Post by alison on Feb 25, 2015 16:04:39 GMT
webbski9 alison Thank you for your comments.
Deal flow will increase considerably when we formally launch our asset backed model in the next 7-10 days. Legals are in the final stages and I will create a new thread for this just before we list the first loan under this model.
We feel we have laid a great foundation for us to build on with the launch of our new asset backed model. We have spent the last 12 months developing the platform, perfecting back office processes / procedures and laying this foundation.
We have a security trustee company, an FCA regulated back-up servicing provider (if they ceased to trade they also have a back up servicing provider that would step in), secondary loan market, tax statements etc. which a lot of platforms still currently don't have in place. Many of these are solely for lender protection, in that if we were to cease to trade, our lenders' interests would still be protected in the loans they still have capital outstanding in. Although we don't envisage this happening, we have taken all necessary steps to protect our lenders' interests should this occur.
We currently don't have huge overheads which means we can comfortably survive off low volumes. As I have said previously, my aim is to deliver our lenders with sustainable returns through a number of different P2P products. The new asset backed model is the first of many we hope to launch.
If you have any specific questions you would like me to answer, please DM me or email me. Alternatively if anything brings you to picturesque Wales, you are more than welcome to pop in and say hello!
alison Any faster payments received today will be credited to lenders' accounts as soon as we receive them into the client account.
Thanks for the update Parag.
Looking forward to the next stage of your evolution.
Hope it all works out well for you.