ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 1, 2017 9:02:13 GMT
Interesting. I assume: SBL (serviced by Lendy) - is for older loans under the previous T&C (hence should disappear sooner or later as a category) Did they not announce they would be servicing interest for loans up to 3 months overdue from their own resources? Yes, its in the document
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
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Post by ilmoro on Mar 1, 2017 9:06:51 GMT
not sure if it's been mentioned elsewhere but a new column seems to have appeared "interest status". Values include IOA (interest on account), SBL (serviced by Lendy), IA (Interest accruing) and DEF (default). PBL0734, 74 and 75 showing as default but not in default tab (yet?). R Interesting. I assume: SBL (serviced by Lendy) - is for older loans under the previous T&C (hence should disappear sooner or later as a category) IA (Interest accruing) - should be the regular loans IOA (interest on account) - should be special loans with prepaid interest at source (?) Have you read the policy doc? SBL - up to 90 days overdue covered by Lendy, not just old loans IA - overdue 90-180 days, accruing IOA - not overdue, interest covered as normal from funds retained at drawdown, interest paid by borrower on extension DEF - default, over 180 days overdue, interest accruing Abbreviations not mentioned in doc but clear what they are
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Post by chrisj on Mar 1, 2017 9:07:13 GMT
For me SS no longer has a USP and all the things I liked about it no longer exist, which is why I removed all my funds from SS last month. I always knew it wasnt going to last forever, it has been fun while it lasted.
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Post by Deleted on Mar 1, 2017 9:10:02 GMT
So... will the loans marked 'DEF' be moved to the Defaulted Loans tab now?
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moist
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Post by moist on Mar 1, 2017 9:10:57 GMT
thinking the same...as it stands in 2 weeks there will be 13 defaulted loans......
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twoheads
Member of DD Central
Programming
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Post by twoheads on Mar 1, 2017 9:12:42 GMT
not sure if it's been mentioned elsewhere but a new column seems to have appeared "interest status". Values include IOA (interest on account), SBL (serviced by Lendy), IA (Interest accruing) and DEF (default). PBL0734, 74 and 75 showing as default but not in default tab (yet?). R Interesting. I assume: SBL (serviced by Lendy) - is for older loans under the previous T&C (hence should disappear sooner or later as a category) IA (Interest accruing) - should be the regular loans IOA (interest on account) - should be special loans with prepaid interest at source (?) I think not. According to Lendy's missive:
SBL is for loans over term for the first 90 days (i.e. from -1 to -90 days, Lendy will service the interest). IA is for loans over term for the next 90 days (i.e. from -91 to -180 days, no interest is paid to investors - although they may receive that interest when the loan is repaid/recovered). IOA is for loans within term (non negative remaining term) because the interest is paid by lenders up front and is with SS. DEF is for loans more than 180 days over term. Not much is said about interest for defaulted loans.
Their statement from last month had different acronyms (TP and TPA instead of SBL and IA) but I think the terms introduced for the web site make more sense.
EDIT - Crossed with loads but particularly ilmoro.
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Post by geraldine1210 on Mar 1, 2017 9:19:05 GMT
So... will the loans marked 'DEF' be moved to the Defaulted Loans tab now? I think they can't at the moment, almost page went into a frenzy of 'flashing' last night.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
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Post by ilmoro on Mar 1, 2017 9:20:38 GMT
Interesting. I assume: SBL (serviced by Lendy) - is for older loans under the previous T&C (hence should disappear sooner or later as a category) IA (Interest accruing) - should be the regular loans IOA (interest on account) - should be special loans with prepaid interest at source (?) I think not. According to Lendy's missive:
SBL is for loans over term for the first 90 days (i.e. from -1 to -90 days, Lendy will service the interest). IA is for loans over term for the next 90 days (i.e. from -91 to -180 days, no interest is paid to investors - although they may receive that interest when the loan is repaid/recovered). IOA is for loans within term (non negative remaining term) because the interest is paid by lenders up front and is with SS. DEF is for loans more than 180 days over term. Not much is said about interest for defaulted loans.
Their statement from last month had different acronyms (TP and TPA instead of SBL and IA) but I think the terms introduced for the web site make more sense.
EDIT - Crossed with loads but particularly ilmoro .
They do make more sense, but now Ive got to relabel all the indicators on the updates list. Good job I didnt rewrite the FAQ in advance!
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star dust
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Post by star dust on Mar 1, 2017 9:24:02 GMT
The default page is currently stable but empty. I've put the entire loan list and their Saving Stream status codes into the post here, although I'm sure ilmoro will add to his first post soon enough. The Gloucestershire's were interesting I thought. Also INPL for the SM was turned off about 20 minutes ago. |
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SteveT
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Post by SteveT on Mar 1, 2017 9:25:25 GMT
savingstream, it would make things a little clearer if the Interest Status column displayed / included some colour coding, eg. IOA = green, SBL = yellow, IA = orange, DEF = red
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Mar 1, 2017 9:29:52 GMT
Also worth mentioning that the INPL has officially closed on the SM. Now if you go and try to buy loans with no money on your account, you will get told: "To invest in this loan, please fund your account." Problem is that SS does not seem to have improved on their funding general sloppiness. I have sent money on my account via Fast Payment this morning at 7.20 am and it has not been credited... In general I believe the removal of INPL will cause some lag on the actions an probably will remove some liquidity (so to the detriment also of sellers) on the long term I made a deposit early this morning and SS cleared it at 7:36am. I would have expected a FP made at 7:20am to clear at the same time.
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Post by geraldine1210 on Mar 1, 2017 9:36:41 GMT
Defaulted page now in action.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 1, 2017 9:39:01 GMT
The default page is currently stable but empty. I've put the entire loan list and their status into the post here, although I'm sure ilmoro will add to his first post soon enough. The Gloucestershire's were interesting I thought. Also INPL for the SM was turned off about 20 minutes ago. Yeah ... about 5 days ago, and now everyone's nicking my colour coding idea ... though I draw the line at purple 
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geoff
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Post by geoff on Mar 1, 2017 9:42:54 GMT
savingstream It would be handy to have the new Interest Status column on the "My Loans" page as well.
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moist
Member of DD Central
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Post by moist on Mar 1, 2017 9:59:43 GMT
just waiting for the IA loans that don't pay interest monthly to cause a stir amongst those who do not read updates!
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