fric
Member of DD Central
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Post by fric on Sept 19, 2016 11:30:34 GMT
Once Mogo starts doing that, we're screwed. Mogo has actually gone the other way - I still have some 10.7% old ones (with buyback), and they have slowly increased to 13.5% (with buyback) over the past year or so.
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Post by buttchopf23 on Sept 19, 2016 13:14:38 GMT
is the Duration the same?
and yet they are going to offer more and more loans without buyback
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fric
Member of DD Central
Posts: 199
Likes: 79
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Post by fric on Sept 20, 2016 9:26:41 GMT
The duration for Mogo loans (with buyback) have gone up from ~60m to ~70m. There are currently 1093 loans with buyback on the primary market and 1370 without buyback. So yeah, that might be the trend that we will see less buyback loans overtime...
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Maestro
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Post by Maestro on Oct 15, 2016 10:56:25 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. Hi janis , martinsSince Lendo are less than 12 months old, have no financial statement, can mintos share what kind of due diligence was performed on Lendo? They have only 16 shops (as disclosed in the presentation) and no online origination, can you clarify how they managed to list/issue 9964 individual loans in the last 7 days? Volume was previous week was similar. Has mintos performed any audit of their lending process? Until mintos can provide more information on this loan originator, I will be switching off my lendo auto-invest and reducing my small exposure.
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Post by Sykynka on Oct 18, 2016 14:53:17 GMT
Do you have some experience with Lendo buyback? It seems a lot of their loans are delayed.
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Post by falconet on Oct 18, 2016 16:23:22 GMT
I had 2 BB's from Lendo as recently as today.
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Post by buttchopf23 on Oct 19, 2016 11:08:11 GMT
Well, if mintos and lendo are linked as written in the warning thread, it would make more sense as why they allowed lendo to get funding on their plattform without the documents. They would have an in-depth view.
this is just a hypothetical thought, I don't know if its true
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Post by janis on Oct 20, 2016 6:16:21 GMT
Hi Maestro, Mintos performs thorough due diligence on each prospective loan originator where we check its finances, business processes, background and experience of the management team. Lendo is no exception. As for the number of loans listed, Lendo lists its loans in batches. Loans listed on the platform on October 9th-15th were issued over a period of three weeks. In line with its strategy, Lendo has increased its number of branches to 26. Process-wise, consumers can apply for Lendo loans online and then receive the loan in the branch. This significantly improves time needed to service each customer at the branch – and, more importantly, decreases fraud risk. Branches are fully staffed with on average 3-4 employees servicing the clients at any moment in each branch. This allows Lendo to service a significant number of customers per branch. Hope this helps.
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