mikeb
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Post by mikeb on Nov 23, 2014 19:58:17 GMT
chris Here, as a start, are the ones Im aware of  Ippy - accrued interest appears to be 30 days too much, nominal repayment date should be in Mar not Feb, remaining term displaying 3 not 4 months - highlighted in Q&A repeatedly without result FF - accrued interested seems not to include interest outstanding for final month before default CC L - interest appears not to be accruing at default rate but at original rate Woody - interest appears not to be accruing at default rate but at original rate Elecky - interest not accruing at all, and interest rate showing as 0% Agree with your explanation of Ippy, I called it "interest doubled" because that's co-incidentally what it did. Had it been some other day, it might have been another ... ratio ... but about 1 month in it became 2 months in. Agree with your explanation of FF: Although chris didn't point out this as the source discrepancy between my figures and theirs (I sent _my_ working), and I haven't had the promised breakdown to explain AC's figures (show me _your_ working  ... , despite a reminder. It's pretty much the difference I've detected. Not sure how that explains accrued reducing from day to day for a couple of days, unless that was due to work behind the scenes. CCL and Woody: Yes, also mentioned to davidricketts1, so they should be aware. Not just a display issue with the rate (a couple of which have been fixed), it really is going at the wrong rate for these. Elecky: Same here. So add: Bolton(103): Since the partial recovery -- all accrued interest wiped out, with potential explanation as to why, but no clear fix. Unlike some others, I can still see this loan in my list due to some pennies of accrued still pending. G**Tr2(35): Stopped accruing 17/9 -- showing 0% K**e(40): Payment of interest/capital held up to fix issue with people's holdings being wrong due to bought loan parts not being worth the amount the paid for them. Now the interest and capital is paid, the credit for the error is still pending. I think that's the outstanding ones, any more for any more?
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mikes1531
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Post by mikes1531 on Nov 23, 2014 20:42:37 GMT
I think that's the outstanding ones, any more for any more? What about Liv****** BL? I can't remember whether people decided the AI on the loan was correct or not. I can get pretty close to the number showing in my account, but it does seem to be a bit low, though it depends on exactly when the default interest rate started, and I don't have that to hand.
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bugs4me
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Post by bugs4me on Nov 23, 2014 22:52:44 GMT
I think that's the outstanding ones, any more for any more? What about Liv****** BL? I can't remember whether people decided the AI on the loan was correct or not. I can get pretty close to the number showing in my account, but it does seem to be a bit low, though it depends on exactly when the default interest rate started, and I don't have that to hand. Default interest kicked in on the 28th August
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mikes1531
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Post by mikes1531 on Nov 23, 2014 23:36:00 GMT
What about Liv****** BL? I can't remember whether people decided the AI on the loan was correct or not. I can get pretty close to the number showing in my account, but it does seem to be a bit low, though it depends on exactly when the default interest rate started, and I don't have that to hand. Default interest kicked in on the 28th August : Thanks for that. I did a calculation based on my current holding, and it looked as if the AI calculated by AC was a bit low. But I trawled through 15 pages of my statement and found that I had increased my investment a bit during August. So I had a slightly lower investment for the period between the last payment (27/Jul) and the time of my purchase. Recalculating my AI produced a slightly smaller number than I had before, and that's now much closer to what AC are showing. Based on that, I'd say I don't have a problem with the AI calculation for this loan. So it ought not be on the list of loans with potential errors unless someone else has a problem.
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Post by davidricketts1 on Nov 24, 2014 10:41:07 GMT
chris Here, as a start, are the ones Im aware of Ippy - accrued interest appears to be 30 days too much, nominal repayment date should be in Mar not Feb, remaining term displaying 3 not 4 months - highlighted in Q&A repeatedly without result FF - accrued interested seems not to include interest outstanding for final month before default CC L - interest appears not to be accruing at default rate but at original rate Woody - interest appears not to be accruing at default rate but at original rate Elecky - interest not accruing at all, and interest rate showing as 0% Agree with your explanation of Ippy, I called it "interest doubled" because that's co-incidentally what it did. Had it been some other day, it might have been another ... ratio ... but about 1 month in it became 2 months in. Agree with your explanation of FF: Although chris didn't point out this as the source discrepancy between my figures and theirs (I sent _my_ working), and I haven't had the promised breakdown to explain AC's figures (show me _your_ working ... , despite a reminder. It's pretty much the difference I've detected. Not sure how that explains accrued reducing from day to day for a couple of days, unless that was due to work behind the scenes. CCL and Woody: Yes, also mentioned to davidricketts1, so they should be aware. Not just a display issue with the rate (a couple of which have been fixed), it really is going at the wrong rate for these. Elecky: Same here. So add: Bolton(103): Since the partial recovery -- all accrued interest wiped out, with potential explanation as to why, but no clear fix. Unlike some others, I can still see this loan in my list due to some pennies of accrued still pending. G**Tr2(35): Stopped accruing 17/9 -- showing 0% K**e(40): Payment of interest/capital held up to fix issue with people's holdings being wrong due to bought loan parts not being worth the amount the paid for them. Now the interest and capital is paid, the credit for the error is still pending. I think that's the outstanding ones, any more for any more? I'll deal with CCL & Woody for you mikeb.
As these are missed repayments then changing the interest rate to just change it back is something that appears too complicated - particularly if I was to do this and then repayment was made the next day! Default interest is a manual calculation that then will be uploaded separately as borrowers have been made aware that unless they make it up then loan remains in default.
