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Post by scerbera on Dec 5, 2017 11:23:18 GMT
I have a loan part for sale in dfl 12. it is 86% sold, but is 33k back in sale queue. How is this even possible?
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seeingred
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Post by seeingred on Dec 5, 2017 12:00:09 GMT
I believe that unsold loan parts from lendy are placed at the front of the existing queue. This is to keep things fair.  |
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Post by loftankerman on Dec 5, 2017 12:14:13 GMT
Having decided on an exit from Lendy some time ago, I haven't bought anything for months. As a consequence I haven't even bothered to try and get my head round all the smoke, mirrors and arbitrary and conflicting 'rules' that are applied. However, this sounds like queue jumping, where Lendy's stuff goes to the head of the queue, irrespective of who was previously there and now presumably, at whatever stage of the sale their loan parts were in.
This constant rule juggling to achieve the desired Lendy outcome reminds me of a lecturer I had almost 60 years ago who referred to 'Cannings Variable Constant'. In general, it was whatever mathematical adjustment was needed to achieve the desired outcome or the result as described in the Answers section at the back of the book.
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webwizard
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Post by webwizard on Dec 5, 2017 17:02:17 GMT
I have a loan part for sale in dfl 12. it is 86% sold, but is 33k back in sale queue. How is this even possible? This should only happen if another tranche is offered and does not completely sell out before joining the rest of the loan. Once joined together, the remaining tranche is ordered ahead of the queue for new investment on the SM. In the case of DFL012 there was a recent tranche and not all of it must have sold and is therefore ahead of your part sold loan.
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Post by skint4achange on Dec 5, 2017 17:16:04 GMT
This to me is wrong. What should happen is that if they put their loan part onto the SM, if the loan part enters the SM in the middle of an investors loan part that has already been part sold, that loan part should be severed and the unsold part considered as a separate loan part for sale.
At least in that way you would not be stuck with a half sold loan part. Could this be done Lendy Support ?
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warn
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Post by warn on Dec 5, 2017 17:16:07 GMT
Yes, that certainly seems to be how it works. And there are in truth good reasons for unfilled tranches to take precedence over SM reselling, to improve the chances that a project can be financed to completion. However, where the queue-leading loan part is semi-sold, as in scerbera 's case, it would be kind of Lendy to split the part and pay the lender the amount that has been sold, before leapfrogging the queue with its tranche funds. Though that would imply someone would have to change the code correctly, so maybe we should be careful what we wish for. EDIT: crossed with skint4achange. Great minds... |
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Post by skint4achange on Dec 5, 2017 17:23:50 GMT
Yes, that certainly seems to be how it works. And there are in truth good reasons for unfilled tranches to take precedence over SM reselling, to improve the chances that a project can be financed to completion. However, where the queue-leading loan part is semi-sold, as in scerbera 's case, it would be kind of Lendy to split the part and pay the lender the amount that has been sold, before leapfrogging the queue with its tranche funds. Though that would imply someone would have to change the code correctly, so maybe we should be careful what we wish for. EDIT: crossed with skint4achange . Great minds...: Not sure about that comment, but thanks anyway!! 
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Liz
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Post by Liz on Dec 5, 2017 17:55:37 GMT
Yes, that certainly seems to be how it works. And there are in truth good reasons for unfilled tranches to take precedence over SM reselling, to improve the chances that a project can be financed to completion. However, where the queue-leading loan part is semi-sold, as in scerbera 's case, it would be kind of Lendy to split the part and pay the lender the amount that has been sold, before leapfrogging the queue with its tranche funds. Though that would imply someone would have to change the code correctly, so maybe we should be careful what we wish for. EDIT: crossed with skint4achange . Great minds...: Not sure about that comment, but thanks anyway!! That's what lemming 1 said to lemming 2
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mikes1531
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Post by mikes1531 on Dec 10, 2017 19:06:30 GMT
IMHO, a better way to deal with this situation would be to put the Lendy parts in the queue immediately behind the semi-sold part. The "you've started, so we'll let you continue" approach.
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southport
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Post by southport on Dec 11, 2017 11:15:21 GMT
IMHO, a better way to deal with this situation would be to put the Lendy parts in the queue immediately behind the semi-sold part. The "you've started, so we'll let you continue" approach. Or, allow you to cancel partialy sold loan parts?
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Post by skint4achange on Dec 11, 2017 11:19:20 GMT
IMHO, a better way to deal with this situation would be to put the Lendy parts in the queue immediately behind the semi-sold part. The "you've started, so we'll let you continue" approach. Or, allow you to cancel partialy sold loan parts? Allowing you to cancel partially sold loan parts would (Could) create a nightmare scenario at some point or other!!
Imagine that you have a loan part for sale and someone has purchased £2k of it. After 2 days, before you have completed the sale of your loan part, the other person sells £1k of the loan part they purchased from you. All of a sudden you cancel your loan part sale, where does that leave the other 2 investors??
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southport
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Post by southport on Dec 11, 2017 11:21:43 GMT
Or, allow you to cancel partialy sold loan parts? Allowing you to cancel partially sold loan parts would (Could) create a nightmare scenario at some point or other!!
Imagine that you have a loan part for sale and someone has purchased £2k of it. After 2 days, before you have completed the sale of your loan part, the other person sells £1k of the loan part they purchased from you. All of a sudden you cancel your loan part sale, where does that leave the other 2 investors??
I was thinking of doing the same as on COL where you can cancel at any time but what is sold is sold.
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Post by skint4achange on Dec 11, 2017 11:26:44 GMT
Yes, that certainly seems to be how it works. And there are in truth good reasons for unfilled tranches to take precedence over SM reselling, to improve the chances that a project can be financed to completion. However, where the queue-leading loan part is semi-sold, as in scerbera 's case, it would be kind of Lendy to split the part and pay the lender the amount that has been sold, before leapfrogging the queue with its tranche funds. Though that would imply someone would have to change the code correctly, so maybe we should be careful what we wish for. EDIT: crossed with skint4achange . Great minds...: Not sure about that comment, but thanks anyway!! Yes, this is what we said should happen before. The same theory, but for a different reason.
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