SteveT
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Post by SteveT on Sept 1, 2017 7:20:41 GMT
I think whatever is in the queues come 1st September should be exempt from being pushed to the back of the queue, anything else would be frowned upon should someone decide to make a complaint. I know I wouldn't be happy and would most definitely take legal advice on principle. So, will existing unsold Lendy holdings in the big DFLs be shoving themselves unceremoniously ahead of lender-owned parts in the SM sale queues this morning, or will the new policy apply only to new DFL tranches? My bet is the former...
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twoheads
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Post by twoheads on Sept 1, 2017 7:28:23 GMT
So, will existing unsold Lendy holdings in the big DFLs be shoving themselves unceremoniously ahead of lender-owned parts in the SM sale queues this morning, or will the new policy apply only to new DFL tranches? My bet is the former... At the current time, DFL008 (Office to flats conversion, Liverpool) has £138k on the SM but a sales queue of only £45k; there is £93k of 'lower ranking' stuff on the SM.
So no change yet.
I'll keep checking.
EDIT : The above was written at 08:28, 01/09. As at 17:06, 01/09 - still no change.
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twoheads
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Post by twoheads on Sept 3, 2017 9:07:21 GMT
Total SM is currently £82k, so looks like T13 sold out and and pre-funding excess was used to clear the 'public' queue as well as a portion of the "lower ranking stuff". Sunday morning 02/09 and the SM is £83k with a £1k sales queue.
£10k of 'lower ranking stuff' has been sold but it's still ranking lower than investor sales for the moment.
My tentative conclusion is that existing queues are not being reordered but that unfilled new loans or tranches will have their shortfall inserted at the head of the queue (according to Lendy) thus pushing regular investors backward in the queue.
However, so far it seems that the change does not apply to existing queues, even to the extent that existing 'lower ranking stuff' seems to have remained low ranking. This is certainly true for DFL008 up to now.
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