I'm trying to decide the best way to show this on the Overview screen at present but haven't come to a satisfactory conclusion as yet.
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Post by Ton ⓉⓞⓃ on Nov 24, 2014 11:58:59 GMT
<SNIP> I'm trying to decide the best way to show this on the Overview screen at present but haven't come to a satisfactory conclusion as yet. I try to have a days early/late repayments counter for some of my loans; personally I'd love it if you did something like that 
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Nov 24, 2014 12:11:44 GMT
davidricketts1, Can you please find some means of displaying the accrued interest for loans that did not complete? These loans have disappeared from the system but owe lenders thousands of pounds. Redruth London Software East Midlands North Wales to name but a few. Thanks in advance.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Nov 24, 2014 23:42:01 GMT
I'll deal with CCL & Woody for you mikeb.
As these are missed repayments then changing the interest rate to just change it back is something that appears too complicated - particularly if I was to do this and then repayment was made the next day! Default interest is a manual calculation that then will be uploaded separately as borrowers have been made aware that unless they make it up then loan remains in default.
I'm trying to decide the best way to show this on the Overview screen at present but haven't come to a satisfactory conclusion as yet. I was under the impression that the new system allowed the interest rate to be changed on loans as required. So while I understand it doesnt necessarily make sense to change the displayed rate for short term arrears I would have thought the underlying calculation of accrued interest would take into account the varied rate without manual calaculation. This would appear not to be the case from those comments.
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Post by Ton ⓉⓞⓃ on Nov 24, 2014 23:48:27 GMT
I'll deal with CCL & Woody for you mikeb.
As these are missed repayments then changing the interest rate to just change it back is something that appears too complicated - particularly if I was to do this and then repayment was made the next day! Default interest is a manual calculation that then will be uploaded separately as borrowers have been made aware that unless they make it up then loan remains in default.
I'm trying to decide the best way to show this on the Overview screen at present but haven't come to a satisfactory conclusion as yet. I was under the impression that the new system allowed the interest rate to be changed on loans as required. So while I understand it doesnt necessarily make send to change the displayed rate for short term arrears I would have thought the underlying calculation of accrued interest would take into account the varied rate without manual calaculation. This would appear not to be the case from those comments. I guess they, Chris & Co, were thinking that default was an unusual & uncommon occurrence...
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mikes1531
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Post by mikes1531 on Nov 25, 2014 2:05:54 GMT
I guess they, Chris & Co, were thinking that default was an unusual & uncommon occurrence... Are these the same people who had similar thoughts about shadow bids, and so didn't bother including appropriate treatment of them in the new system? 
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mikeb
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Post by mikeb on Nov 27, 2014 19:05:41 GMT
Other loans "on probation" for accruals: Falm***h Wind Turbine, as of today's partial repayment (see this thread ) |
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mikeb
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Post by mikeb on Nov 28, 2014 10:30:06 GMT
Assetz Capital Black Friday Special Deal: Double Accrued Interest daily-delta on all loans this morning. Woo hoo! Not joking ... it looks like the interest calculation run has gone off twice (!) Did not see that coming. (Expecting no extra accrued interest tomorrow, to balance
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oldgrumpy
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Post by oldgrumpy on Nov 28, 2014 10:45:23 GMT
With all these bizarre shenanigans going on with AC's accounting procedures, my poor brain cell has lost the ability to differentiate between accrued interest figures and just plain crude interest figures.  Thank goodness I don't actually need a lot of the figures that major investors must have for their own accountancy/tax purposes. However, when I read what close attention by others to all their transactions has revealed, I certainly do feel concern about how far away from correct my account is, and whether I will ever be told. Sooner or later, regulators will take an interest in this. |
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mikes1531
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Post by mikes1531 on Nov 28, 2014 18:39:16 GMT
Assetz Capital Black Friday Special Deal: Double Accrued Interest daily-delta on all loans this morning. Woo hoo! Not joking ... it looks like the interest calculation run has gone off twice (!) Did not see that coming. (Expecting no extra accrued interest tomorrow, to balance I didn't notice anything like that, but I don't make daily note of my AI amounts so I could have missed it. Then again, a double counting should have been large enough that I would have noticed it. Has anyone else notice this? mikeb: In the Falmouth thread, you pointed out that loan's AI had dropped unreasonably. Is that still the case? If that has been corrected, could it explain the mysterious upward jump in your total AI?
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mikeb
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Post by mikeb on Nov 29, 2014 18:58:30 GMT
mikes1531 - I do note the accrued interest figure shown each day. Actually, more than that, since it's patently obvious that the calculations aren't always sane -- I have a "daily delta" column, and a "predicted next figure" column for every loan, so at a glance I can see if the current accrued is what yesterday's prediction said it would be. From Thursday morning to Friday morning, this early-warning system showed up that almost every loan's AI had gone up to MORE than the predicted amount. I had to update each AI figure twice before it came into line. As to the Falmouth one -- it went backwards when principal bit was recovered, and then went backwards again overnight. No idea what that's supposed to mean, other than yet another loan now colored "Yellow" to indicate these figures are nonsense. The figure's now just wrong,in a different way. The upward jump in the AI, if you look again, was on ALL loans. The backward jump was Falmouth only. You cannot possibly be suggesting that you can correct an error in one loan's accrued interest by paying out twice on all the others. Unless you have the most spectacularly knackered accounting system. We are not there yet.
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... , despite a reminder. It's pretty much the difference I've detected. Not sure how that explains accrued reducing from day to day for a couple of days, unless that was due to work behind the scenes.
