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Post by Ace on Aug 2, 2019 7:57:02 GMT
I was pretty shocked to see that the Target Average Default Rate for the 2019 cohort on the stats page now shows as 15% (used to be 10%).
I'm not sure when this happened, but surely such a change should have been communicated to lenders. More poor form from FO, IMO.
Interestingly, they haven't bothered to update the explanatory text below the stats, which still says 10%.
I'm getting a distinct feeling that this platform is not in good shape.
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Post by tfw on Aug 2, 2019 9:44:22 GMT
Well. I think they had to change it given last year's default rate.
They also added 35 days late and pooled investments.
35 days late seems better as it matches the new fixed PF settings. It should also have less delay than the default rate and should always be higher than the default rate.
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