sl75
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Post by sl75 on Dec 2, 2014 9:38:19 GMT
Oh, wonderful... another accounting error to report. Or maybe not exactly an error but only just a mis-reporting -- as if that's really less serious. If I look at the page for the Carm*********** WT, the system tells me... I have always assumed that the reason those two numbers matched was because all my investing had been done via the MLIA. And that if I ever set up another sub-account the total displayed would reflect that and the two numbers would diverge. Well, I regret to have to report that the system isn't working like that.  Some of my experimental £20 GEIA investment was placed in that loan and, while I can't tell exactly how much of my GEIA is invested in that loan without trawling through my GEIA statement and summing all the purchases and sales, I do know that the investment is greater than zero. (I think it's £2-3.) So why doesn't this investment via my GEIA show up as part of my total holding of this loan as displayed on the loan's page? chris: Is this the way the system is supposed to work? Or is this an error? If it is working as you expect it to, can you please explain what the statement produced by the system -- as quoted above in italics -- is supposed to mean? It clearly doesn't mean what it seems to be saying to me. In p2pindependentforum.com/post/29498/thread chris already answered this: They're excluded from the individual loan pages by design not by mistake. As covered on this thread there has been an extensive internal discussion about how much information we both should and have to show about investments and the current site reflects the choices made by the business. As I understand it, the total includes only the amounts that are invested via accounts that do NOT benefit from the protection of a provision fund (which will eventually include some bespoke accounts). The sentence needs rephrasing to make this decision clear - perhaps temporarily removing the duplicated figure until there is a possibility of the two totals differing?
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mikes1531
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Post by mikes1531 on Dec 4, 2014 3:40:07 GMT
Does AutoInvest Hibernate in the wee hours? Is the Aftermarket suspended at that time?
In the wee hours of Wednesday morning I offered some GDBIT3 for sale, but it didn't sell promptly. That came as a surprise to me. Then I offered some Red*****, and it didn't sell immediately either. That also surprised me. Checking my statement later in the day, I saw that both had been sold at 0500. And to multiple purchasers -- GD sold in five bits, and R in 12 bits. The timing strikes me as odd, especially when there obviously were a lot of buyers around. Looking further back in my statement I found the same thing had happened the previous morning -- no sales in the wee hours until four bits of GDBIT3 that had been for sale for hours all sold at 0509. And the previous day I had some cash in my account at midnight, and at 0507 AutoInvest made six purchases for me from six different loans. Weird. Today, I repeated the process, putting some GDBIT3 up for sale just after midnight. As I write this three hours later, no sale has occurred yet. To complete the picture, I raised my Hac**** target an hour or two ago. There's plenty of that loan available, so AutoInvest should have bought some for me in a matter of minutes. It didn't. I'm going to guess that this sale and purchase both will happen at about 0500 today. It's as if the buying/selling system stops working between midnight and 0500. Does it chris?
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Post by chris on Dec 4, 2014 5:59:03 GMT
mikes1531 - yes, it hibernates between midnight and 0500 to allow the overnight processes and full backups to run without interruption and without them affecting who is buys what.
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sl75
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Post by sl75 on Dec 4, 2014 11:28:32 GMT
mikes1531 - yes, it hibernates between midnight and 0500 to allow the overnight processes and full backups to run without interruption and without them affecting who is buys what. Useful to know - that way if I'm fully invested and want to release funds by reducing several targets [or otherwise make several changes of targets intended to take effect "simulataneously"], I can do so during those hours without risk of buying up to the old target level on one of the targets I've not reduced yet... even before any "change several targets at once" functionality gets added.
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Post by chris on Dec 4, 2014 11:30:16 GMT
mikes1531 - yes, it hibernates between midnight and 0500 to allow the overnight processes and full backups to run without interruption and without them affecting who is buys what. Useful to know - that way if I'm fully invested and want to release funds by reducing several targets, I can do so during those hours without risk of buying up to the old target level on one of the targets I've not reduced yet... even before any "change several targets at once" functionality gets added. I'd be wary of relying upon that. We're running things conservatively at the moment in that regards so there's no guarantee it won't change in the future and that's the kind of background change where it's easy to forget to give lenders advanced notice.
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unmadem
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Post by unmadem on Dec 4, 2014 16:47:15 GMT
chris, Colin Worcestershire Property Investment Loan114 drewdown today - at last. Alas it is showing as zero % interest per annum. I vaguely remember other issues with newly live loans but think that might have been with the repayment dates. Anybody else remember ?
Edit - I see there are 3 other loans showing at zero % but personally don't know if they have been like that for a while or whether there is a new issue, loans 41,35 and 132 (pretty sure 132 Anglesey was ok yesterday).
