FIXED - Bugs in the SM and sales queue

We still have bugs, even if all the black holes have been cleared (have they?).

The sales queue shown prior to selling is different to the queue shown after selling. I've got a £1 piece of DFL008:

Note the sales queue is £80k. If I 'Sell Loan Part' and check my selling loan parts I see this:

Now the queue is £9k.

These used to be consistent (the queue shown prior to sale used to indicate where your sale would go in the queue). I assume that this is work in progress and has to do changing the SM queue priorities.

Sept 7, 2017 12:07:28 GMT withnell said:

I've had a £500 chunk of DFL008 partly sold for a couple of days now (so showing as zero ahead in the queue) - unclear where the c. 3k that's been bought so far today has been allocated against, plus amounts traded yesterday!

Going to wait it out as it offsets my INPL position, but not sure if anyone else has experienced this?

It seems that the sales queue position you are being told (i.e. at the front of the queue with zero ahead) is incorrect and that there is other stuff selling in front of you.

Perhaps that 'other' stuff is the £70k of underwriters money still in DFL008. Lendy said that selling underwritten value would take priority on the SM and perhaps it is now doing just that. If this is the case then they should correct the sales queue figures they are showing for loan parts which are currently for sale.

You may be in for quite a wait as that £70k will take a while to shift.

Three posts in a row... sorry... I'm definitely not talking to myself... just providing more information.

Four hours ago I bought and put up for sale a penny of DFL008 (I had a spare penny in my account after Lendy kindly disintegrated the DFL028 black hole).

At that time, the DFL008 sales queue shown in my 'My Loans -> Selling Loanparts' overview showed £9,191.86. The sales queue on the loan part details window (lendy.co.uk/my-loans/part/1517558 in my case) showed £80,550.95.

Now, four hours later, the first figure is unchanged whereas the second figure has reduced to £80,529.86 (a meagre £21.09 reduction).

This shows us three things (at least):

  1. The sales queue shown in the 'My Loans -> Selling Loanparts' overview is the old figure that we're used to: the underwritten stuff is still behind the regular investors in this figure.

  2. The queue shown in the loan part details window seems to be the real figure and clearly we are now behind the underwriters because the amount of regular investor money ahead of us is not changing whereas the total queue is reducing... slowly in this case. This is exactly as Lendy said it would be from September 1st.

  3. The Lendy software does not use a common piece of code to calculate a loan part's position in the sales queue. It uses different code to make the calculation depending on which window you're viewing. If the code was common (as it should be) then making the change would affect both figures.

Unfortunately, what I think is the correct sales queue figure, appears only on a window that is normally 'hidden': you can only get to it by entering the correct web address - there is no way of getting there via web links on their site (as far as I know). The wrong sales queue figure is given in our 'Selling Loanparts' overview which is where most people get their information on their selling loans.

Just another thing for Lendy Support to fix (sorry for tagging you guys again).

Sept 7, 2017 18:12:11 GMT GSV3MIaC said:

I really think they are on dodgy ground failing to pay interest on 'for sale' parts, while sticking their underwriter-parts in ahead, while lying about  mis-displaying the actual size of the queue you are in. And afaik, they still haven't fixed the 'how much interest shall we actually deduct' bug(s).

So far, the interest paid monthly (mine at least) has been correct whereas what is shown in the various 'my loans' pages has numerous problems:

Still (after six weeks of complaining) anything less that 24 hours always shows no interest. This applies to both historic sold loans and live loans.

Still several of my loan parts have doubly deducted sales period - to the extent that the interest I've received is over £70 more than what is shown in 'my loans' on line. Most of the discrepancy is due to a large chunk of the Chalet which took 23 days to sell and they've deducted the 23 days twice in the 'my sold loans' page (I did receive the correct interest). Again, I pointed out these (and sent the loan part IDs) at the same time, six weeks ago... the Lendy IT student seems to be pretty slow.

Perhaps you can apply some of your GSV skills to get their rubbish software fixed. I did offer my services (a couple of days for free) but I've heard nothing!

EDIT (addressing the other points):

 1. Being kind to the IT trainee: I'm guessing that displaying the wrong sales queue amount (where we all look for it) is probably/hopefully a 'work in progress'.

 2. I have no idea whether Lendy are on 'dodgy ground' withholding interest on parts for sale, but I do now think that it's just plain wrong.

Sept 8, 2017 8:40:36 GMT pa said:

The last loan that I have with Lendy that I thought might have a chance of shifted on the SM is in DFL**4 S****am F***ory.

It's been gradually ticking down in the sales queue. TBH honest I wasn't keeping that close an eye on it as it will sell when it sells. A couple of days ago I was pretty sure (ie I know it was but didn't write down the exact figure) that the position in the queue was under five figures - it was less than £10,000 from the front.

Yesterday when I logged on (Sept 7th) I was surprised to see that someone had come along and bought £10,000 in one hit on Sept 6th but my stake hadn't been bought out. I assumed that it was my mistake. I made a note of my position in the queue so I could check that the queue was still moving.

Checking today there have been two purchases totalling £500 (on Sept 8th) but the figure for the sales queue hasn't changed. 

Lendy have shifted priorities in the SM sales queue. DFL004 has been underwritten to the tune of around £170k (this is the present figure - it is selling down slowly).

Your sales queue figure (the one from the 'my loans -> selling loanparts' overview) shows the amount of regular investor sales are ahead of you; the underwritten money isn't included. That used to be fine and correct because your sales ranked ahead of the underwritten sales.

On September 1st Lendy prioritised underwritten sales ahead of regular investors. However, the sales queue figure you see does not reflect this. This is a bug on the web site.

To see the true sales queue you need to view your selling loan part details by entering lendy.co.uk/my-loans/part/1234567 in your browser's address box (using the ID of your specific loan part). On that details view you will see the true sales queue in which you are involved.

You will be dismayed to learn that you are more than £170k from the front.

We have made Lendy aware of this bug via posts earlier in this thread.

EDIT - The suggestion in your post above: 'A bug caused by Lendy deciding that it is ok for them to front-run its investors' looks like the reprioritisation of the SM queues. This is what has happened but the web site hasn't caught up with the change (yet).