ales
New Member
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Post by ales on Mar 29, 2017 15:26:43 GMT
While the promotion email from Mintos regarding adding ID Finance loans on Mintos market sounds all exciting and is filled with great-technology-and-science-behind-it-sounding words, I am not at all excited about this offer. Taking it with a grain of salt, just a few points to consider about this offer:
- personal unsecured loans issued in Spain (that by itself should raise a warning for an experienced investor) - no collateral, no backing for the loan in a country known for being problematic about repayments
- ID Finance has 5 % "skin in the game" - ridiculously low for this type of loan and the market
- expected net return 11 % - low, especially for the risk of Spanish loans
- on top of the points above ... buyback guarantee?? ... The buyback guarantee is not backed by ID Finance but by the property of a limited liability company in Spain. Is the buyback guarantee backed by the chairs their staff sit on if the limited liability company owns at least the chairs? Where are the financials of the Spanish limited liability company?
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Sr. Lobo
Member of DD Central
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Post by Sr. Lobo on Mar 30, 2017 7:05:22 GMT
You have to set an autoinvest profile or buy loans in the PM. This is not Bondora.
You are confusing Bondora's fault with Spaniards attitude. That's offensive for 45 M people, included me.
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fric
Member of DD Central
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Post by fric on Mar 30, 2017 7:16:24 GMT
You have to set an autoinvest profile or buy loans in the PM. This is not Bondora. You are confusing Bondora's fault with Spaniards attitude. That's offensive for 45 M people, included me. Ofc Bondora might be a special case that their practice was/is appalling, but due to Spain's national credit rating being Lower medium grade, unemployment, huge youth unemployment, huge debt, stagnating/falling gdp etc etc - these are all valid concerns. Unsecured personal loans in Spain will always be higher risk than lets say the same loans in Germany.
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Sr. Lobo
Member of DD Central
Posts: 63
Likes: 17
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Post by Sr. Lobo on Mar 30, 2017 8:24:02 GMT
I'll try these loans as I do with every new loan originator in Mintos. After a while I can evaluate results and modify AI. I have already excluded one of the originators for my AI rules.
Mintos offers great variety of options and let you select the one you want. Competition in the platform for lenders money is another guarantee originators should try to do a good job.
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Post by littleoak on Mar 30, 2017 10:18:33 GMT
I'll try these loans as I do with every new loan originator in Mintos. After a while I can evaluate results and modify AI. I have already excluded one of the originators for my AI rules. Mintos offers great variety of options and let you select the one you want. Competition in the platform for lenders money is another guarantee originators should try to do a good job. Which loan originator did you exclude?
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Sr. Lobo
Member of DD Central
Posts: 63
Likes: 17
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Post by Sr. Lobo on Mar 30, 2017 11:07:01 GMT
I'll try these loans as I do with every new loan originator in Mintos. After a while I can evaluate results and modify AI. I have already excluded one of the originators for my AI rules. Mintos offers great variety of options and let you select the one you want. Competition in the platform for lenders money is another guarantee originators should try to do a good job. Which loan originator did you exclude? I don't like Capitalia, more 60+ & defaults than competitors for same kind of loans, although is not really bad. So I've opted out to exclude it from my AI, not including more Capitalia loans in my portfolio.
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kulerucket
Member of DD Central
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Post by kulerucket on Mar 30, 2017 11:58:24 GMT
My one and only 60+ loan is from Capitalia. Annoyingly I bought it by mistake in the first place when I missed a field out of one of my auto-investors.
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