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Post by bkracan on Sept 7, 2016 7:14:31 GMT
In twino you have a lot of loans for 13% with buyback and 6m term...
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Post by buttchopf23 on Sept 7, 2016 10:49:27 GMT
nobody can blame them for trying to get lower funding.. Investors seek higher Returns, loan originators as well and they achieve that with lower funding costs or higher interest rates paid by ther Clients... below 12%, nothing catches my Attention. there is plenty of other platforms with better Returns.
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Post by saraph on Sept 7, 2016 12:09:43 GMT
Once Mogo starts doing that, we're screwed.
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Post by jackp2p on Sept 7, 2016 12:39:36 GMT
Hi!
As far as I am concerned, p2p lenders are not allowed to work as banks. By working as a bank I think taking money as a deposit on low %, and issuing it as loans on higher % to clients/or lending companies.
P2P company should be based on earning fees for selling loan "rights" to an investor. So you should recieve all the income from a client. If he pays 10%, you should get 10%.
A situation should not be allowed where client pays 50% per year, and you recieve only 10%, that would require banking licence in most EU countries.
Please correct me if I am wrong.
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Post by wiseclerk on Sept 10, 2016 15:13:23 GMT
Hi! A situation should not be allowed where client pays 50% per year, and you recieve only 10%, that would require banking licence in most EU countries. Please correct me if I am wrong. A spread like that already is the reality with the Mogo, Banknote, Lendo, Creamfinance, Creditstar loans at Mintos as well as the buyback secured loans at Twino and most loans at Viventor
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Post by jackp2p on Sept 12, 2016 7:11:50 GMT
Whoa, so is it leagal at all ?
This is real P2P - Zopa - "Zopa makes money by charging a low, transparent fee. There are no hidden charges or sneaky clauses so our lenders and borrowers get a good deal."
Wiki - "The lending intermediaries are for-profit businesses; they generate revenue by collecting a one-time fee on funded loans from borrowers and by assessing a loan servicing fee to investors" (Peer-to-peer lending)
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Post by Ton ⓉⓞⓃ on Sept 12, 2016 7:31:45 GMT
Whoa, so is it leagal at all ? This is real P2P - Zopa - "Zopa makes money by charging a low, transparent fee. There are no hidden charges or sneaky clauses so our lenders and borrowers get a good deal." Wiki - "The lending intermediaries are for-profit businesses; they generate revenue by collecting a one-time fee on funded loans from borrowers and by assessing a loan servicing fee to investors" (Peer-to-peer lending) The interest rate can be taken for a proxy of risk. When a new p2p platform launches they all seem to invent a new way of doing p2p, in that regard there are no rules. (for rules search 36H loan)
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Post by firefly777 on Sept 12, 2016 8:08:49 GMT
....Lendo now @ 10.0 % in 6 days Lendo went from 11.1 to 10.0 %
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Post by buttchopf23 on Sept 12, 2016 8:18:11 GMT
and in 2 months from 14 to 10%, wow. I stopped to buy these loans when they went below 12%. at viventor there are enough loans available at 12%...
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vko
Posts: 19
Likes: 2
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Post by vko on Sept 16, 2016 14:56:29 GMT
Today back to 11.1%. But probably because they're selling thousands of loans. At the moment 3391 available only from Lendo.
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Post by guggaburggi on Sept 16, 2016 22:49:28 GMT
Do they really have that many customers? I mean they are founded this year. Smells fishy
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Post by firefly777 on Sept 17, 2016 6:51:45 GMT
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Post by buttchopf23 on Sept 17, 2016 11:46:10 GMT
Nearly 500k... are these all loans from last week with 10%? Hopefully they don't get funded.
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Maestro
Member of DD Central
Posts: 87
Likes: 24
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Post by Maestro on Sept 17, 2016 16:20:59 GMT
martins when are we going to see Lendo's financial reports? They have 16 branches, and assuming each open for 8 hours per day, they have to be issuing (distributing) a new loan every 2 minutes to get to 4026 loans in a day! I understand this may be over multiple days, but seeing a lot of loan volume come from Lendo. Almost 7K loans in the last 5 days. We need to get a better handle on their financial position, given that we are relying on their guarantee. I rather see more volume from CreditStar (which seem to be a trickle and my auto invest is not getting any share) or BankNote (which are not issuing on Mintos anymore).
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Post by janis on Sept 19, 2016 9:27:25 GMT
Hi Maestro, Lendo was founded in 2016 and has not produced an annual report yet. It will be published on Mintos website under Loan Originators section once such report is produced (end of Q1 2017 most likely). As for origination capacity of Lendo, date of listing can and often is different from date of issue. Lendo decided to list a larger batch of loans on September 16th that it had issued over time. You can filter their loans on primary market by issue date to see how much of listed loans were issued on a given date.
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