aju
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Post by aju on Apr 26, 2017 15:28:17 GMT
You an me both - I changed what I was looking at I was mistakenly looking in all time rather than current. I changed my comments that are similar to yours on the 4 months issue. It could be down to not all lenders on the loan having received a payment this "round", as per your comment yesterday? So might still be accurate Edit: Or they might just be a couple of days late actually defaulting them! I have nobody more than a tiny bit over the 4 month mark that are not defaulted yet. To be honest I wouldn't normally be this interested in defaults until the whole thing had run for at least a year. I was taken by the notion that I could see developing defaults though and I have amended my spreadsheets to pick this up and the new defaults field, well mine anyway, the wifes will have to wait until I have a bit of slack. I have spreadsheets coming out of my ear now that zopa is not that useful reporting wise but to be honest at this granularity I prefer to treat this stuff more holistically. The fact that my maturing Plus book is nearing higher interest rates for defaults is a bit of a worry and it would be interesting whether a default is still considered in the loan rate averaging algorithms.
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marie
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Post by marie on Apr 28, 2017 6:35:17 GMT
yeah I noticed that in the statements screen after I'd already created an excel spreadsheet that loaded all the statements from when I started and then searched for the relevant name of a borrower etc etc etc. It basically does what the old zopa reports used to do but its not able to say what was expected to be paid on any given month just what was paid and when, taking its data from the statements csv's. I also noticed that Zopa added the default date in the main loanbooks that is useful but squiffed ( a technical term) all my excel loaders but that's another story. I guess my moaning about the comments field not always having the data for default date was eventually taken on board. Shame they couldn't have moved it to last field to prevent mucking up the excel loaders but at least its a start. You'll want to adjust your spreadsheet again! Two new columns today, replacing the old [Rate] column: [Investor rate] and [Borrower rate].
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aju
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Post by aju on Apr 28, 2017 18:35:38 GMT
yeah I noticed that in the statements screen after I'd already created an excel spreadsheet that loaded all the statements from when I started and then searched for the relevant name of a borrower etc etc etc. It basically does what the old zopa reports used to do but its not able to say what was expected to be paid on any given month just what was paid and when, taking its data from the statements csv's. I also noticed that Zopa added the default date in the main loanbooks that is useful but squiffed ( a technical term) all my excel loaders but that's another story. I guess my moaning about the comments field not always having the data for default date was eventually taken on board. Shame they couldn't have moved it to last field to prevent mucking up the excel loaders but at least its a start. You'll want to adjust your spreadsheet again! Two new columns today, replacing the old [Rate] column: [Investor rate] and [Borrower rate]. Sh*t, thanks for the steer, i'll catch up soon ;-)
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Post by blanik on Apr 29, 2017 1:02:32 GMT
April a much better month - no defaults on my account, xirr for 2017 is now 3.9%
Mrs B also had no new defaults so her xirr is 7.2%
So things are starting to improve.
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Post by newlender on Apr 29, 2017 4:17:15 GMT
I suppose it depends on the luck of the draw. Almost half of my interest in April has gone in defaults. (Interest £86, defaults £40 as of this morning). Probably just bad luck but I'm keeping a close eye on things. I'm 50% in Z+ and roughly 25% each in the other two.
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Post by nickdavies on Apr 29, 2017 10:18:11 GMT
£267 in interest, £289 in defaults. First time ever I've made a loss. I sometimes get the feeling Zopa is seen as an easy touch, I've got a number of loans which have defaulted without a penny paid back - the punters have taken the money and ran.
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ozboy
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Post by ozboy on Apr 29, 2017 13:29:44 GMT
£267 in interest, £289 in defaults. First time ever I've made a loss. I sometimes get the feeling Zopa is seen as an easy touch, I've got a number of loans which have defaulted without a penny paid back - the punters have taken the money and ran. Yep, ISTM that Zopa do very little/token gestures to chase late/no payers, and also that "the word" has been out for some time now among certain Borrowers. IMHO expect increasing Defaults, which is why I have been bleeding my Zopa account down for a few years now. Far better interest rates available at only slightly higher risk on certain other Platforms, who only loan against good securities.
