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Post by chris on Oct 23, 2014 5:19:53 GMT
Please bear with me today with the accrued interest figure. It will be knowingly wrong for most of the day but by the end of the day the worst position we'll be in is that the accrued interest on held loan parts will be restored and in the background the accrued interest on sold loan units will be calculated and cached ready to be plumbed in to the rest of the system. If I complete this early enough in the day then the front end team will also have completed that plumbing, otherwise that will be their focus tomorrow morning.
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thebillet
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Post by thebillet on Oct 23, 2014 5:39:02 GMT
Fingers crossed the plumbing goes well, if not there will be a right old mess.
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JamesFrance
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Port Grimaud 1974
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Post by JamesFrance on Oct 23, 2014 8:08:21 GMT
Thanks for posting this Chris, I was wondering what had happened to it today until I saw this topic.
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mikeb
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Post by mikeb on Oct 23, 2014 8:18:47 GMT
My first thought was: This is so wildly wrong it must mean someone's fixing things  Thanks for the heads up. |
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oldgrumpy
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Post by oldgrumpy on Oct 23, 2014 8:56:41 GMT
chris Shouldn't there be a temporary note on all people's dashboards that this is in hand. Hundreds of investors probably don't interact on or read this forum and must be wondering since Tuesday "what the hell....? etc!"
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niceguy37
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Post by niceguy37 on Oct 23, 2014 9:11:27 GMT
chris Shouldn't there be a temporary note on all people's dashboards that this is in hand. Hundreds of investors probably don't interact on or read this forum and must be wondering since Tuesday "what the hell....? etc!" I think it would be a useful feature to have a login message box where AC could post this sort of notification, if they don't have it already, but it's certainly not an urgent requirement.
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mikes1531
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Post by mikes1531 on Oct 23, 2014 11:36:01 GMT
chris Shouldn't there be a temporary note on all people's dashboards that this is in hand. Hundreds of investors probably don't interact on or read this forum and must be wondering since Tuesday "what the hell....? etc!" I think it would be a useful feature to have a login message box where AC could post this sort of notification, if they don't have already, but it's certainly not an urgent requirement. Depending on how this is implemented, it might be possible for people to miss it if they have bookmarks that take them directly to the part of the website they're interested in, such as their Loan Book or Dashboard. And then there are those who use Reload Every to keep them logged in for long periods, so rarely visit the login screen. Getting back to oldgrumpy's original point, there definitely should be some sort of message telling people that their accrued interest number is wrong, and that AC are aware of the problem and are working on solving it. Without that, AC are going to be inundated by people contacting them to ask what the !@*! is going on, not to mention the drop in investors' confidence in AC this situation is going to cause. I'm afraid this looks like a good example of a self-inflicted injury.
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Post by chris on Oct 23, 2014 16:28:29 GMT
Okay big recalculation going on now. Everything should show zero (shortly, it's running now) and it will then be recalculated loan by loan. The displays will then show the accrued interest for all currently held loan units. The complication in that is that when you buy a loan unit and it's merged with your existing loan unit, in the background that merges both the loan units into a new one which resets the ownership from that point. The same mechanism is used when splitting loan units for sale.
In the background we're now caching the accrued interest for each historical loan unit. This will be added into the display tomorrow so that you'll see the full accrued interest for all held, sold, split, or merged loan units which should give you a complete record of all accrued interest held at a loan, investment account, and global level.
At the moment I'm the only person to have checked the figures so whilst I'm confident in them (as they all add up to the correct global values when calculating how much interest has accrued on the whole loan) I would appreciate community feedback on the figures once the final update is in place, as a triple check on top of the admin team also checking the figures.
I'll post again tomorrow once the final figure has been put on the site. Thank you all again for your patience on this.
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Post by Jack Barlow on Oct 23, 2014 16:53:43 GMT
chris, so should the recalculated unpaid accrued interest numbers that have now appeared be correct for a loan with monthly repayments that was bought say a few months ago with no subsequent purchases or sales in the last month? Or should we just ignore everything until you give the nod tomorrow?
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unmadem
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Post by unmadem on Oct 23, 2014 16:53:58 GMT
Okay big recalculation going on now. Everything should show zero (shortly, it's running now) and it will then be recalculated loan by loan. The displays will then show the accrued interest for all currently held loan units. The complication in that is that when you buy a loan unit and it's merged with your existing loan unit, in the background that merges both the loan units into a new one which resets the ownership from that point. The same mechanism is used when splitting loan units for sale. In the background we're now caching the accrued interest for each historical loan unit. This will be added into the display tomorrow so that you'll see the full accrued interest for all held, sold, split, or merged loan units which should give you a complete record of all accrued interest held at a loan, investment account, and global level. At the moment I'm the only person to have checked the figures so whilst I'm confident in them (as they all add up to the correct global values when calculating how much interest has accrued on the whole loan) I would appreciate community feedback on the figures once the final update is in place, as a triple check on top of the admin team also checking the figures. I'll post again tomorrow once the final figure has been put on the site. Thank you all again for your patience on this. chris do you really think you could have avoided "community feedback"
crossing finger and toes for you.
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Post by chris on Oct 23, 2014 17:04:41 GMT
chris, so should the recalculated unpaid accrued interest numbers that have now appeared be correct for a loan with monthly repayments that was bought say a few months ago with no subsequent purchases or sales in the last month? Or should we just ignore everything until you give the nod tomorrow? When the site went live there was a global merging of loan units which would have retired your old loan units and created one new one for each loan. So if you've had no further sales or purchases since then then you should be able to calculate what's been earned since and tally it with the figure now shown.
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Post by Jack Barlow on Oct 23, 2014 17:12:36 GMT
chris, so we should currently be seeing two days of interest for any loans whose holdings haven't been modified since launch on Tuesday morning? If so, the numbers on my Dashboard are looking correct so far.
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mikeb
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Post by mikeb on Oct 23, 2014 17:42:47 GMT
... and accrued interest should now also include interest accrued on parts sold (historically) that the accrued interest was considered "lost and invisible" on the old site, hence some accrued interests will jump up a little unexpectedly? Is that correct? I mean for loans which are not due to pay interest for a while, or possibly even next year, where the accrued interest dropped out of the total at the point the loan was sold. These will come back into the total? If so, good, one less thing to keep track of |
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Post by chris on Oct 23, 2014 17:44:20 GMT
... and accrued interest should now also include interest accrued on parts sold (historically) that the accrued interest was considered "lost and invisible" on the old site, hence some accrued interests will jump up a little unexpectedly? Is that correct? I mean for loans which are not due to pay interest for a while, or possibly even next year, where the accrued interest dropped out of the total at the point the loan was sold. These will come back into the total? If so, good, one less thing to keep track of Yes. When the work is finished tomorrow it should show everything that the system believes you are owed.
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mikes1531
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Post by mikes1531 on Oct 23, 2014 18:41:47 GMT
chris, so we should currently be seeing two days of interest for any loans whose holdings haven't been modified since launch on Tuesday morning? If so, the numbers on my Dashboard are looking correct so far. Mine certainly doesn't -- the accrued interest for all of my holdings still are showing... Nil.
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