0risk
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Post by 0risk on Nov 7, 2016 12:28:43 GMT
I've had lots of early repayments on 05/11/2016, from Lendo. I'm not complaining. The loans were 11%+, and now we have some 12%+ from Lendo themselves. And I know it's ok for them to rebuy early, but I just wanted to understand more about this.
So, why do they rebuy early? is there a reason to worry about?
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Post by buttchopf23 on Nov 7, 2016 13:10:08 GMT
Maybe they wanted to lower their overall overdue figure
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Post by extremis on Nov 7, 2016 15:05:39 GMT
I think early repayment means that the borrower repaid in full the outstanding loan prior to the date scheduled; it is not a Loan Originator's decision. According to the terms, borrowers have this right. So, maybe borrowers had the money and decided to pay earlier (in order to avoid any future interest payments), nothing to worry about imho.
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0risk
Member of DD Central
Posts: 217
Likes: 202
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Post by 0risk on Nov 7, 2016 16:20:23 GMT
I think early repayment means that the borrower repaid in full the outstanding loan prior to the date scheduled; it is not a Loan Originator's decision. According to the terms, borrowers have this right. So, maybe borrowers had the money and decided to pay earlier (in order to avoid any future interest payments), nothing to worry about imho. Thanks.
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benaj
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Post by benaj on Mar 26, 2019 10:24:25 GMT
I haven't been Mintos for long, only 4 months. I am surprised the high number of loans rebuy. So far, I have invested in 304 non short term terms and 101 of them have been repaid for rebuy in less than 4 months.
There are different reasons for rebuy / "finished prematurely"
-Agreement Prolongation -Agreement Amendment -Agreement Termination -Rebuy purpose rebuy -Other
The interesting about those loans, average loan term for those rebuy is 12 months, and average length of investment is just 32 days. Not really complaining for these borrowers finishing loans early, but couldn't understand why so many loans from different originators, about 1/3 of them get repaid so early.
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cwah
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Post by cwah on Mar 27, 2019 0:24:26 GMT
I haven't been Mintos for long, only 4 months. I am surprised the high number of loans rebuy. So far, I have invested in 304 non short term terms and 101 of them have been repaid for rebuy in less than 4 months. There are different reasons for rebuy / "finished prematurely" -Agreement Prolongation -Agreement Amendment -Agreement Termination -Rebuy purpose rebuy -Other The interesting about those loans, average loan term for those rebuy is 12 months, and average length of investment is just 32 days. Not really complaining for these borrowers finishing loans early, but couldn't understand why so many loans from different originators, about 1/3 of them get repaid so early. I had the same. But a big chunck of them come from cheaper financing alternative. Such as Mogo getting bonds and similar to EBV. Got sometimes big chunck of repayment all of sunden
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walktall7
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Post by walktall7 on Mar 29, 2019 7:57:16 GMT
For the initial period of me investing in 20month to 36month loans I got alot of my loans bought back. After some six months most of the people who never were going to pay these loans have gone from my investment in Minto's and then the number of loans being bought back dramatically went down for me.
On top of this Mogo got there big borrowing from elsewhere so they bought many many of the highest interest loans which were being paid on time and left us with the people who were often paying late. See thread 21down on this tread page which had the quote below
This week I have only three loans bought back from my investments made onto Mintos in July 18 when I made my first investments onto Minto's. Currently I am withdrawing. my money as it becomes available
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Post by hugoncosta on Mar 29, 2019 10:44:45 GMT
It's part of the game imo. As long as you have the autoinvest algos working, yes, you might be "forced" to buy loans with a lower interest rate, but that's just how it is.
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benaj
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Post by benaj on Mar 29, 2019 11:05:58 GMT
It's part of the game imo. As long as you have the autoinvest algos working, yes, you might be "forced" to buy loans with a lower interest rate, but that's just how it is. I don't like some of the loans bought by autoinvest, sometimes they don't buy the longest short term loan.
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Post by hugoncosta on Mar 30, 2019 11:51:53 GMT
100% with you, hate how it works. Besides not buying the longest, sometimes it even buys those with a low interest rate (happened a ton of times my Dinero autoinvest buying 13 and 13.5 when there were 14% in the market). I wish they had an API so I could do the autobuying profiles myself.
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Post by glensm on Apr 8, 2019 10:47:20 GMT
To be fair, Mintos' autoinvest is pretty granular. Of course it could be improved and made even more so, but more complex isn't the only answer.
If you want longer short-term loans (i.e. avoiding 7 day loans or whatever) you might try doing from 30 days to 60 days (or whatever).
I haven't had a problem with it but have noticed that rates are lower where investors mostly want to buy up short term loans, driving rates down, so even going to 6 months you'll get ~10% or so with quality lenders.
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