webwiz
Posts: 1,133
Likes: 210
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Post by webwiz on Sept 23, 2014 19:47:42 GMT
23.9.2014
Can anyone explain why PF has not increased?
Provision Fund
Provision Fund balance £606,564 No change
Claims made on the Provision Fund Nil
Lender total which is eligible for the Provision Fund £32,662,400 No change
Projected claims (1%) £326,624 No change
Cover ratio for losses 1.86 No change
Current Loan Book
Number of loans 76 Up 5
Amount of loans £83,367,007 Up 9,393,533
Value of the security £152,500,449
Weighted Average Loan to Value 64%
Loan Book History
Number of loans made 101 Up 8
Value of loans made £94,008,284 Up 10,023,877
Approved Loan Drawdown Forecast
Next 14 days £12,949,000
Next 30 days £27,124,000
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Post by wellesleyco on Sept 26, 2014 11:28:06 GMT
Hi All, I am sorry for the delay in updating and publishing our loan statistics. We are currently working on the process of speeding up the crediting of funds to our loan statistics, which we hope to be in place shortly. As ever, we would like to let you know that to date we have not had a default and our loanbook continues to grow at an unrivaled rate. Provision Fund Balance: £767,883 Claims made on the Provision Fund: Nil Lender total which is eligible for the Provision Fund: £32,662,400 Projected claims (1%): £326,624 Cover ratio for losses 1.86 Number of loans 76 Amount of loans £83,367,007 Value of the security £152,500,449 Weighted Average Loan to Value 64% Number of loans made 101 Value of loans made £94,008,284
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webwiz
Posts: 1,133
Likes: 210
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Post by webwiz on Oct 13, 2014 18:46:56 GMT
13.10.2014:
Congratulations on breaking through £100million!
Provision Fund
Provision Fund balance £860,192
Claims made on the Provision Fund Nil
Lender total which is eligible for the Provision Fund £39,873,388.31
Projected claims (1%) £398,733
Cover ratio for losses 1.86
Current Loan Book
Number of loans 80
Amount of loans £86,263,789
Value of the security £158,675,449
Weighted Average Loan to Value 64%
Loan Book History
Number of loans made 106
Value of loans made £100,463,705
Approved Loan Drawdown Forecast
Next 14 days £10,218,500
Next 30 days £24,389,500
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webwiz
Posts: 1,133
Likes: 210
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Post by webwiz on Oct 31, 2014 8:40:13 GMT
31.10.14 @ 0840
There seem to have been some adjustments, without any extra lending? The liability on the PF has increased by nearly £1 million without any increase in the PF.
Provision Fund
Provision Fund balance £860,192 No change
Claims made on the Provision Fund Nil
Lender total which is eligible for the Provision Fund £40,837,301 Up £963,913
Projected claims (1%) £408,373 Up £9640
Cover ratio for losses 1.86
Current Loan Book
Number of loans 80 No change
Amount of loans £86,263,789 No change
Value of the security £158,790,449 No change
Weighted Average Loan to Value 64%
Loan Book History
Number of loans made 107 Up 1
Value of loans made £100,463,705 No change
Approved Loan Drawdown Forecast
Next 14 days £9,500,000
Next 30 days £21,450,000
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webwiz
Posts: 1,133
Likes: 210
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Post by webwiz on Nov 9, 2014 19:55:30 GMT
The liabilty of the PF has gone up another £3 million without any increase in the PF.
Provision Fund
Provision Fund balance £860,192
Claims made on the Provision Fund Nil
Lender total which is eligible for the Provision Fund £43,836,541
Projected claims (1%) £438,365
Cover ratio for losses 1.86
Current Loan Book
Number of loans 85
Amount of loans £95,015,628
Value of the security £169,692,727
Weighted Average Loan to Value 64%
Loan Book History
Number of loans made 111
Value of loans made £105,861,905
Approved Loan Drawdown Forecast
Next 14 days £9,500,000
Next 30 days £21,450,000
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webwiz
Posts: 1,133
Likes: 210
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Post by webwiz on Dec 9, 2014 11:49:37 GMT
9.12.2014
Provision Fund
Provision Fund balance £926,747
Claims made on the Provision Fund Nil
Lender total which is eligible for the Provision Fund £51,169,966
Projected claims (1%) £511,700
Cover ratio for losses 1.86
Current Loan Book
Number of loans 94
Amount of loans £113,085,420
Value of the security £199,177,727
Weighted Average Loan to Value 64%
Loan Book History
Number of loans made 126
Value of loans made £125,128,956
Approved Loan Drawdown Forecast
Next 14 days £19,400,000
Next 30 days £41,029,000
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webwiz
Posts: 1,133
Likes: 210
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Post by webwiz on Dec 17, 2014 12:40:53 GMT
