tx
Member of DD Central
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Post by tx on May 5, 2018 20:56:47 GMT
It really feels like COL’s final days ...
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Post by patright on May 6, 2018 5:45:06 GMT
They really need to stop adding new loans when so many are in trouble and their market is totally illiquid
across 10 loans I have for sale, I can say the queue goes down by around 10gbp per day, would be years at that rate to sell..and all that without getting paid a penny
Hope it turns around but..
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Post by p2plender on May 6, 2018 6:18:55 GMT
No new business equals no new fees. Hamster needs to go faster to keep the wheel spinning. Of course things look terminal now that Wolves has flopped. £14 mill may well have helped the platform out a tad. Now what's coming in to oil the wheel?
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Post by patright on May 6, 2018 9:31:08 GMT
Well true but I don't see how people can invest in new loans when seeing the current portfolio enfolding
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Post by picanto on May 6, 2018 11:00:20 GMT
They really need to stop adding new loans when so many are in trouble and their market is totally illiquid across 10 loans I have for sale, I can say the queue goes down by around 10gbp per day, would be years at that rate to sell..and all that without getting paid a penny Hope it turns around but.. I agree they should stop adding new loans because they quite clearly aren't going to get filled unless they get some large repayments on their current loan book. However, being able to sell your loans on the secondary market is not something you should ever rely on when investing your funds. It's not really Lendy's problem on how liquid the secondary market is.
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warn
Member of DD Central
Curmudgeon
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Post by warn on May 6, 2018 14:28:34 GMT
It's not really Lendy's problem on how liquid the secondary market is. Well, that's true to a degree, but there is a school of thought that might aver that the illiquidity of the SM could in part be traced to the odd Lendy problem.
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tx
Member of DD Central
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Post by tx on May 6, 2018 15:22:58 GMT
It's not really Lendy's problem on how liquid the secondary market is. Well, that's true to a degree, but there is a school of thought that might aver that the illiquidity of the SM could in part be traced to the odd Lendy problem. I am afraid I cannot concur, I am in the other “school of thought”, not that Lendy responsible for SM liquidity, but the liquidity on SM the only indicator of confidence of the Lendy platform and its loans. And also, the initial funding and secondary sale are mixed, I don’t even know if 60k on market, say, full SM sale or is still waiting for initial funding. And SM is contaigion to new loan initial funding too, as we already see on the current SM.
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Post by brightspark on May 6, 2018 15:25:28 GMT
They really need to stop adding new loans when so many are in trouble and their market is totally illiquid across 10 loans I have for sale, I can say the queue goes down by around 10gbp per day, would be years at that rate to sell..and all that without getting paid a penny Hope it turns around but.. I agree they should stop adding new loans because they quite clearly aren't going to get filled unless they get some large repayments on their current loan book. However, being able to sell your loans on the secondary market is not something you should ever rely on when investing your funds. It's not really Lendy's problem on how liquid the secondary market is. I am not sure I entirely agree. Lendy should take a more rounded view of their entire loan book performance. If they don't then it becomes unbalanced as is happening now. The failure to balance the needs of all three parties - platform , lenders, borrowers - leads to financial log jams which are in no one's interests. Currently the seizing up of the secondary market is causing problems for Lendy as it is having a knock on effect on the primary market which is under subscribed. There is no simple solution but signalling a more robust response to poor payers and a rejection of some new riskier loans would be a step in the right direction.
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Post by patright on May 6, 2018 17:14:58 GMT
I agree they should stop adding new loans because they quite clearly aren't going to get filled unless they get some large repayments on their current loan book. However, being able to sell your loans on the secondary market is not something you should ever rely on when investing your funds. It's not really Lendy's problem on how liquid the secondary market is. I am not sure I entirely agree. Lendy should take a more rounded view of their entire loan book performance. If they don't then it becomes unbalanced as is happening now. The failure to balance the needs of all three parties - platform , lenders, borrowers - leads to financial log jams which are in no one's interests. Currently the seizing up of the secondary market is causing problems for Lendy as it is having a knock on effect on the primary market which is under subscribed. There is no simple solution but signalling a more robust response to poor payers and a rejection of some new riskier loans would be a step in the right direction. It's always a problem for any business to have unhappy "customers" if it's not their legal responsibility, at the end of the day it does become their responsibility to have a smooth business
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Post by freedommmm on May 8, 2018 9:28:31 GMT
I got invested a little into the latest tranche of DFL021. Next thing I new, there is a sale queue for this loan, and I put my loan parts up for sale when the queue size was about £35,000. Yet today the queue size in front of me has increased to: £60,863.17.
How is it possible?
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warn
Member of DD Central
Curmudgeon
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Post by warn on May 8, 2018 9:47:42 GMT
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on May 8, 2018 9:50:02 GMT
I got invested a little into the latest tranche of DFL021. Next thing I new, there is a sale queue for this loan, and I put my loan parts up for sale when the queue size was about £35,000. Yet today the queue size in front of me has increased to: £60,863.17. How is it possible? Unpaid for prefunded parts put back on the market by Lendy. I think they go to front of the queue as they are PM sales not SM.
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rocky1
Member of DD Central
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Post by rocky1 on May 8, 2018 10:23:31 GMT
I got invested a little into the latest tranche of DFL021. Next thing I new, there is a sale queue for this loan, and I put my loan parts up for sale when the queue size was about £35,000. Yet today the queue size in front of me has increased to: £60,863.17. How is it possible? i take it you are pretty new to lendy. dont think that lendy are going to let you get away that quickly my friend.they also have lots of other tricks tied up in T@Cs so be prepared to be around for a long time .welcome to the circus.
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tx
Member of DD Central
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Post by tx on May 8, 2018 15:02:07 GMT
I got invested a little into the latest tranche of DFL021. Next thing I new, there is a sale queue for this loan, and I put my loan parts up for sale when the queue size was about £35,000. Yet today the queue size in front of me has increased to: £60,863.17. How is it possible? i take it you are pretty new to lendy. dont think that lendy are going to let you get away that quickly my friend.they also have lots of other tricks tied up in T@Cs so be prepared to be around for a long time .welcome to the circus. It used to be the case that Lendy let investors sales go before theirs. Think some time last year they said they are changing this according to FCA recommendation (purely from my memory), so that the platform doesn’t participate in the funding process. I don’t know how much truth to it or how much I have understood/misunderstood it.
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empirica
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Post by empirica on May 9, 2018 20:03:59 GMT
SERIOUSLY, this secondary market is not moving at all from what I am seeing could take months to move on the queue while keeping all the risk and not getting paid a penny in interest surely that's unfair and I am even wondering on how legal this is at this point Might the FCA point it out to Lendy if they were treating their customers illegally? I'd suggest it may delay their application to be fully authorised a bit.
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