Post by blender on May 31, 2014 15:53:23 GMT
There are a few changes on this page. We have lost the little note which told us how many of the live auctions were in our watchlist - an odd but long-standing feature. Recently this has enabled us to calculate the number of live 'whole loan' auctions, by subtracting the number of ordinary live loan requests. I think we were not intended to know that during trial and in future we are not to know what there is which we are unable to see. FC will keep their trial performance more private. Whole loans, by the way, now 24 in the loan book, just over £1M of exclusively A, B & C, and probably not much more to come.
The main change, however, and very welcome, is some graphs of actual % loss (bad debt) and expected loss for the various tranches of loans since the start, with months into the loan period as the x axis. This shows that the 2010 and 2011 loans diverged from expectation to produce twice the expected losses (6% v 3% after 30 months). But 2012 loans are currently conforming well to a raised expectation of loss. H1 2013 looks better than expectation so far, but it is early days and the C- loans do not yet figure in these results. The message seems to be that after a poor start, checking was improved and you might expect FC to keep improving both against expectations and absolutely. This may well be the case. Another message may be 'sell your old loans', which I do anyway.
One thing that has not been corrected is that the average gross rate histogram still says it is for the last five loans when it is the last ten. To get 5 you have to first select a different number (try 10 - no change) and then select 5, to get the real histogram. Why has this not been fixed?
The main change, however, and very welcome, is some graphs of actual % loss (bad debt) and expected loss for the various tranches of loans since the start, with months into the loan period as the x axis. This shows that the 2010 and 2011 loans diverged from expectation to produce twice the expected losses (6% v 3% after 30 months). But 2012 loans are currently conforming well to a raised expectation of loss. H1 2013 looks better than expectation so far, but it is early days and the C- loans do not yet figure in these results. The message seems to be that after a poor start, checking was improved and you might expect FC to keep improving both against expectations and absolutely. This may well be the case. Another message may be 'sell your old loans', which I do anyway.
One thing that has not been corrected is that the average gross rate histogram still says it is for the last five loans when it is the last ten. To get 5 you have to first select a different number (try 10 - no change) and then select 5, to get the real histogram. Why has this not been fixed?
