elliotn
Member of DD Central
Posts: 3,064
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Post by elliotn on Oct 4, 2017 1:33:01 GMT
These factless type of updates are so tiring  I found the email update pithy and to the point.
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Post by jackpease on Oct 4, 2017 5:26:28 GMT
Had Lendy's update been 'we think they are repaying soon' and they hadn't, they'd have been flamed. If they do vanilla updates they are flamed. If they do no updates they are flamed.
The only update they are not flamed about is when there is good news, so really it's not updates people are baying for, its good news, which sadly can't be plucked from thin air.
Jack P
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debaura
Member of DD Central
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Likes: 318
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Post by debaura on Oct 4, 2017 6:29:52 GMT
WELL DONE LENDY!
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greeb
Member of DD Central
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Post by greeb on Oct 4, 2017 7:33:07 GMT
Excellent news. I had sold out of this some time ago but it always looked quite a decent loan to me.with this new liquidity the sm will now certainly identify the desirable and undesirable loans. All we need now is some good news on Gloucestershire, an overdue downturn in the stock market and some of the doubting Thomas,s will be tip toeing quietly back.
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Post by p2plender on Oct 4, 2017 8:10:28 GMT
Excellent news. I had sold out of this some time ago but it always looked quite a decent loan to me.with this new liquidity the sm will now certainly identify the desirable and undesirable loans. All we need now is some good news on Gloucestershire, an overdue downturn in the stock market and some of the doubting Thomas,s will be tip toeing quietly back. Nope, I'm done once Wolves pays... Been good but will only return if  returns. That way I get liquidity.
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blata
Posts: 77 
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Post by blata on Oct 4, 2017 8:21:11 GMT
We are all good at putting Lendy down myself included . Why are we surprised when a loan is paid back?
Your money is at risk when using Lendy they dont hide it.
I have better returns then with the bank so far and may it continue.
However I have reduced my investment by a lot ,until I feel they have a better valuation team who know real values not inflated ones.
Now to get rid of the castle, if they can do that I will feel happier.
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Post by portlandbill on Oct 4, 2017 8:55:18 GMT
Excellent news. I had sold out of this some time ago but it always looked quite a decent loan to me.with this new liquidity the sm will now certainly identify the desirable and undesirable loans. All we need now is some good news on Gloucestershire, an overdue downturn in the stock market and some of the doubting Thomas,s will be tip toeing quietly back. Nope, I'm done once Wolves pays... Been good but will only return if returns. That way I get liquidity. Me too.
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Post by GSV3MIaC on Oct 4, 2017 9:16:21 GMT
I'd cheerfully up my investment (or stop reducing it) IFF a) they started paying interest on anything for sale, and/or b) stopped dumping their unsold tranches at the head of the SM queue and c) got full FCA approval and started an ISA .. oh yeah, and fixed the valuation report / DFL monitoring report issues. 8>.
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toffeeboy
Member of DD Central
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Post by toffeeboy on Oct 4, 2017 10:48:15 GMT
I'd cheerfully up my investment (or stop reducing it) IFF a) they started paying interest on anything for sale, and/or b) stopped dumping their unsold tranches at the head of the SM queue and c) got full FCA approval and started an ISA .. oh yeah, and fixed the valuation report / DFL monitoring report issues. 8>. I think points b and c are contradictory, isn't the reason they put the unsold new tranches at the front of the queue part of the requirement to get FCA approval.
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copacetic
Member of DD Central
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Post by copacetic on Oct 4, 2017 13:26:38 GMT
I'd cheerfully up my investment (or stop reducing it) IFF a) they started paying interest on anything for sale, and/or b) stopped dumping their unsold tranches at the head of the SM queue and c) got full FCA approval and started an ISA .. oh yeah, and fixed the valuation report / DFL monitoring report issues. 8>. I think points b and c are contradictory, isn't the reason they put the unsold new tranches at the front of the queue part of the requirement to get FCA approval. IMO, no. It's so they don't have to use expensive underwriters for as long. If they owned the unsold tranche it would still be in breach of FCA rules even if it was at the front of the sales queue. While they communicated otherwise in their email this change was just cost saving for Lendy.
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fp
Posts: 1,008
Likes: 853
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Post by fp on Oct 4, 2017 14:06:12 GMT
I'd cheerfully up my investment (or stop reducing it) IFF a) they started paying interest on anything for sale, and/or b) stopped dumping their unsold tranches at the head of the SM queue and c) got full FCA approval and started an ISA .. oh yeah, and fixed the valuation report / DFL monitoring report issues. 8>. I think points b and c are contradictory, isn't the reason they put the unsold new tranches at the front of the queue part of the requirement to get FCA approval. Its an excuse, they could just have a new loan for each tranche like you see anywhere else.
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Post by GSV3MIaC on Oct 4, 2017 14:27:51 GMT
Yep, exactly. And if the FCA requires them not to hold parts on their own books, it matters not one whit whether those parts are at the front or rear of the sales queue .. they are still in violation of the requirement. Putting them at the front just saves them money (compared to underwriters) and/or gets them back to legal slightly sooner.
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bg
Member of DD Central
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Post by bg on Oct 4, 2017 15:10:05 GMT
I think points b and c are contradictory, isn't the reason they put the unsold new tranches at the front of the queue part of the requirement to get FCA approval. IMO, no. It's so they don't have to use expensive underwriters for as long. If they owned the unsold tranche it would still be in breach of FCA rules even if it was at the front of the sales queue. While they communicated otherwise in their email this change was just cost saving for Lendy. Yes exactly. This is another thing that winds me up, they claim they did this because the FCA told them too but its rubbish, they did it to save underwriting fees. It's this false claim alongside the claim that they don't pay interest on parts for sale on the SM to stop lenders gaming the system (yeah right!) that has driven me away. I'd really rather invest in FS. The valuations/monitoring have probably been just as bad but they don't come out with rubbish such as this which take lenders for complete fools.
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sl75
Posts: 2,092
Likes: 1,245
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Post by sl75 on Oct 4, 2017 18:38:19 GMT
Yep, exactly. And if the FCA requires them not to hold parts on their own books, it matters not one whit whether those parts are at the front or rear of the sales queue .. they are still in violation of the requirement. Putting them at the front just saves them money (compared to underwriters) and/or gets them back to legal slightly sooner. A loan part is presumably only "on their books" if the borrower has actually been sent the money. If we assume that the borrower doesn't actually receive the money until the loan parts have been funded then creating a new loan part that was previously unfunded would merely be transferring money from the funds held on behalf of the lender to the funds held on behalf of the borrower ... and by putting the unfunded part at the front of the queue they can send the borrower the money sooner without having to plug the gap with funds from their own books or from an underwriter ...?
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returns. That way I get liquidity.
