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Post by saraph on Oct 1, 2016 10:27:16 GMT
Ok, I'm sure this is not news for many of you, but today I noticed there's 0 13.5% loans with buyback guarantee on the primary market. Seems like those 15% without guarantee are selling well. Buyback guarantee please come back.  |
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Post by buttchopf23 on Oct 1, 2016 11:56:02 GMT
My guess: they dont come back
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Post by extremis on Oct 1, 2016 15:46:54 GMT
Unfortunately, that's my guess too; if they can sell loans at roughly the same rate without buyback, why offer the buyback guarantee?
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Post by buttchopf23 on Oct 1, 2016 16:05:18 GMT
unfortunately..... makes life easier and cheaper for them.
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yacop
Posts: 68 
Likes: 42
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Post by yacop on Oct 1, 2016 20:19:59 GMT
As Mintos or Mogo have not presented independent information on their recovery success I assume that Mintos/Mogo will go the same way as Bondora: Hide the truth as long as possible. I believe that we will see a changr in investor's sentiment.
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Post by kissmyjazz on Oct 2, 2016 0:17:50 GMT
I strongly advise against investing in Mogo loans without the buyback guarantee. I think the return rate stated by Mogo/Mintos is inflated and Mogo generally issues loans to the bottom of the subprime sector, so many loans are complete junk.
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fric
Member of DD Central
Posts: 199
Likes: 79
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Post by fric on Oct 2, 2016 7:09:04 GMT
keep an eye on ltv guys. Quite a few have close to 100% which is risky, but with like 50-60% should be a lot safer in case of default.
They still are secured loans unlike bondora, so with decent ltv it shouldnt be that much of risk imho.
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Post by kissmyjazz on Oct 2, 2016 7:54:00 GMT
Please look at the cost of recovery of defaulted Mogo loans in the separate thread here on the forum. It is quite significant. www.p2pindependentforum.com/thread/6652/default-trackerOn Bondora the similar risk class loans are offered at 30 + % interest rate. 13% loan secured by some overpriced 10 year old car is only weakly secured for me. In this situation I would actually invest in the Bondora loan. |
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fric
Member of DD Central
Posts: 199
Likes: 79
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Post by fric on Oct 2, 2016 8:27:07 GMT
Please look at the cost of recovery of defaulted Mogo loans in the separate thread here on the forum. It is quite significant. www.p2pindependentforum.com/thread/6652/default-trackerOn Bondora the similar risk class loans are offered at 30 + % interest rate. 13% loan secured by some overpriced 10 year old car is only weakly secured for me. In this situation I would actually invest in the Bondora loan. Still very limited info atm - better an old car collateral than a bondora loan that makes 0 repayments on their 10k loan and 0 collection.
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Post by buttchopf23 on Oct 15, 2016 7:02:41 GMT
new mogos with buyback online,,rates from 9.5 to 10.5, what a joke
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vko
Posts: 19
Likes: 2
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Post by vko on Oct 15, 2016 7:20:07 GMT
Secured Car Loan Estonia Mogo 22 13 m. - 61 m. 9.0% - 10.5% € 52 534
Secured Car Loan Latvia Mogo 13 12 m. - 61 m. 13.0% - 14.5% € 26 877
Secured Car Loan Lithuania Mogo 29 7 m. - 61 m. 9.0% - 10.5% € 50 759
According to the daily summary, actually as low as 9.0%. No deal...
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yacop
Posts: 68
Likes: 42
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Post by yacop on Oct 15, 2016 7:39:00 GMT
new mogos with buyback online,,rates from 9.5 to 10.5, what a joke it appears that they are bought heavily bv investors. Some seem to be satisfied.
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Post by buttchopf23 on Oct 15, 2016 10:48:55 GMT
Not good...
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vko
Posts: 19
Likes: 2
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Post by vko on Oct 19, 2016 8:22:06 GMT
Now down to as low as 8.5%.
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Post by littleinvestor on Oct 19, 2016 10:23:59 GMT
Plenty of 11.8% long duration available on SM with discount (0.0 or -0.5 in ongoing status, not late). I invest in those when my AI does not find short term loans
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