Mr_N
Posts: 222
Likes: 225
|
Post by Mr_N on Jan 7, 2019 19:24:31 GMT
No, they stopped the investor roundups a while back now. The last one said that they were going to stop them and instead focus on their internal situation so that they can "come back bigger and stronger" at an unspecified future date. They were bi-weekly, then monthly, and now nothing at all. I’m sorry I must have misunderstood...I did still think we would get the monthly roundup as we did in December..someone posted last week that this months would be today You're confusing the investor roundup with the "recent updates" which appear in each loan's history. It's now the 7th January and all but one loan has received no updates since the start of December. We've all come to expect that there's no reliability or consistency with Lendy whatsoever, and may well call in the administrators at any moment due to their abysmal unprofessionalism and lack of communication or the slightest hint of transparency. In short - they make it up as they go along, and are perfectly happy behaving like that. There's no chance of any real change while Liam is plowing the Titanic into an icefield.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330 
Likes: 11,549
|
Post by ilmoro on Jan 7, 2019 19:59:41 GMT
I’m sorry I must have misunderstood...I did still think we would get the monthly roundup as we did in December..someone posted last week that this months would be today You're confusing the investor roundup with the "recent updates" which appear in each loan's history. It's now the 7th January and all but one loan has received no updates since the start of December. We've all come to expect that there's no reliability or consistency with Lendy whatsoever, and may well call in the administrators at any moment due to their abysmal unprofessionalism and lack of communication or the slightest hint of transparency. In short - they make it up as they go along, and are perfectly happy behaving like that. There's no chance of any real change while Liam is plowing the Titanic into an icefield. There is a comment over the road that implies that the next update will not be until end of month.
|
|
Mr_N
Posts: 222
Likes: 225
|
Post by Mr_N on Jan 7, 2019 20:19:46 GMT
You're confusing the investor roundup with the "recent updates" which appear in each loan's history. It's now the 7th January and all but one loan has received no updates since the start of December. We've all come to expect that there's no reliability or consistency with Lendy whatsoever, and may well call in the administrators at any moment due to their abysmal unprofessionalism and lack of communication or the slightest hint of transparency. In short - they make it up as they go along, and are perfectly happy behaving like that. There's no chance of any real change while Liam is plowing the Titanic into an icefield. There is a comment over the road that implies that the next update will not be until end of month. I've no idea what that means.
|
|
jsmithe
Member of DD Central
Posts: 74
Likes: 22
|
Post by jsmithe on Jan 7, 2019 21:52:12 GMT
The word is that an update will be out this week. You're confusing the investor roundup with the "recent updates" which appear in each loan's history. It's now the 7th January and all but one loan has received no updates since the start of December. We've all come to expect that there's no reliability or consistency with Lendy whatsoever, and may well call in the administrators at any moment due to their abysmal unprofessionalism and lack of communication or the slightest hint of transparency. In short - they make it up as they go along, and are perfectly happy behaving like that. There's no chance of any real change while Liam is plowing the Titanic into an icefield. There is a comment over the road that implies that the next update will not be until end of month. |
|
dApps
Posts: 91
Likes: 80
|
Post by dApps on Jan 7, 2019 23:15:43 GMT
I’m sorry I must have misunderstood...I did still think we would get the monthly roundup as we did in December..someone posted last week that this months would be today You're confusing the investor roundup with the "recent updates" which appear in each loan's history. It's now the 7th January and all but one loan has received no updates since the start of December. We've all come to expect that there's no reliability or consistency with Lendy whatsoever, and may well call in the administrators at any moment due to their abysmal unprofessionalism and lack of communication or the slightest hint of transparency. In short - they make it up as they go along, and are perfectly happy behaving like that. There's no chance of any real change while Liam is plowing the Titanic into an icefield. We all have, have we? I don't recall my giving you permission to speak on my behalf. Turn it down a notch or seven please, or that drum you insist on banging will be worn out before the grand finale.
