oldgrumpy
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Post by oldgrumpy on Oct 21, 2014 16:35:16 GMT
"I agree. It's a complete pain and it's wrong. I want my holdings in amortising loans to amortise."
I agree with pikestaff .
I don't want such loans, as they are paid off, to be continually topped up with money I might need to invest in new loans. If I want to top up, I can manually reset my investment target.
(I even got a 2p purchase today in London Retail, presumably because the debt to had amortised down by 2p and someone was selling!!) That must stop.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Oct 21, 2014 16:37:56 GMT
"I agree. It's a complete pain and it's wrong. I want my holdings in amortising loans to amortise."
I agree with pikestaff .
I don't want such loans, as they are paid off, to be continually topped up with money I might need to invest in new loans. If I want to top up, I can manually reset my investment target.
(I even got a 2p purchase today in London Retail, presumably because the debt to had amortised down by 2p and someone was selling!!) That must stop.
But it must only stop for those who want it to  . In my case, and I'm sure others, I like the fact that it's maintaining (or attempting to) the amount I hold in the amortising loans that I have. So what we need is the option.
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j
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Post by j on Oct 21, 2014 16:39:11 GMT
Had been busy all day so just now started having a proper look at the new site. Very disappointed with some technical issues. The new site seems to have imported any AI targets from the old one even if they were switched off (eg loan X you had £100 target but all options switched off, so it would not have bought anything even if you had cash & units were on AM - great). The new site seems to have switched all those back on. I seem to have ended up with units in loans I wanted to keep being sold off & others I did not want at all being bought. Terrible, as you would think AC would have thought about that before transferring any data & at least alerting us so we can adjust on the old system to say zero before the new one went live. chris, not sure if this happened just to me or others too but, it's unacceptable & members should have been alerted to this issue as it has cost me money which AC will not compensate & ending up with loans I do not want. I also don't see the point of the reducing/increasing facility on buying process. Why not set a limit as in the old system to avoid any calculation errors. Not a very good first impression!   |
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Post by batchoy on Oct 21, 2014 16:47:10 GMT
"I agree. It's a complete pain and it's wrong. I want my holdings in amortising loans to amortise."
I agree with pikestaff .
I don't want such loans, as they are paid off, to be continually topped up with money I might need to invest in new loans. If I want to top up, I can manually reset my investment target.
(I even got a 2p purchase today in London Retail, presumably because the debt to had amortised down by 2p and someone was selling!!) That must stop.
But it must only stop for those who want it to . In my case, and I'm sure others, I like the fact that it's maintaining (or attempting to) the amount I hold in the amortising loans that I have. So what we need is the option. There several ways to stop it, either a simple flag to stop the MAI running, or to give people the choice of setting either a % target or value target. In the case of the value target I really want to see the return of the maximum % so that I don't have the risk of holding a whole loan at some future point. At the moment it looks like I am going to have to spend my birthday going through all my loans and dropping the MAI target to match the amortised value and then repeating the process on each repayment comes in.
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Post by Come_on_Grandad on Oct 21, 2014 16:47:23 GMT
"I agree. It's a complete pain and it's wrong. I want my holdings in amortising loans to amortise."
I agree with pikestaff .
I don't want such loans, as they are paid off, to be continually topped up with money I might need to invest in new loans. If I want to top up, I can manually reset my investment target.
(I even got a 2p purchase today in London Retail, presumably because the debt to had amortised down by 2p and someone was selling!!) That must stop.
Your 2p shortfall in London Retail between holdings and target will (I think) have arisen due to rounding difference. Yesterday you had a number of small loan units, amortised individually. Today you have one large loan unit. Today's holding figure is a more accurate reflection on your amortised share of the loan. But your target reflected the rounding errors and the system unhelpfully made up the difference for you.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Oct 21, 2014 17:02:31 GMT
But it must only stop for those who want it to . In my case, and I'm sure others, I like the fact that it's maintaining (or attempting to) the amount I hold in the amortising loans that I have. So what we need is the option. There several ways to stop it, either a simple flag to stop the MAI running, or to give people the choice of setting either a % target or value target. In the case of the value target I really want to see the return of the maximum % so that I don't have the risk of holding a whole loan at some future point. At the moment it looks like I am going to have to spend my birthday going through all my loans and dropping the MAI target to match the amortised value and then repeating the process on each repayment comes in. You've sent me off down a thought tangent here (apologies for taking it off topic - somebody feel free to move the post elsewhere if appropriate). I'll preface my query by saying I agree with what you're asking for. But you've just made me curious about my own attitude to the risks. If the amount of a loan you might be holding was at a comfortable risk level for you personally, and all other loan-related variables were equal, what is it about holding 100% of a loan that you wouldn't like versus, say, 10% of the loan? That is to say, why do you think it is preferable to be sharing the risk with other lenders? So, if your holding were £20K for example, why would it be OK if the whole loan was for £200K but not if the whole loan was for just that £20K. I can see that if 'feels' more comfortable, but is it really any different? Edit: I can see samford71 has unwittingly provided me a partial answer to this already whilst I was posting  . But your actual risk doesn't increase by keeping your amount the same, it just doesn't decrease.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Oct 21, 2014 17:10:34 GMT
AI has been busy grabbing shrapnel from people dropping £1 loan parts to test things, but I have no record of what it's done on the statement, which just shows me moving money from "Cash Account" (Holding) to "Manual Invest". What happened next is a mystery. I'm off by a couple of pounds between what I think it did, and it what my totals say. Statement entries needed! I don't think the shrapnel has come from people dropping £1 loan parts - I think it's due to the fact that even sizeable parts are now split 'fairly' between all people requesting them as explained by Chris here: p2pindependentforum.com/post/25358/thread . I think we're all getting the shrapnel now. Edit: and hence my comment earlier about the impossibility of us being able to track interest due manually from here on in. This new 'shrapnel' system is certainly starting to work its way through my loose change a good deal quicker than the old AI system. It's very faffy, but I'll probably end up more invested than I did before, which can't be bad.
