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Post by drphil on Apr 1, 2022 10:44:20 GMT
This link p2pmarketdata.com/blog/lendwise-review/ is quite informative though doesn't provide much in the way of critique but answers your question that you can filter on the basis of grace period.I have emailed the platform for further information on this The plot thickens. I received this response to my question:
"We do not currently have this functionality, however it is something I have fed back to the Senior Management team and they will be discussing the benefits of adding such a function."
So I replied, pointing out that the screenshot in the p2pmarketdata review, shows grace period is one of the available filters and I got this response:
"..we do wnat to highlight that the screenshot you have provided to us from p2pmarketdata (https://p2pmarketdata.com/blog/lendwise-review/) is outdated as we no longer have grace period in the AutoLend filter criteria."
So they did have it but have removed it. Presumably for the very reason that Greenwood2 alluded to i.e all the paying loans were being snapped up, leaving loans in grace not being funded.
On the separate issue of high default rate in 2019, I got this response:
"In regards to defaults, we have a strict policy of marking loans in arrears for more than 90 days as defaulted. It is often the case that defaulted loans are still repaying (and even back "on track") but behind on the agreed repayment schedule and this can be seen in the "Recovery rate". A borrower could therefore be still paying even if they have defaulted previously as we take our duty of collection owed to our investors very seriously."
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ilmoro
Member of DD Central
'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 Apr 1, 2022 11:20:54 GMT
This link p2pmarketdata.com/blog/lendwise-review/ is quite informative though doesn't provide much in the way of critique but answers your question that you can filter on the basis of grace period.I have emailed the platform for further information on this The plot thickens. I received this response to my question:
"We do not currently have this functionality, however it is something I have fed back to the Senior Management team and they will be discussing the benefits of adding such a function."
So I replied, pointing out that the screenshot in the p2pmarketdata review, shows grace period is one of the available filters and I got this response:
"..we do wnat to highlight that the screenshot you have provided to us from p2pmarketdata (https://p2pmarketdata.com/blog/lendwise-review/) is outdated as we no longer have grace period in the AutoLend filter criteria."
So they did have it but have removed it. Presumably for the very reason that Greenwood2 alluded to i.e all the paying loans were being snapped up, leaving loans in grace not being funded.
On the separate issue of high default rate in 2019, I got this response:
"In regards to defaults, we have a strict policy of marking loans in arrears for more than 90 days as defaulted. It is often the case that defaulted loans are still repaying (and even back "on track") but behind on the agreed repayment schedule and this can be seen in the "Recovery rate". A borrower could therefore be still paying even if they have defaulted previously as we take our duty of collection owed to our investors very seriously."
Im not entirely sure what the question is but there is a 'grace' filter. Doesnt seem relevant for the PM at the moment as loans are listed one at a time currently so there is nothing to filter. On the SM it seems to do something Ive just no idea what. It certainly filters and brings up loans that havent started paying yet but plenty that have. So far Ive got round it by setting it for loans with shorter terms, up to 31m which appear to have all started making payments. All they really need is a tick box to include loans that have made payments or not Edit. The difference between p2pmarketdata images and the current set up is that there is no longer the option to use filter as autolend portfolio so the filters merely filter the loans visible on the markets. The autolend portfolio set up does not include an option to restrict just to loan beyond their grace period.
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