Bagman
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Post by Bagman on Apr 15, 2016 14:36:49 GMT
Another weekly payment made this morning, it looks like they are getting back on track with this one.
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agent69
Member of DD Central
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Post by agent69 on Apr 15, 2016 16:13:47 GMT
Another weekly payment made this morning, it looks like they are getting back on track with this one. Probably best to wait for more than 1 repayment before suggesting that everything in the garden is rosy. Although in fairness, there doesn't appear to have been a stampede to sell up. I guess the people who offered -4% are probably thinking they jumped the gun a bit.
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am
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Post by am on Apr 15, 2016 17:04:12 GMT
Is anyone willing to admit buying at a 3, 4 or 4.5% discount ? Maybe the borrower has opened a lender account and is buying up their own loan at a discount. Not sure if it's allowed, but it could be difficult to detect if it's a friend of the borrower. Back in the days of cashback and consequent availability of discounted loan parts at FC it struck me that if a borrower didn't have enough cash to pay off the full loan he could offset the some of the cost of the loan by buying discounted loan parts on the SM.
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Post by mrclondon on Apr 15, 2016 17:24:29 GMT
Another weekly payment made this morning, it looks like they are getting back on track with this one.
Given the 2016-17 P&L forecast document shows they are budgeting for receipt of income from the flats in April, September and January (which I assume implies the rent is due at the commencement of each academic term) it would indeed be of grave concern if they skipped any weekly payments this month when their cashflow should just have been boosted by rental income.
Essentially they are forecasting operating losses (before finance costs) for Jun-Aug, and it is towards the end of that period I'd expect weekly payments to be regularly missed.
FWIW I remain happy with my decision to sell at 3% discount. Sales appear to have slowed markedly and there is currently good availability at 2.5% discount.
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sl75
Posts: 2,092
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Post by sl75 on Apr 26, 2016 16:52:42 GMT
Hmmm... my balance in this loan seems to have changed significantly without any transactions having occurred... the "repayments" tab all looks ok, so not the usual cause...
Is it just me?
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mikes1531
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Post by mikes1531 on Apr 26, 2016 17:26:07 GMT
Hmmm... my balance in this loan seems to have changed significantly without any transactions having occurred... the "repayments" tab all looks ok, so not the usual cause... Is it just me? I've bought some parts of this loan at a discount today and haven't noticed a problem, but perhaps I haven't been watching carefully enough. sl75: Can you indicate when the change you noticed might have happened? (i.e. between when and now?)
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Post by steffy on Apr 26, 2016 19:05:49 GMT
I've noticed the same problem today and it occurred twice - first a drop of approx £1000, followed later by another drop of about £250 with no transactions.
Must be a technical glitch)
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sl75
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Post by sl75 on Apr 27, 2016 7:10:20 GMT
I've bought some parts of this loan at a discount today and haven't noticed a problem, but perhaps I haven't been watching carefully enough. sl75 : Can you indicate when the change you noticed might have happened? (i.e. between when and now?) It's changed again overnight (was £604.46 at time of my previous post, now £541.33), again with no transactions having occurred with only an interest transaction having occurred. The reported total investment on my dashboard has also reduced by a similar amount, without a corresponding increase in the cash balance. I have an amount for sale at a 1% discount which I think I'd calculated to reduce my holding to £500. This obviously hasn't been touched, because there's still plenty for sale at larger discounts. chris can you explain?
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Post by chris on Apr 27, 2016 7:14:01 GMT
I've bought some parts of this loan at a discount today and haven't noticed a problem, but perhaps I haven't been watching carefully enough. sl75 : Can you indicate when the change you noticed might have happened? (i.e. between when and now?) It's changed again overnight (was £604.46 at time of my previous post, now £541.33), again with no transactions having occurred. The reported total investment on my dashboard has also reduced by a similar amount, without a corresponding increase in the cash balance. I have an amount for sale at a 1% discount which I think I'd calculated to reduce my holding to £500. This obviously hasn't been touched, because there's still plenty for sale at larger discounts. chris can you explain? Can you report this to customer services please? I'm up to my neck in development and this kind of thing should be going through the official channels as a first port of call.
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sl75
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Post by sl75 on Apr 27, 2016 7:34:53 GMT
Can you report this to customer services please? I'm up to my neck in development and this kind of thing should be going through the official channels as a first port of call. Done.
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Apr 27, 2016 8:30:33 GMT
Hmmm... my balance in this loan seems to have changed significantly without any transactions having occurred... the "repayments" tab all looks ok, so not the usual cause... Is it just me? No not just you, I've just noticed it this a.m. My holding has been reduced by just over 20%. I see you have reported it thru' the "correct" channel as requested, so I will wait and see what happens (please post here when yours has been corrected). I reported a similar problem with loan #57 a couple of weeks ago, which took several days to get corrected, I assumed everybody else affected had their holdings corrected too, but do not know for sure. This is starting to concern me. I invest in <10% of loans available and when I report a problem only 1 or 2 confirm my findings........so one wonders how many other loans have had problems that haven't been highlighted by the more dilligent amongst us. More importantly have the errors been detected by AC and if so when.
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min
Member of DD Central
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Post by min on Apr 27, 2016 8:39:33 GMT
Hmmm... my balance in this loan seems to have changed significantly without any transactions having occurred... the "repayments" tab all looks ok, so not the usual cause... Is it just me? Me too. I seem to have sold £200 ish of the loan (was on at par) but don't seem to have been credited with same amount. (Nothing in statement). My sell instruction hasn't changed but holding has. Have also reported to AC - still awaiting acknowledgment of receipt of email.
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sl75
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Post by sl75 on Apr 27, 2016 8:48:24 GMT
No not just you, I've just noticed it this a.m. My holding has been reduced by just over 20%. I see you have reported it thru' the "correct" channel as requested, so I will wait and see what happens (please post here when yours has been corrected). Can I suggest that you (and anyone else affected) also report through the correct channels so that customer services know it's a problem affecting more than one person, and can escalate to the correct person to investigate further. No reply to email so far ... (or it's stuck in cyberspace somewhere).
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andy2001
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Post by andy2001 on Apr 27, 2016 9:24:24 GMT
My holding has now gone missing also.
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sl75
Posts: 2,092
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Post by sl75 on Apr 27, 2016 15:41:19 GMT
No reply to email so far ... (or it's stuck in cyberspace somewhere). Still no reply to the contact via "official channels" - not even an acknowledgement, so I've sent a chaser, including more details (after analysing the transaction logs for the purchases, sales, and principal repayments, it appears that my correct balance in this loan should be about £768.9875, so overnight the displayed amount dropped from about 78.6% of the correct amount to about 70.4% of the correct amount). Has anyone else had a reply? Are other people's errors a similar percentage of the correct amount, or is something else going on? chris, have any of the reports via the proper channels been escalated to you yet, or is someone else in charge of investigating fundamental accounting errors in AC's systems?
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