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angrysaveruk
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Post by angrysaveruk on Apr 30, 2017 11:55:10 GMT
£267 in interest, £289 in defaults. First time ever I've made a loss. I sometimes get the feeling Zopa is seen as an easy touch, I've got a number of loans which have defaulted without a penny paid back - the punters have taken the money and ran. Yep, ISTM that Zopa do very little/token gestures to chase late/no payers, and also that "the word" has been out for some time now among certain Borrowers. IMHO expect increasing Defaults, which is why I have been bleeding my Zopa account down for a few years now. Far better interest rates available at only slightly higher risk on certain other Platforms, who only loan against good securities. Although I have made quite a bit of money with Zopa I am going to run down my investments over the next year, they need to get alot tougher with scammers or they are going to attract the wrong type of borrowers in droves. If someone takes out a loan with them and doesnt repay anything they should have a policy of taking them to court. I was told their recovery rate is 15% - this sounds pretty low to me. Does anyone know how this compares to personal loans given out by high street banks?
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Greenwood2
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Post by Greenwood2 on Apr 30, 2017 14:39:31 GMT
You don't have to invest in plus. If you don't want to be exposed to losses go for Classic.
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Post by blanik on May 1, 2017 8:01:54 GMT
I suppose it depends on the luck of the draw. Almost half of my interest in April has gone in defaults. (Interest £86, defaults £40 as of this morning). Probably just bad luck but I'm keeping a close eye on things. I'm 50% in Z+ and roughly 25% each in the other two. I would expect to lose about 40% of my interest in defaults each month. That would bring the gross of about 10% down to the expected net of about 6%. so your figures for this month are about average.
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ashtondav
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Post by ashtondav on May 1, 2017 8:35:28 GMT
I suppose it depends on the luck of the draw. Almost half of my interest in April has gone in defaults. (Interest £86, defaults £40 as of this morning). Probably just bad luck but I'm keeping a close eye on things. I'm 50% in Z+ and roughly 25% each in the other two. I would expect to lose about 40% of my interest in defaults each month. That would bring the gross of about 10% down to the expected net of about 6%. so your figures for this month are about average. Yes, that sounds about right to me. What I don't understand is why Zopa doesn't get into other products such as credit cards or secured lending? Instead they're opening a bank, presumably to do just that. Z has been around 12 years now and perhaps the p2p market is just not big enough to build a viable business. Will Z still be in the p2p space in five years time? I have my doubts.
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ozboy
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Post by ozboy on May 1, 2017 11:49:26 GMT
Yep, ISTM that Zopa do very little/token gestures to chase late/no payers, and also that "the word" has been out for some time now among certain Borrowers. IMHO expect increasing Defaults, which is why I have been bleeding my Zopa account down for a few years now. Far better interest rates available at only slightly higher risk on certain other Platforms, who only loan against good securities. Although I have made quite a bit of money with Zopa I am going to run down my investments over the next year, they need to get alot tougher with scammers or they are going to attract the wrong type of borrowers in droves. If someone takes out a loan with them and doesnt repay anything they should have a policy of taking them to court. I was told their recovery rate is 15% - this sounds pretty low to me. Does anyone know how this compares to personal loans given out by high street banks? They already have, and are, IMHO.
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ashtondav
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Post by ashtondav on May 1, 2017 14:55:22 GMT
Actually, based on recent experience of various contacts applying to ZOPA for a loan, they are still being quite selective. Certainly my experience is that I have obtained the rates expected in both classic and plus. And if their stats can be believed (?) 92% of lenders get the rates they anticipate.
Of course, to grow, they have taken on riskier borrowers with lower credit ratings - however this is not a problem as long as it is priced into the loan. In any case 50% of applicants are still rejected on application.
I guess we'll see in the next recession's low tide who has been swimming with no clothes....
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angrysaveruk
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Post by angrysaveruk on May 2, 2017 9:08:28 GMT
Actually, based on recent experience of various contacts applying to ZOPA for a loan, they are still being quite selective. Certainly my experience is that I have obtained the rates expected in both classic and plus. And if their stats can be believed (?) 92% of lenders get the rates they anticipate. Of course, to grow, they have taken on riskier borrowers with lower credit ratings - however this is not a problem as long as it is priced into the loan. In any case 50% of applicants are still rejected on application. I guess we'll see in the next recession's low tide who has been swimming with no clothes.... Your contacts are probably honest people who are telling the truth on their application. The fact that some people are taking out loans and then defaulting without paying anything suggests to me there are some scam artists types getting through the application system. The only way to deal with this is to come down on the people doing this to scare the other rats off.
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Greenwood2
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Post by Greenwood2 on May 2, 2017 13:05:46 GMT
I believe Zopa do prosecute if the loan application is found to be fraudulent. I think some defaults on plus have also been paid back to lenders because applications were fraudulent.
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