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Post by batchoy on Oct 21, 2014 17:16:13 GMT
I agree. It's a complete pain and it's wrong. I want my holdings in amortising loans to amortise. I spotted this earlier but chris did not reply to my question. I see this as a pretty fundamental flaw with the system and I don't really understand why the system was based on cash values (which are time-dependent quantities) rather than unchanging units. As the loan moves toward expiry, if you do not update your target amount each month, you will keep buying an amount equal to the prior month amortization. We need an option to target a notional position (i.e a number of units of a loan) rather than a market value. Otherwise a batchoy implies you will end up taking more and more credit risk (against the principal) as the loan moves to expiry. The whole point of an amortizing loan is that the principal credit risk reduces! Or putting it another way the MAI effectively turns all loans into Bullet Loans rather than Amortising Loans regardless of how the original loan was structured, and I have differing investment strategies of Bullet and Amortising loans.
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oldgrumpy
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Post by oldgrumpy on Oct 21, 2014 17:22:53 GMT
This is lunacy!!
The system has now sold three loan (shrapnel parts) of Staffordshire Property and bought two (shrapnel) parts of Staffordshire property! All I have wanted is that my loan parts in Staffordshire Property stay mine until I decide to sell.
Why is Assetz selling my loan parts when I set no live mandate to do so before the new site launched? Attachments:
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Post by colalba on Oct 21, 2014 17:28:03 GMT
This is lunacy!!
The system has now sold two loan (shrapnel parts) of Staffordshire Property and bought three (shrapnel) parts of Staffordshire property! All I have wanted is that my loan parts in Staffordshire Property stay mine until I decide to sell.
I haven't been anywhere near Staffordshire loan today and the system has just
bought 1.97 sold 15p sold 28p sold 5p sold 19p
yes lunacy. Was any testing done!!
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j
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Penguins are very misunderstood!
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Post by j on Oct 21, 2014 17:41:35 GMT
This is lunacy!!
The system has now sold two loan (shrapnel parts) of Staffordshire Property and bought three (shrapnel) parts of Staffordshire property! All I have wanted is that my loan parts in Staffordshire Property stay mine until I decide to sell.
I haven't been anywhere near Staffordshire loan today and the system has just
bought 1.97 sold 15p sold 28p sold 5p sold 19p
yes lunacy. Was any testing done!!
Thided, as per my previous post!
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mikeb
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Post by mikeb on Oct 21, 2014 17:45:45 GMT
I don't think the shrapnel has come from people dropping £1 loan parts - I think it's due to the fact that even sizeable parts are now split 'fairly' between all people requesting them as explained by Chris here: p2pindependentforum.com/post/25358/thread . I think we're all getting the shrapnel now. Edit: and hence my comment earlier about the impossibility of us being able to track interest due manually from here on in. The statement entries are already here - under the three line menu icon at the right hand end of the investment account section. : Thanks for the pointer about the statements -- the confusing thing is that Reports->Statement shows activity up till this morning, and two entries of "Cash Transfers To Manual", the new hamburger? icon shows transactions from there onward. Is it the intention that the statement facility on "Manual" will show all the detail from here on in, and "Reports->Statement" will be bland movements of cash in and out of AC, and in and out of "pots" such as manual? Any comments on the all the other accounting and display errors? ramblin rose: Well then tracking the existing errors to see if they have been fixed will also become impossible. I guess that's a "convenient" side effect of the new system. There will be no problems as we won't be able to see it going wrong.
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j
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Penguins are very misunderstood!
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Post by j on Oct 21, 2014 17:46:33 GMT
All the buying/selling transactions from today via new site have now disappeared from my statement. Does that mean I'm getting my money/loan parts back & getting rid of the ones I never wanted/mandated to buy? I doubt it as my balance is the same after the initial AC c**k up! I've more or less always backed AC where there have been small errors but this is peoples' money we're dealing with & the new system should have been watertight before going live!
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Oct 21, 2014 17:50:12 GMT
All the buying/selling transactions from today via new site have now disappeared from my statement. Does that mean I'm getting my money/loan parts back & getting rid of the ones I never wanted/mandated to buy? I doubt it as my balance is the same after the initial AC c**k up! I've more or less always backed AC where there have been small errors but this is peoples' money we're dealing with & the new system should have been watertight before going live! Are you looking at the Manual Investment Account statement j (the one you get via the three -line icon at the right hand end of the Manual Investment Account section? If so, maybe they are fixing what shouldn't have happened?
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j
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Penguins are very misunderstood!
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Post by j on Oct 21, 2014 18:00:22 GMT
All the buying/selling transactions from today via new site have now disappeared from my statement. Does that mean I'm getting my money/loan parts back & getting rid of the ones I never wanted/mandated to buy? I doubt it as my balance is the same after the initial AC c**k up! I've more or less always backed AC where there have been small errors but this is peoples' money we're dealing with & the new system should have been watertight before going live! Are you looking at the Manual Investment Account statement j (the one you get via the three -line icon at the right hand end of the Manual Investment Account section? If so, maybe they are fixing what shouldn't have happened? Thanks for the clarification ramblin rose. NO I wasn't! I was looking at the statement via the reports section. It didn't make me feel any better though as I saw the sale transactions for all the units I did not want to be sold but were 
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. In my case, and I'm sure others, I like the fact that it's maintaining (or attempting to) the amount I hold in the amortising loans that I have. So what we need is the option.
. But your actual risk doesn't increase by keeping your amount the same, it just doesn't decrease.
