tomtom
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Post by tomtom on Mar 29, 2017 8:29:03 GMT
Good morning Gordon, I remember reading sometime ago that you were looking into consilidation small ammounts of the same laon into a single figure, any news when and if this is going to happen and if it happens when would it occur, ie at renewal or at regular intervals during the loan period?
Regards
tomtom
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dermot
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Post by dermot on Mar 29, 2017 8:56:26 GMT
Maybe adding it as a task on the end of the monthly interest run would be good enough?
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Post by Collateral Rep on Mar 29, 2017 9:34:30 GMT
Hi tomtom, Yes we have this done now in test mode, so should be uploaded by the weekend. The way we have it now is that on renewals it will consolidate all loan parts into one. We did think about doing it monthly but really we could do with feedback from yourselves, as some investors may want to see all loan parts bought throughout the loan period. Many thanks, Gordon |
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dermot
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Post by dermot on Mar 29, 2017 9:55:27 GMT
My view would be for a monthly consolidation - I often pick up small scraps(*) on the secondary market and my loan book looks very untidy and more difficult to keep track of.
In addition, it is not clear what happens to very small amounts of interest - lenders would be better served with monthly consolidation, I think. Even if lenders hold multiple larger chunks, it would avoid rounding errors.
Perhaps an admin would care to set up a poll?
(*) I admit I'm a bit bemused as to why people bother putting up fractions of a loan for the odd few pence ....
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tomtom
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Post by tomtom on Mar 29, 2017 10:01:13 GMT
Thanks Gordon, for whats it worth i can understand your view that some people might like to keep individal purchases of loans separate but I have noticed over the past few months that there are scraps of loans (less than £1.00) often left on the board which could be lumped up at regular intervals.
For whats it worth unlike my looks which have improved with age my spelling and writting has not improved with age.
Regards
tomtom
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tomtom
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Post by tomtom on Mar 29, 2017 10:04:01 GMT
Thanks Gordon, for whats it worth i can understand your view that some people might like to keep individal purchases of loans separate but I have noticed over the past few months that there are scraps of loans (less than £1.00) often left on the board which could be lumped up at regular intervals. For whats it worth unlike my looks which have improved with age my spelling and writting has not improved with age. Regards tomtom "has improved not have improved." just to prove my point. tomtom
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keystone
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Post by keystone on Mar 29, 2017 12:51:52 GMT
If there is a poll can we have an option for weekly, daily and instant consolidation as well.  |
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keystone
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Post by keystone on Mar 29, 2017 12:54:38 GMT
When you have implemented consolidation of loan parts, how are sales handled, FIFO or LIFO?
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tomtom
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Post by tomtom on Mar 30, 2017 0:32:29 GMT
When you have implemented consolidation of loan parts, how are sales handled, FIFO or LIFO? Does that make any difference as you will be selling a fixed ammount rather than an individule loan?
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tarq
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Post by tarq on Mar 30, 2017 10:06:22 GMT
I would have thought the best time to consolidate would be after the month end interest payment.
Then all the parts would have the same date/period, easier to work out future amounts.
IMHO
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Post by Collateral Rep on Mar 30, 2017 11:57:23 GMT
Afternoon,
To start with we'll just consolidate loan parts when renewing the loan, then look at further consolidation if still required.
Where there are multiple loan parts we could add a collapse feature, so just one entry then click a + and all loan parts are shown.
Many thanks,
Gordon
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littonowl
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Post by littonowl on Mar 30, 2017 12:03:03 GMT
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tomtom
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Post by tomtom on Mar 30, 2017 19:11:19 GMT
Hi tomtom , Yes we have this done now in test mode, so should be uploaded by the weekend. The way we have it now is that on renewals it will consolidate all loan parts into one. We did think about doing it monthly but really we could do with feedback from yourselves, as some investors may want to see all loan parts bought throughout the loan period. Many thanks, Gordon Evening Gordon, are you still on for introducing the consolidation prog. this weekend which would mean the next set of loans being renewed would be consolidated.? Tomtom
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Mar 30, 2017 19:39:10 GMT
Consolidate and collapse would be a better option imho. If someone buys loans throughout the life of a loan they may wish to choose the oldest to sell first or vice versa. Can I just check something. If a loan part is sold it is just the base amount is it not? Is the accrued interest left on account until the loan matures/ renews?
If this is the case then lenders still need time to grab the data for their spreadsheets before the lunes are consolidated.
Why not give a button to collapse, consolidate or leave till end of loan for lenders to make up their own minds?
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hantsowl
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Post by hantsowl on Apr 3, 2017 8:53:36 GMT
Consolidation on this mornings renewal seemed to work well.
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