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Post by p2plender on May 8, 2017 23:59:33 GMT
"It's not Lendy's fault" I beg to differ. The sm is clogged up because people have realised the quality of the loan book as well as the sheer number of loans in default. Meanwhile the pipeline fills with poor quality potential loans sugar coated with an 'original' 12% tag. 100 days is fast becoming 150 days. They need to sort this mess out and quickly, otherwise they won't be here in 2 years. As I've said before, cash is leaving the platform at a now alarming rate.
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elliotn
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Post by elliotn on May 9, 2017 4:16:15 GMT
Today seems to be an ultimate standstill for any selling queues. Lendy management, wake up! HC sold in nano-seconds yesterday and the caravans in seconds today (albeit in the middle of the night  ).
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elliotn
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Post by elliotn on May 9, 2017 4:17:43 GMT
You don't have a right to sell! If you need to sell loans you might have to use a site where you can sell at a discount. Such as which one exactly? If it exists, who gets passed the discount: the buyers like ourselves, or the site company itself? The buyer gets the discount as increased capital - try fs, abl, ac, fc etc.
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Post by lendinglawyer on May 9, 2017 6:37:11 GMT
I'm not saying this is the case for all loans but I'm starting to think there is quite a lot of "list in the morning, de-list in the evening, to see how much the queue moves without losing any interest" going on out of curiosity as to the state of the SM. The investor activity tab is helpful but as it only shows the most recent transactions it's not complete if you only want to look occasionally. It does seem strange though because if you were doing that with no intention of selling I'd have thought you'd just list £1 or something so the effect should be negligible whereas the above numbers show it isn't sometimes... Paul64 might it make sense to add some SM stats for each loan and aggregated (total, IA, SBL, IOA and DEF perhaps)? E.g. in each of last 24 hours and week: (a) amount sold (b) amount listed (c) amount de-listed. If nothing else would remove all the speculation. |
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seeingred
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Post by seeingred on May 9, 2017 9:14:08 GMT
"" Paul might it make sense to add some SM stats for each loan and aggregated (total, IA, SBL, IOA and DEF perhaps)? E.g. in each of last 24 hours and week: (a) amount sold (b) amount listed (c) amount de-listed. ""
There may soon be little point in leaving some older loans listed for sale - you might as well cancel the sale and resume accumulating interest, in the hope that the loan pays back when it eventually comes to an end. Huge purchases on the SM as occurred with one loan recently are almost as rare as hens teeth.
The new 'receivership' loans from East Anglia will soak up most available cash, and Lendy has stated it intends to offer lots of new loans maybe on an accelerating basis. Given the money that it is claimed is leaving the platform anyway, there will be even less available to soak up SM loans, except the very good ones.
And beware valuations of new 12% loans. Loans secured on rubbish property are rubbish loans, and you may well end up holding them to term, whether you like it or not.
The amount on the SM is currently only about £2.3 million (excluding the DEF loans which are (only??) £0.5 million).
£2.3 million is only a few % of the total loan book of around £170 million. But it does feel a lot different from the days of 'All loans are fully funded.' on the SM.
The total of DEF loans may increase markedly if some of the existing ones are not resolved in the next few weeks. If capital losses occur a sense of reality may descend like a black cloud over the whole platform.
There are around £12 million of loans that could go to DEF by the summer.
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r1200gs
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Post by r1200gs on May 9, 2017 10:27:13 GMT
"" Paul might it make sense to add some SM stats for each loan and aggregated (total, IA, SBL, IOA and DEF perhaps)? E.g. in each of last 24 hours and week: (a) amount sold (b) amount listed (c) amount de-listed. "" There may soon be little point in leaving some older loans listed for sale - you might as well cancel the sale and resume accumulating interest, in the hope that the loan pays back when it eventually comes to an end. Huge purchases on the SM as occurred with one loan recently are almost as rare as hens teeth. The new 'receivership' loans from East Anglia will soak up most available cash, and Lendy has stated it intends to offer lots of new loans maybe on an accelerating basis. Given the money that it is claimed is leaving the platform anyway, there will be even less available to soak up SM loans, except the very good ones. And beware valuations of new 12% loans. Loans secured on rubbish property are rubbish loans, and you may well end up holding them to term, whether you like it or not. The amount on the SM is currently only about £2.3 million (excluding the DEF loans which are (only??) £0.5 million). £2.3 million is only a few % of the total loan book of around £170 million. But it does feel a lot different from the days of 'All loans are fully funded.' on the SM. The total of DEF loans may increase markedly if some of the existing ones are not resolved in the next few weeks. If capital losses occur a sense of reality may descend like a black cloud over the whole platform. There are around £12 million of loans that could go to DEF by the summer - a far more serious matter than the current £0.5 million worth. I think that any loan now selling quickly on the SM should probably not have been sold at all, unless you needed the money of course. The option of selling on the SM has largely been removed from my investment calculation with Lendy.
