iren
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Post by iren on Jul 28, 2015 14:38:31 GMT
The problem with misreported holdings continues... According to my MLIA statement, I bought a bit of Montrose WT this morning. According to my loan book, my holding is nil! I was trying to check to see whether I have reached my target for this loan -- and therefore whether I might need to adjust the target -- but I can't because the system is telling me I don't own any of this loan at all. I'm stuck!  chris: What is going on? Is AC aware of the problem? Is a fix in sight? AC is aware, fix is being worked on. What happened was some lenders complained to the customer services team that they had fractional holdings in loans that was leading to the site being messy. One of our developers was then instructed to change it to display < 0.01p in those instances with rollovers and tooltips to give more accurate figures whilst I was out of the office. He's done so but in the process has changed to using a more accurate figure in the database for the value of a loan unit. However that figure is only periodically updated and is cached the rest of the time so shouldn't be used for display purposes (it's intended for a specific report). They've then switched to using another live calculated figure but have run into rounding issues on whether we should be rounding up, down or to nearest in each instance it's displayed. I don't think that work is live yet but it may be. I've just put a stop to the project and asked the developers to revert to the old code until I can properly consider what our policy should be and make sure everything is consistent, clear and accurate. So the site will remain as it was (prior to these issues) for a few weeks until I can properly turn my attention to this. I guess I was one of those. I queried why a loan I had sold was still on my "Your Loans" list, as both interest and capital were at 0.00. I didn't realise I'd retained a penny fraction holding, as there's no hover over for capital that shows more than two decimal places. When the site was updated yesterday, it briefly showed the capital as <£0.01. This holding is so small that it doesn't accrue any interest, so when interest was last paid a credit appeared on my account that was a full set of around twenty zeroes. It is a bit messy, so a solution would be ideal, but at least I now understand how it works.
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niceguy37
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Post by niceguy37 on Aug 3, 2015 14:40:47 GMT
chris will there be an email or something in the Website ChangeLog summarising how the sale at a discount is intended to work, especially in relation to setting targets to buy only at a discount (if this is going to be possible)? By the way, well done on the gradual erosion of the list of outstanding issues with the website. Being able to sort loans on most recent update, for example, is very helpful.
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Post by chris on Aug 3, 2015 14:50:50 GMT
chris will there be an email or something in the Website ChangeLog summarising how the sale at a discount is intended to work, especially in relation to setting targets to buy only at a discount (if this is going to be possible)? Yes that will be possible, and an email will be sent when this feature goes live. At the moment that's tied to the release of our next account, general restructuring of how the market works, and improved algorithm for the automatic investment accounts all of which is due in August as one big update.
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warn
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Curmudgeon
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Post by warn on Aug 27, 2015 6:28:02 GMT
...the release of our next account, general restructuring of how the market works, and improved algorithm for the automatic investment accounts all of which is due in August as one big update. Not long to wait now!!!
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Post by chris on Aug 27, 2015 6:38:02 GMT
...the release of our next account, general restructuring of how the market works, and improved algorithm for the automatic investment accounts all of which is due in August as one big update. Not long to wait now!!! Nope, not long. We're running through our final testing now as everything has been coded bar one new idea we've had that I'm trying to code this week. As we need to co-ordinate the release with the marketing / content team the actual release date has slipped to the week of the 7th September though as there's a load of additional information screens, help screens, and other marketing collateral that is still being created.
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SteveT
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Post by SteveT on Sept 9, 2015 17:26:15 GMT
I see that the old "Target" system has now been replaced by the new Buying and Selling Instructions. No fundamental issue with this but can we PLEASE have an extra column that shows what our total holding will end up at if / when the Instruction is fulfilled (it could be called, ermmmm, how about "Target"?). My brain is already struggling to add up the Instruction and Holding fields in my head to remember what I set as my target in each loan...
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Post by chris on Sept 9, 2015 17:43:14 GMT
I see that the old "Target" system has now been replaced by the new Buying and Selling Instructions. No fundamental issue with this but can we PLEASE have an extra column that shows what our total holding will end up at if / when the Instruction is fulfilled (it could be called, ermmmm, how about "Target"?). My brain is already struggling to add up the Instruction and Holding fields in my head to remember what I set as my target in each loan... Will get it added tomorrow
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Post by marek63 on Sept 9, 2015 18:08:29 GMT
Note that the Units Available page in the Browse Loans link did not work in the 'new' site when it was turned on. Just gave an 'error' page. Worth fixing before the next trial.
