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Post by Jack Barlow on Oct 23, 2014 18:50:18 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. That's odd, as chris said the calculation was being done loan-by-loan as opposed to lender-by-lender. All my 20+ loans are showing 2 days of interest.
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oldgrumpy
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Post by oldgrumpy on Oct 23, 2014 18:57:54 GMT
I have 57 loans (five figure total), and my accrued interest remains at £0.00 so I'll have to re-check later.
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Post by yorkshireman on Oct 23, 2014 19:04:01 GMT
This is a genuine question with no disrespect intended / criticism implied of AC or it’s personnel but how many investors can honestly say that they are confident that all aspects of their accounts will be correct in say, a month’s time?
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Post by pepperpot on Oct 23, 2014 19:09:13 GMT
At the moment I'm just hoping it's right tomorrow!  If it's right tomorrow I'll think about answering that Q. Still zero'd for me too. |
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mikes1531
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Post by mikes1531 on Oct 23, 2014 19:21:49 GMT
This is a genuine question with no disrespect intended / criticism implied of AC or it’s personnel but how many investors can honestly say that they are confident that all aspects of their accounts will be correct in say, a month’s time? Not I, I regret to have to say.
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Post by Jack Barlow on Oct 23, 2014 19:27:38 GMT
Wondering if I misinterpreting what AC have done. To take a specific example: I have £10k of Spondon @ 15% yield. Accrued is £125/month. Pays on 3rd of each month. So as of today expecting £80.64 of accrued interest. Instead seeing £8.06 which is two days of accrued. Seems same for most other loans. I have two days of accrued but where has accrued for days prior to launch of AC 2.0 gone? Surely this can't have been "lost"? Chris has said (by implication) that the account should show 2 days of interest for each loan now (i.e. the interest accrued since the new site went live, assuming there were no loan parts bought/sold Tuesday pm or yesterday) then the historic accrued will be calculated and added on, hopefully tomorrow.
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Post by mrclondon on Oct 23, 2014 19:30:45 GMT
Wondering if I misinterpreting what AC have done. To take a specific example: I have £10k of Spondon @ 15% yield. Accrued is £125/month. Pays on 3rd of each month. So as of today expecting £80.64 of accrued interest. Instead seeing £8.06 which is two days of accrued. Seems same for most other loans. I have two days of accrued but where has accrued for days prior to launch of AC 2.0 gone? Surely this can't have been "lost"? chris explained (not sure whether on this thread or another one) AIUI that today's recalculation of accrued intrest will display ONLY that interest accrued since the last transaction on that loan on your account - so a loan with no purchases / sales since Tuesday am when the site launched will have accrued 2 days interest but a loan with a sale / purchase transaction yesterday will only have accrued 1 days interest. A separate calculation is made of the previous days accrued interest since the last repayment up to the day of the last transaction BUT as yet this second part of the accrued calculation isn't being picked up by the website front end - this is due to be corrected tomorrow. EDIT: Cross posted with Jack Barlow who makes the same points
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mikes1531
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Post by mikes1531 on Oct 23, 2014 19:31:25 GMT
Wondering if I misinterpreting what AC have done. To take a specific example: I have £10k of Spondon @ 15% yield. Accrued is £125/month. Pays on 3rd of each month. So as of today expecting £80.64 of accrued interest. Instead seeing £8.06 which is two days of accrued. Seems same for most other loans. I have two days of accrued but where has accrued for days prior to launch of AC 2.0 gone? Surely this can't have been "lost"? We've been told not to expect the numbers to be correct until some time tomorrow, so I wouldn't be too concerned about any info being lost until we've been told the work is done and we're still seeing odd results. But I am most concerned by samford71's Spondon situation. I'm in that loan as well, but my accrued interest still is shown as Nil. If the numbers are being updated on a loan-by-loan basis -- as we've been told -- why do some of us have Nil results when others have non-zero results?
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Post by yorkshireman on Oct 23, 2014 19:38:59 GMT
I’m not being alarmist but I find the whole situation extremely worrying, my main concern is that the longer these problems go unresolved the more they will be compounded, no pun intended, and snowball to unmanageable proportions.
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mikes1531
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Post by mikes1531 on Oct 23, 2014 19:40:30 GMT
Chris has said (by implication) that the account should show 2 days of interest for each loan now (i.e. the interest accrued since the new site went live, assuming there were no loan parts bought/sold Tuesday pm or yesterday) then the historic accrued will be calculated and added on, hopefully tomorrow. chris explained (not sure whether on this thread or another one) AIUI that today's recalculation of accrued intrest will display ONLY that interest accrued since the last transaction on that loan on your account - so a loan with no purchases / sales since Tuesday am when the site launched will have accrued 2 days interest but a loan with a sale / purchase transaction yesterday will only have accrued 1 days interest. That may be what we're supposed to be seeing, but I can assure you that I am not. Every one of my holdings is showing Nil accrued interest.
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Post by Jack Barlow on Oct 23, 2014 19:41:28 GMT
If the numbers are being updated on a loan-by-loan basis -- as we've been told -- why do some of us have Nil results when others have non-zero results? I suspect they are doing the calculations loan-by-loan but then posting lender-by-lender. All of my updated values appeared in the space of around a minute, possibly less. And there are several thousand user accounts.
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mikes1531
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Post by mikes1531 on Oct 23, 2014 19:48:35 GMT
If the numbers are being updated on a loan-by-loan basis -- as we've been told -- why do some of us have Nil results when others have non-zero results? I suspect they are doing the calculations loan-by-loan but then posting lender-by-lender. All of my updated values appeared in the space of around a minute. And there are several thousand accounts. OK, but how long can it take for a computer to do these calculations once the programming is done? It's been over two and a half hours since Jack Barlow reported... 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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Post by Jack Barlow on Oct 23, 2014 19:53:11 GMT
mikes1531, I'm suggesting that all of the loan calculations are already done and the delay is being caused by the time it takes to post the data to individual user accounts. 6000 accounts @ say 3 sec per account gives 5 hrs. My numbers didn't all get updated in the same instant - I happened to press refresh and half the numbers had appeared, I re-pressed refresh maybe ten seconds later and the rest of the numbers had updated.
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mikes1531
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Post by mikes1531 on Oct 23, 2014 20:17:27 GMT
mikes1531, I'm suggesting that all of the loan calculations are already done and the delay is being caused by the time it takes to post the data to individual user accounts. 6000 accounts @ say 3 sec per account gives 5 hrs. My numbers didn't all get updated in the same instant - I happened to press refresh and half the numbers had appeared, I re-pressed refresh maybe ten seconds later and the rest of the numbers had updated. Inasmuch as accrued interest changes every day on all accounts that have any holdings at all, IMHO AC would have a serious problem if it were to take five hours to update the accounts each day just for that. I'll keep watching my account and report back here when/if my accrued interest becomes non-zero.
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Post by Jack Barlow on Oct 23, 2014 20:26:25 GMT
I agree, I was only offering a possible explanation. With the old website the end-of-day recalculated accrued interest was normally available 5-10 mins after midnight.
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If it's right tomorrow I'll think about answering that Q.
