SteveT
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Post by SteveT on Feb 27, 2015 8:53:18 GMT
Some investigation shows my problem relates to loans 10965 and 10969, both of which I think were accepted by the borrowers yesterday. The total value of my loan holding on both loans has dropped substantially but the number of loan parts remains the same. Looking at the individual loan parts, FC seems to have "zeroed out" the loan part value on roughly 40% of my parts, so some are showing as £20 value and others £0. Weirdly, it isn't even just the highest rate loan parts that have been "zeroed out", as I'd expect if some of my highest rate bids had later been knocked out. The "zeroed out" loan parts are spread seemingly randomly across the 3 different rates I bought at and are not even sequential.
It's as if FC have accepted more loan parts than the loan totals up to and, needing to correct this, has randomly zeroed out a proportion of the loan parts. Not only this but the associated cash hasn't gone back into Available Funds yet.
Anyone else seen anything similar?
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am
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Post by am on Feb 27, 2015 9:11:27 GMT
I'm down £20, and I find that there's a recently accepted loan part with a value of £0.
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Post by GSV3MIaC on Feb 27, 2015 9:12:50 GMT
Sounds more like a bug to me. If they really calculate the time dependant values of all loan parts when issued, as suggested elsewhere, then a hiccup could have resulted in zero values for some of them. Suggest you ring or email FC and raise it with them.
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Post by davee39 on Feb 27, 2015 9:30:21 GMT
Yes, 10965 - 1 part value £0
10969 - 2 parts value £0
Total down £60 (having earlier gone up £20 on a double sale)
The bug lies in taking £200k of bids for a £30k loan. The human error is fiddling with the results manually and incorrectly.
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bloodycat
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Post by bloodycat on Feb 27, 2015 9:49:59 GMT
My account seems to be £17.94 down this morning. No obvious cause yet as it doesn't correspond to any transactions on the secondary market and today unusually is not one where any repayments were due.
I guess if it hasn't sorted itself out beforehand I will have to waste some time on Sunday with excel trying to locate the error.
For the potential return on the amount of money I currently have invested it is not an efficient use of time to selecting loans and keeping a check on the balance. It doesn't inspire confidence for me to risk any more money with them, which might then make it worth my while developing a system to try and automatically track and reconcile the account.
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bloodycat
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Post by bloodycat on Feb 27, 2015 10:02:08 GMT
Yes, 10965 - 1 part value £0 10969 - 2 parts value £0 Total down £60 (having earlier gone up £20 on a double sale) The bug lies in taking £200k of bids for a £30k loan. The human error is fiddling with the results manually and incorrectly. Ah loan 10965 accounts for £20 of my missing £17.94 so maybe when they sort that out there will actually be a few £s error in my favour.
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SteveT
Member of DD Central
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Post by SteveT on Feb 27, 2015 18:42:00 GMT
Problems with "zero value" 10965 and 10969 loan parts now resolved (and very promptly, within 10 hours). Explanation from FC as follows:
"I can confirm that the tech team have now resolved this matter and we apologise for any inconvenience caused, your balance should now be displaying correctly.
Unfortunately, due to some tech issues experienced yesterday, any bids which were placed and accepted in the last 24 hours were not displaying correctly on your Summary page. They had been registered accurately in our system and displayed on your Transaction Statement, however, in the My Loan Parts section of your Summary page they were displayed with an incorrect principal amount. This was the cause for your balance to display incorrectly.
This has now been resolved by our Tech team and these loans are now recorded on your My Loan Parts section correctly.
Again please accept our apologies for any inconvenience or concern caused. Our Tech team are investigating the cause of the issue to ensure it does not occur again.
"
They also balanced my account so, for now at least, it's actually spot on to the penny.
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Post by mostlywrong on Mar 2, 2015 14:36:29 GMT
I was roughly £20 down for a few days a couple of weeks ago. FC sorted it within 24hrs of my email.
I was also £20 adrift last Friday but Betty must have been working last weekend as my account is only a penny adrift today.
MW
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Post by GSV3MIaC on Mar 26, 2015 20:44:35 GMT
Interesting .. both my account and my partners are now 3 figures adrift again, and running my own reconciliation I discover that Betty Bot (or someone) has actually corrected errors INTO the account for last June (I now have several parts in 6391 which I sold, but, according to the transaction statement, never bid on). Back in Jan 15 the transaction statement said (correctly) I bid for them on 4th and 11th June. Betty bot apparently can't reconcile my account just yet - too many transactions (she tries to do the whole lot at once, rather than incrementally). Someone is working on building her a bigger sister.
Floundering Counters do think they have fixed the double sale / never bought errors in the SM, which is something, and I haven't see one of those since a month ago .. but I still have stuck bids (up to early March), and a slew of loan parts which have been sold without ever having been bid on (in one case I sold 10, having bid .. well having been transaction charged for ... just 9. I known I bought 10, because I almost always do, but the abacus has so far failed to find the missing bead. I guess not knowing which of the 10 I didn't pay for adds another level of obscurity). If it was a soap opera, nobody would believe it. 8>.
The latest transaction entries seem to have been 'enhanced' .. I now see
Lender Fee for Loan ID N/A; Loan Part ID 713yyyy; Investor ID xxxxxxxxxxxxxxxxxxxxxx
which raises the hope that one day we may have loan IDs as well as part number IDs on all (or even some) of the transaction statement lines, which would make the whole reconciliation thing a bunch easier. (OK, so far we only get N/A, but at least there is a slot for it).
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Post by gaspilot on Mar 28, 2015 17:43:57 GMT
My discrepancies (and my wife's discrepancies) seem to vary on a daily basis. Mine used to be correct all of the time.
Now it seems to be incorrect all of the time - by a variable amount.
It doesn't inspire me with confidence in the system at all!
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Post by jackpease on Mar 31, 2015 10:21:46 GMT
As an academic exercise I am going to try and download pdfs of my April-March 14/15 tax summaries from FC on a daily basis (daily downloads, keeping the dates the same). I wonder how much they will differ as Betty Bot does her work and how the collapse of the system last weekend leads to continued adjustments.
JP
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Post by gaspilot on Apr 3, 2015 8:56:38 GMT
Both accounts now correct to the penny.
I wonder how long this will last.
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SteveT
Member of DD Central
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Post by SteveT on Apr 3, 2015 9:49:45 GMT
Mine too, after Footling Change managed to track down the cause(s) of an annoying £35+ shortfall yesterday. I'd wager a modest sum that it won't still be spot on by Tuesday...
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SteveT
Member of DD Central
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Post by SteveT on Apr 7, 2015 15:48:40 GMT
Mine too, after Footling Change managed to track down the cause(s) of an annoying £35+ shortfall yesterday. I'd wager a modest sum that it won't still be spot on by Tuesday... I take it all back. My account is still correct to the penny after a full 5 days. Is this a record?
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Post by jackpease on Apr 7, 2015 16:32:52 GMT
well so has mine - just as i have been trying to catch them out with changing tax statement, I've been doing a daily download and it has stayed the same for the last week
JP
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