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mikes1531
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Post by mikes1531 on Sept 9, 2015 20:23:01 GMT
There's no mention in the Website Changelog thread of a new release today, but I seem to have logged into a significant change. More importantly... Am I the only one who had screwy things happening in their MLIA between about 1800 and 2000 today? Like finding it was buying parts of loans that I didn't want -- I had some small targets set on loans with 'Manual Investment Disabled'. Or selling some parts in loans that were supposed to be "Trading Suspended"? Then, after a period of 'Site unavailable due to maintenance', I logged in to find that all those transactions -- there were about 100 of them -- had disappeared from my MLIA statement. And that all of the changes I had made to targets during that time had been undone/cancelled! chris: Was it just me? Or did the system have a major glitch and have to be reverted to an earlier point in time? |
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kermie
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Post by kermie on Sept 9, 2015 20:28:18 GMT
There's no mention in the Website Changelog thread of a new release today, but I seem to have logged into a significant change. More importantly... Am I the only one who had screwy things happening in their MLIA between about 1800 and 2000 today? Like finding it was buying parts of loans that I didn't want -- I had some small targets set on loans with 'Manual Investment Disabled'. Or selling some parts in loans that were supposed to be "Trading Suspended"? Then, after a period of 'Site unavailable due to maintenance', I logged in to find that all those transactions -- there were about 100 of them -- had disappeared from my MLIA statement. And that all of the changes I had made to targets during that time had been undone/cancelled! chris: Was it just me? Or did the system have a major glitch and have to be reverted to an earlier point in time? The new QAA went live for an hour (?) then the database was rolled-back because of some unintended trades. See other thread re: QAA.
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bigfoot12
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Post by bigfoot12 on Sept 9, 2015 20:28:29 GMT
There's no mention in the Website Changelog thread of a new release today, but I seem to have logged into a significant change. More importantly... Am I the only one who had screwy things happening in their MLIA between about 1800 and 2000 today? Like finding it was buying parts of loans that I didn't want -- I had some small targets set on loans with 'Manual Investment Disabled'. Or selling some parts in loans that were supposed to be "Trading Suspended"? Then, after a period of 'Site unavailable due to maintenance', I logged in to find that all those transactions -- there were about 100 of them -- had disappeared from my MLIA statement. And that all of the changes I had made to targets during that time had been undone/cancelled! chris: Was it just me? Or did the system have a major glitch and have to be reverted to an earlier point in time? It wasn't just you. See QAA thread for the full details.
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Post by pepperpot on Sept 9, 2015 22:25:18 GMT
I think it would be good if the QAA "Lent from Idle Funds" figure could go in the Customisable header thing on the Dashboard screen. I guess the "Currently Invested" from MLIA would be good in there too if possible. Thinking about it, since the QAA is "like" cash, it could probably be put higher that the investment accounts on the page but just after the "Cash Account" ? I like the idea of moving the QAA up the page, it has a link to all accounts so most are likely to use it. Or even better, a user defined order, so you can have the account you are most interested in at the top, whichever that might be.
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Post by chris on Sept 10, 2015 3:35:58 GMT
I think it would be good if the QAA "Lent from Idle Funds" figure could go in the Customisable header thing on the Dashboard screen. I guess the "Currently Invested" from MLIA would be good in there too if possible. Thinking about it, since the QAA is "like" cash, it could probably be put higher that the investment accounts on the page but just after the "Cash Account" ? I like the idea of moving the QAA up the page, it has a link to all accounts so most are likely to use it. Or even better, a user defined order, so you can have the account you are most interested in at the top, whichever that might be. User defined order is on the to do list, as is being able to hide accounts you're not interested in.
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sqh
Member of DD Central
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 Sept 10, 2015 8:12:03 GMT
chris. I'm very happy to see loan discounting return, but it has gone from one extreme to another. Previously, we had discounting to 2 decimal places, now it's 0.5% steps and nothing below 1%. Previously, discounting had 3 purposes. 1. Allow lenders to get to the head of the queue with a tiny discount of 0.01%. 2. Allow underwriters to free up funds and allow lenders to get a better deal for less short-term liquidity. 3. Allow distressed loans to be sold at a sizeable discount, although this only happened on loan #70. (11% discount offered IIRC) Not sure if lenders want scenario 1. However, can we please have discounting of 0.1% steps up to 2%. This would satisfy scenario 2. Also, do we really want discounting to -99.5%. I'm worried a new investor may read this the wrong way round with a double negative and think it's a 0.5% discount. I think a maximum of 50% discount should cover all situations, remember it is asset backed lending.
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Post by chris on Sept 10, 2015 8:21:43 GMT
chris. I'm very happy to see loan discounting return, but it has gone from one extreme to another. Previously, we had discounting to 2 decimal places, now it's 0.5% steps and nothing below 1%. Previously, discounting had 3 purposes. 1. Allow lenders to get to the head of the queue with a tiny discount of 0.01%. 2. Allow underwriters to free up funds and allow lenders to get a better deal for less short-term liquidity. 3. Allow distressed loans to be sold at a sizeable discount, although this only happened on loan #70. (11% discount offered IIRC) Not sure if lenders want scenario 1. However, can we please have discounting of 0.1% steps up to 2%. This would satisfy scenario 2. Also, do we really want discounting to -99.5%. I'm worried a new investor may read this the wrong way round with a double negative and think it's a 0.5% discount. I think a maximum of 50% discount should cover all situations, remember it is asset backed lending. I'm reviewing this with my fellow directors today. 0.01% discounts are a bit over the top and just allow sellers to circumvent the allocation algorithms by trying to out do other lenders by the tiniest of fractions. This can also mean bypassing the underwriters and QAA when they're trying to sell down a loan without actually having to offer anything beyond the tiniest of discounts. 1% was chosen to make sure that lenders offering a discount have to overcome that hurdle to do so, rather than just play with bypassing the algorithms as a matter of routine. We're thinking of allowing 0.5% and possibly even 0.25% but no promises on that yet. See your point on discounting beyond 50%, will discuss that as well and most likely will change it.
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