17.12.2014 Once again the PV has not increased even though the amount eligible for it has.
Provision Fund
Provision Fund balance £926,747
Claims made on the Provision Fund Nil
Lender total which is eligible for the Provision Fund £52,480,322
Projected claims (1%) £524,803
Cover ratio for losses 1.86
Current Loan Book
Number of loans 96
Amount of loans £124,140,420
Value of the security £200,087,727
Weighted Average Loan to Value 64%
Loan Book History
Number of loans made 130
Value of loans made £136,183,956
Approved Loan Drawdown Forecast
Next 14 days £19,400,000
Next 30 days £41,029,000
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Post by yorkshireman on Dec 17, 2014 13:30:07 GMT
No doubt this will be the usual prompt for the provision fund to be increased.
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Post by chielamangus on Dec 19, 2014 12:46:00 GMT
17.12.2014 Once again the PV has not increased even though the amount eligible for it has. Provision Fund Provision Fund balance £926,747 Claims made on the Provision Fund Nil Lender total which is eligible for the Provision Fund £52,480,322 Projected claims (1%) £524,803 Cover ratio for losses 1.86 There is no need for the Provision Fund to increase just because there is an increase in eligible loans. The cover is 1.86 projected claims.
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webwiz
Posts: 1,133
Likes: 210
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Post by webwiz on Dec 19, 2014 18:58:05 GMT
17.12.2014 Once again the PV has not increased even though the amount eligible for it has. Provision Fund Provision Fund balance £926,747 Claims made on the Provision Fund Nil Lender total which is eligible for the Provision Fund £52,480,322 Projected claims (1%) £524,803 Cover ratio for losses 1.86 There is no need for the Provision Fund to increase just because there is an increase in eligible loans. The cover is 1.86 projected claims. But the website says: "Every time we make a new loan, a portion of the loan fee will be paid into the Provision Fund with the amount dependent on the risk of the loan."
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Post by chielamangus on Dec 19, 2014 19:31:51 GMT
Perhaps it is. And perhaps some is withdrawn from the fund when a loan is repaid. You will have to ask W for the detail. For my own reassurance I just go on the cover for expected losses, and the fact that to date there have been no losses.
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shimself
Member of DD Central
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Post by shimself on Dec 19, 2014 19:46:41 GMT
Perhaps it is. And perhaps some is withdrawn from the fund when a loan is repaid. You will have to ask W for the detail. For my own reassurance I just go on the cover for expected losses, and the fact that to date there have been no losses. When a loan is repaid they can't reasonably (fairly is the fashionable term isn't it) take more out of the fund than was put in. If they want to weaken the provision fund they ought to tell us and explain why (which would be an ok message, we haven't had any losses? so we are reducing the fund) I don't think they should mind, it's much too soon to tell @ wellesleyco could you comment please?
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Post by chielamangus on Dec 19, 2014 20:24:07 GMT
If the risk of the new loan is lower than one it is replacing (or part replacing) then a reduction in the Fund could be reasonable. However, I don't see that the fund has been weakened. The cover for expected losses (an FCA figure) has been about 1.86 for months.
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webwiz
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Likes: 210
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Post by webwiz on Dec 19, 2014 23:13:16 GMT
Perhaps it is. And perhaps some is withdrawn from the fund when a loan is repaid. You will have to ask W for the detail. For my own reassurance I just go on the cover for expected losses, and the fact that to date there have been no losses. But the PV is exactly the same, and was on the previous occasions when it was not increased as expected, so it is inconceivable that it was caused by reductions due to loans being repaid. I am not overly concerned about this but it is an anomaly which needs explaining.
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webwiz
Posts: 1,133
Likes: 210
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Post by webwiz on Dec 28, 2014 22:47:55 GMT
Dec 28th 2014 Can anyone make sense of these figures?
Provision Fund
Provision Fund balance £926,747 No change Claims made on the Provision Fund Nil No change Lender total which is eligible for the Provision Fund £52,480,322 No change Projected claims (1%) £524,803 No change Cover ratio for losses 1.86 No change Current Loan Book
Number of loans 100 Up 4 Amount of loans £127,061,420 Up £2,921,000 Value of the security £213,777,727 Up £13,690,000 Weighted Average Loan to Value 64%
Loan Book History
Number of loans made 133 Up 3 Value of loans made £143,312,956 Up £7,129,000 Approved Loan Drawdown Forecast
Next 14 days £15,680,000
Next 30 days £33,928,810
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