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Post by Ace on Dec 8, 2021 21:48:51 GMT
I've just noticed that my CP portfolio total is lower now than it was yesterday!!! A deep investigation shows that the likely reason is that some loans repayed today, but the accounts have only been partially updated. The loans are marked as complete, I.e. have been moved to the portfolio completed list, but some of them have the transactions (interest and capital repayments) missing from the transaction list. I'm in multiple tranches of the loans. Some of the tranches have the repayments correctly listed in the transaction list, but others are missing. This has resulted in a drop in the active loans total without a corresponding increase in the account cash. CrowdProperty Representative , it's bad form to allow the account to temporarily be in this state, but even worse form to allow the accounts to remain in this state over night. Clearly, my suspicion of under-staffing issues at CP are becoming even more apparent. |
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Post by overthehill on Dec 8, 2021 22:23:51 GMT
I've just noticed that my CP portfolio total is lower now than it was yesterday!!! A deep investigation shows that the likely reason is that some loans repayed today, but the accounts have only been partially updated. The loans are marked as complete, I.e. have been moved to the portfolio completed list, but some of them have the transactions (interest and capital repayments) missing from the transaction list. I'm in multiple tranches of the loans. Some of the tranches have the repayments correctly listed in the transaction list, but others are missing. This has resulted in a drop in the active loans total without a corresponding increase in the account cash. CrowdProperty Representative , it's bad form to allow the account to temporarily be in this state, but even worse form to allow the accounts to remain in this state over night. Clearly, my suspicion of under-staffing issues at CP are becoming even more apparent.
One for me. Shrewsbury. Repaid capital + interest not showing yet but loan completed, no message yet though. Basically part way through the process.
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markyg61
Member of DD Central
Posts: 339
Likes: 237
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Post by markyg61 on Dec 9, 2021 7:43:48 GMT
yep, same here. Discrepency this morning compared to yesterday morning. Portfolio value is less than it should be, even with a couple of projects paying back capital and interest.
Ace, I dont think its a staffing issue rather a badly coded platform. Cant believe they'd have a staffer hand cranking each transaction through their system...
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
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Post by littleoldlady on Dec 9, 2021 10:17:05 GMT
The system is falling apart. Just tried to transfer some funds between wallets and it crashed. Edit: although it does seem to have done the transfer.
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Post by Ace on Dec 9, 2021 10:35:56 GMT
It's particularly annoying as the missing funds could have been invested in today's loan if they had been repaid on the same day that the associated loans were completed.
On the bright side, an extra loan seems to have made it into the schedule for tomorrow.
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markyg61
Member of DD Central
Posts: 339
Likes: 237
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Post by markyg61 on Dec 9, 2021 11:06:21 GMT
A response to my query:
"Many thanks for getting in touch.
The L*** S**** of A****** W** project has been repaid, which means it is no longer showing in your portfolio amount of active loans. However, as we are currently processing the repayments the amount is not yet showing in your available balance and this will be updated as soon as possible.
Many apologies for the inconvenience, and please let me know if you have any further questions.
Kind regards,
A***** "
It's quite disconcerting when your portfolio value drops by a considerable sum, really think they need to take a look at the way the platform perfoms !
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Post by Ace on Dec 9, 2021 12:30:45 GMT
A response to my query:
"Many thanks for getting in touch.
The L*** S**** of A****** W** project has been repaid, which means it is no longer showing in your portfolio amount of active loans. However, as we are currently processing the repayments the amount is not yet showing in your available balance and this will be updated as soon as possible.
Many apologies for the inconvenience, and please let me know if you have any further questions.
Kind regards,
A***** "
It's quite disconcerting when your portfolio value drops by a considerable sum, really think they need to take a look at the way the platform perfoms !
