Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Feb 14, 2019 4:05:21 GMT
That is not good. . That affects us all. I had a hundred to be reinvested from PF buyout and it went ok. Impossible to be sure, but perhaps it's prioritized on the total size of an investors funds. I'm pretty sure that yours is much bigger than mine 😆 Would probably make good business sense to keep bigger hitters happier. Might not be true, but since they refuse to explain we're bound to look for patterns to try and understand! Personally not a lot as I used my FISA allowance and don’t want to transfer to Welendus yet. So keeping interest down till April then will add to FISA. Will check with friend who added 2k a couple of days ago. Need to to get them to find good supply of quality borrowers somewhere.
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Ukmikk
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Post by Ukmikk on Feb 14, 2019 9:18:35 GMT
That proves that new cash is taking priority over reinvestments. I had significant uninvested repayments for 3 weeks. That is not good. . That affects us all. I had a hundred to be reinvested from PF buyout and it went ok. Yeah it really sucks. I have one investment (9-15% range) that is now over 50% uninvested and no movement for 23 days. Yet another, newer, investment (13-15%) has recently had new loans at 14.5%. How do you explain that? IMHO the model is badly flawed and my confidence in the platform is being severely tested. The lack of engagement and explanation here does little to help with that sentiment.
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benaj
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Post by benaj on Feb 14, 2019 10:29:47 GMT
That is not good. . That affects us all. I had a hundred to be reinvested from PF buyout and it went ok. Yeah it really sucks. I have one investment (9-15% range) that is now over 50% uninvested and no movement for 23 days. Yet another, newer, investment (13-15%) has recently had new loans at 14.5%. How do you explain that? IMHO the model is badly flawed and my confidence in the platform is being severely tested. The lack of engagement and explanation here does little to help with that sentiment. I have increased my rates again. Right now, I have 3 investments stuck. The other investments can pick up loan with high rates 13%+. Now I come to the conclusion at least 2 investments (out of 8) won't be able to pick up more new loans.
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Post by sayyestocress on Feb 14, 2019 16:00:17 GMT
Yeah it really sucks. I have one investment (9-15% range) that is now over 50% uninvested and no movement for 23 days. Yet another, newer, investment (13-15%) has recently had new loans at 14.5%. How do you explain that? IMHO the model is badly flawed and my confidence in the platform is being severely tested. The lack of engagement and explanation here does little to help with that sentiment. I have increased my rates again. Right now, I have 3 investments stuck. The other investments can pick up loan with high rates 13%+. Now I come to the conclusion at least 2 investments (out of 8) won't be able to pick up more new loans. All my queued funds got lent out today, maybe check yours again? May be to do with algorithm changes mentioned in the investment queue thread.
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benaj
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Post by benaj on Feb 14, 2019 16:22:48 GMT
I have increased my rates again. Right now, I have 3 investments stuck. The other investments can pick up loan with high rates 13%+. Now I come to the conclusion at least 2 investments (out of 8) won't be able to pick up more new loans. All my queued funds got lent out today, maybe check yours again? May be to do with algorithm changes mentioned in the investment queue thread. 3 investments remain stuck. It's not a big concern at the moment as long as other investments are working hard for the return.
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Ukmikk
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Post by Ukmikk on Feb 14, 2019 19:09:54 GMT
I have increased my rates again. Right now, I have 3 investments stuck. The other investments can pick up loan with high rates 13%+. Now I come to the conclusion at least 2 investments (out of 8) won't be able to pick up more new loans. All my queued funds got lent out today, maybe check yours again? May be to do with algorithm changes mentioned in the investment queue thread. Thanks, and congrats! I just checked but nope, nothing. I will try and find time to email the details to WLU and see if I can get an explanation, but I suspect not. If that fails I will probably try selling up the bad investments and starting again. As we know,new cash gets invested very quickly.
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Ukmikk
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Post by Ukmikk on Feb 14, 2019 19:11:36 GMT
All my queued funds got lent out today, maybe check yours again? May be to do with algorithm changes mentioned in the investment queue thread. 3 investments remain stuck.  It's not a big concern at the moment as long as other investments are working hard for the return. It is a concern for me. I would like all my Investments to be working hard not just half of them.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Feb 14, 2019 19:32:35 GMT
3 investments remain stuck. It's not a big concern at the moment as long as other investments are working hard for the return. It is a concern for me. I would like all my Investments to be working hard not just half of them. Don’t worry if you eventually get a higher rate than your minimum the overall returns are higher by the end of all loans in the block. If you got 9% if it was invested If it had not been invested for a month and you got 14% for 2 months the return by the end say 100 day loan would be higher.
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nyneil
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Post by nyneil on Feb 14, 2019 20:07:48 GMT
Anyone know if the provision fund on welendus is stronger than the one on growth street ? Growth street has loans of around 70 million but a pf of 800,000. This concerns me. Was woñdering if it would be safer to move those funds to welendus ? GS & WE have very different models: WE deals in short term, unsecured, high interest retail loans and has a provision fund to buy back any loan as soon as payment is 35 days overdue. GS provides much lower interest, asset backed loans to established businesses, so they do not need the same level of provision fund. Also when you lend via GS, your money is allocated to various loans for administrative convenience, but you are actually exposed to the whole loan book. In the event of defaults exceeding the PF, a resolution event would called, in this case any loss would be shared by all lenders; in this way your risk of being hit by a hefty loss is significantly reduced, IMO. I have investments in WE & GS.
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Post by Ace on Feb 27, 2019 7:47:02 GMT
WLU's provision fund coverage is reported as 2734.4% this morning! Don't know if they've had a large cash injection, or there's an error.
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benaj
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Post by benaj on Feb 27, 2019 8:44:13 GMT
WLU's provision fund coverage is reported as 2734.4% this morning! Don't know if they've had a large cash injection, or there's an error. WLU Provision Investors' Fund Contribution fee is at least 10x of investor interest, could be up to 30x.
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Post by sayyestocress on Feb 27, 2019 11:07:01 GMT
Says ~105 % now.
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benaj
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Post by benaj on Mar 28, 2019 8:59:16 GMT
It's pay day for our borrowers. 2019 PF back to 104% this morning.
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Post by Ace on Apr 4, 2019 13:26:55 GMT
I've long suspected that there is something suspect about Welendus's provision fund statistics. This wasn't helped by the increase in the Actual Average Default Rate for the 2018 cohort last night!
Given that the definition of default here is "a loan repayment being late by 90 days or more", and the fact that we are now more than 90 days into 2019, how can the default rate for the 2018 cohort still be increasing?
Also, given that we are more than 90 days into 2019 and the large number of PF repurchases that I've been getting, it seems unlikely that the Actual Average Default Rate for the 2019 cohort is really still zero. I accept that the two measures aren't directly related, as they are measured over different periods (default is 90 days, PF repurchase is 35 days).
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Ukmikk
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Post by Ukmikk on Apr 4, 2019 17:33:39 GMT
2018 default rate will relate to loans taken out in 2018, some of which may still be going into default. ie it's start date not default date which counts.
For 2019 cohort to be above zero, one of them would have to be 90 days late on a payment due in the first 4 days of the loan, which seems unlikely.
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