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mikeb
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Post by mikeb on Dec 4, 2014 19:23:00 GMT
Loans 41,35 have been 0% for a while, they are not accruing at all. (E-T 17/10 and Go-T 17/9)
Anglesey at 0% with no historical interest is new for today (reported and also mentioned on Q&A)
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Post by chris on Dec 4, 2014 22:55:57 GMT
Loans 41,35 have been 0% for a while, they are not accruing at all. (E-T 17/10 and Go-T 17/9) Anglesey at 0% with no historical interest is new for today (reported and also mentioned on Q&A) Angelsey has been fixed. The older loans need a small change to the loan model that I'm aiming to get done tomorrow.
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Post by batchoy on Dec 9, 2014 9:45:59 GMT
There appears to have been a change of functionality in the MLIA, maybe as a result of a fix to the Withdrawal Bug in the GEIA, as where previously the funds resulting from the sale of loan parts would have been withdrawn to my CA (my MLIA is set to withdraw) today following the sale of some London Retail the proceeds are sitting in my MLIA. Luckily the Manual Invest function is disabled for all my loans except the ones I want to sell and they have the target set lower than my holding so these uninvested funds are not being reinvested.
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Post by chris on Dec 9, 2014 9:55:54 GMT
There appears to have been a change of functionality in the MLIA, maybe as a result of a fix to the Withdrawal Bug in the GEIA, as where previously the funds resulting from the sale of loan parts would have been withdrawn to my CA (my MLIA is set to withdraw) today following the sale of some London Retail the proceeds are sitting in my MLIA. Luckily the Manual Invest function is disabled for all my loans except the ones I want to sell and they have the target set lower than my holding so these uninvested funds are not being reinvested. Funds will now only be withdrawn from loan sales if you have a withdrawal target set. Otherwise funds remain in the account to which they've been allocated regardless of your reinvestment settings. The reinvestment settings now only apply to repayments.
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star dust
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Post by star dust on Dec 9, 2014 14:27:59 GMT
There appears to have been a change of functionality in the MLIA, maybe as a result of a fix to the Withdrawal Bug in the GEIA, as where previously the funds resulting from the sale of loan parts would have been withdrawn to my CA (my MLIA is set to withdraw) today following the sale of some London Retail the proceeds are sitting in my MLIA. Luckily the Manual Invest function is disabled for all my loans except the ones I want to sell and they have the target set lower than my holding so these uninvested funds are not being reinvested. Funds will now only be withdrawn from loan sales if you have a withdrawal target set. Otherwise funds remain in the account to which they've been allocated regardless of your reinvestment settings. The reinvestment settings now only apply to repayments. The same thing has just happened to me, and I wondered what was going on. If you are going to change the function shouldn't you simultaneously amend the options and wording/ text on the "Manual Loan Investments Account/Adjust Repayment Action" tab? Luckily MLIA didn't purchase anything before I noticed the posts on this thread and manually forced the funds into my Cash Account whilst I decide on re-investments.
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Post by chris on Dec 9, 2014 14:32:29 GMT
Funds will now only be withdrawn from loan sales if you have a withdrawal target set. Otherwise funds remain in the account to which they've been allocated regardless of your reinvestment settings. The reinvestment settings now only apply to repayments. The same thing has just happened to me, and I wondered what was going on. If you are going to change the function shouldn't you simultaneously amend the options and wording/ text on the "Manual Loan Investments Account/Adjust Repayment Action" tab? Luckily MLIA didn't purchase anything before I noticed the posts on this thread and manually forced the funds into my Cash Account whilst I decide on re-investments. Surely the text already matches the corrected functionality. The option itself is called "On repayment", two of the three options directly mention "repayments", and the text above the selection says "When repayments occur". As pointed out by other lenders on here a loan sale is not a repayment and shouldn't have been treated as such. If you want to withdraw all funds that are freed up on your account then you need to set a withdraw target. If you don't want MLIA to invest in loans then you'll need to either disable it for those loans or set your target to be the level of investment you actually want.