|
|
Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
|
Post by Godanubis on Jan 8, 2019 0:43:57 GMT
You're confusing the investor roundup with the "recent updates" which appear in each loan's history. It's now the 7th January and all but one loan has received no updates since the start of December. We've all come to expect that there's no reliability or consistency with Lendy whatsoever, and may well call in the administrators at any moment due to their abysmal unprofessionalism and lack of communication or the slightest hint of transparency. In short - they make it up as they go along, and are perfectly happy behaving like that. There's no chance of any real change while Liam is plowing the Titanic into an icefield. We all have, have we? I don't recall my giving you permission to speak on my behalf. Turn it down a notch or seven please, or that drum you insist on banging will be worn out before the grand finale. Mr_n was not speaking on your behalf he was assuming given the facts which are irrefutable any reasonably intelligent member of the forum would have the same expectations. Ie.( There will be no reliability or consistency) This hopefully is being addressed for 2019 We are all now aware of your position and will make the corresponding adjustments so you can keep up. Everyone has the right to put their point. Some may feel more agreeved than others and put their point more strongly than others and more often. “The only thing necessary for evil to triumph is for good men to do nothing “ This is not parliament where we try to score points at others expense. We read assimilate and if required give our considered opinions in a thoughtful and succinct manner.
|
|
Mr_N
Posts: 222
Likes: 225
|
Post by Mr_N on Jan 8, 2019 5:36:43 GMT
No loan updates since the 3rd December (aside from a new suspension), and the word on the grapevine is nothing will be forthcoming until next month. Remember folks...
"Whilst improving the performance of recoveries is a priority for Lendy, we are also looking to enhance the quality the communications we provide to investors, following the concerns you have raised"
That was also over a month ago now, they must either still be "looking", or believe that they have already satisfied their enhanced targets. Maybe that "webinar" is what they were referring to.
What people really want to see in updates is an honest and frank report on each loan each month. If there has been nothing new to report then Lendy should state exactly what they have attempted to do, but failed at since the previous month. Everyone is fed up with waffle in updates with nonsense like a child throwing words into a thesaurus to try and pad out their essay to hit their word target, or an estate agent trying to spin a dosshouse into a family home.
If there's been no substantial update since the previous month, why? Did they assign a staff member to work on it for an afternoon? What did they actually do during that afternoon? What barriers were they hitting? Who did they speak to, on how many occasions, and on what subjects? A summary of their conversations? Did they try to call the borrower five times and get only an answerphone? What other times did they try to call or write to the borrower?
And that's just when there's been no actual progress, and that kind of update should be the vast minority of monthly updates. For everything else where there is actual progress being made there should be an equal level of detail.
It's not as if Lendy are being forced to write to each lender individually, print out the letters and post them, all they need do is the above, then everyone can see exactly what they are doing as our agents, rather than ignoring us with utter contempt with this completely unnecessary level of secrecy surrounding their dealings of OUR investments. Anything we know the borrower will already know, but that absolutely has to be a two way street. Lendy can not claim that anything other than the absolute minimum of detail is going to prejudice ongoing action, it has to stop.
I manage a team of staff and we expect the above kind of reports to be entered into our system on a daily basis, so there is a continual record of who's spoken to who, what's been discussed, and what the next steps are likely to be. Sure, they're not customer facing records, but if anyone in our company took a month to provide a paragraph of text for a few dozen accounts with the same kind of waffle that Lendy provide to us, they wouldn't be working in our company anymore.
We find ourselves 8 days into the month and Lendy have gotten off on the wrong foot again by not providing any updates at all this month, having already canceled the investor roundup too. One would have thought a New Year would be a good opportunity to turn over a new leaf and surprise us all with the brand new fully transparent Lendy eager to engage with the people who have kept them in employment for several years, but instead they just double down on ambiguity and being elusive.
What the hell have they been doing since the 3rd December causing them to not provide any updates until February?
