lobster
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Post by lobster on Nov 3, 2016 7:14:29 GMT
> When you enter a new month, you will lose any interest from any loan part you have up for sale, regardless of if it sells or is canceled : Are you saying that if someone had put a part up for sale on 30/Oct and it didn't actually sell until 2/Nov they wouldn't have received any interest at all for October? No, I'm sure he's not saying that. In the case you cite, you would receive interest up to the point when you put the loan part up for sale. So you would receive interest up to and including 29th Oct. You would not receive any interest from 30th Oct onwards .
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geoff
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Post by geoff on Nov 3, 2016 8:20:52 GMT
> When you enter a new month, you will lose any interest from any loan part you have up for sale, regardless of if it sells or is canceled Except in the case of loans in default it would seem. As an experiment I put some of PBL 20 up for sale in early October. As expected, it failed to attract a buyer, and I cancelled the sale yesterday, 2nd November. All interest previously accrued for that loan part was shown as restored. I imagine this is probably something to do with defaulted loans not featuring in the normal monthly distribution of interest. I've asked SS for clarification that this is intended.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Nov 3, 2016 9:45:37 GMT
cooling_dude : Are you saying that if someone had put a part up for sale on 30/Oct and it didn't actually sell until 2/Nov they wouldn't have received any interest at all for October? No, I'm sure he's not saying that. In the case you cite, you would receive interest up to the point when you put the loan part up for sale. So you would receive interest up to and including 29th Oct. You would not receive any interest from 30th Oct onwards . almost has it right! It's a complex scenario (believed to be down to some bad coding after SS implemented the cancel option.) You will get all the interest up to the point the loan is placed for sale, but also all the interest in the new month. You only loose the interest while the loan was for sale in a previous Month; a new month is like a reset button. So if you place a loan part on the SM on the 25th of October, and cancel on the 5th of November, you will loose the interest from October 25th - 31st, but gain the interest from November 1st - 5th.
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Post by pepperpot on Nov 3, 2016 13:27:11 GMT
> When you enter a new month, you will lose any interest from any loan part you have up for sale, regardless of if it sells or is canceled Except in the case of loans in default it would seem. As an experiment I put some of PBL 20 up for sale in early October. As expected, it failed to attract a buyer, and I cancelled the sale yesterday, 2nd November. All interest previously accrued for that loan part was shown as restored. I imagine this is probably something to do with defaulted loans not featuring in the normal monthly distribution of interest. I've asked SS for clarification that this is intended. Intended? That implies someone has thought about it. I think it's just landed that side up!
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lobster
Member of DD Central
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Post by lobster on Nov 3, 2016 14:00:56 GMT
No, I'm sure he's not saying that. In the case you cite, you would receive interest up to the point when you put the loan part up for sale. So you would receive interest up to and including 29th Oct. You would not receive any interest from 30th Oct onwards . almost has it right! It's a complex scenario (believed to be down to some bad coding after SS implemented the cancel option.) You will get all the interest up to the point the loan is placed for sale, but also all the interest in the new month. You only loose the interest while the loan was for sale in a previous Month; a new month is like a reset button. So if you place a loan part on the SM on the 25th of October, and cancel on the 5th of November, you will loose the interest from October 25th - 31st, but gain the interest from November 1st - 5th. Thanks dude - I never knew that
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