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Post by toms viventor on Feb 26, 2016 15:55:10 GMT
Some great news, investors!
For all the loans added to platform from now on, the 60 day Buyback Guarantee will cover not only the principal, but also the accrued interest.
The next loan batch shall be added early next week, and the new, improved Buyback will be applied to all of the loans introduced.
Have a great weekend, Toms
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Post by tom123 on Feb 26, 2016 16:25:39 GMT
Great news! I like Viventor more and more!!!
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Post by blahetal on Feb 26, 2016 21:11:48 GMT
Some great news, investors! For all the loans added to platform from now on, the 60 day Buyback Guarantee will cover not only the principal, but also the accrued interest. The next loan batch shall be added early next week, and the new, improved Buyback will be applied to all of the loans introduced. Have a great weekend, Toms nice, will the new loans be somehow marked/highlighted in the loans listening or we have to just guess
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Post by toms viventor on Mar 1, 2016 11:14:52 GMT
Hi blahetal, Apologies for the delayed response, but now I can confirm that the new Buyback will be applied to all the consumer loans. This means that also the old loans (started before Feb 29) going 60+ days delinquent will be repurchased with the accrued interest. As for the mortgage loans - currently, the old type of Buyback is still applied for the old loans. We are in talks about changing this. Regards, Toms
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Post by webbski9 on Mar 5, 2016 0:47:22 GMT
Toms. I am trying to set up Autoiinvest.At the moment my funds are fully invested so I want to set up A/I for when my present loans expire. The system will not allow me to do this.Your help would be appreciated. Many Thanks in advance
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Post by swift on Mar 6, 2016 20:14:54 GMT
Toms. I am trying to set up Autoiinvest.At the moment my funds are fully invested so I want to set up A/I for when my present loans expire. The system will not allow me to do this.Your help would be appreciated. Many Thanks in advance Watch out with that thing. When I set the AutoInvest to 13%, it was saved as 12%. I tried 14%, it was saved as 13%. And if you save it as 13%, if you click Edit the form shows up with 12% prefilled again, so unless you correct it it will be saved as 12% and load the low-interest **** loans into your account within seconds. And indeed as you say, it does not let you put a (say) 1000 euro max if you don't have 1000 euro on the account, which is an unnecessary restriction of course. It practically disables reinvesting. All other platforms I use support this without issues.. My advice: Viventor = play money only until the bugs are out.
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Post by toms viventor on Mar 7, 2016 11:53:52 GMT
webbski9 swift Thank you for the feedback! Indeed, there have been several bugs with the AutoInvest. Some of them have been taken care of, and several others are still being taken care of. We are now working on a new, improved AutoInvest system that will allow you to set the Portfolio Size > Funds Available, as well as several other features. Apologies for the inconvenience, and we will be updating you as soon as the new version goes live. And do let me know, if there is something else we can assist with! Toms
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Post by swift on Mar 7, 2016 13:26:52 GMT
Thanks Toms for responding.
Pro-tip: ask your engineers about automated UI testing...
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Post by swift on Mar 7, 2016 21:47:51 GMT
And do let me know, if there is something else we can assist with! Toms Well, actually...the AutoInvest went ahead and bought those 12% loans for all my credit as I explained, but now it seems to be "in limbo": no money is left to invest in loans, but still I don't own any loans. "Funds invested" is a positive number and exactly what I expected, but "Account statement" is completely empty. "My investments" is also empty... It could be that the loans are not valid yet, or not completely sold yet, or something else. But don't present it like this, people might think that they lost money. edit: Fixed. It seems that Vivento's AutoInvest feature reserves the money you let it manage. Never seen a bidding bot do that, but that's the answer.
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Post by toms viventor on Mar 7, 2016 22:11:20 GMT
swift, this sounds strange. Can you please identify yourself at support@viventor.com, or send me DM here? Thanks! Toms
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Post by webbski9 on Mar 7, 2016 23:42:29 GMT
Thanks Toms,I await the improved A/I
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Post by swift on Mar 8, 2016 12:06:42 GMT
swift , this sounds strange. Can you please identify yourself at support@viventor.com, or send me DM here? Thanks! Toms I took it up with support, thanks.
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Post by dtails on Jun 22, 2016 8:35:00 GMT
Hello Toms, your site looks interesting. Can I ask you a few questions?
1) You say that there is a buyback for both the original loan and the interest. Sounds good, but is this sustainable? I understand that Viventor do not originate the loans, this is done by underwriters, but can they sustain all the losses this might entail? You could say, why should I care, but I only want to to make sure that Viventor will be here next year, and the year after that. Sorry to ask, but what happens to the capital invested, if Viventor goes away? 2) I understand that the loans are from Spain. I have had some (not so great) experience with Spanish loans on Bondora, but just to clarify - all defaulted loans plus accrued interest will be bought by Viventor at 60 or 180 days? Is this now standard procedure on Viventor, or only for the time being? 3) I also need to ask, what is Viventor's interest in buying the defaulted loans from investor's, if all they do is buying loss-making loans? I guess I am asking, is it worth the trouble for Viventor?
Looking forward to your answers, Jens
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Post by toms viventor on Jun 23, 2016 10:31:58 GMT
Hi Jens,
Glad to hear about your interest, and thanks for the questions.
1) Spot on question. As you are correctly stating, we do not originate any loans ourselves. Instead, we leave that expertise to the lending companies we work with. For example, a mortgage lender in Spain receives an incoming lead, does the scoring of client, values the underlying asset (with a third party appraiser), and all the other actions. Then they lend their own money. Only after that is done, the loan is listed on Viventor. So let's now imagine they wouldn't list the loan on Viventor. Their "Provisions for bad debts" are still the same. Essentially by offering Buyback Guarantee, the lenders don't expose themselves to additional risk. In the unlikely case of Viventor going belly-up, Finstar Financial Group, our stakeholder, will take over. Also, the assignment agreements are between you as an investor and the lending company directly.
2) Viventor will not buy the loans back. The lender will. It has been as such since the early days, and we don't see it going away in foreseeable future. While we may introduce more risky loans with higher returns, we will certainly keep loans that are much more of a safe bet. 60 Days after the projected end date is when a loan is bought back, along with accrued interest and late fee, if the borrower has not paid.
As for Bondora - well, I am not the person to comment on their operations and approach with respect to Spain or any other country for that matter. But it is hard to imagine in the first place - how can a company imagine successful lending business without at least some local presence & strong market knowledge. All I can say is that our lender has it, and we have witnessed it ourselves many times over. Moreover, unlike in Bondora, our lenders risk their own money first of all, thus it is a completely different ball game.
3) This very much overlaps with the answer to your Q1. Viventor is not buying any non-performing loans, but the Lender is. And it is anyways a risk they had accounted for. Let me know if you have any further questions on this though!
Hope this helps you to understand our business better. Should there be any other questions, I'm at your service!
Wishing a pleasant Midsummer celebration, Tom
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Post by dtails on Jun 26, 2016 9:34:56 GMT
Hi Toms, thank you for your very thorough reply. I appreciate it. I understand what you are saying, but just find it amazing that all non-performing loans have this Buyback Guarantee, including both loan and interest. That, basically is a free lunch for lenders. We will really get 10-12% P.A. with no risk whatsoever?
If you can honestly answer yes to that question, then I am ready to invest!
By the way, this goes only for short-term consumer loans, not mortgage-backed loans, right? Thank you, Jens
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