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Post by yvonne on Jun 5, 2014 10:44:41 GMT
Please can anyone tell me why AC are not putting any new loans on their website and I notice nothing at all is coming on the Aftermarket either. This is the leanest period I have seen in the past year!
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Jun 5, 2014 11:47:32 GMT
Please can anyone tell me why AC are not putting any new loans on their website and I notice nothing at all is coming on the Aftermarket either. This is the leanest period I have seen in the past year! I'd suggest moving this thread to AC's section as you'll get more specific responses there. In answer to your question, this has been an issue for a little while, unfortunately, but AC are adamant they will hit set targets as set dates to conclude with £100m loan back by year end DEC 14. Highly unlikely the way we're going, but there's a little faith left in the tank to hope that target doesn't seem as distant as it does now. PS Welcome to the board 
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Post by Ton ⓉⓞⓃ on Jun 5, 2014 17:39:45 GMT
Please can anyone tell me why AC are not putting any new loans on their website and I notice nothing at all is coming on the Aftermarket either. This is the leanest period I have seen in the past year! It's a good question, I'm not aware of a direct answer either from AC or anywhere else. The only things from the horses mouth that might have an answer in them somewhere are; >AC has said that they are trying to space loans out so that we don't get all the loans in one month then a period of no loans. This makes me think that sticking one (or indeed two loans) in preview keeps the 'shopfront' looking busy while they sort out the 'pipeline' that goes under the back office >The other thing is the year end target, I think AC has probably sussed out what their systems & staff can cope with and maybe they're all working at maximum. There are something like nine or ten loans with are 'In Processing' where they have the lawyers writing small print and checking other peoples small print; all these loans add up to a few million I'm not sure about the total tho'. >Even if they're not all working like trojans (trying to get thing to be drawn or developing new loans) it is a little odd to keep pumping out new loans yet nothing seems to be getting drawn, it makes good business sense to have balance in this. Perhaps so that Underwriters funds are best used. > Also OG thinks he spotted gross misuse of bananas & clearly this is going to have a detrimental effect while staff get re-training.
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Jun 6, 2014 8:24:05 GMT
I am sure we are all cognoscente of what may or may not be holding things up in general but something that has not been mentioned is the number of new staff that AC have taken on recently. I am sure that AH would not have done this if he thought the market was about to stall but taking on new people is both a drain on management and existing staff time in order to get the newbies up to speed.
So whilst I for one am not to happy about the current level of activity I will give them a bit longer to get up to full speed both on new loans and completing the existing deals.
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