Author Topic: What's the difference between "Outstanding Principal" and "Principal Balance"?  (Read 3897 times)

klm987

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Looking at a Loan Performance page, in the upper right hand box is something called "Outstanding Principal".

Down in the Payment History list, there's a column called "Principal Balance".

They don't always match.

I find this very confusing.


klm987

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After a little further investigation, it looks to me like the "Principal Balance" column is accumulating  rounding errors over time.

Newer notes with only 1 or 2 payments, these numbers are the same.

Older notes with more than 2 payments, the numbers often no longer match.

After 3 or 4 payments they might be different by just a penny.  But some of my older notes they're off by 10 or 15 cents.

Not sure if this "Principal Balance" number is used anywhere outside of this one page though, so it might not be important... but little errors like these always make me wonder how good the rest of their system is at keeping track of things.
« Last Edit: June 16, 2011, 11:35:07 PM by mannypeddy »

canamoney

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Can you shoot a link out to review?  I don't see the same.

Here's a screenshot of one of my notes.


klm987

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I've got tons of them. For example:

https://www.lendingclub.com/account/loanPerf.action?loan_id=361090&order_id=1485678
Outstanding Principal    $4.42
Principal Balance $4.20

https://www.lendingclub.com/account/loanPerf.action?loan_id=364268&order_id=1537696
Outstanding Principal    $9.56
Principal Balance $9.34

https://www.lendingclub.com/account/loanPerf.action?loan_id=406383&order_id=442323
Outstanding Principal    $19.05
Principal Balance $18.95

https://www.lendingclub.com/account/loanPerf.action?loan_id=415292&order_id=452758
Outstanding Principal    $10.13
Principal Balance $9.99


Are you seeing the same thing?

canamoney

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I see it, too, my only "guess" is fractions of cents are affecting your overall amounts.

I wouldn't have expected such a large disparity, though.


 

anything