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Post by excalibur on Jun 5, 2017 7:30:22 GMT
Tranche 8: the only people imo who are going to pre-fund this are those who think it'll have 365 days to run rather than 53 days. If they want to shift this they need to increase the interest rate in line with the higher risk or give it 365 days. I've been really put off by Lendy the last few months with this build up on the SM which I consider to be their own fault from overloading. What are they going to do about it because atm if they put a juicy new loan up at 15% I'd probably swerve it.
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username
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Post by username on Jun 5, 2017 16:30:12 GMT
Well the SM is down to £101,207 and the latest tranche has disappeared from the pipeline... not sure it went live.
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copacetic
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Post by copacetic on Jun 5, 2017 16:49:09 GMT
I wonder if we're getting the complete picture here. If the underwriter fills a tranche is it automatically placed on the secondary market or put on later manually? Could Lendy be holding back on flooding the secondary market even more?
That said it was a small tranche so perhaps this view is overly sceptical and it simply filled from autopilot prefunds.
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username
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Post by username on Jun 5, 2017 16:51:42 GMT
Well the SM is down to £101,207 and the latest tranche has disappeared from the pipeline... not sure it went live. Apparently, it has gone live - loan now at £6,832,942, so has increased in line with the new Tranche According to the data I have at hand, there was no spike, so must have simply filled - it is beyond me Half the size of DFL028 which filled, but a much shorter term and I imagine a lot of people are up to their personal limits like DFL012. I feel a conspiracy theory starting...
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MONEY
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Post by MONEY on Jun 13, 2017 11:12:45 GMT
Paul64 / Lendy Support / savingstreamIs there a reason why DFL008's GDV decreased by £223,000 on the 2nd June 2017? AFAICS, there has been no revision(s) to the original VR, dated August 2016. When first noticed, it was assumed the difference was an administration error, but time has gone on and the figure has not been re-adjusted, so presumably there's another explanation? GDV @ 2nd June 2017 onwards  GDV @ 4th May 2017 (previous tranche) and up until 1st June 2017 
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acky
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Post by acky on Jun 17, 2017 12:30:56 GMT
The £223,000 difference is explained in the Loan Overview (UNs on units exchanged)
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acky
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Post by acky on Jun 17, 2017 12:33:31 GMT
The Loan Overview says the units will be completed between February and May, which obviously is not the case. Surely we are due an explanation and quantification of the slippage from Lendy, rather than the Recent Updates simply implying everything is on track, which clearly it isn't - at least not the track that's disclosed to us.
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ilmoro
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'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 Jun 17, 2017 14:16:40 GMT
The £223,000 difference is explained in the Loan Overview (UNs on units exchanged) Thanks for pointing that out, acky . It appears that update has been apparent under the 'Purpose for Borrowing' section from before Dec 2016, stating " we have (past tense) discounted both the Day 1 land valuation and the GDV by the amount of the deposits taken", so a little surprised the discount wasn't applied to the loan details until more than 6 months later. Perhaps the next tranche of funds on those flats became due which would increase the sum covered by the UNs?
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GeorgeT
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Post by GeorgeT on Jul 7, 2017 23:55:15 GMT
Without wishing to divulge any personal responses I have had from LY I would like to assure investors that they ARE listening and learning and I am very hopeful of further improvements over the coming weeks and months.
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Post by p2plender on Jul 8, 2017 6:46:33 GMT
Without wishing to divulge any personal responses I have had from LY I would like to assure investors that they ARE listening and learning and I am very hopeful of further improvements over the coming weeks and months. Just a shame they chose not too listen earlier. Will be very very hard for them to get the investors back on board.
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Post by chielamangus on Jul 8, 2017 8:19:04 GMT
Without wishing to divulge any personal responses I have had from LY I would like to assure investors that they ARE listening and learning and I am very hopeful of further improvements over the coming weeks and months. So now we have assurances from some anonymous forum contributor about Lendy's capability and performance! Why waste your time, GeorgeT? I for one only ever read your posts for light relief.
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mary
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Post by mary on Jul 8, 2017 8:28:24 GMT
Tranche 9 funding request for £161,414 is in the pipeline section accompanied by a significant project update, which concludes: Paul64 / Lendy Support - credit where credit is due, this represents a significant improvement in loan-level comms and is both welcomed and appreciated. Personally, I would still prefer to see overall figures for ' percent complete' for time and ' projected spend remaining' for budget, but this is definitely a step in the right direction. With exchanged sales of £11m, and more agreed, against a loan of less than £7m, I am very happy that this is already in my hold to the end pile. With 70% sold, 20% reserved, looks like a very profitable development! Now if all DFLs can have similar updates I may bring back some of the money I have removed in the past two months.
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r1200gs
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Post by r1200gs on Jul 8, 2017 9:11:55 GMT
Tranche 9 funding request for £161,414 is in the pipeline section accompanied by a significant project update, which concludes: Paul64 / Lendy Support - credit where credit is due, this represents a significant improvement in loan-level comms and is both welcomed and appreciated. Personally, I would still prefer to see overall figures for ' percent complete' for time and ' projected spend remaining' for budget, but this is definitely a step in the right direction. With exchanged sales of £11m, and more agreed, against a loan of less than £7m, I am very happy that this is already in my hold to the end pile. With 70% sold, 20% reserved, looks like a very profitable development! Now if all DFLs can have similar updates I may bring back some of the money I have removed in the past two months. I agree. It's difficult to see what could go wrong here. I already have substantial holding but I'm tempted to park a bit more here. If anyone thinks I'm being a plank, please don't be shy in telling me why!
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r1200gs
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Post by r1200gs on Jul 8, 2017 9:42:38 GMT
I agree. It's difficult to see what could go wrong here. I already have substantial holding but I'm tempted to park a bit more here. If anyone thinks I'm being a plank, please don't be shy in telling me why! We only know what Lendy know and have told us. We don't know what Lendy know but haven't told us. We don't know what Lendy don't know and can't tell us. So long as 'a bit more' doesn't exceed any personal limits on single loan / platform exposure, then I personally know of no reason why you shouldn't, but just because you can, doesn't mean you should. (It's a lose / lose situation. If the loan fails, you'll feel a plank for putting more in. If the loan succeeds, you'll still feel a plank for not putting more in!) Mmmm....All good points. Well, yes it would be more than my personal limit, but then I'm thinking that a personal limit should not stop me making the right decision, particularly as it's parked at 4 percent at present. I think I'll do a bit of digging, but it's hard to see how this could go wrong with this sort of margin. I am wary of what we might not be getting told, but then I'm a soon to be ex customer of FS, so I would be! I still find it hard to see how we might lose money on this one though. Off to do a bit of digging. 
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dovap
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Post by dovap on Jul 8, 2017 10:08:27 GMT
sounds like the borrower is awash with cash
odd they'd want expensive further tranches / extensions
be nice to get some decent sized loans done and dusted
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