I'm torn between the cause being either utter incompetence, or we're close to the end and they know it.
|
|
|
|
Post by charliebrown on Jan 8, 2019 5:54:26 GMT
No loan updates since the 3rd December, and the word on the grapevine is nothing will be forthcoming until next month. Remember folks... "Whilst improving the performance of recoveries is a priority for Lendy, we are also looking to enhance the quality the communications we provide to investors, following the concerns you have raised"That was also over a month ago now, they must either still be "looking". Where did you hear that there will be no updates until next month, Mr_N? i personally (no, I don’t speak for everyone) am glad that the investor roundup has gone away. It was a truly awful read and a worthless piece of self-indulgent propaganda. However, the least they could do is give us a quick and honest update once per month on the first working day of the month; why is this too much to ask. Given that I now have 24 loans in Default I expect an update AT LEAST once per month telling me what they’re doing about it. Through my eyes as a lender (obviously I don’t know what goes on behind the scenes) Lendy get worse and worse by the day, they appear to have just given up. Very sad.
|
|
Mr_N
Posts: 222
Likes: 225
|
Post by Mr_N on Jan 8, 2019 6:13:00 GMT
charliebrown Sorry, I added a bunch of stuff to my comment while you were replying to it, I didn't mean to steal your thunder, but yes the sentiment is the same.
|
|
|
|
Post by picanto on Jan 9, 2019 15:22:56 GMT
I misread the post Lendy put on their news section about the updates for December being posted as 7th January, after reading it again it states "after 7th January" but doesn't actually specify a date. Although I would have expected them to be be nearing completion by now?
|
|
|
|
Post by charliebrown on Jan 9, 2019 19:19:17 GMT
I misread the post Lendy put on their news section about the updates for December being posted as 7th January, after reading it again it states " after 7th January" but doesn't actually specify a date. Although I would have expected them to be be nearing completion by now? “After 7th January” is Lendy all over. No commitment to do anything they don’t want to do. To be honest they could have equally said “on 7th January” and then just not bothered to release it on the 7th and none of us would have been surprised.
|
|
mjc
Member of DD Central
Posts: 342
Likes: 425
|
Post by mjc on Jan 10, 2019 7:22:04 GMT
What’s the point of engaging an agent, that dictates the terms, does not do what the agent is employed to do, keep the Principal informed, nor pay the promised 10% to 12% increase etc etc?
|
|
webwizard
Member of DD Central
Posts: 157
Likes: 145
|
Post by webwizard on Jan 10, 2019 8:40:12 GMT
I misread the post Lendy put on their news section about the updates for December being posted as 7th January, after reading it again it states " after 7th January" but doesn't actually specify a date. Although I would have expected them to be be nearing completion by now? “After 7th January” is Lendy all over. No commitment to do anything they don’t want to do. To be honest they could have equally said “on 7th January” and then just not bothered to release it on the 7th and none of us would have been surprised. So on the positive side, maybe they are waiting for some good news of a big repayment, or a group of flat owners confirming an offer to buy the freehold, or a long running saga has completed.... On the other side, maybe they are delaying the relay of really bad news.... and it is the same old, same old...
|
|
|
|
Post by loftankerman on Jan 10, 2019 9:18:51 GMT
Some folk just don’t understand how the inner wheels of business turn...
Dear Diary:
7th Jan. First day back after the holidays. Still hung over and couldn’t face a day at the office. Tried to phone in sick but it kept replying with the weekend ‘closed until Monday’ response. Stayed in bed.
8th Jan. Made it in around 10 this morning. Shouldn’t have bothered. A couple of weeks switched off has done the server no good. Looks like a hard drive has seized up. Someone with a screwdriver turned up around 4 in the afternoon after the guy whose job it is to kick it had given up. It gave us a long lunch down the pub though, feel as though we are getting back in the groove.
9th Jan. Another wasted day of ‘no progress’ meetings and pep talks. Tried to get some stuff pulled together for the Monthly BS. Gave up after a bit and gave CV another polish then had a quick online chat with Kylie from the agency. Looks like things might be picking up a bit out there.
|
|
|
|
Post by GSV3MIaC on Jan 10, 2019 10:29:24 GMT
I misread the post Lendy put on their news section about the updates for December being posted as 7th January, after reading it again it states " after 7th January" but doesn't actually specify a date. Although I would have expected them to be be nearing completion by now?
Sadly 'after January 7th' is in the same category as the frequently seen 'discounts up to 99%'. Doomsday is (hopefully quite-a-bit) 'after January 7th'.
I suggest not holding your breath.
|
|
