aju
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Post by aju on Jun 4, 2018 0:59:55 GMT
Okay so I was just doing my monthlies today and noticed my Pre-Safeguard product has disappeared altogether from the INVEST summary screen.
Not sure when this happened but I suspect that my 29 defaulted loans left in PreSafeguard product are not important enough to be listed. Not sure how I feel about it though surely they are important and should still appear in the summary page. (Ok I know the defaults are in there under the Earnings "?" and they also show up if someone pays in the Statements screen but for me that's not good enough)
The cynic in me thinks that since zopa has trouble indicating the defaults in the summary of a given product since they decided to just show defaults in summary under the earnings ? button, they would show the product up if defaults were included in each product summary - Also would skew the interest figures quite a bit as well - don;t want too many people spotting that now do we. ;-)
I do think they are not being very genuine in summary in that some of my defaults are paying some interest and some are paying some capital and some are paying both albeit very small - none the less surely the interest rate figures are skewed as a result without the defaults in the picture.
I checked my loanbook using "safe" in the search box and sure enough all I have now are defaults in presafeguard product.
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wapping35
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Post by wapping35 on Jun 4, 2018 7:12:49 GMT
The summary page only shows non-defaulted loans. And as the non-SG's are all + 5 years now, I also show no non-SG's. It disappeared a few weeks back for me.
The defaults are still in my loan books and paying a bit.
This is not a change the summary page has always only showed loans not in default.
W35
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Post by takeshi on Jun 4, 2018 13:43:30 GMT
Somehow I still have 'Pre-Safeguard £1.74'
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wapping35
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Post by wapping35 on Jun 4, 2018 13:45:43 GMT
I believe pre-SG ended in June / July 2013 so shortly all pre-SG will disappear.
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aju
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Post by aju on Jun 4, 2018 15:27:27 GMT
The summary page only shows non-defaulted loans. And as the non-SG's are all + 5 years now, I also show no non-SG's. It disappeared a few weeks back for me. The defaults are still in my loan books and paying a bit. This is not a change the summary page has always only showed loans not in default. W35 Silly me of course it does, thanks for showing me the errors of my ways.  I guess it was a bit of shock to see that gone I didn't realise that I have always known defaults has been missing. My spreadsheets have been telling me this for years now. Its one of my many annoyances with Zopa not showing me defaults on each product or worse obviously showing it in the headline as well. Its way more of an issue now there are many more defaults in my case anyway as I've been doing a lot more non-SG lending of late. I think Ive even got a spreadsheet that details what I feel Zopa needs to be showing but I was just working through the monthly statements stats first when its absence stuck out like a sore thumb. I keep track of the monthly and weekly rate trends and the summary data rate projections and it stuck out there. Oh well at least I can move on to the detailed for each prospect safe in the knowledge that I need to stop keep relying on the summary pages. Soon defaults will be non existent on the Zopa screens apart fro the little earning "?" button unless the tea boy programs that one out as well 
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aju
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Post by aju on Jun 4, 2018 15:34:42 GMT
I believe pre-SG ended in June / July 2013 so shortly all pre-SG will disappear. I was down to 99p last month I guess they finally all paid up, all that is bar the 29 defaults I have still languishing in limbo land. Some will take another 10 years at the rate sthey are paying down. Many will never pay back and will always stay on my loanbook I guess until zopa decides it not worth it any more. I check with them every so often to see what they are doing.
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wapping35
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Post by wapping35 on Jun 4, 2018 16:12:42 GMT
I have 19 defaults in pre-SG and they seem to pay £1-2 a month of the £210.40 they owe/defaulted on. In Z+ I have lots more in default. In the end I found pre-SG default rates were versus Z+ very low and indeed default collections from the pre-SG are far higher as a percentage of the default amount than Z+ is seeing (at least to date). I wish Zopa could get default rates in Z+ down to the pre-SG levels. But realistically that is not going to happen.  |
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aju
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Post by aju on Jun 4, 2018 17:30:18 GMT
I have 19 defaults in pre-SG and they seem to pay £1-2 a month of the £210.40 they owe/defaulted on. In Z+ I have lots more in default. In the end I found pre-SG default rates were versus Z+ very low and indeed default collections from the pre-SG are far higher as a percentage of the default amount than Z+ is seeing (at least to date). I wish Zopa could get default rates in Z+ down to the pre-SG levels. But realistically that is not going to happen. I have been lending in Z+ at approx 10-20% of Core/Safeguard (Others etc), in ISA I have been keeping + at 20% or there about. I'm not sure that the defaults are that much worse, although I did notice that the defaults were quite high in SG but they were masked by the SG part until Zopa introduced the "Defaulted Date" column to CSV data. One thing I noticed, since moving almost 50% of my SG Classic across to ISA, is that the reduced SG cover in Invest seems to make monthly defaults seem a worse. In one of the other threads I notice that a number people are selling off loans as a result of the default levels showing badly at the monthly level perhaps. Once they sell them off they seem to report higher rates on those that are left behind. I'm not sure Zopa reports correctly on the rates front when the levels are reduced this way. I noticed in my Invest, having transferred almost 50% of SG cover over to ISA, that the rates reported seem to bare less resemblance to the actual rates returned. Having said that I feel that withdrawing large amounts skews the relend effect which Zopa does indicate is a factor in the true rates but does not emphasise this is enough I feel. My experience so far - and it is skewed by my recent investments/movements etc in both mine and Mrsaju's cases - that defaults are, as the "Guvnor" says in the defaults video, not really to be considered on a short term basis as long as relend is active. At the moment relend is fully on in my Invest side. In my ISA side, however, I am controlling lending a bit more as I want to limit lending to £10 so I am having a bit more hands on so to speak. Every few days as relend is off and my Plus is at 20% of the overall lend I am manually checking the return on Plus using my Statements file to catch the returned capital and int and then lending out to Plus accordingly. Its a bit cumbersome but it works. Hopefully once all lending is completed and I can safely turn Relend to same product the defaults should - and i use that term loosely - return to normal levels. I did get a shock yesterday though when I looked at statements for June (3 days worth at the time) and my return was in negative!. I'd not seen that before so I stopped dead for a second then realised that its the full monthly thats important and not the dailies. Having said all that I tend to view that one cannot gauge this for at least 24 months of stable relending where I do believe it will have settled. (Everything I have is firmly crossed though ;-))
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