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Post by nesako on May 22, 2017 12:22:16 GMT
Still impossible to contact with them by EMAIL Come on Lenndy, WAKE UP!! Did you try hello@lenndy.com?
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Post by nesako on May 21, 2017 9:29:50 GMT
@nesako: Why backdoor? What other purpose was for "minimum funds in account" if not for prioritising rules? Also, your requirement is different from mine. You want to prioritise by max limit, I want to prioritise by the interest rate. This is different This answer is covered to the point above by kulerucket. I would also prioritise portfolios by interest rate but limited to max investment per one originator (if two originators both offer 12% and all your money goes to the same originator, you do not get diversification), but I would not allow cash drag.
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Post by nesako on May 20, 2017 21:37:49 GMT
From my point of view, they have closed the unintentional "back door" to being able to prioritise portfolios. What I (personally) need is officially supported Portfolio prioritisation feature, so:
Fill Portfolio A to Max limit if any loans available, if not: Fill Portfolio B to Max limit if any loans available, if not: Fill.... well you get it
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Post by nesako on May 18, 2017 20:17:33 GMT
Not knowing where to put 100K... if only I had these sort of "issues" hehe
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Post by nesako on May 17, 2017 15:28:00 GMT
Anyone want to send a referral link my way? Link sent Oh man, you leave no chance for anyone else to send their links, I expect to be invited to your party once all of these referral bonuses pay out next year lol
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Post by nesako on May 16, 2017 14:53:27 GMT
So that everyone is 100% clear, here is my chat transcript for everyone to read covering the rate changes on Growth Street. In short: selecting priority rate does have a negative impact to rates:
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Post by nesako on May 12, 2017 14:53:54 GMT
Tranche 3 Results, all loans 15 days in length, purchased 27.04.2017, maturing today: Closed (Early) - 40% Closed (On Time) - 23% Delayed - 37% So, in my personal experience, most loans will be repaid early - nothing surprising, these are payday loans after all! Risk exposure - my current loan books shows that around 35% of loans will be Delayed and bought back. Hello Nesako, Thank you for giving your feedback! Delayed means both "extended" and "overdue" loans, it doesn't show the exact default rate. Default rate for KZ is below 20%. KZ market is not mature and interest rates quite high, so they could handle such level of risk. Best regards. Thanks sergeysedov, I agree with the post above - I would also want to see extended being shown different to "overdue". More pressing matters: when can we expect Russian loans to be available for investment? Since ZAIMER.RU has passed the rating procedure by major Russian rating agency, I would feel safer investing in loans from this originator. If this is not coming anytime soon, we really would like to see some financial information for the ZAIMER.KZ business, since as the previous poster have mentioned, it is currently a "black box" and does not give much confidence to put larger amounts of money in. Thanks!
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Post by nesako on May 12, 2017 8:29:47 GMT
Tranche 3 Results, all loans 15 days in length, purchased 27.04.2017, maturing today:
Closed (Early) - 40% Closed (On Time) - 23% Delayed - 37%
So, in my personal experience, most loans will be repaid early - nothing surprising, these are payday loans after all!
Risk exposure - my current loan books shows that around 35% of loans will be Delayed and bought back.
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Post by nesako on May 11, 2017 13:28:17 GMT
After posting this, I realised I can ask my friend Uldis from Mintos support ha Anyhow - if anyone is interested, it is impossible to tell and will depend on when each Portfolio check is executed. So it is all about the available loans / timing at the time your money lands. There is no such thing as "priority" on the Portfolio list (yet).
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Post by nesako on May 11, 2017 13:18:26 GMT
I do not have spare cash to test, but if say I have two portfolios: 1: Current investment: 800 / 1000 2: Current investment: 100 / 1000 If I add 100EUR and both Portfolios have matching (but different) loans, which Portfolio will invest? Just wondering if priority is given: - Oldest Portfolio (at the top)? So fill one, go on to the next one etc.
- Portfolio which has least investment
- Portfolio with lowest % fill
Anyone knows the answer?
