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Post by captainconfident on Dec 1, 2015 11:37:08 GMT
I feel like a fool for having to ask, but what in TC world does 'refactored' mean?
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bigfoot12
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Post by bigfoot12 on Dec 1, 2015 12:17:57 GMT
I feel like a fool for having to ask, but what in TC world does 'refactored' mean? It means that TC's systems can't cope with some change that needed to happen to the loan (even though that change was expected) and they had to sort of cancel and re-enter it. Very common with inflation linked loans which have an annual uplift in principal. Often this process goes wrong and has to be repeated so we get [Refactored][Refactored] and so on.
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Post by captainconfident on Dec 1, 2015 12:51:21 GMT
Thanks bigfoot12! I'm still don't really understand it very well, as there is no information displayed within the loan information as to what is changing. Indeed the loan information itself does not seem to survive the refactoring process so there is no information about anything, at least on the 3x refactored loan I'm looking at,which is a simple interest only loan.
Might the refactoring be occurring in this instance because the borrower is making occasional capital repayments? Where is the record of this displayed?
I am aware I am asking questions about the functioning of the TC old site, the workings of which are only understood by sages and shamans.
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Post by tybalt on Dec 1, 2015 13:01:10 GMT
Suggest posting on either of the forums at ThinCats naming the loan and hopefully somebody who has also invested can supply chapter and verse.
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bigfoot12
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Post by bigfoot12 on Dec 1, 2015 13:05:10 GMT
Thanks bigfoot12! I'm still don't really understand it very well, as there is no information displayed within the loan information as to what is changing. Indeed the loan information itself does not seem to survive the refactoring process so there is no information about anything, at least on the 3x refactored loan I'm looking at,which is a simple interest only loan. Might the refactoring be occurring in this instance because the borrower is making occasional capital repayments? Where is the record of this displayed? I am aware I am asking questions about the functioning of the TC old site, the workings of which are only understood by sages and shamans. I am neither a sage nor a shaman. You should probably ask on the old forum (.net). There you will be able to name the loan, there is probably already a thread for it. In the Debt Obligation list you should see the previous refactorings as expired loans, assuming you bought it before it was refactored. Yes it is possible that capital repayments require refactoring, but that would mean the system was really badly designed! I thought that the loan description normally contained a comment explaining what the refactoring was for, but as of this minute the description of each of the refactored loans I clicked on is blank. EDIT crossed with tybalt
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Post by captainconfident on Dec 1, 2015 13:12:24 GMT
[quote timestamp="1448975110" author=" bigfoot12 " In the Debt Obligation list you should see the previous refactorings as expired loans, assuming you bought it before it was refactored. Yes it is possible that capital repayments require refactoring, but that would mean the system was really badly designed! [/quote] I wasn't interested in any particular loan, just the process implied by 'refactoring'. The answer is in the quote above, thanks bigfoot12. I feel like I understand it now,a thought I rarely have about the TC website. Edit It appears I don't understand the quote mechanism of this website either. Damn,I used to be good at that. It's all slipping away. Nurse! Is it getting dark in here.... |
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shimself
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Post by shimself on Dec 1, 2015 15:15:52 GMT
Thanks bigfoot12! I'm still don't really understand it very well, as there is no information displayed within the loan information as to what is changing. Indeed the loan information itself does not seem to survive the refactoring process so there is no information about anything, at least on the 3x refactored loan I'm looking at,which is a simple interest only loan. Might the refactoring be occurring in this instance because the borrower is making occasional capital repayments? Where is the record of this displayed? I am aware I am asking questions about the functioning of the TC old site, the workings of which are only understood by sages and shamans. You click on DO details (DO=Debt Obligation=Loan) I think it is so called because the specifier is an accountant and like credits and debits it isn't a loan because they owe you and not the other way round. I digress Then click on the Sponsor name (bottom left ish) This will bring you to a list of all loans from that sponsor and thus to the original loan q&a and documents
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Post by captainconfident on Dec 1, 2015 18:52:26 GMT
Sounds like just the thing, but I couldn't find a magic sponsors name. From Dashboard, which link is it? Sorry for being thick!
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shimself
Member of DD Central
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Post by shimself on Dec 1, 2015 18:59:49 GMT
Sounds like just the thing, but I couldn't find a magic sponsors name. From Dashboard, which link is it? Sorry for being thick! I'm explaining how to unearth the info on a loan which is on the secondary market SM. So it's INVEST and then SECONDARY MARKET Thos loans which have been refactored, probably because of index linking. The outstanding principal is uprated by some version of RPI every year, so the interest (eg7%) remains the same but they amount they owe you goes up. I think. I am sure you can find something more on the confidential investors only forum at TC.
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Post by captainconfident on Dec 1, 2015 19:09:43 GMT
I was wondering about evening classes or the Open University. So where can one find a repayments schedule for each loan in ones portfolio? Can't believe I've never asked this before.
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Post by bracknellboy on Dec 1, 2015 19:38:09 GMT
I was wondering about evening classes or the Open University. So where can one find a repayments schedule for each loan in ones portfolio? Can't believe I've never asked this before. Repayements schedule for a loan ? I think you are thinking of other platforms. OU: I think PhD from Cantab is a minimum.
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Post by captainconfident on Dec 1, 2015 20:25:47 GMT
I really appreciate everyone who's chipped in a bit of help here. Beyond a vaguely improved idea of what 'refactored' means though, its all been in vain.
I guess that 2.0 will probably reveal a can of worms, if it shows the real payment regularity of some of these loans. Perhaps it's better not to know. I worry less about TC than I do about Assetz loans where there is real transparently and regularly provided information to assess. Perhaps Old TC has some merits!
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Post by bracknellboy on Dec 1, 2015 20:33:50 GMT
Refactored is basically ANY time they have to make a change to the prior loan arrangement which affects payments - I think. Often for index linked loans where the captial basis is reassessed at the end of each linking period, but I recall also where we have some quarterly interest roll up, and also if there is e.g. a capital re-payment holiday agreed (I think).
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Post by captainconfident on Dec 1, 2015 21:42:37 GMT
And were can I find the bit which says " capital repayment holiday agreed"?
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Post by bracknellboy on Dec 1, 2015 21:55:42 GMT
And were can I find the bit which says " capital repayment holiday agreed"? ah, well, you would probably find that on the SM status spreadsheet in the dropbox, if it was uptodate. But you would also have been included in a lender vote to agree it. Unless of course you bought it in the SM rather than the PM in which case you might have not been included in the mailing shot. As I said, Cantab rather than O U (no offensive intended to anyone who...... etc etc)
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