twoheads
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Post by twoheads on Sept 4, 2017 9:06:16 GMT
EDIT (12/09/2017): The sales queue figures shown in 'My Loans -> Selling Loans' overview appear now to be the correct figures: they now include the 'Lendy' owned sales parts which have recently been given priority over the regular investors sales parts.
This may come as a shock to some as they will see, in some cases, very large increases in their sales queue positions.
ALSO: At least some of the so called 'black holes' in the sales queues for some loans have been cleared. I do not know if all 'black holes' have been cleared and I also do not know if the bug(s) in the software which caused them have been fixed - let's hope they have.
Bugs have appeared in the SM.
Today I put up for sale eight nine pieces of PBL167 totalling £934.55. I listed the parts in sequence, smallest to largest: £34.55, 2x£50, 4x£100 and 2x£200.
There is now £34.16 left on the SM but none of my parts have sold.
Furthermore, if I go to list any loan part from any loan, the sales queue shows the value of the listed loan part rather than the real sales queue figure.
Edit: The behaviour observed above (and struck out) has now changed. Now, there is a reasonable sales queue shown but, in some cases it is much larger than the total available on the SM. Example: DFL012 currently has £513 available on the SM but if I go to sell a part of DFL012 I see a sales queue of £5466.38.
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twoheads
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Post by twoheads on Sept 4, 2017 9:50:34 GMT
Annoyingly, the SM value for PBL167 has got stuck at £0.09 which (understandably) nobody wants to buy!
I decided to cancel the sale of the £34.55 part (all my listed loan parts were still shown as for sale with 0% sold); I received the following message:
While writing, the SM availability of PBL167 has finally reached zero (a*h kindly bought £0.01 and then the final £0.08). However, all of my eight nine loan parts are still not sold, all showing 0% sold.
Just when I thought my confidence in Lendy's IT trainee could not get any lower...
Paul64 , Lendy Support - hello again from your favourite (?) software tester. I presume, as usual, that you are aware of these issues and working towards a fix.
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Doc
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Post by Doc on Sept 4, 2017 10:24:20 GMT
I have the same problem with DFL12.
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warn
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Post by warn on Sept 4, 2017 11:26:01 GMT
PBL158 seems stuck too. I know for a fact there's at least a couple of grand for sale, but no availability on the SM.
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Post by retired2005 on Sept 4, 2017 12:29:55 GMT
Here is the text of a Private message I sent to Paul on this subject:
QUOTE:
Like many others I am losing confidence in the Lendy platform and , small as it is , this issue only adds to the problem. Particularly as Lendy seem unable to solve the problem.
Quote from the forum :
'This problem usually resolves itself once another seller comes along and puts their stuff on the market because that bumps your stuff forward and then the problem is transferred to them. After a few days LY will email you back to say they have fixed the problem but in reality they have probably done absolutely nothing.
I've given up reporting it to LY when this happens now'
..... and I've seen many, many similar comments reagrding this problem.
Could we have an HONEST answer .... is this reallly an insoluble problem which Lendy just ignore each time it comes up until it resolves itself?
UNQUOTE:
I had a reply from Paul saying he would pass my problem to support and as described above the problem 'went away' for me when someone else added their loan parts to the queue
Clearly Lendy can't or won't, fix this problem...... unless Paul would like to respond here with the honest answer I asked for....?
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twoheads
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Post by twoheads on Sept 4, 2017 13:15:02 GMT
Thanks retired2005, indeed my issue looks like another repeat of the 'invisible selling loan parts' problem.
This is the first time I've seen it. PBL167 seems to have an invisible sales queue of £1,134.56 in which I have £934.55 of my Lendy balance currently stuck. I would like to be able to invest this money in other loans.
Lendy Support, Paul64 - Please resolve negative balance of £934.55 by unsticking my selling loan parts and crediting my account balance accordingly.