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Post by justdabbling on May 9, 2017 11:02:33 GMT
Lendy's objective should be to bring all loans to a satisfactory conclusion whether through on-time repayments or by taking over and realising the value of the security. Perhaps this is more likely to be achieved if the platform continues to grow and so retains and grows its resources and expertise in closing loans. Enabling established lenders to 'pass the parcel' on to unfortunate new lenders would not help Lendy to achieve its aims.
So I am hoping it is all part of the plan which has a good chance of succeeding rather than a descent into chaos. So far no one has lost anything and the platform has grown.
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mikes1531
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Post by mikes1531 on May 9, 2017 12:25:44 GMT
DFL001 queue has moved by £1,579.87 (estimated time to start selling 25 days) : There's something about the above that I don't understand. The amount DFL001 for sale the last few days has been about £190k. If the selling rate is about £1.6k/day, ISTM that someone listing a part for sale now could expect to wait about four months to reach the front of the selling queue. What am I missing?
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ilmoro
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Post by ilmoro on May 9, 2017 12:57:38 GMT
DFL001 queue has moved by £1,579.87 (estimated time to start selling 25 days) : There's something about the above that I don't understand. The amount DFL001 for sale the last few days has been about £190k. If the selling rate is about £1.6k/day, ISTM that someone listing a part for sale now could expect to wait about four months to reach the front of the selling queue. What am I missing? Figures are probably distorted by significant buying at the start of the month with repayments/interest so the extrapolation is positive skewed in the early part of the month (assuming there is some math/science behind it). Also the impact of cancelled sales moving the queue forward unpredictably
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r1200gs
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Post by r1200gs on May 9, 2017 13:06:20 GMT
vmail : There's something about the above that I don't understand. The amount DFL001 for sale the last few days has been about £190k. If the selling rate is about £1.6k/day, ISTM that someone listing a part for sale now could expect to wait about four months to reach the front of the selling queue. What am I missing? Figures are probably distorted by significant buying at the start of the month with repayments/interest so the extrapolation is positive skewed in the early part of the month (assuming there is some math/science behind it). Also the impact of cancelled sales moving the queue forward unpredictably I hadn't though about cancelled sales. Good point. That explains something for me.
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GeorgeT
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Post by GeorgeT on May 9, 2017 13:53:40 GMT
Don't forget we are expecting about £2.5 million to hit investors' accounts in the next week or so.
If only 20% of that is re-invested on the platform it will clear some blockages.
From the last updates:
PBL068 - Solicitors are in funds for a proportion of the outstanding debt, we expect full repayment mid May. (£1.295m)
PBL047 - Expecting full repayment by mid May. (£1.285m)
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Liz
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Post by Liz on May 9, 2017 14:01:58 GMT
Don't forget we are expecting about £2.5 million to hit investors' accounts in the next week or so. If only 20% of that is re-invested on the platform it will clear some blockages. From the last updates: PBL068 - Solicitors are in funds for a proportion of the outstanding debt, we expect full repayment mid May. (£1.295m) PBL047 - Expecting full repayment by mid May. (£1.285m) Never expect repayments, things often don't go to plan.
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vmail
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Post by vmail on May 9, 2017 14:38:19 GMT
DFL001 queue has moved by £1,579.87 (estimated time to start selling 25 days) : There's something about the above that I don't understand. The amount DFL001 for sale the last few days has been about £190k. If the selling rate is about £1.6k/day, ISTM that someone listing a part for sale now could expect to wait about four months to reach the front of the selling queue. What am I missing? The calculation was for my position in the queue
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Post by freedommmm on May 9, 2017 18:24:18 GMT
Don't forget we are expecting about £2.5 million to hit investors' accounts in the next week or so. If only 20% of that is re-invested on the platform it will clear some blockages. From the last updates: PBL068 - Solicitors are in funds for a proportion of the outstanding debt, we expect full repayment mid May. (£1.295m) PBL047 - Expecting full repayment by mid May. (£1.285m) Never expect repayments, things often don't go to plan. On the positive note, we actually got a full repayment of a default loan PBL075 today!
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Post by lendinglawyer on May 9, 2017 19:55:38 GMT
As if the answer to the thread subject wasn't already "everything", tomorrow there's another £2.5m+ of go lives set to push yet more into the SM queues, if not tomorrow then in a few days when lots of people fail to fund their INPL PM activity.
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