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Post by picky on Mar 5, 2016 15:26:19 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/. Hi, Thanks for the reply. I do appreciate you answering. It would be nice if you elaborate more on the 2 and 3 questions. My first question was about the originators. If, for example, I invest in secured car loans and Mogo company operating in the country goes bancrupt. Thanks in advance!
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homes119
Member of DD Central
Posts: 93
Likes: 19
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Post by homes119 on Mar 10, 2016 20:04:51 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/. Hi, Thanks for the reply. I do appreciate you answering. It would be nice if you elaborate more on the 2 and 3 questions. My first question was about the originators. If, for example, I invest in secured car loans and Mogo company operating in the country goes bancrupt. Thanks in advance! I have the same question. Is the contract directly with borrower from Mogo? Who holds security over the asset, in general, is it the originator or Mintos? I too have been considering investing in Mintos but I am yet confident enough to take the plunge. The borrower default rates are there to see but I have no visibility on the operator risk which is more important imho. Could anyone shed some light on this? Those that invest in Mintos, do you have access to the contracts? Would you recommend Mintos? Aren't you worried about the buyback guarantee? What if it's revoked at the worst possible time on depreciating assets such as cars?
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