twoheads
Member of DD Central
Programming
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Post by twoheads on Jul 26, 2017 11:08:34 GMT
Lendy Support , savingstream ,
Today I downloaded my loans and account stuff to update my spreadsheet.
It shows many problems with the web site that have appeared since I last did this on Friday 21st, last week.
The problems are all with the interest calculated on both the on-line 'my loans' pages and also the downloaded 'Export to Excel' CSV file.
1. Sold loan parts: Every Many loan parts I have owned for exactly one day are now showing zero interest. All loan parts with two or more days are okay.
2. Selling loan parts: I have 16 parts for sale in one loan. All interest calculated for these parts is completely wrong.
3. The total interest at the bottom of 'My Loans -> Sold Loan Parts' is much higher than it should be.
4. The total interest at the bottom of 'My Loans -> Live Loan Parts' is also way too high. The individual loan interest amounts are correct but the sum is wrong.
5. The interest for at least one of the loans 'My Loans -> Repaid Loan Parts' appears to include also the interest from a part that was sold prior to repayment.
I presume this is a work in progress.
I hope your calculations will be working properly again by next Tuesday.
EDIT - The totals errors have been fixed: the sub-totals and grand totals on the various 'My Loans' pages are now consistent and correct. I still have 34 sold loan parts with incorrect interest though.
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mrflush
Member of DD Central
This is not me
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Post by mrflush on Jul 27, 2017 7:03:11 GMT
Just to add to this, my interest totals looked reasonable yesterday morning but are obviously wrong this morning, so it's happened in the last 24 hours ish.
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guff
Posts: 730
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Post by guff on Jul 27, 2017 8:47:52 GMT
6. My Loans > Selling Loan Parts > {Select Loan} > {Sort by End Date} > Cancel sale: No pop up window to confirm and the sale is immediately cancelled.
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twoheads
Member of DD Central
Programming
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Post by twoheads on Jul 27, 2017 8:50:09 GMT
I've worked out one of the errors in Lendy's system.
The interest errors on some sold loan parts are due to Lendy deducting the interest for the selling period twice.
I have just sold some loan parts that took 23 days to sell. Put up for sale on 03/07, sold 26/07.
A typical example is a £100 part (12% PA) that I bought 02/03 and should pay 123 days interest (bought 02/03 until put up for sale on 03/07) which comes to £4.04. Note that the selling period is NOT included in this figure.
The interest they quote for that part is £3.29. That is the interest for 100 days; they have deducted the 23 day selling time.
All 16 loan parts that I put up for sale on 03/07 which sold on 26/07 show precisely 23 days interest less than they should.
However, this does not apply to more recent sales: I also put some other parts up for sale (different loans) on 09/07. These variously took 6, 9, 15 and 17 days to sell and all show the correct amount of interest.
I also have 31 historical loan parts which I held for one day only. Of these, 28 should receive a little interest but only 10 are showing greater than zero interest. For 18 of my one day loans, the interest is incorrectly calculated at zero (a huge total of £3.11 missing interest). I have no idea why some one day loan parts are incorrectly showing zero interest.
Still in error are the various sums at the bottom of each page in 'My Loans'. Also the total interest for each property in 'My Loans -> Repaid LoanParts' is incorrect.
EDIT - The totals errors have been fixed.
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twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
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Post by twoheads on Jul 27, 2017 10:35:52 GMT
More information on the incorrect figures on the various 'My Loans' pages:
Each property listed on each page has a total interest accrued for all loan parts in the property. This total used to be just the loan parts in the category selected: Live, Repaid, Selling and Sold.
Now, on every page, the total interest for each property is the total for all your loan parts for that property in all categories. Consequently if you have loan parts in a single property, some of which are Sold, some Selling and some Live, then the total interest displayed for that property on the Live, Selling and Sold pages is the same. This is wrong!
The grand total at the bottom seems to be the sum of the totals shown for each property. This no longer reflects the total interest from the selected category whereas, last week, it did.
EDIT - The totals errors have been fixed.
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twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
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Post by twoheads on Jul 27, 2017 14:27:36 GMT
Update:
The errors in the totals on the various 'My Loans' pages have been corrected in the last few hours.
There are still errors in the calculated interest on 34 of my sold loan parts.
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nick
Member of DD Central
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Post by nick on Jul 28, 2017 7:44:38 GMT
Update:
The errors in the totals on the various 'My Loans' pages have been corrected in the last few hours.
