As per request from many of our investors, we are now also adding two more rows to the Recovery Statistics table, that highlight the amount that has been recovered so far.
The first new row will show the amount of principal that has been recovered after the loan defaulted and the second one shows the amount of interest and late charges received by the investor.
This will add another layer you can use to gauge how effective the recovery process for your investments has been and how far along they are in the progress.
this is very welcome.
Question:
Does the row “Amount of Interest and Late Charges recovered” only portray the interest and late Charges that were paid by the borrower AFTER the loan defaulted? Or does it include also the payments of interest and late charges BEFORE the loan defaulted? If the latter is correct, then the row header should be renamed to Amount of Interest and Late Charces reveived until today.
Both rows show amounts received after default as in during the recovery process.
This will be a great improvement. Good to see a platform change which will benefit existing investors and save their time.
Thankyou
Very welcome addition!
Great to see this, Taavi. About the example screenshot for the last two rows in Stage 5. I assume this is only an example? As rows 2 and 4 correspond (just the same as rows 3 and 5), the amount in rows 4 and 5 should each be always smaller or the same as the amount in the corresponding row, right?
It seems odd in the example that 454 EUR principal have been recovered while the overdue principal is just 15 Euros. Or am I missing something here?
The 15 Euro Principal overdue is the amount that could not be recovered and is lost. If this figure is 0 then all overdue has been recovered.
YaCop pointed out correctly that as funds are recovered, then the amounts will move from rows 2 and 3 into rows 4 and 5 accordingly. If for example all principal is recovered, then Principal Overdue row will show 0 and all the recovered amount will be shown on row 4.
Hello Taavi,
I would add the total of all Stages per Row.
I would add as a separate row the received interest and late charges BEFORE the loan defaulted as these figure will also make the lost principal look smaller.
Both of my suggestions may increase the transparancy and usability of the data provided.
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