Posts: 529
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Post by bababill on May 14, 2016 22:59:51 GMT
It is discouraging to hear 47% of the loans (8 out of 17) referred to above will yield capital losses. This should not happen when all loans are meant to be asset backed.
Not knowing how many loans have defaulted in the last twelve months is worrying also. Is it two or three? If I have invested in those two or three then surely I would like to know definitely the exact details.
Was nice to wake up and see the new dashboard that implied my total investment was 100% invested on the GBBA when in fact it is less then 40%.
Nevertheless I am still a happy Assetz customer and would recommend the product to the others.
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ben
Posts: 2,020
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Post by ben on May 14, 2016 23:07:32 GMT
Its discouraging to hear 47% of the loans (8 out of 17) referred to above will yield capital losses. This should not happen when all loans are meant to be asset backed. Not knowing how many loans have defaulted in the last twelve months is worrying also. Is it two or three? If I have invested in those two or three then surely I would like to know definitely the exact details. Was nice to wake up and see the new dashboard that implied my total investment was 100% invested on the GBBA when in fact its less 40%. Nevertheless I am still a happy Assetz customer and would recommend the product to the others. recovery costs and over valuation of assets, quick sales hopefuly not to much of a loss though
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
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Post by ilmoro on May 15, 2016 0:23:46 GMT
It is discouraging to hear 47% of the loans (8 out of 17) referred to above will yield capital losses. This should not happen when all loans are meant to be asset backed. Not knowing how many loans have defaulted in the last twelve months is worrying also. Is it two or three? If I have invested in those two or three then surely I would like to know definitely the exact details. Was nice to wake up and see the new dashboard that implied my total investment was 100% invested on the GBBA when in fact it is less then 40%. Nevertheless I am still a happy Assetz customer and would recommend the product to the others. Depends on definition of default - if paying default interest because you are outside original terms ie not paid interest or capital on time, then there are 16 defaults currently, 10 recoveries, I would argue there have been 5-6 defaults in this 12 months #8, 45, 86, 115, 123, 172 plus a few others that are paying default interest or are in arrears but AC have been generous in their treatment eg #26 (comment not criticism).
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bigfoot12
Member of DD Central
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Post by bigfoot12 on May 15, 2016 15:52:43 GMT
It is discouraging to hear 47% of the loans (8 out of 17) referred to above will yield capital losses. He didn't say that there would be losses on all of the eight. "We are still working on 8 loans and there will be some losses from those." This should not happen when all loans are meant to be asset backed. I think that lending at rates between 8% and 15% means we should expect losses.
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trouble
Member of DD Central
Posts: 127
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Post by trouble on May 15, 2016 16:50:50 GMT
It is discouraging to hear 47% of the loans (8 out of 17) referred to above will yield capital losses. He didn't say that there would be losses on all of the eight. "We are still working on 8 loans and there will be some losses from those." This should not happen when all loans are meant to be asset backed. I think that lending at rates between 8% and 15% means we should expect losses. And on a bunch of loans the Banks won't touch with a bargepole, and they don't get it right on all the ones they do back. Return after losses is the key figure, hence diversification is absolutely key when investing in asset classes like this. The hindsight play is easy.
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bababill
Member of DD Central
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Post by bababill on May 16, 2016 5:00:03 GMT
Don't forget there are many loans less then 8%. In fact right now 7 out of 14 loans with units available are sub 8% albeit in small quantities.
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