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Post by xyon100 on Aug 27, 2015 23:14:13 GMT
Thanks for the input guys. I did experiment with a couple of thousand with Bondora, didn't like it despite what seems to be a good return. Not too pleased with a late payer on Mintos out of so few loans but I accept it's just the way it goes.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317 
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Post by JamesFrance on Aug 28, 2015 8:06:33 GMT
There is a very big difference between loans at Bondora and loans at Mintos.
With Mintos most loans have solid security and/or a buyback guarantee, the few exceptions seem to be some business loans but you can choose not to invest in those if you are not comfortable with that.
All the loans at Bondora are completely unsecured, so rely on the borrower being able to repay them. When loans default there is little sign of recovery a year later, especially for their Spanish market where the default rate has been at least 30%.
If you use auto investment, you will find that the Mintos system allows detailed configuration to let you choose what to invest in, whereas with Bondora you are now only allowed to choose loans by their recently introduced rating system, whereas before you were able to select which countries to lend to and set various conditions to apply before your loan offer would be activated.
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james
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Post by james on Aug 28, 2015 9:24:09 GMT
Yes, big differences. What is your experience with lates making payments rather than going on to default at Mintos? Anything like the high pay eventually rate seen at Bondora for Estonian borrowers?
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
Likes: 893
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Post by JamesFrance on Aug 28, 2015 10:51:33 GMT
james Since January I have made over 200 loans with Mintos. There is currently only one which is over 60 days overdue having made the first 3 payments, however as the loan is for 6000€ secured by an apartment valued at 10000€ I am not worried about that. I think there have been a few buy backs but don't have a record of those. At Bondora nearly a third of my invested amount is now over 60 days overdue, with only a trickle of recoveries. My interest payment total is rather more, as the fir st of my 2 years there only produced 20% of my current defaults, but now each month it is a toss up whether the defaulted amount increases by more than the amount of interest actually received.
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james
Posts: 2,205
Likes: 955
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Post by james on Aug 28, 2015 11:18:38 GMT
james Since January I have made over 200 loans with Mintos. There is currently only one which is over 60 days overdue having made the first 3 payments, however as the loan is for 6000€ secured by an apartment valued at 10000€ I am not worried about that. I think there have been a few buy backs but don't have a record of those. At Bondora nearly a third of my invested amount is now over 60 days overdue, with only a trickle of recoveries. My interest payment total is rather more, as the fir st of my 2 years there only produced 20% of my current defaults, but now each month it is a toss up whether the defaulted amount increases by more than the amount of interest actually received. Thanks. I'm doing somewhat better at Bondora at the moment with about 12% of current outstanding loan value 60+ days overdue and another 11% just overdue but the latter is dropping as usual towards the 10th of the following month and it's monthly cyclical low will probably be about 7-8% based on past months. Never did lending to non-Estonian borrowers and actively sold those that looked likely to default. Slow trickle of recoveries on the 60+ days late group, at least some of them. New defaults for me have only exceeded interest once, in March 2015 when interest - defaults was 0.15% of total amount outstanding at the time. Though January was close with interest at 0.13% of lent amount above new defaults. But those are unusual, I'm usually getting interest - new defaults at about positive 1.1 to 2% of total amount outstanding since I started tracking in early 2014. End of month overdues but not defaulted have ranged from 6.3 to 11.5% in the year I've been tracking them. This is after stopping all new lending about 9 months ago so my total outstanding has fallen to just 70% of my 1 December 2014 peak.
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Post by martins on Sept 1, 2015 15:50:24 GMT
To provide a better insight to our investors about the loan originators who have joined the Mintos platform we will offer interviews with the key people of them. Here is an interview with Mr Juris Grisins, the director of Capitalia, the small business loan originator on our platform. You will find out more about what are the typical borrowers, what factors are taken into account in making a credit decision, Capitalia's experience in underwriting business loans, and much more. www.mintos.com/en/about-us/news/learn-more-about-the-small-business-loans-on-the-mintos-platform/ |
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Post by wiseclerk on Sept 3, 2015 9:52:43 GMT
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Post by webbski9 on Sept 3, 2015 15:29:02 GMT
is it in English Wiseclerk ?
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Post by wiseclerk on Sept 3, 2015 15:34:36 GMT
As you can see the link leads to a German discussion board
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
Likes: 893
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Post by JamesFrance on Sept 4, 2015 6:34:11 GMT
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Post by martins on Dec 11, 2015 9:26:43 GMT
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Post by Butch Cassidy on Feb 16, 2016 10:37:01 GMT
4 x 60 month loans from 14.6-15.0% just appeared on PM if anyone wants some  |
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
Likes: 893
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Post by JamesFrance on Feb 16, 2016 11:16:26 GMT
Thanks, I wish I had money available for when they all come along together, but all auto invested in less desirable things.
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Post by picky on Feb 21, 2016 18:54:20 GMT
To provide a better insight to our investors about the loan originators who have joined the Mintos platform we will offer interviews with the key people of them. Here is an interview with Mr Juris Grisins, the director of Capitalia, the small business loan originator on our platform. You will find out more about what are the typical borrowers, what factors are taken into account in making a credit decision, Capitalia's experience in underwriting business loans, and much more. www.mintos.com/en/about-us/news/learn-more-about-the-small-business-loans-on-the-mintos-platform/Hi, I have some quedtions to Mintos: 1. What would happen if an originator goes bancrupt? 2. Do you have a process to check the originators on a constant basis, or the mentioned due diligence is a one time case? 3. Do you plan to have published constant information to investors on how originators are doing?
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Post by martins on Feb 22, 2016 14:28:16 GMT
Thanks for the questions. Here are the answers: 1. The best is to search our FAQ section. Here I copy the relevant FAQ for convenience. In the unlikely event of Mintos folding investors will be given full information from the portal database on the transactions they have concluded within the framework of the portal. Mintos liquidator or administrator will take all necessary actions to transfer the servicing of all loans and investments to an appropriate manager. In order to ensure the implementation of the aforementioned provision Mintos and the law firm FORT have entered into a contract of bailment under which each month Mintos hands over, and the law firm FORT accepts for storage, data medium containing all current data from the portal. 2. Yes, the loan originators are monitored on constant basis. 3. We are working on bringing more information about each loan originator here: www.mintos.com/en/loan-originators/. |
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