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Post by chris on Sept 11, 2015 15:01:26 GMT
My first sentence in that reply did address that question. It was a glitch on some accounts, it's been addressed. You should be near the head of the queue now. The system withdraws funds from idle cash first then from the QAA second. You can verify this with a small withdrawal first if you like. Thanks Chris! I do agree with some of the earlier comments that it would be helpful to get an estimate of how long it will take that idle funds might be deployed. Maybe rather than showing the whole order book just give an estimated time Frame as you do with the average time to withdraw funds, obviously this is no certain number but at least one has a fair estimate. I'm not sure how to estimate to be honest as certain events are going to heavily skew the figures. When a new loan draws down and idle funds are pulled from the QAA to invest in that loan then they're going to be heavily skewed compared to a period where there hasn't been much activity for a couple of days. The system won't be able to guess as to when those events are going to occur and before and after those events any calculated averages or estimates are going to be very misleading.
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caesium
Member of DD Central
Posts: 86 
Likes: 35
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Post by caesium on Sept 11, 2015 15:35:28 GMT
One more small bug to report, the "pie chart" showing the breakdown of where my money is on the dashboard doesn't seem to be taking QAA into account - it claims QAA is 0% of my funds.
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Post by chris on Sept 11, 2015 15:47:06 GMT
One more small bug to report, the "pie chart" showing the breakdown of where my money is on the dashboard doesn't seem to be taking QAA into account - it claims QAA is 0% of my funds. Yup, tis known and will be worked on when the dust has settled.
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bigfoot12
Member of DD Central
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Post by bigfoot12 on Sept 11, 2015 16:10:10 GMT
The system withdraws funds from idle cash first then from the QAA second. You can verify this with a small withdrawal first if you like. I tried this earlier and it worked for me, however the form didn't show that I had any money waiting, and it wasn't included in the total. But it did work.
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Post by Jack Barlow on Sept 11, 2015 16:50:13 GMT
chris, I may have missed it in one of year earlier posts, but when and where does the interest get credited to our accounts? If not daily, does the accrual get included in the dashboard accrued interest figure?
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Post by chris on Sept 11, 2015 16:54:33 GMT
chris, I may have missed it in one of year earlier posts, but when and where does the interest get credited to our accounts? If not daily, does the accrual get included in the dashboard accrued interest figure? Not currently included on the dashboard. At the moment interest will be paid 1 month after the launch of the account but we're currently debating bringing that forward to the 1st of the month so it's a nice easy to track and consistent date. If it does move forward in that way we'll let everyone know.
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Post by Jack Barlow on Sept 11, 2015 17:04:28 GMT
Thanks chris. I'd prefer the 1st of the month. I'd like to see the accrual appear on the dashboard at some stage, ideally in the QAA header bar as well as in the (optional) "Current accrued interest" figure on the customisable (black) header. (I assume you've checked the accrual is working?!) |
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Post by chris on Sept 11, 2015 17:15:29 GMT
Thanks chris. I'd prefer the 1st of the month. I'd like to see the accrual appear on the dashboard at some stage, ideally in the QAA header bar as well as in the (optional) "Current accrued interest" figure on the customisable (black) header. (I assume you've checked the accrual is working?!) Accrual on our platform is only ever a display calculation. Interest is always calculated from scratch whenever a payment is made. I'd like it to be displayed as well, hopefully in the next week.
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Post by Jack Barlow on Sept 11, 2015 17:24:35 GMT
chris, a slight digression, but talking of interest calculations, is there any prospect of a resolution of the error that occurred when calculating the interest due for some of the loans that were bought/sold on the SM in early 2014? I still seem to be about £11 short. EDIT: I think this was your last post on the subject: p2pindependentforum.com/post/31647/thread
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Post by chris on Sept 11, 2015 17:48:26 GMT
chris, a slight digression, but talking of interest calculations, is there any prospect of a resolution of the error that occurred when calculating the interest due for some of the loans that were bought/sold on the SM in early 2014? I still seem to be about £11 short. EDIT: I think this was your last post on the subject: p2pindependentforum.com/post/31647/thread Still on the to do list. Will see the lay of the land when I get back from holiday. We're due a couple of quiet months now this project is live so I should have some capacity to work on the investigation and potential correction.
