angrysaveruk
Member of DD Central
Say No To T.D.S
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Post by angrysaveruk on May 16, 2018 8:59:16 GMT
Is there any way to find loans with late payments instead of going through each loan manually?
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walktall7
Member of DD Central
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Post by walktall7 on May 16, 2018 9:23:50 GMT
If you have loans in MLA in the notes you can put in the date when interest is supposed to be paid. When you go into your MLA loans page as you scan down your loans you will see interest accrued and if this amount seems wrong for your holding in a loan and the corresponding payment date you can then investigate further.
This method does not help for loans in the GBBA account as you do not see accrued interest figures.
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dc848
Posts: 150
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Post by dc848 on May 16, 2018 9:28:52 GMT
Is there any way to find loans with late payments instead of going through each loan manually? Yes.
I am invested in 255 loans currently, and monitor these via spreadsheet.
My calcs determine daily/monthly accrual rate per loan. I compare with current accrued.
I consider a loan to be late if 'current accrual' > 'monthly accrual rate' * 1.33
(that allows 10 days then its late)
My spreadsheet does it instantly and highlights the bad players, by days late, amount due to me.
More details upon request.
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angrysaveruk
Member of DD Central
Say No To T.D.S
Posts: 1,332
Likes: 789
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Post by angrysaveruk on May 16, 2018 10:14:27 GMT
Is there any way to find loans with late payments instead of going through each loan manually? Yes.
I am invested in 255 loans currently, and monitor these via spreadsheet.
My calcs determine daily/monthly accrual rate per loan. I compare with current accrued.
I consider a loan to be late if 'current accrual' > 'monthly accrual rate' * 1.33
(that allows 10 days then its late)
My spreadsheet does it instantly and highlights the bad players, by days late, amount due to me.
More details upon request.
Thanks that is very helpful. So basically do something like: 1) Calculate Expected Monthly INterest = Holding * Interest / 12 2) Check IF Accrued interest is greater than 4 * Expected Monthly Interest / 3
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dc848
Posts: 150
Likes: 92
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Post by dc848 on May 16, 2018 10:19:12 GMT
Yes.
I am invested in 255 loans currently, and monitor these via spreadsheet.
My calcs determine daily/monthly accrual rate per loan. I compare with current accrued.
I consider a loan to be late if 'current accrual' > 'monthly accrual rate' * 1.33
(that allows 10 days then its late)
My spreadsheet does it instantly and highlights the bad players, by days late, amount due to me.
More details upon request.
Thanks that is very helpful. So basically do something like: 1) Calculate Expected Monthly INterest = Holding * Interest / 12 2) Check IF Accrued interest is greater than 4 * Expected Monthly Interest / 3 After lunch Im going to PM you with a pic of a section of my spreadsheet. You might find it interesting.
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niceguy37
Member of DD Central
Posts: 504
Likes: 254
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Post by niceguy37 on May 16, 2018 10:29:17 GMT
Is there any way to find loans with late payments instead of going through each loan manually? Yes.
I am invested in 255 loans currently, and monitor these via spreadsheet.
My calcs determine daily/monthly accrual rate per loan. I compare with current accrued.
I consider a loan to be late if 'current accrual' > 'monthly accrual rate' * 1.33
(that allows 10 days then its late)
My spreadsheet does it instantly and highlights the bad players, by days late, amount due to me.
More details upon request.
I think that AC (and other P2P platforms) needs to provide this information automatically if they want to move to main-stream volume lending. By now you'd think that most people realise late payments happen in P2P. Generally lenders are happy to let the platform get on with monitoring payments and recoveries. But we want to be able to easily see the state of play without having to maintain separate spreadsheets.
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