02-05-2018, 08:13 AM
I have always been under the impression (until 5 minutes ago) that one lost a days interest if one's loan part was up for sale at midnight. Well, if that was ever the case, it is certainly not so now. I have just noticed a new category of information - Total duration for sale. This had me foxed for a bit. Was Lendy forecasting how long it would be before it sold? Alas no. Lendy are measuring the exact time a loan part goes up for sale before it is taken off the market in frustration at not being sold, and presumably deduct this portion of interest, even for a fraction of a day, hour or minute. So my previous method of testing the market by putting a loan part up for sale in the morning, and removing it before midnight, merely costs me interest. How long has this been going on, and does anyone know if any other platforms follow this practice?