spiral
Member of DD Central
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Post by spiral on May 10, 2014 9:45:55 GMT
As the title says. I've just logged on to see if their new system of redistributing loans on a weekly basis was up and running but cannot find out the distribution detail. All I can see is the money I have out on loan, in what market and at what rate. Details just gives me a repayment schedule. Can anyone please point me in the right direction? Thanks in advance.
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webwiz
Posts: 1,133
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Post by webwiz on May 10, 2014 16:43:28 GMT
The new system was supposed go live 6 weeks ago, but ASFAIK seems to have been delayed (or postponed or cancelled.)
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Post by wellesleyco on May 12, 2014 16:00:37 GMT
spiral, webwiz, shimself and all other wandering about an update on our Re-matching System. On the 28th March on the Business Update page we announced we were in the second round of testing the product. It is still very much our intention to launch this product however we were unhappy with one or two elements of the functionality and therefore are still developing this further. We are sorry and hold our hands up that yes this is running behind schedule. We are committed to having this project finished as quickly as possible however, are also unwilling to release it until we believe it will operate with maximum efficiency. The aim to increase diversification across our loan book using this tool is also combined with increasing transparency of it. To this effect we hope that you will bear with us and without wanting to incorrectly estimate its arrival, I am told it is very close now. For those unclear of the entire details of the automatching tool, we are confirming the literature that accompanies it to make sure that it is clear and the benefits are understood by all.
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spiral
Member of DD Central
Posts: 908
Likes: 455
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Post by spiral on May 12, 2014 18:19:42 GMT
In the meantime, is it possible/going to be possible to see what loan(s) my money is invested in or is this what you mean by increasing transparancy?
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Post by wellesleyco on May 13, 2014 7:50:53 GMT
spiral. I may have used the wrong word in transparency, I think 'visibility' may better describe what I meant. With the diversification will come greater visibility of the loans which each lender is involved with. In the meantime, we are open to any lender who wishes to know which loans they are personally matched to. If you would like to email info@wellesley.co.uk we shall disclose to you which loans you are matched to.
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spiral
Member of DD Central
Posts: 908
Likes: 455
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Post by spiral on May 13, 2014 15:45:43 GMT
spiral. I may have used the wrong word in transparency, I think 'visibility' may better describe what I meant. With the diversification will come greater visibility of the loans which each lender is involved with. In the meantime, we are open to any lender who wishes to know which loans they are personally matched to. If you would like to email info@wellesley.co.uk we shall disclose to you which loans you are matched to. No problem, I didn't read anything underhand or devious with the word transparency but agree that visibility is a better term to use. Although interested to see the loan that I am part of, I was more interested to see if the new matching process was live. It was when looking to see that, I realised I had no way of knowing whether it was live or not as I couldn't see my loan parts. From other discussions I had seen, I assumed this info was visible and that I just wasn't looking in the correct place. For now, I'll wait until we have the "greater visibility". Thanks anyway.
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Post by wellesleyco on May 13, 2014 15:55:14 GMT
spiral We will be releasing more information in depth about the re-matching system when we launch it. We are making sure that the literature to accompany it is very clear and pays due attention to the processes and advantages of it to lenders. We are looking forward to the completion of this project as we believe it will further innrease lender confidence and set a precedent for the industry as a whole.
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