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Post by msa on Sept 11, 2015 18:59:08 GMT
Thanks Chris! I do agree with some of the earlier comments that it would be helpful to get an estimate of how long it will take that idle funds might be deployed. Maybe rather than showing the whole order book just give an estimated time Frame as you do with the average time to withdraw funds, obviously this is no certain number but at least one has a fair estimate. I'm not sure how to estimate to be honest as certain events are going to heavily skew the figures. When a new loan draws down and idle funds are pulled from the QAA to invest in that loan then they're going to be heavily skewed compared to a period where there hasn't been much activity for a couple of days. The system won't be able to guess as to when those events are going to occur and before and after those events any calculated averages or estimates are going to be very misleading. Yes, I see your point. I guess a solution would be to see the total amount of "Awaiting Investment" from other Investors which sits in front of the Queue before one own's money will be deployed to be able to monitor it which I think is a necessary funtion, well at least for me. I won't have several thousands sitting idle with no interest earned not knowing how long this can take. If the Intention is to bind new Money to the platform I think you need this feature, if the QAA is just to enhance for the money already on the platform you might not need it. I will withdraw my idle 3.5k untill there is such a Feature.
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Post by chris on Sept 11, 2015 19:45:15 GMT
I'm not sure how to estimate to be honest as certain events are going to heavily skew the figures. When a new loan draws down and idle funds are pulled from the QAA to invest in that loan then they're going to be heavily skewed compared to a period where there hasn't been much activity for a couple of days. The system won't be able to guess as to when those events are going to occur and before and after those events any calculated averages or estimates are going to be very misleading. Yes, I see your point. I guess a solution would be to see the total amount of "Awaiting Investment" from other Investors which sits in front of the Queue before one own's money will be deployed to be able to monitor it which I think is a necessary funtion, well at least for me. I won't have several thousands sitting idle with no interest earned not knowing how long this can take. If the Intention is to bind new Money to the platform I think you need this feature, if the QAA is just to enhance for the money already on the platform you might not need it. I will withdraw my idle 3.5k untill there is such a Feature. Well you may have money in more than one place in the queue which complicates it further. We'll come up with something but it needs more thought than I have capacity for at the moment.
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min
Member of DD Central
Posts: 615
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Post by min on Sept 11, 2015 21:04:06 GMT
Yes, I see your point. I guess a solution would be to see the total amount of "Awaiting Investment" from other Investors which sits in front of the Queue before one own's money will be deployed to be able to monitor it which I think is a necessary funtion, well at least for me. I won't have several thousands sitting idle with no interest earned not knowing how long this can take. If the Intention is to bind new Money to the platform I think you need this feature, if the QAA is just to enhance for the money already on the platform you might not need it. I will withdraw my idle 3.5k untill there is such a Feature. Well you may have money in more than one place in the queue which complicates it further. We'll come up with something but it needs more thought than I have capacity for at the moment. Chris Have to say have been uber impressed with your contributions. Know that IT never works smoothly. FGS go and have a good holiday.
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Post by stuartassetzcapital on Sept 11, 2015 21:19:50 GMT
We are not licensed to take deposits so cannot pay interest unless invested in loans. Not sure how some sites handle this but we are strict on this requirement. We therefore invest in loans but dont invest all cash in order to maintain liquidity also and reduce exposure. Any defaults / losses are to be handled by the provision fund. This last sentence sounds close to a guarantee which I assume isn't the case. Is there a plan for an event which exceeds the PF? I don't ever want it to be needed, but would like to understand it just in case. The PF is designed to be c 5 times our expected loss rate and if losses excees that the n the PF cannot handle it. Nonetheless we aim to grow this PF size over time.
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Post by stuartassetzcapital on Sept 11, 2015 21:23:09 GMT
Now that the supreme technical challenge of making the same money go round and round in ever decreasing circles has been cracked, could AC please focus management attention back onto the core objective of writing some new loans? I'm struggling to remember when the last new loan draw-down took place (sometime in the late 1980s was it?) but I've got all my fingers and toes crossed that there might be another before Xmas  Yes there are lots of drawdowns due over the next 30 days and ever increasing numbers after that
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