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Post by nesako on May 10, 2017 13:55:18 GMT
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Post by nesako on May 10, 2017 12:38:10 GMT
Results for my second investment tranche (only taking into account loans which have been Purchased on the same day when I deposited new money). All loans purchased on 18.04.2017 with all having 21 day term, maturing today:
Closed / Repaid early - 70% Closed at the end of the term - 0% Delayed - 30%
I will be able to report on my third and last tranche tomorrow.
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Post by nesako on May 10, 2017 8:06:59 GMT
nesako dan1 Thanks for your replies, but they don't seem to be the same. Are my deposits spread across all loans or is it just that in the event of any default the loss will be spread across all investors whether they are in the loan or not. If the latter then it begs the question of just how and when the allocation of the loss is done, as the amounts that investors have will be fluctuating all the time. However whichever is right it would seem that there is no diversification advantage of depositing money in chunks rather than all at once. In theory, it is the latter, i.e. in the event of any loss, it is spread across all investors. Allocation of loss works by the current mechanism of every single loan being repaid and then re-allocated every 30 days. So, every 30 days, all loans "mature" and are then re-matched. Any losses are soaked up by Provision Fund currently, so all investors just get the quoted rate. In the event of there being insufficient funds in PF, automatic wind-down would be triggered where by any losses would be equally spread across all investors who were invested at the time this happened.
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Post by nesako on May 9, 2017 21:16:23 GMT
Do I need to diversify across a number of loans, or does their strange risk sharing strategy make that pointless? Regardless how much money you put, you get an equal pro-rata share of all loans on their portfolio, so there is nothing to diversity (not that you even can... everything is automated)
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Post by nesako on May 5, 2017 14:30:30 GMT
Hi all, If people are interested, I have coverage stats for the Provision Fund: 5-May-2017 - Size: £556,634 13-Jul-2017 - Size: £564,713 16-Oct-2017 - Coverage 7.4%. Size: £606,845 13-Feb-2018 - Coverage 6%. Size: £681,576 12-Mar-2018 - Coverage 5.7%. Size: £714,000 09-04-2018 - Coverage 5.6%. Size: £751,973 14-05-2018 - Coverage 4.8%. Size: £746,461
20-06-2018 - Coverage 6.2%. Size: £1,012,851 (The last default has now been covered by the Provision fund i.e. 8 Defaults/8 Claims. Founders have made an additional 450K contribution, lifting the coverage above comforting levels) 15-8-2018 - Coverage 6.4%. Size: £1,108,510 20-09-2018 - Coverage 6.5%. Size: £1,171,873 26-10-2018 - Coverage 5.9%. Size: £1,110,091 (Additional Default and a matching Claim has been covered, i.e. 9 Defaults / 9 Claims. In summary, borrower contributions for the year are currently falling short by £45,463 (ignoring tax rebates and costs), but previous founder contributions more than cover this shortage) 20-12-2018 - Coverage 3.5%. Size: £769,538(Wouw guys, many changes over the last 2 months with the blog post coverage in detail: www.growthstreet.co.uk/blog/investing/loan-loss-provision-performance. Additional default (seems fraud related) has been covered by PF, bringing total to 10 Defaults / 10 Claims.) 09-01-2019 - Coverage 3.6%. Size: £818,81414-03-2019 - Coverage 4%. Size: £991,369 (Reporting orange as we are back to 4% coverage which is above expected losses for the year already + we will continue getting more contributions every month)01-05-2019 - Coverate 3.5%. Size: £1,043,049 (As there are no new defaults, most likely it dropped due to higher lending volumes, but no additional one-off contributions to provision fund)09-07-2019 - Coverage 3.51%. Size: £1,255,594 14-11-2019 - Coverage 3.64%. Size: £1,068,556. Defaults increased to 18 with 16 Claims. 2 Claims covered by own funds to prevent the depletion of the provison fund / entering the resolution event. Founders contributed additional £350K of own funds. Expected Bad Debt increased with Actual Bad Debt currently exceeding the expected values for all years
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