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Post by chris on Aug 28, 2014 5:12:06 GMT
There was no underpayment - the deferred interest was paid to the current owners of the loan units rather than being directed to the sellers. So the totals paid out added up to the expected amount thus no alarm bells were rung. Unfortunately this was a relatively subtle bug that would be very hard to detect automatically as the algorithm required to detect the mispayment would be near identical to the one used to make the payment in the first place. As mentioned elsewhere this entire subsystem is being replaced with a more elegant and less complicated design. Do you think that the complete interest payment re-calculation would've spotted it? Only if you recalculated all the deferred interest at point of repayment - which happens to be the model we're moving to anyway.
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mikes1531
Member of DD Central
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Post by mikes1531 on Nov 12, 2014 23:39:44 GMT
We have an interesting development in the Aftermarket for this loan. As I write this, according to the AC website... On the various tables of loans, the same amount is shown as "Units Available". chris or andrewholgate: Can someone please explain how 103.5% of the amount of this loan can be up for sale at once? (It's a £960k loan.) I thought only the Bank of England was allowed to print money!
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