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Post by chris on Oct 3, 2014 16:00:02 GMT
chris - the above has been corrected, but the loan ID's on the statement look incorrect. CentLdnBL is quoted as 163 on my statement, but is 115 elsewhere. How the heck do I make sure Chris gets this ? cant remember..... Hello - yeah that one is my fault. Been tripped up by the fact that all our loans have 2 ids - one for the loan and one for the auction, allowing multiple auctions per loan should one fail. The new system has been quoting the loan id on the statement whereas everything else quotes the auction id. May not get done tonight but I'll correct it tomorrow if not.
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Post by Come_on_Grandad on Oct 3, 2014 16:53:39 GMT
chrisShould be interest repayment. Edit And a couple more different ones in the last five minutes. Corrected Actually chris you corrected the text to "Interest payment" which is OK, but gave me a couple of head scratching minutes when my spreadsheet couldn't balance my statement. Additionally, these interest payment entries have a status of forward rather than settled in the extract file. Why?
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Post by Jack Barlow on Oct 3, 2014 17:48:27 GMT
chris, you've also dropped the "for xx loan parts(s)" text off the end of the interest payment transaction entry - is this a permanent change due to the new method of lumping parts together for the interest calculation?
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Post by chris on Oct 3, 2014 17:50:57 GMT
chris, you've also dropped the "for xx loan parts(s)" text off the end of the interest payment transaction entry - is this a permanent change due to the new method of lumping parts together for the interest calculation? Yes it's a permanent change, and wouldn't have made sense with the new platform anyway as most people will hold one loan unit at a time.
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Post by Jack Barlow on Oct 4, 2014 23:21:27 GMT
chris - the above has been corrected, but the loan ID's on the statement look incorrect. CentLdnBL is quoted as 163 on my statement, but is 115 elsewhere. How the heck do I make sure Chris gets this ? cant remember..... Hello - yeah that one is my fault. Been tripped up by the fact that all our loans have 2 ids - one for the loan and one for the auction, allowing multiple auctions per loan should one fail. The new system has been quoting the loan id on the statement whereas everything else quotes the auction id. May not get done tonight but I'll correct it tomorrow if not. , please would you post here when this has been fixed. Thanks.
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Post by Jack Barlow on Oct 8, 2014 16:34:44 GMT
chrisIt now looks like interest payments are being correctly posted with the auction id instead of the loan id, but the previous interest transactions posted after the changes you made on 2nd October haven't been retrospectively corrected. Are you planning to correct these too? Thanks Jack
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Post by chris on Oct 8, 2014 17:02:50 GMT
chrisIt now looks like interest payments are being correctly posted with the auction id instead of the loan id, but the previous interest transactions posted after the changes you made on 2nd October haven't been retrospectively corrected. Are you planning to correct these too? Thanks Jack Will do - been busy fighting a bigger fire with the loan model change in between trying to enjoy my rainy holiday  Will do so soon as I can.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,428 
Likes: 1,212
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Post by sqh on Oct 8, 2014 17:05:57 GMT
Chris.
A number of loan parts are showing their values rounded up by one penny, making them £100.01 per unit.
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Post by Jack Barlow on Oct 8, 2014 17:06:44 GMT
chris, that's okay, was just checking whether the retrospective bit was part of the plan. Pleased it is and happy to wait.
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Post by Jack Barlow on Oct 8, 2014 17:08:25 GMT
Chris. A number of loan parts are showing their values rounded up by one penny, making them £100.01 per unit. chris just PM'd me to say that he's planning to post an explanation of this presently.
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Post by chris on Oct 8, 2014 17:13:23 GMT
Chris. A number of loan parts are showing their values rounded up by one penny, making them £100.01 per unit. Okay thanks, I know why. I hate rounding. There's another thread explaining the change I've made. This is a factor of the new way of calculating the principal remaining as a fraction of the loan. This is done to 40 decimal places, but now I've told the system to blindly round up, if it's over estimated your principal by 10^-40 it's now reporting it as a penny more than it should. I'm going to change it to round up but to several decimal places so the tiniest of fractions are ignored. I hate rounding.
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Post by bracknellboy on Oct 8, 2014 18:58:25 GMT
Chris. A number of loan parts are showing their values rounded up by one penny, making them £100.01 per unit. Okay thanks, I know why. I hate rounding. There's another thread explaining the change I've made. This is a factor of the new way of calculating the principal remaining as a fraction of the loan. This is done to 40 decimal places, but now I've told the system to blindly round up, if it's over estimated your principal by 10^-40 it's now reporting it as a penny more than it should. I'm going to change it to round up but to several decimal places so the tiniest of fractions are ignored. I hate rounding. Just goes to show that greater precision doesn't always lead to greater accuracy.
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Post by batchoy on Oct 8, 2014 19:06:18 GMT
You're not the only one, it is one of the banes of my life
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Post by chris on Oct 8, 2014 19:13:24 GMT
Okay thanks, I know why. I hate rounding. There's another thread explaining the change I've made. This is a factor of the new way of calculating the principal remaining as a fraction of the loan. This is done to 40 decimal places, but now I've told the system to blindly round up, if it's over estimated your principal by 10^-40 it's now reporting it as a penny more than it should. I'm going to change it to round up but to several decimal places so the tiniest of fractions are ignored. I hate rounding. Just goes to show that greater precision doesn't always lead to greater accuracy. Surely it's better to have a dilemma over the rounding scheme to use than to have lenders lose a penny per loan unit on every transaction?
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Post by chris on Oct 8, 2014 19:15:05 GMT
chris, you've also dropped the "for xx loan parts(s)" text off the end of the interest payment transaction entry - is this a permanent change due to the new method of lumping parts together for the interest calculation? That'll be a permanent change, as the new calculation works on percentage of loan held over a period of time (thus covering accrued interest) rather than loan units held at the point of payment.
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Will do so soon as I can.
