p2pmark
Member of DD Central
Posts: 217
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Post by p2pmark on Jul 2, 2018 8:30:32 GMT
Impressed so far but nervous about putting in too much when not regulated Regulation closed Collateral so not much benefit to investors there! It was NOT being regulated that led to Col being closed. Mintos is one of the higher risk platforms out there because of the lack of regulation. (Unless you know a decent amount about Latvian finance regulation.)
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toffeeboy
Member of DD Central
Posts: 505
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Post by toffeeboy on Jul 3, 2018 11:36:52 GMT
Impressed so far but nervous about putting in too much when not regulated Regulation closed Collateral so not much benefit to investors there! Claiming to be regulated when not regulated closed Collateral.
Regulation doesn't mean that your money is protected like a bank though. The difference with mintos is that they are just an agent for the actual loan providers so you can diversify across lenders on Mintos as well
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elliotn
Member of DD Central
Posts: 3,063
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Post by elliotn on Nov 2, 2018 8:35:09 GMT
Every loan issuer except Eurocent has always honored buybacks, to date. I filter for buyback, fully amortizing, current, less than 24 months, and an interest rate above my target IRR. You might also want to consider platform diversity and look at other platforms. Assetz is among my favorites with their 30day QAA at present. I’m just having a 1st look at Mintos. Re Eurocent, does anyone know if the loans were structured as “direct” (ie “p2p”) or “indirect” (ie via Eurocent)? That Mintos submitted a bankruptcy claim on behalf of lenders means it should be “indirect” as for “direct” the loans should run down (similar to U.K. living will).
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Post by rahafoorum on Nov 2, 2018 18:49:34 GMT
Every loan issuer except Eurocent has always honored buybacks, to date. I filter for buyback, fully amortizing, current, less than 24 months, and an interest rate above my target IRR. You might also want to consider platform diversity and look at other platforms. Assetz is among my favorites with their 30day QAA at present. I’m just having a 1st look at Mintos. Re Eurocent, does anyone know if the loans were structured as “direct” (ie “p2p”) or “indirect” (ie via Eurocent)? That Mintos submitted a bankruptcy claim on behalf of lenders means it should be “indirect” as for “direct” the loans should run down (similar to U.K. living will). Not entirely sure about how the legal proceedings would go, but Mintos would have to submit a claim in either case. The entire loan book goes to the bankruptcy process and I assume that Mintos would have to let them know which loans are not part of bankruptcy assets. Especially since even the claims sold on Mintos are partially still owned by Eurocent. It's even more complicated because the loan interest rate is higher than the rate sold to investors on Mintos, so here's another interesting question that's good to follow.
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stevio
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Post by stevio on Nov 2, 2018 20:48:37 GMT
Every loan issuer except Eurocent has always honored buybacks, to date. I filter for buyback, fully amortizing, current, less than 24 months, and an interest rate above my target IRR. You might also want to consider platform diversity and look at other platforms. Assetz is among my favorites with their 30day QAA at present. I’m just having a 1st look at Mintos. Re Eurocent, does anyone know if the loans were structured as “direct” (ie “p2p”) or “indirect” (ie via Eurocent)? That Mintos submitted a bankruptcy claim on behalf of lenders means it should be “indirect” as for “direct” the loans should run down (similar to U.K. living will). Dont know, but your evaluation of a platform/loans is always worth a listen if your willing to share (even if I dont always follow the accountancy terminology or acronyms
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