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Post by Paul64 on Sept 4, 2017 13:52:40 GMT
Hi all, this is an ongoing glitch on the platform which we have been working with our third party web company to try and help resolve. We'll raise again, and look to get an update for the forum as soon as we can. Lendy Support |
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mary
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Post by mary on Sept 4, 2017 14:30:36 GMT
Hi all, this is an ongoing glitch on the platform which we have been working with our third party web company to try and help resolve. We'll raise again, and look to get an update for the forum as soon as we can. Lendy Support Similarly, I'm stuck with PLB167! Edit - now mine is showing as sold, many thanks!
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twoheads
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Post by twoheads on Sept 4, 2017 15:22:57 GMT
Similarly, I'm stuck with PLB167! Edit - now mine is showing as sold, many thanks! Mine too is now sold but that isn't because Lendy fixed it; it's simply because more stuff came up for sale and the queue shifted along enough.
There is still a £1134.56 'black hole' in the sales queue for PBL167.
I expect this 'third party' software has left an error within Lendy's own data which still needs to be adjusted. The error in the data may be caused by 'third party' software problems but the corrupted data will still need to be fixed.
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bernard
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Post by bernard on Sept 4, 2017 17:09:33 GMT
There seems to be other problems with SM sales. I have sold several loan parts today. The loan part shows as sold but there is no money credited to the account. So, the loan part disappears from asset list. No corresponding increase in cash balance......... Paul64 can you confirm you are aware and this is part of the same platform IT problem?? |
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username
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Post by username on Sept 4, 2017 17:48:07 GMT
There seems to be other problems with SM sales. I have sold several loan parts today. The loan part shows as sold but there is no money credited to the account. So, the loan part disappears from asset list. No corresponding increase in cash balance......... Paul64 can you confirm you are aware and this is part of the same platform IT problem?? This sort of software issue is extremely worrying. I'm currently stuck in PBL167 with same problem indicated above. There needs to be robust reconciliation processes applied to the software to prevent our money going walkies...
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hantsowl
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Post by hantsowl on Sept 4, 2017 17:52:00 GMT
Hi all, this is an ongoing glitch on the platform which we have been working with our third party web company to try and help resolve. We'll raise again, and look to get an update for the forum as soon as we can. Lendy Support I have DFL024 sitting at 100% sold in my selling loans but no money becoming available. Maybe this bug occurs when you sell when a few pence is already available. My £200 sale may have sold (say) £199.90 because 10p was on the queue already. So, that would leave me with 10p still to sell and will need to wait for someone to buy it. In this situation the status should NOT show 100% sold. Paul64
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Post by martin44 on Sept 4, 2017 19:17:32 GMT
Hi all, this is an ongoing glitch on the platform which we have been working with our third party web company to try and help resolve. We'll raise again, and look to get an update for the forum as soon as we can. Lendy Support May i suggest that you PM twoheads to try and resolve, he certainly seems far more clued up than your third party web company....... and NO i am not joking. Thanks.
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yorky
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Post by yorky on Sept 5, 2017 9:54:07 GMT
Can anyone explain why the SM shows £368 for sale and the loan queue says £2006 is this correct Thanks
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twoheads
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Post by twoheads on Sept 5, 2017 11:44:21 GMT
Can anyone explain why the SM shows £368 for sale and the loan queue says £2006 is this correct Thanks The loan sale queue should never exceed the total SM value. When it does, it is a symptom of a fault.
This usually indicates a black hole within a particular loan's sales whereby the queue seems to work but the amount available to buy (SM value) is lower than the total amount currently for sale (entire sales queue). What happens is that when the total available amount has been bought up, some of the 'for sale' stuff remains stuck in the sales queue. When more is listed for sale, the new stuff goes behind the stuck stuff and that stuck stuff can then be purchased. But the sales queue never empties.
This is currently the case with PBL167 which still has £1134.56 stuck in this situation (I just checked again).
Conversely, it is possible that the total sales queue is less than the SM value. This has often been the case recently where underwriters have contributed to an under funded loan or tranche. This is because the underwriters' money is included in the total SM value but has historically ranked behind the sales of regular investors. Hence the sales queue (regular investors' sales total) does not include the underwritten amount whereas the total on the SM does include the underwritten amount. Lendy have stated that this changed on September 1st and that underwritten amounts will in future rank ahead of regular investors. I have yet to see an instance where this has been applied.
I hope this goes some way to clearing things up.
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