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Post by funtimedave on Mar 24, 2018 17:20:20 GMT
The team seem to be working hard by sending out emails on a Sunday
Assume anyone registered will have got an email. I will let Welendus provide the detail not to steal their thunder too much.
Personally I like the ability to now lend at a range - felt too rigid and a bit of guess work of what was the sweet spot before. I also like the ability to set the diversity ratio - again though I will be keeping that at an absolute minimum - if I see cash drag then will look to other platforms rather that increasing it. The grace period for borrowers - not sure what I am meant to base my setting to on this. I understand the principle but have no knowledge / experience of the history. If I chnage it to be 30 days does that mean Welendus give the borrower more time to repay or is it just an admin exercise on their side.
I like the principle of welendus trying to put a more affordable solution out there for people to make some borrowings - so if this is true I would like to support the principle and them as a company
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rzys
Member of DD Central
Posts: 56
Likes: 44
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Post by rzys on Mar 24, 2018 21:10:12 GMT
It's still Saturday, no? Please tell me I've not blinked and missed a day!
The sliders don't seem to be working on my phone (Android). Maybe dropdown menus would be easier?
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Post by df on Mar 24, 2018 22:57:12 GMT
If I chnage it to be 30 days does that mean Welendus give the borrower more time to repay or is it just an admin exercise on their side. This new feature is about flexibility for lenders, not for borrowers. If you change to 30 days you will increase your chance to get the interest, but risk with longer cash drag if the loan isn't repaid within that period.
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Post by funtimedave on Mar 25, 2018 17:02:12 GMT
It's still Saturday, no? Please tell me I've not blinked and missed a day! The sliders don't seem to be working on my phone (Android). Maybe dropdown menus would be easier? You were right - The sliders were hard to get working at first even on the laptop - mainly as the top and bottom are set on the same point - I think you adjust the lower so slide left first
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Post by sayyestocress on Mar 26, 2018 8:23:12 GMT
If I chnage it to be 30 days does that mean Welendus give the borrower more time to repay or is it just an admin exercise on their side. This new feature is about flexibility for lenders, not for borrowers. If you change to 30 days you will increase your chance to get the interest, but risk with longer cash drag if the loan isn't repaid within that period. It's a shame we don't have data on whether the 30 day setting is worth us using yet. On the stats page currently 27 % of loans don't repay within 7 days of the due date, which drops to 21% after 14 days overdue. There's no stat for 30 days overdue and we're too early in the loan book for the 90 day default stat (currently zero) to be meaningful. I haven't done any proper maths but the 14 day setting may not be worth it based on the available sample; you've only got roughly a 1 in 5 chance that your 7 day non-payer will pay up before 14 days are up. Of course this'll be an average over all rates/risks, so there's probably an optimum setting for each band but we don't have the data to work that out at this point in time. I would hope that the 30 day setting has more of an impact than 14 because it would likely mean the borrower has received another pay packet, which may mean they can now afford the repayment. I like the way we have access to some data and and I do like these new customisation options. The average loan period is 96 days so the question is statistically how many days potentially earning nothing is it best to wait before forsaking 3 months worth of interest? It looks like it's up to us to conduct our own experiments with settings to try and work out the optimum. Unfortunately I don't have deep enough pockets to test with a big enough sample
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Post by nsiam on Mar 26, 2018 9:22:11 GMT
It's still Saturday, no? Please tell me I've not blinked and missed a day! The sliders don't seem to be working on my phone (Android). Maybe dropdown menus would be easier? Hi rzys, this feature will be released for mobile very soon.
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Post by nsiam on Mar 26, 2018 9:24:12 GMT
This new feature is about flexibility for lenders, not for borrowers. If you change to 30 days you will increase your chance to get the interest, but risk with longer cash drag if the loan isn't repaid within that period. It's a shame we don't have data on whether the 30 day setting is worth us using yet. On the stats page currently 27 % of loans don't repay within 7 days of the due date, which drops to 21% after 14 days overdue. There's no stat for 30 days overdue and we're too early in the loan book for the 90 day default stat (currently zero) to be meaningful. I haven't done any proper maths but the 14 day setting may not be worth it based on the available sample; you've only got roughly a 1 in 5 chance that your 7 day non-payer will pay up before 14 days are up. Of course this'll be an average over all rates/risks, so there's probably an optimum setting for each band but we don't have the data to work that out at this point in time. I would hope that the 30 day setting has more of an impact than 14 because it would likely mean the borrower has received another pay packet, which may mean they can now afford the repayment. I like the way we have access to some data and and I do like these new customisation options. The average loan period is 96 days so the question is statistically how many days potentially earning nothing is it best to wait before forsaking 3 months worth of interest? It looks like it's up to us to conduct our own experiments with settings to try and work out the optimum. Unfortunately I don't have deep enough pockets to test with a big enough sample Hi sayyestocress, The 30 days stats will be added very soon. We will also be updating the interest pay-out structure very soon so lenders can see the return sooner. More updates to follow. Best, Nadeem
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Post by df on Mar 26, 2018 11:15:54 GMT
This new feature is about flexibility for lenders, not for borrowers. If you change to 30 days you will increase your chance to get the interest, but risk with longer cash drag if the loan isn't repaid within that period. It's a shame we don't have data on whether the 30 day setting is worth us using yet. On the stats page currently 27 % of loans don't repay within 7 days of the due date, which drops to 21% after 14 days overdue. There's no stat for 30 days overdue and we're too early in the loan book for the 90 day default stat (currently zero) to be meaningful. I haven't done any proper maths but the 14 day setting may not be worth it based on the available sample; you've only got roughly a 1 in 5 chance that your 7 day non-payer will pay up before 14 days are up. Of course this'll be an average over all rates/risks, so there's probably an optimum setting for each band but we don't have the data to work that out at this point in time. I would hope that the 30 day setting has more of an impact than 14 because it would likely mean the borrower has received another pay packet, which may mean they can now afford the repayment. I like the way we have access to some data and and I do like these new customisation options. The average loan period is 96 days so the question is statistically how many days potentially earning nothing is it best to wait before forsaking 3 months worth of interest? It looks like it's up to us to conduct our own experiments with settings to try and work out the optimum. Unfortunately I don't have deep enough pockets to test with a big enough sample Yes, it is up to us to experiment with different options. It is very early for any statistics to be meaningful, it's less than 3 months since lending started. I've increased waiting time to 14 days for one of my investments and will probably increase one more to 30 days, but it is just a random move to see what happens, not a result of analysing current stats. The comforting part for me is that the capital is protected, so making wrong decisions won't result in loss (providing the platform doesn't collapse).
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