rrrupert
Member of DD Central
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Post by rrrupert on Mar 2, 2018 23:49:00 GMT
^Very much needed
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sj
Member of DD Central
Posts: 229
Likes: 330
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Post by sj on Mar 3, 2018 0:44:27 GMT
Thirded. My DFL investments on LY (and indeed other platforms) are relatively very small, i've got a lot more money that I could sink into them if I so desired but I won't do that without more detail on the build progress. It's because of this position that myself and many others take that the DFLs on LY struggle so much to fill and stay filled. So think on that very carefully when you reply, Lendy....
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Post by Deleted on Mar 6, 2018 15:12:42 GMT
I don't know if I should laugh or cry based on Lendy's confidence on our intelligence (or lack of it)
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sj
Member of DD Central
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Post by sj on Mar 6, 2018 15:48:47 GMT
Hang on a second - Lendy are having these IMSs produced for themselves anyway - so it's not costing them an extra penny to make them available to us to view for ourselves, we have to rely on their distorted view of "progress". And you think we're too stupid to understand any of it! Why don't you publish the full unredacted IMS and also give your own "executive summary" for those of us too stupid to understand the full IMS?
Alternatively, fine play it that way Lendy. Take a look at the frankly pathetic amount that your recent DFL tranches have filled and have another think as to why this is happening.
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mikes1531
Member of DD Central
Posts: 6,453
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Post by mikes1531 on Mar 6, 2018 15:49:42 GMT
I don't know if I should laugh or cry based on Lendy's confidence on our intelligence (or lack of it) This episode gives us a bit of a clue what sort of audience Lendy are aiming for. The sooner they can rid themselves of investors who understand what's going on, the happier they'll be! 
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r1200gs
Member of DD Central
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Post by r1200gs on Mar 6, 2018 16:04:54 GMT
I don't know if I should laugh or cry based on Lendy's confidence on our intelligence (or lack of it) This episode gives us a bit of a clue what sort of audience Lendy are aiming for. The sooner they can rid themselves of investors who understand what's going on, the happier they'll be! You beat me to it.
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ptr120
Member of DD Central
Posts: 1,202
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Post by ptr120 on Mar 6, 2018 16:24:51 GMT
The fact that the updated terms and conditions mean that they have no obligation to monitor any loan is a red flag for me. Combined with the fact that they are still operating under interim authorisation (and won't give any guidance as to how long it'll likely take for full authorisation, or what steps still need to be completed) mean that I'll be withdrawing from the platform as and when repayments are forthcoming.
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Balder
Member of DD Central
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Post by Balder on Mar 6, 2018 16:43:51 GMT
What they really mean is if we publish them then you will only ask more questions and we can't be arsed to answer them!
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zlb
Member of DD Central
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Post by zlb on Mar 7, 2018 17:21:48 GMT
When asked a question L refer the asker to the risk statement. If one doesn't have all of the facts then how does one know what the risk is? It seems that one is supposed to trust the platform implicitly such as trusting L interpretation of an IMS report, but really one is to conduct own dd without having the full facts.
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,447
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Post by stub8535 on Mar 7, 2018 17:50:33 GMT
Would Lendys interpretation of the INS report be classed as advice?
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Balder
Member of DD Central
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Post by Balder on Mar 7, 2018 18:08:17 GMT
If the T&C say Lendy do not monitor loan performance and they also say they won't publish IMS reports because they are to complicated - then what are they doing with them?
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gb007
Member of DD Central
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Post by gb007 on Mar 7, 2018 18:22:06 GMT
In the overview for loan which went live today (PBL198), it says "We will closely monitor the progress of the conversion works, letting and refinance."  |
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brianlom1
Member of DD Central
He's not the Messiah, he's a very naughty boy!
Posts: 400
Likes: 416
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Post by brianlom1 on Mar 8, 2018 23:38:13 GMT
If the T&C say Lendy do not monitor loan performance and they also say they won't publish IMS reports because they are to complicated - then what are they doing with them? Hi Paul64 your reply restating Lendy's position has evidently been met with a little derision and a modest amount of thinly veiled contempt. Some may think that your comments concerning our ability to read an IMS report, interpret its contents and finally enable an evidenced based lending decision are a tad patronising... If another well known Platform can (without fear or reservation) afford us the opportunity to read their technically detailed IMS reports then what's the real objection to Lendy offering the same? Let's face it why does Lendy even bother paying for them in the first place if it's not interested in monitoring our loans and we're not getting to review them either?! Bonker's, no? Makes a mockery of our new T&C's? I'm sorry Paul but a rethink may be required. Best regards, J. Until then, I'm out (and so are several members of my family)
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