misscas
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Post by misscas on Dec 5, 2014 17:44:00 GMT
My historic accrued interest for Bolton has also reappeared and in the correct amount. Thanks Chris.
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bugs4me
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Post by bugs4me on Dec 5, 2014 17:45:36 GMT
Okay I've just set a change to the loan model live. I've tested it offline as best I can against Bolton and have just released it to the admin team but I wanted to get it live to lenders as well to encourage your own feedback on this. Please be gentle as this hasn't been tested by the admin team. I've also only applied this fix to Bolton but it will also need to be applied to other loans like Fin*** Fur****** when we're happy with it. Your historic accrued interest should have been restored and interest should now be accruing at the correct rate for those still in the loan. My accrued Interest for Bolton has reappeared, thank you; hope it's correct now.  Gawd - so has mine OG. I'd forgotten about that 19p
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duck
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Post by duck on Dec 5, 2014 18:08:32 GMT
Thanks Chris and team, both my accounts now showing accrued interest.
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star dust
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Post by star dust on Dec 5, 2014 18:28:27 GMT
Your historic accrued interest should have been restored and interest should now be accruing at the correct rate for those still in the loan. Yes thanks, finally re-appeared and at correct amount I think .
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Vero
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Post by Vero on Dec 5, 2014 18:30:47 GMT
My accrued Interest for Bolton has reappeared, thank you; hope it's correct now. Mine has re-appeared too, thank you.
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mikeb
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Post by mikeb on Dec 5, 2014 18:36:58 GMT
but I wanted to get it live to lenders as well to encourage your own feedback on this. -- Bolton is definitely looking correct here, as is Anglesey and Falmouth (holdings and accrueds on all 3). Keep at it!
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oldgrumpy
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Post by oldgrumpy on Dec 5, 2014 18:53:10 GMT
I'm beginning to feel as relieved as Chris must be (and others at ASTZ Towers).  |
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TFTO
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Post by TFTO on Dec 5, 2014 19:10:10 GMT
chris can you take a look at the accruals on FF (Loan 70) which has been wrong for a while?
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Post by chris on Dec 5, 2014 19:11:09 GMT
chris can you take a look at the accruals on FF (Loan 70) which has been wrong for a while? As stated this fix will also fix FF but I want to get it double checked before rolling it out on other loans. Should be Monday.
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Post by chris on Dec 7, 2014 14:38:40 GMT
After some weekend testing by the admin team the accrued interest correction to Fin*** Furn***** has been applied. We'll be rolling this out across the other affected loans over the next couple of days. The fix worked unchanged from Friday but the admin team want to manually double check everything on each loan, hence the paced rollout.
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mikes1531
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Post by mikes1531 on Dec 7, 2014 15:26:17 GMT
Thanks, chris. Take the rest of the weekend off! |
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mikeb
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Post by mikeb on Dec 9, 2014 18:39:36 GMT
Thanks chris : Fixes have also spread across onto Go* Tranche2, and E-Tr****y (Loans 35 and 41) -- in that accrued interest since (date-when-it-stopped-accruing) is now showing correctly, and the displayed rates are no longer 0% -- totals of AI now back to where they should be. |
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Post by chris on Dec 9, 2014 19:06:30 GMT
Thanks chris : Fixes have also spread across onto Go* Tranche2, and E-Tr****y (Loans 35 and 41) -- in that accrued interest since (date-when-it-stopped-accruing) is now showing correctly, and the displayed rates are no longer 0% -- totals of AI now back to where they should be. This was actually the admin team, no tech changes needed. I'll pass on the gratitude 
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Post by cyrilmadrid on Dec 16, 2014 18:33:11 GMT
One question for you all (have had time to dig into this) : who retains the credit risk for the accrued interest on units sold on the aftermarket ?
I mean, when I sell a unit, do I retain the credit risk on the borrower for the accrued interest accumulated till today ? -since I understand interest will only be paid to me when the borrower reimburses-
Or is the buyer of my units liable for both the capital and the accrued interest ? -I think not, but that would make sense !-
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Post by chris on Dec 17, 2014 7:06:25 GMT
One question for you all (have had time to dig into this) : who retains the credit risk for the accrued interest on units sold on the aftermarket ? I mean, when I sell a unit, do I retain the credit risk on the borrower for the accrued interest accumulated till today ? -since I understand interest will only be paid to me when the borrower reimburses- Or is the buyer of my units liable for both the capital and the accrued interest ? -I think not, but that would make sense !- The buyer takes on the credit risk for the capital invested but the seller retains the risk on any accrued interest. We feel this is much fairer than the traditional system whereby the buyer also takes on the credit risk for interest already accrued.
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