Default rates & who am I loaning to?

The stats, including on defaults, can be found here - mintos.lv/en/statistics/

Investors are loaning to individuals. The contract with borrower (or more precisely the right to receive payments from the borrower) is transferred from loan originator to investor based on assignment agreement (here is a sample agreement - mintos.lv/en/doc/assignment_agreement). Thus, investors have a direct claim against borrower and that would not change in case Mintos or other loan originator that is on our platform goes out of business. 

each MONTH!  That's not very useful.  Cloud backup constantly updated is more like it.

I'm sticking to mogo car loans, so that should give another avenue. 
Mind you mogo looks to me like a couple of junior manager types from corporates who've jumped off on their own.  They have got a 20M bond funded so here's hoping they don't waste it too quickly.  If only there was a way of monitoring ferrari sales in the baltic! (Mind you I haven't found a way I understand of looking at anybody's credit refs etc in the Baltic)

I was just suggesting you gave them access to the backup (assuming it's cloud backup), because I feel data a few weeks old would be murder to reconcile.

I understand and applaud your retaining a part of every loan.  I live in euroland, so I'm keen to invest in you more than I have;if you and Mogo had some heavyweight directors I'd be very encouraged.

Try this one

www.mintos.com/en/statistics/

red_panda The mortgage loans are originated by our group company Hipocredit (previously Mintos, but we rebranded it to avoid confusion with the Mintos platform -financenet.tvnet.lv/zinas/585330-nebanku_kreditdevejs_mintos_maina_nosaukumu_pret_hipocredit). 

A standard bailiff process is pretty straightforward. Hipocredit files a claim and goes through a court to get receiving order for auction. Depending on a case it might take from 3 months to 1 year (for more complicated cases) from filing a claim to the first auction.
However, so far Hipocredit has been using only a special notary form agreement with all borrowers that, in case of delinquency, allows them to go straight to notary to obtain receiving order and initiate auction. Here the process from claim to the first auction would take about 1 month.

To date there only a very few cases where loans were 60+ days late. In most of the cases Hipocredit has agreed with the borrower on the schedule to bring the loan back to the current status. Only in one case the bailiff process was initiated (by other creditor not by Hipocredit though, the borrower was making payment to Hipocredit to bring loan back to current status). Because of the very limited number of cases there is not yet a standardised process of information sharing during the bailiff process. However, we are more than happy to shed light on any of the loans to anyone who reach out to support@mintos.com.

As of today only about EUR 10k of the mortgage loans are in the 60+ days category (of EUR 2.2m outstanding), all of which the borrowers are bringing back to current status by making partial payments. The complete statistics of late loans can be found here: www.mintos.com/en/statistics/.

Yes, definitely. We do due diligence on each of the LO we connect to our platform, that includes also debt collection procedures. Once connected we follow closely the bailiff progress. However, similar to Hipocredit, there have been a very few cases where the borrowers have been late for business loans. Investors can read more about Capitalia and small business loans in the interview here: www.mintos.com/en/blog/learn-more-about-the-small-business-loans-on-the-mintos-platform/.