Due to policy changes of the Lenndy platform on 17th of March 2021, loan originators have been obliged to redeem all claim rights from investors that have BuyBack guarantees.
The changes in the financial market and the COVID pandemic in the world, have shown that 100% buyback guarantee is risky for both, the loan operators and the investors.
As of this matter Lenndy will no-longer publish new claim rights with buyback guarantee. From now on Lenndy platform offers investing in loans without buyback guarantees, as well as other products, such as real estate rental income sharing. More information regarding the real estate project will be shared soon in the BLOG.
On the 17th of March 2021, Lenndy has published confirmation agreements from each originator, stating the process of full principal outstanding and interest outstanding return process. After assessing the financial capabilities of each originator for settlements with Lenndy investors, originators have produced a principal outstanding payment schedule. As already mentioned, the priority will cover the capital (principal outstanding) first and the interest accrued in the secondary order, as full capital is returned.
Payment schedules for each originator can be found in each investor's personal Lenndy account under “active claims” in “portfolio” section.
Lenndy as administrator will control the cash-flow from each originator as stated in the payment schedule and will share the funds to each investor automatically in equal proportions to their principal outstanding balance.
Please note that before the production of payment schedule, each originator have assessed their financial possibilities to keep up with the schedule. The priority for each originator is to process the principal outstanding returns in the shortest-term possible. Regarding this matter, all available funds from originators will be collected for coverage of principal outstanding regardless the payment schedule. The process will be monitored by Lenndy.
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