sl75
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Post by sl75 on Sept 19, 2018 10:45:49 GMT
Supposedly (based on response by email from Lendy support [Edit: identical to the one quoted in the post immediately preceding mine]) it is due to concerns expressed to them by investors about client information potentially being exposed, although they've concluded the risk was negligible after removing the facility.
My best guess is that was because the facility had shown, in obfuscated form, part of the email address of the investor (first and last letter of the part before the @ sign). I would guess that either: - someone considers even this limited amount of information to be a breach of confidentiality (some combinations of first/last and length of string would be more unique than others allowing investors to be "tracked" between different loans, even if their identity is not known). - the facility was coded in a way that could potentially have been abused to allow more information to be exposed It would strike me that a better short-term fix would be removing the column rather than the entire tab (if that was indeed the issue), but they did say it would be back in a simplified form, with more information available in due course.
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jonno
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nil satis nisi optimum
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Post by jonno on Sept 19, 2018 11:31:08 GMT
To be honest, I've never really understood the point of having any investor reference attached to investments, so losing that wouldn't bother me in the least. But isn't it typical of Lendy to enact this review/change without any prior notification to platform users. Never have so many feet received so many bullets.
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jwatson
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Post by jwatson on Sept 19, 2018 11:57:27 GMT
To be honest, I've never really understood the point of having any investor reference attached to investments, so losing that wouldn't bother me in the least. But isn't it typical of Lendy to enact this review/change without any prior notification to platform users. Never have so many feet received so many bullets. Back in the days of SM famine and bots hoovering up any morsels that became available it was interesting to identify lenders who were buying multiple chunks. I guess now that's not important (it would just be good if somebody bought them !).
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Post by brightspark on Sept 19, 2018 19:14:05 GMT
I have to wonder how long is in due course. Depending on the platform this can vary between an hour or two and forever. lend err towards the latter in my experience - think Marylebone, Wolverhampton, Devon, or whatever long and drawn out loan saga of which you can recall among the many.
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tx
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Post by tx on Sept 20, 2018 7:24:44 GMT
Did they say “expose” client info? Is exposing Lendy Wealth as a client on the Lendy classic accounted as one of these cases? Or the primary case?
My conclusion is L*******h has negligible risk indeed.
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Post by patright on Sept 20, 2018 7:39:00 GMT
Interestingly, since this recent activity has been removed, the loans I am monitoring on the secondary market are not moving one cent..
not that they were moving much before but still a little
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rocky1
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Post by rocky1 on Sept 20, 2018 13:12:33 GMT
will the amount of investors in each tranche of never ending lendy loans be removed next? looks enbarrassing to see only 1 to 2 hundred lenders now throwing in funds out of the many thousands registered.
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sl75
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Post by sl75 on Sept 20, 2018 14:05:46 GMT
will the amount of investors in each tranche of never ending lendy loans be removed next? looks enbarrassing to see only 1 to 2 hundred lenders now throwing in funds out of the many thousands registered. Also shows just how many people have been forced to switch off the "auto pre-fund" function. On one level, I pity anyone who Lendy are still successfully tricking into automatically pre-funding each tranche of a loan where they've already contributed umpteen times to the previous tranches... or new lenders who naively turn on the function thinking that "Pre-fund all loans" really does mean loans rather than tranches of existing loans.
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hantsowl
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Post by hantsowl on Sept 21, 2018 8:56:11 GMT
Investor activity is back, but without the actual buyer references. I am not too concerned about the change since my only interest is in how quickly the loan is moving on the SM, not who is doing the buying.
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pence
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Post by pence on Sept 21, 2018 9:22:40 GMT
...
It would strike me that a better short-term fix would be removing the column rather than the entire tab (if that was indeed the issue), but they did say it would be back in a simplified form, with more information available in due course.
I agree .. just removing the investor reference column should have been sufficient and lets people still see how liquid a loan on the secondary market is.
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pence
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Post by pence on Sept 21, 2018 9:24:41 GMT
Investor activity is back, but without the actual buyer references. I am not too concerned about the change since my only interest is in how quickly the loan is moving on the SM, not who is doing the buying. ops .. should have read the thread to the end first 
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dawn
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Post by dawn on Sept 21, 2018 22:26:42 GMT
Have just logged on to my main account and the Investor Activity tab is showing date and amount only (ie minus who bought it) - I am happy with that - I just like to know how much interest there is in a particular loan before I put anything up for sale - less interested in who buys what (although that can sometimes we useful as well).
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