There are still errors in the calculated interest on 34 of my sold loan parts. That is very concerning. Is there a pattern/particular period that appears to be affected?
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nick
Member of DD Central
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Likes: 825
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Post by nick on Jul 28, 2017 8:16:57 GMT
I've worked out one of the errors in Lendy's system.
The interest errors on some sold loan parts are due to Lendy deducting the interest for the selling period twice.
I have just sold some loan parts that took 23 days to sell. Put up for sale on 03/07, sold 26/07.
A typical example is a £100 part (12% PA) that I bought 02/03 and should pay 123 days interest (bought 02/03 until put up for sale on 03/07) which comes to £4.04. Note that the selling period is NOT included in this figure.
The interest they quote for that part is £3.29. That is the interest for 100 days; they have deducted the 23 day selling time.
All 16 loan parts that I put up for sale on 03/07 which sold on 26/07 show precisely 23 days interest less than they should.
However, this does not apply to more recent sales: I also put some other parts up for sale (different loans) on 09/07. These variously took 6, 9, 15 and 17 days to sell and all show the correct amount of interest.
I also have 31 historical loan parts which I held for one day only. Of these, 28 should receive a little interest but only 10 are showing greater than zero interest. For 18 of my one day loans, the interest is incorrectly calculated at zero (a huge total of £3.11 missing interest). I have no idea why some one day loan parts are incorrectly showing zero interest.
Still in error are the various sums at the bottom of each page in 'My Loans'. Also the total interest for each property in 'My Loans -> Repaid LoanParts' is incorrect.
EDIT - The totals errors have been fixed.
I've just started checking my sales for this error. I'm currently reviewing my 'sold loanparts' tab and recalculating interest earnt on each individual loan part based on the start and end dates shown and comparing this against the stated interest. I assume the error is manifesting in thier interest calc and the loan start/end dates can be taken as accurate - is this where/how you identified the errors?
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twoheads
Member of DD Central
Programming
Posts: 1,089
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Post by twoheads on Jul 28, 2017 9:01:32 GMT
I've just started checking my sales for this error. I'm currently reviewing my 'sold loanparts' tab and recalculating interest earnt on each individual loan part based on the start and end dates shown and comparing this against the stated interest. I assume the error is manifesting in thier interest calc and the loan start/end dates can be taken as accurate - is this where/how you identified the errors? The interest shown online is calculated for each loan part and covers the entire life of the loan part.
The calculation is simply: NumberOfDays(EndDate - StartDate) / 365 * %PA / 100 * LoanPartValue
When I download my loans to excel - and I do this several times each month - this calculation has always precisely matched the interest quoted in the download.
This week, things changed. I have 34 significant mismatches.
16 of these are for PBL157 parts put up for sale on 03/07, which all sold 23 days later on 26/07. The mismatches appeared while the parts were still for sale and have remained after the sale completed. The calculated interest for these parts is 23 days short. Effectively, they're calculating interest as if I put the parts up for sale on 20/06 (23 days before I actually did). This clearly has something to do with the fact that they are now counting the time that loan parts are for sale. Note that I also sold (09/07) PBLs 150, 151, 152 which each took several days; these are correctly calculated. I believe that I was unlucky and, due to the timing of my sale, the PBL157 loan parts are all now incorrect in some way in the Lendy database.
The other 18 mismatches are all for long ago loan parts which I held for one day only. These are now incorrectly showing zero interest. I have ten one day loan parts are still showing the correct, non zero interest (and three which correctly show zero, but these three tell us nothing). I can see no pattern to the zeros. All sales completed on the same day. I'd be willing to make a small wager that the zeros were held for less than 24 hours and the positives for greater than 24 hours but I cannot check this.
What worries me is the PBL157 loan parts which show incorrectly. There is something wrong in their data. On Monday I am due two days interest on all of these parts and I may not receive it.
In future, to calculate our expected interest, we will have to be able to see the amount of 'for sale' time accumulated on each loan part. And we will also have to know how much of that 'for sale' time applies to the current month and, if a loan is up for sale, the 'For sale' time should not include the current selling period, it should be incremented at the time the sale is cancelled.
I hope the Lendy IT crew have thought this through... somehow, I think not.
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bloodycat
Member of DD Central
Posts: 184
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Post by bloodycat on Jul 28, 2017 9:14:44 GMT
Looks like they've broken it completely now.
