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Post by martins on Jul 28, 2015 12:31:21 GMT
We will circulate the update about the buyback guarantee in the coming couple of days.
The buyback guarantee applies for the lifetime of all investments made in secured car loans. That applies also to loan parts bought in secondary market.
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Post by martins on Jul 29, 2015 5:57:41 GMT
We are happy to announce that Mogo has decided to extend the buyback guarantee for secured car loans for an unlimited period of time. The investor interest in secured car loans has been great. In four months since the pilot was launched a total of 1126 loans have been funded for a total of EUR 1.4 million. For Mogo using marketplace lending platform to fund loans has proved to be a significant alternative source of financing to fuel growth. We are very positive about Mogo as a secured car loan originator on our platform and are looking forward to expand our cooperation in the future. The buyback guarantee provided by Mogo means that Mogo will buy back from investors every secured car loan that is 60 or more days delinquent. This guarantee adds another layer of security making loan default highly unlikely. The buyback guarantee applies for the lifetime of all secured car loans currently on the platform and those that will be put on the platform in the future.
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Post by gmaxkenny on Jul 29, 2015 21:13:48 GMT
We are happy to announce that Mogo has decided to extend the buyback guarantee for secured car loans for an unlimited period of time. The investor interest in secured car loans has been great. In four months since the pilot was launched a total of 1126 loans have been funded for a total of EUR 1.4 million. For Mogo using marketplace lending platform to fund loans has proved to be a significant alternative source of financing to fuel growth. We are very positive about Mogo as a secured car loan originator on our platform and are looking forward to expand our cooperation in the future. The buyback guarantee provided by Mogo means that Mogo will buy back from investors every secured car loan that is 60 or more days delinquent. This guarantee adds another layer of security making loan default highly unlikely. The buyback guarantee applies for the lifetime of all secured car loans currently on the platform and those that will be put on the platform in the future. Expected move and very welcome. Buyback is the way to go.
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p2pmaster
investment is life.
Posts: 128
Likes: 54
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Post by p2pmaster on Aug 26, 2015 11:04:49 GMT
Just wondering if it is just me or you guys also invest in the highest interest mogo loans as all of them have buyback clause? What's the point of investing in mogo loans with lower interest rate and lower LTV loans, as in case of default after few years, collateral value will likely be lower than the loan principal.
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