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star dust
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Post by star dust on Dec 9, 2014 16:50:51 GMT
The same thing has just happened to me, and I wondered what was going on. If you are going to change the function shouldn't you simultaneously amend the options and wording/ text on the "Manual Loan Investments Account/Adjust Repayment Action" tab? Luckily MLIA didn't purchase anything before I noticed the posts on this thread and manually forced the funds into my Cash Account whilst I decide on re-investments. Surely the text already matches the corrected functionality. The option itself is called "On repayment", two of the three options directly mention "repayments", and the text above the selection says "When repayments occur". As pointed out by other lenders on here a loan sale is not a repayment and shouldn't have been treated as such. If you want to withdraw all funds that are freed up on your account then you need to set a withdraw target. If you don't want MLIA to invest in loans then you'll need to either disable it for those loans or set your target to be the level of investment you actually want. Apologies chris, my bad for not noticing it was doing something it shouldn't have in the first place, and thus misinterpreting the text based on the way I experienced it behaving before. I’m afraid I’m struggling to keep up with the minutiae of all the changes, bugs and fixes; but is there a one button ‘turn off or pause all investments’ on it’s way? Or have I lost the plot on this one as well?
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Post by chris on Dec 9, 2014 16:53:33 GMT
Surely the text already matches the corrected functionality. The option itself is called "On repayment", two of the three options directly mention "repayments", and the text above the selection says "When repayments occur". As pointed out by other lenders on here a loan sale is not a repayment and shouldn't have been treated as such. If you want to withdraw all funds that are freed up on your account then you need to set a withdraw target. If you don't want MLIA to invest in loans then you'll need to either disable it for those loans or set your target to be the level of investment you actually want. Apologies chris, my bad for not noticing it was doing something it shouldn't have in the first place, and thus misinterpreting the text based on the way I experienced it behaving before. I’m afraid I’m struggling to keep up with the minutiae of all the changes, bugs and fixes; but is there a one button ‘turn off or pause all investments’ on it’s way? Or have I lost the plot on this one as well? That global switch is still under review as we are looking to revamp the entire target system. I'll be sure to post once a final decision has been made.
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niceguy37
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Post by niceguy37 on Dec 9, 2014 17:28:42 GMT
That global switch is still under review as we are looking to revamp the entire target system. I'll be sure to post once a final decision has been made. If you are reviewing the target system I have a suggestion for automating it. At present I'm in the habit of buying up what's currently available to get invested and earning then spend quite a bit of time selling some of it off in bits and pieces, trying to keep a modest balance on hand of between £30 and £200, so that I can buy some of my preferred loans if/when they happen to come up for sale. This is quite time-consuming, so I suggest an auto-bidding system to make it more efficient: Proposed Auto-Bidding System Aim: We want a system that quickly invests our money into acceptable loans to start earning interest as soon as possible. Then we want to diversify our holdings to reduce the impact of a possible default, and we want to fine tune our portfolio by switching our holdings so that we are holding more of the loans we prefer. How it would work: 1. Lenders set a target for each loan they want to buy. This is the amount they would ideally like to hold. (I imagine most lenders have done this part already.) 2. An “Investment Limit” is set for each loan. The system may buy up to this Investment Limit in order to get fully invested and earning interest as soon as possible. The Investment Limit could be set for all of a lender’s loans for ease, for example as 1.5, 2 or 3 times the target, or as a percentage of the lender’s total investment e.g. 5 or 10%. Perhaps individual loan Investment Levels could be amended manually if desired, but this is not essential. 3. The lender turns on the Auto-Bidding System (and can suspend it as desired). 4. The system tries to buy up to the target amounts for each loan available at the time, buying higher ranked loans first (i.e. those with a higher target set), and then if there are idle funds left over, it will invest up to the Investment Limit so that the maximum amount of funds are earning interest. 5. The system then tries to tune your loan portfolio by automatically buying higher ranked loan parts when they become available, if there is cash available in the MLIA or there is demand for a lower ranking loan to sell. A further refinement might be for the system to retain a ready cash reserve to snap up sought after loans, in case they become available just when no-one wants to by our lower ranked loans. These in-demand loans generally sell in small amounts (since they are shared out between a largish pool of buyers), so a modest ready cash reserve of £50 to £200 would probably suffice to be able to purchase most of the desired loan parts. The lender could specify the desire to keep a cash reserve, e.g. £100, available for loan X or above in their list of ranked loans. The system would then try to sell off loans less desirable loans that had been purchased up to the Investment Limit (in order to get invested and earning quickly) until they were down to their target, to free up cash for the ready cash reserve. Additional rules might be added later to take advantage of any discounts on offer. For example: buy loans x and above up to the Investment Limit where a discount of y% is on offer. Multiple rules could be allowed. The basic mechanism is not too complicated: The system tries to buy what you want, but to avoid having a lot of money lying around not earning interest it will buy up a bit more of what is on offer, and then it will try to swap this later on to tune your portfolio to exactly match your ideal target. In any case it could be offered as an Advanced User option, and I think it would certainly be a major enhancement, making the platform more efficient, giving a higher return to lenders and reducing the time to operate an AC lender account. Discuss.
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