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Post by Ton ⓉⓞⓃ on Jun 30, 2014 21:24:32 GMT
I don't get the point behind listing the other tranche loans so early (barring the one drawing down in August) apart from showing that they are already underwritten. The ones in OCT/NOV will surely have a long way to go before they are live & I doubt any of us would commit funds so early when draw down is a number of months away?! And of course there's still one tranche missing, I think, it almost says something like 'we have a lot of u/wers, so here's the place to come' Two lenders on TC have actually come over to AC as a result as far as I'm aware. It's got me thinking AC might start to dominate if the others don't get their act together.
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Post by Ton ⓉⓞⓃ on Jun 30, 2014 21:29:26 GMT
Isn't it because the security for all tranches is to be ranked equally? In the Q&A of the first tranche the second answer to a question says this one has priority, but a later Q is querying that. IN EDIT. A little while later they were all made equal I believe.
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spockie
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Post by spockie on Jul 9, 2014 21:42:21 GMT
Loan now drawn down. That's what I call fast!
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Post by andrewholgate on Jul 10, 2014 9:02:23 GMT
Hurrah!
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Post by Ton ⓉⓞⓃ on Nov 22, 2014 11:55:05 GMT
Unless I'm going mad the Fourth Tranche was drawn yesterday.
But I see that of the original 250k there is now only 171k 267
All that gone in one day?
IN EDIT And that a month late, does that imply business is slowing down for them?
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tonyr
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Post by tonyr on Nov 22, 2014 20:20:53 GMT
Unless I'm going mad the Fourth Tranche was drawn yesterday. But I see that of the original 250k there is now only 171k 267 All that gone in one day? IN EDIT And that a month late, does that imply business is slowing down for them? I think what happened is that it was drawn down very late last night. Initially the "manual investment" is disabled, you have to enable it for the loan parts to appear as available for sale. So expect this to increase to 250k unless underwriters want to keep any (only 2% of mine has shifted).
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duck
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Post by duck on Nov 23, 2014 14:08:01 GMT
Isn't it because the security for all tranches is to be ranked equally? I note Tranche 4 lists 'debenture' only ............ along with a symbol of a truck.
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duck
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Post by duck on Oct 24, 2017 16:07:10 GMT
Nothing like digging out an old thread.
Tranche 2 currently showing annual rate of 0%
Payment schedule looks to be in a mess Octobers payment is shown as credited to November.
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duck
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Post by duck on Oct 25, 2017 5:22:50 GMT
Contacted AC awaiting response.
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duck
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Post by duck on Oct 25, 2017 15:26:31 GMT
AC have got back to me (many thanks) and the following update has been added to the loan.
25th Oct 2017
Lenders may be aware that the Annual Rate on this loan is stated at 0%. This is a technical issue which we are working to resolve. The correct Annual Rate is 10.5%.
Furthermore, Lenders will note that the interest payment made by the Borrower in October 2017 has been incorrectly allocated to November 2017. We apologise for any confusion which this may have caused and write to advise that this will be corrected on receipt of the November 2017 interest payment (due 22 November 2017). Please note that our IT team are working on a solution to prevent this problem occurring in future months."
With regards
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mikes1531
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Post by mikes1531 on Oct 25, 2017 20:35:22 GMT
AC have got back to me (many thanks) and the following update has been added to the loan. 25th Oct 2017
Lenders may be aware that the Annual Rate on this loan is stated at 0%. This is a technical issue which we are working to resolve. The correct Annual Rate is 10.5%.
Furthermore, Lenders will note that the interest payment made by the Borrower in October 2017 has been incorrectly allocated to November 2017. We apologise for any confusion which this may have caused and write to advise that this will be corrected on receipt of the November 2017 interest payment (due 22 November 2017). Please note that our IT team are working on a solution to prevent this problem occurring in future months."IIRC this -- the crediting of a payment to the wrong month -- has happened in the past. It caused enough problems with accrued interest calculations and the allocation of accrued interest on parts sold/bought during the affected period that AC decided that the best course of action was to suspend trading in the affected loan until the problem was corrected when the next payment was received. That was some time ago, and in the course of dealing with that AC could have worked out how they could avoid a similar SM suspension if a similar incident were to happen in the future. Cross your fingers!
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Post by notaclue on Apr 13, 2018 12:01:25 GMT
I wonder how the urgent meeting went?
Lets hope they make a payment soon!
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lobster
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Post by lobster on Apr 13, 2018 13:16:27 GMT
I wonder how the urgent meeting went? Lets hope they make a payment soon! Well all that's been promised is an update by 27th April, so it could be that we'll need to wait till then for further news. Having said that, a payment in the interim would be most welcome
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ding
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Post by ding on Apr 24, 2018 15:17:44 GMT
Well all that's been promised is an update by 27th April, so it could be that we'll need to wait till then for further news. Having said that, a payment in the interim would be most welcome Update appeared early - 18th April. I'm overweight here with these loans Also had 3x1k with the same company via Archover. They are renewing now, I won't be! W/O the issue here I would still have not renewed as I need to recover some cash. But its a timely reminder to be careful of having to much invested with a single company.
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Steerpike
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Post by Steerpike on Apr 24, 2018 15:24:36 GMT
Same people but different company on Archover.
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