I think this is more than "quite disconcerting". What they are effectively saying is that at no point can you check your displayed portfolio value and assume it's correct. In order to check that your valuation is correct you first need to check if any loans have moved from the "started" list to the "completed" list since you last checked. If any have, you then need to check your transaction list to see if corresponding capital and interest payments have been made for each. If they have then your portfolio value should be correct; if not then you need to wait until the transactions appear, which could be a day (or possibly more) later. CrowdProperty Representative, this is unacceptable. You need to ensure that capital repayments are processed on lenders'accounts as an atomic action. Otherwise, its completely pointless and misleading displaying a total portfolio value that may or may not be correct. And while you're thinking about that, could I please get a response to my email requesting an explanation of why the payment of retained interest is sometimes made over a month late, and other issues.
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Post by Ace on Dec 9, 2021 12:59:25 GMT
Another transaction for LS of AW has just been processed at 12:44, some 17 and 3/4 hours after the previous transaction relating to the same capital repayment!
I also note that there was a period of about 5 minutes between the transaction appearing in the transaction list and the portfolio value being updated. So even my convoluted method above of checking if your portfolio valuation is correct won't necessarily work. Not good enough CP.
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ton27
Member of DD Central
Posts: 431 
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Post by ton27 on Dec 11, 2021 16:01:36 GMT
These errors are very concerning and made more so by the fact that CP do not acknowledge there is a problem - if they would do so they might also tell us what they are doing about it and when it will be resolved.
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Post by multiaccountmanager on Dec 14, 2021 12:46:00 GMT
I download to Excel the pledges and transactions as shown on the dashboard.
Then I have a pivot table which does the analysis of exactly how much is outstanding in each pledge I made. So ignores CP systems for this problem you are describing.
It misses interest payments not posted to my account, but it estimates accrued interest to date so will be good enough for a total.
There is an issue that the late posted funds are not available to reinvest immediately, but it's the same at Somo my other favourite platform where there is a few days delay.
I agree I should not have had to build that sheet, CP systems should do it better, and sorry I am not sharing it because of the workload of explaining it to others and maintaining it.
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Post by brummiefred on Dec 15, 2021 9:37:16 GMT
Ace It's happened again, a single project repayment on 14th for Cr**by in the sum of £759 but my 'Total Portfolio' dropped by £821 resulting in an increase in the spreadsheet item entitled 'Mystery imbalance' which now amounts to almost 2.5% of the Portfolio
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Post by Ace on Dec 15, 2021 9:47:14 GMT
Ace It's happened again, a single project repayment on 14th for Cr**by in the sum of £759 but my 'Total Portfolio' dropped by £821 resulting in an increase in the spreadsheet item entitled 'Mystery imbalance' which now amounts to almost 2.5% of the Portfolio It's very disconcerting when it happens. Though strangely, my account is in balance after that particular repayment, so it seems it could differ for individual lenders, which is even more worrying to me.
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ton27
Member of DD Central
Posts: 431
Likes: 267
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Post by ton27 on Dec 15, 2021 10:51:29 GMT
As I have said before the most disconcerting aspect of these anomalies is that CP do not seem to acknowledge they exist or respond
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Post by Ace on Mar 14, 2022 0:29:04 GMT
CrowdProperty Representative , another 3 months have passed and still this platform error persists. My portfolio balance has shown a reduced value over the weekend. Please can you put some effort into ensuring that the display of lender's platform totals are correct.
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cb25
Posts: 3,521
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Post by cb25 on Mar 14, 2022 10:02:51 GMT
CrowdProperty Representative , another 3 months have passed and still this platform error persists. My portfolio balance has shown a reduced value over the weekend. Please can you put some effort into ensuring that the display of lender's platform totals are correct. Same is true for my account, I seem to be around £1K light on my IFISA balance. I rang CP and got a woolly explanation of it being due to repayments being made and suggesting I look at the transaction history. That didn't stand up as an explanation as my balance was correct Friday, wrong today and there were no transactions listed between then and now. CP rep couldn't/wouldn't give me a date/time when it would be correct.
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