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Post by extremis on Jun 8, 2019 21:55:10 GMT
I don't think they have really changed anything; more likely there is a temporary problem or they are in the middle of a system update or something like that. Anyway, i hope it will soon be back again as i don't like it either.
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Post by extremis on Mar 7, 2019 9:57:01 GMT
You must be a special customer, as I don't even get responses from their support team within less than 4 or 5 days. My experience is that Mintos have the worst customer services/support from all the other P2P platforms I am using. Well, i am not investing in other p2p platforms and i have not contacted them the last few months (if that matters), but my experience with Mintos support has always been great. I was usually getting a response the next business day and my problem was always solved.
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Post by extremis on Feb 3, 2019 17:36:38 GMT
This is certainly bad news. P2p lending is a (very) high risk investment and regulation could be used to somehow mitigate this risk. I have read FCA's final report and it looks like Mintos has not taken all the appropriate actions to comply with FCA rules. Since those rules are intended to protect us (investors) in case things go south, am i correct to assume that investing in Mintos carries more risk than investing in other FCA regulated platforms?
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Post by extremis on Jan 2, 2019 14:38:20 GMT
Have you solved this problem yet? Please keep us informed, as being able to make transactions from/to Mintos is a crucial matter.
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Post by extremis on Dec 22, 2018 15:31:40 GMT
If i were you, i would be more concerned about withdrawing funds from Mintos. After all, if they don't accept your hard earned money, i am sure you can invest it elsewhere. But if you are not allowed to deposit, then the chances are that you will not be able to withdraw your money either. I have verified my account with driving licence and i have made several deposits/withdrawals, never had any problems so far. I remember there used to be a note at their withdraw page, saying that my identity is verified as relevant documents have been uploaded, so i can make a withdrawal. I just checked and this note is missing, should i also worry?
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Post by extremis on Nov 18, 2018 14:11:07 GMT
I am unable to access Mintos website for several hours now; there is no maintenance notice as usual. Am i the only one?
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Post by extremis on Aug 9, 2018 12:49:25 GMT
The diversification campaign ends on August, 12. Since investors participating in it actually buy loans at any interest rate, loan originators are inclined to lower the rates. So, imo the end of campaign is a positive sign that rates could go up again. Of course, the general trend in p2p lending is lower interest rates, so we might not see 14+ interest rates for buyback guaranteed loans again. Anyway, i will wait (at least) a few more days before i make a decision to withdraw any money from the platform.
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Post by extremis on Jul 24, 2018 9:48:22 GMT
let's face it, a storm is coming in the financial world, all of those P2P investment in which I am also heavily involved will crash..all the individuals borrowing at those rate will be the first one to go down when the market turn..and it will turn as it always does. Yes, there will always be a downturn, but what are the signs that make you think it will be in the near future? Also, even in an economic downturn, there is still a good chance that some p2p platforms will survive (Zopa did in the last economic crisis). Of course, if an economic downturn is imminent, then you are right, it is much safer to withdraw all money from p2p investments and deposit them in a bank account.
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Post by extremis on Jul 17, 2018 23:08:45 GMT
As you have said you have stopped buying their loans and that is your right because you don't like their terms but why did you buy them in the first place if you didn't like what could happen? Well, i guess i didn't expect they would (ab)use their buyback rights to such extent (was a newbie at that time). Now i know better, so i will be more careful with all loan originators that don't offer buyback guarantee. Also, i never said they have violated any terms, if they had i would have surely complained to Mintos (and hope many others would have too). I think this forum is very useful for exchanging views and reporting our experiences (both positive and negative) in p2p lending. This way we can stay informed and help each other in making better investments (and perhaps give a warning to newcomers in p2p lending). Btw, they have done it again. But this time, i don't really care as there is not much left of Hipocredit's loans in my portfolio (except a couple of defaulted ones).
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Post by extremis on Jul 15, 2018 11:41:33 GMT
Today and yesterday Hipocredit has exercised its buyback rights again. .... In my opinion, Mintos should forbid loan originators to buyback loans without a buyback guarantee. Until that happens (if ever) i will stop buying loans without a buyback guarantee from any loan originator. Buyback is just part of what we signed up to. Not very professional to complain when it happens. Of course. I didn't mean it as a complaint though; just a suggestion to Mintos regarding loan originators that issue loans without buyback guarantee. A note about professionalism: i don't need to be professional, i am just a guy investing my hard earned money. The companies that take my money should be professional. As for Mintos, until now, i am very satisfied: they are truly professional and responsive, i hope that will never change. But for loan originators i have mixed feelings. Compare, for example, Mogo and Hipocredit: they both did i massive buyback of loans recently, but Mogo gave us (through Mintos) a prior warning several weeks ago, announced they would buyback both performing and non-performing loans and they are (mainly) issuing loans with buyback guarantee. I would call Mogo's behavior professional and responsible towards investors. I couldn't say the same for Hipocredit, i think their attitude towards investors is irresponsible and unprofessional (albeit legal), so i (as many others) decide not to invest in their loans anymore.
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Post by extremis on Jul 14, 2018 12:28:23 GMT
Mintos sold Hipocredit a year ago. At their Loan originator page it is no longer mentioned whether some of Hipocredit and Mintos equity investors overlap, so i take it they are separate entities right now.
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Post by extremis on Jul 13, 2018 19:26:51 GMT
What's surprising about this buyback is that Mogo just recently ran a pretty generous and long running cashback offer to entice people to purchase their loans. If they knew that they had some cheap funding coming on the horizon it is surprising that they would do this. Unless their success in attracting the cheap funding has something to do with the huge selloff to Mintos' investors. Also, who pays the campaign rewards, Mintos or the loan originator? If it was Mintos, they could be unaware of the forthcoming Mogo's buyback, or simply don't care about it as their primary concern is to expand (i.e. attract both new investors and loan originators to the marketplace).
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Post by extremis on Jul 13, 2018 19:11:13 GMT
Today and yesterday Hipocredit has exercised its buyback rights again. Only high interest current loans with (near) perfect history were bought back; no default or 60+ days were repurchased (from my portfolio anyway). This is the second time that Hipocredit does a massive buyback of high performing loans leaving the bad ones to investors. This behavior should not be tolerated anymore. I have stopped buying Hipocredit loans after their first huge buyback, but now i consider to also sell all their remaining loans to SM while they are still performing.
Both times there was no prior warning (not that it would make a big difference anyway). Also, this time the buyback happened just before the supposed Mogo's buyback (that has not happened yet) which was announced by Mintos a few weeks ago. I am sure this is not a coincidence. Maybe they thought that with so much money uninvested after the supposed massive Mogo's buyback they could get some funding by relisting their loans at a much lower interest rate and under the indirect scheme.
Now, if they offered a buyback guarantee it would be entirely a different story: surely we would loose the high interest rates, but the risk to be left with a non performing loan portfolio would be significantly lower. In my opinion, Mintos should forbid loan originators to buyback loans without a buyback guarantee. Until that happens (if ever) i will stop buying loans without a buyback guarantee from any loan originator.
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Post by extremis on Apr 27, 2018 16:38:29 GMT
I don't like it either. Too many changes in such a short period of time. No official explanation for the changes is offered. It looks like the banks are cautious or try to avoid Mintos. I really hope this is not the case, but it certainly looks like that.
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Post by extremis on Mar 8, 2018 0:11:59 GMT
It means that investors buying those loans will have a claim against Lendo and not the borrowers (last time i recall they also listed on Mintos a lot of loans with a direct claim against borrowers). It really doesn't make any difference if Lendo stays in business, but in case of default...
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