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Post by bonfemme on Jul 28, 2017 9:16:20 GMT
when I try to log on I get
Red Hat Enterprise Linux Test Page  ?
Edit: seems ok now
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joe91
Member of DD Central
Posts: 53
Likes: 62
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Post by joe91 on Jul 28, 2017 9:21:48 GMT
Worryingly, I was getting an internal Admin page, with links to things like, 'Month End Processing', 'Investor Search' etc. None of them seemed to do anything fortunately. I didn't try 'Month End Processing', just in case!
Seems to be fixed now, though I've not checked the interest problem (if there is one?).
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Post by savingstream on Jul 28, 2017 10:04:44 GMT
This was a back-end error where the home page of our admin screen simply became visible for a few seconds. We can confirm there was no investor sensitive data displayed, nor could any investor searches or admin reporting functionality actually be performed.
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beechside
Member of DD Central
Posts: 152
Likes: 197
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Post by beechside on Jul 28, 2017 10:25:09 GMT
This was a back-end error <<snip>> Here we go again. Hide the real cause of the problem: management failure. How can we have confidence in a platform that clearly has very poor management processes? You could blame a poor programmer but it's still a pretty shoddy organisation that doesn't have proper testing and signoff procedures. Proper testing environment? Robust migration? Crikey, you were lucky that the links didn't work. And how long before you found out about the problem? Surely the person making the changes should have checked and not left it up for 15 minutes or so. Fail fast is not an excuse for shoddy systems.
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nick
Member of DD Central
Posts: 1,056
Likes: 825
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Post by nick on Jul 28, 2017 11:33:23 GMT
I've just started checking my sales for this error. I'm currently reviewing my 'sold loanparts' tab and recalculating interest earnt on each individual loan part based on the start and end dates shown and comparing this against the stated interest. I assume the error is manifesting in thier interest calc and the loan start/end dates can be taken as accurate - is this where/how you identified the errors? The interest shown online is calculated for each loan part and covers the entire life of the loan part.
The calculation is simply: NumberOfDays(EndDate - StartDate) / 365 * %PA / 100 * LoanPartValue
When I download my loans to excel - and I do this several times each month - this calculation has always precisely matched the interest quoted in the download.
This week, things changed. I have 34 significant mismatches.
16 of these are for PBL157 parts put up for sale on 03/07, which all sold 23 days later on 26/07. The mismatches appeared while the parts were still for sale and have remained after the sale completed. The calculated interest for these parts is 23 days short. Effectively, they're calculating interest as if I put the parts up for sale on 20/06 (23 days before I actually did). This clearly has something to do with the fact that they are now counting the time that loan parts are for sale. Note that I also sold (09/07) PBLs 150, 151, 152 which each took several days; these are correctly calculated. I believe that I was unlucky and, due to the timing of my sale, the PBL157 loan parts are all now incorrect in some way in the Lendy database.
The other 18 mismatches are all for long ago loan parts which I held for one day only. These are now incorrectly showing zero interest. I have ten one day loan parts are still showing the correct, non zero interest (and three which correctly show zero, but these three tell us nothing). I can see no pattern to the zeros. All sales completed on the same day. I'd be willing to make a small wager that the zeros were held for less than 24 hours and the positives for greater than 24 hours but I cannot check this.
What worries me is the PBL157 loan parts which show incorrectly. There is something wrong in their data. On Monday I am due two days interest on all of these parts and I may not receive it.
In future, to calculate our expected interest, we will have to be able to see the amount of 'for sale' time accumulated on each loan part. And we will also have to know how much of that 'for sale' time applies to the current month and, if a loan is up for sale, the 'For sale' time should not include the current selling period, it should be incremented at the time the sale is cancelled.
I hope the Lendy IT crew have thought this through... somehow, I think not.
I'm finding the same type of errors! I have several hundred instances where I've held a loan part 1 day but have not been attributed any interest. Luckily the monetary value is not material, so its annoying but not that alarming. However, more concerning is that are errors affecting all my sales of PBL152 during July with interest showing significantly lower than what it should be. I have been able to check to see if the underlying cause is the same as you, but all these loan parts were on sale for several days/weeks. I've been unable to export an excel file of my loan parts so I'm still in the process of cutting and pasting the data into excel and have to check my SIPP and wife's account which is making this a major time burgle. savingstream , Lendy Support , Paul64 - given this does not appear to be an isolated error I trust you are investigating the cause and looking to remedy the issue(s) as a proirity, hopefully before the next interest payment run.
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