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Post by multiaccountmanager on Jun 5, 2021 12:34:30 GMT
I seem to recall there were weekly cash statements showing repayments etc on loans?
If so, where are they on the current web site?
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aju
Member of DD Central
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Post by aju on Jun 5, 2021 17:03:56 GMT
I seem to recall there were weekly cash statements showing repayments etc on loans? If so, where are they on the current web site? Do you mean from a borrower perspective or a lender perspective. From a lender perspective its been quite a few years or so since they stopped weekly figures i checked back at my spreadsheet where i recorded them and the last entry is dated 08/10/2018 to 14/10/2018. Apparently very few people were actually looking at them so they discontinued the info. They have removed a lot of useful stuff since February this year too such as statements details info. For people like me who have old Classic loans going back pre Core and Plus then you will find that current defaults figures you may or may have are not presented for these. Since this is where a lot of my defaults are then it skews the overall default figures quite a bit. (I complained to them and they seemed to see it as drop off and were looking into restoring the overall top level default numbers we used to have but sadly I wonder if its not in their interest to show the uninformed the real picture.) They do still present monthly statements detailing things such as interest, fees and bonuses, default values, default returns etc. Since they are updated daily or more often then you could perhaps see what is happening there. They only go back as far as 2015 so not a complete picture though. The alltime loanbook is no longer available and as a result of the recent updates in Feb they also removed a number of completed loans that were not considered to be important as they had completed. In fact in many peoples cases they will not even know that there are loans that they just removed and did not actually report on the closed state of them and they are no longer visible in the current loanbook. I am still waiting for them to provide the promised answers to my lost data and apparently it was a mistake that they lost loans info that was not reported on but i'm not sure they are going to provide this for everyone just those like me that have started an 8 week FCA reporting clock!. Sorry if that's more info than you were expecting and if it was a case you were referring to a borrowers perspective then apologies for the wrong answer.
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Post by multiaccountmanager on Jun 6, 2021 8:59:48 GMT
Thank you Aju. I can hardly believe it was 2018 that I was looking at weekly statements. I only have about £800 undefaulted left in ZOPA having overall achieved an XIRR of 1.48% - I had the misfortune to invest at a time when ZOPA admits its credit processes were poor. It is still repaying about £60-70 per month despite the fact that almost all of the loans are covid affected.
Can you suggest any way of Checking which late loans are making payments?
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Post by mfaxford on Jun 6, 2021 11:31:51 GMT
Thank you Aju. I can hardly believe it was 2018 that I was looking at weekly statements. I only have about £800 undefaulted left in ZOPA having overall achieved an XIRR of 1.48% - I had the misfortune to invest at a time when ZOPA admits its credit processes were poor. It is still repaying about £60-70 per month despite the fact that almost all of the loans are covid affected. Can you suggest any way of Checking which late loans are making payments? Whilst not a quick method you could download your current loanbook spreadsheet and then download it again after a month and compare values between the two which should let you see where repayments have been made and how much. You might need to repeat over a few months if some loans only pay irregularly.
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Post by multiaccountmanager on Jun 6, 2021 14:31:29 GMT
Thank you Aju. I can hardly believe it was 2018 that I was looking at weekly statements. I only have about £800 undefaulted left in ZOPA having overall achieved an XIRR of 1.48% - I had the misfortune to invest at a time when ZOPA admits its credit processes were poor. It is still repaying about £60-70 per month despite the fact that almost all of the loans are covid affected. Can you suggest any way of Checking which late loans are making payments? BTW the 1.48% XIRR was after deducting sell out fees and market rate adjustments without which XIRR would have been 2.3%
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aju
Member of DD Central
Posts: 3,500
Likes: 924
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Post by aju on Jun 7, 2021 22:11:06 GMT
Thank you Aju. I can hardly believe it was 2018 that I was looking at weekly statements. I only have about £800 undefaulted left in ZOPA having overall achieved an XIRR of 1.48% - I had the misfortune to invest at a time when ZOPA admits its credit processes were poor. It is still repaying about £60-70 per month despite the fact that almost all of the loans are covid affected. Can you suggest any way of Checking which late loans are making payments? Whilst not a quick method you could download your current loanbook spreadsheet and then download it again after a month and compare values between the two which should let you see where repayments have been made and how much. You might need to repeat over a few months if some loans only pay irregularly. You beat me to it that's what i am doing at present although to be fair i have not actually integrated it into my original tools as yet - not sure i can as the old method was quite accurate to the second when payments were made. The loanbook does not have this option but that said its still a possible approach to watch loans. The thing is though I'm not sure what this might help with as my experience in the past was that payments become quite erratic when people are struggling. I must set myself a reminder though to download our 4 loanbooks as soon as possible on 1st day of month. Its helped by most of the repayments being collected integrated by 11:30pm on the last business day of the month if the last few weeks are to be believed.
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Post by mfaxford on Jun 8, 2021 8:19:03 GMT
I must set myself a reminder though to download our 4 loanbooks as soon as possible on 1st day of month. Its helped by most of the repayments being collected integrated by 11:30pm on the last business day of the month if the last few weeks are to be believed. I keep meaning to do the same (possibly weekly) so that there's at least a chance of doing some analysis later. Currently I've just been grabbing it when I think it's been a little while since I last grabbed a copy or if I want to check something specific (recent defaults normally).
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