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Post by martins on May 28, 2016 16:08:53 GMT
We have been adding a lot more information about each of the loan originators. Investors can find financials, fact sheet, and investor presentation for most of the loan originators here: www.mintos.com/en/loan-originators/ To bring further transparency we will continue developing this section and add more information as we receive it from the loan originators. |
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Post by aceman on May 30, 2016 19:50:46 GMT
Thank you Martins.
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jo
Member of DD Central
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Post by jo on Jun 20, 2018 12:02:27 GMT
Hi Martins martins Sorry to resurrect an old thread - may I enquire: Assuming you have an (either internal or statutory) accreditation process for originators, do originators make a financial contribution towards the cost of the process? Thanks |
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Post by martins on Jun 20, 2018 17:15:22 GMT
Thank you for your question. But I'm not sure I understand what you mean though by accreditation process. Can you please ellaborate?
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Post by rahafoorum on Jun 21, 2018 5:24:38 GMT
Thank you for your question. But I'm not sure I understand what you mean though by accreditation process. Can you please ellaborate? I believe he means the vetting process of new originators that are added to the platform.
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Post by kissmyjazz on Jun 21, 2018 9:27:14 GMT
Mintos functions as a stock exchange of sorts. It should require all listed originators to provide periodic financial reports and disclosures in a timely manner.
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jo
Member of DD Central
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Post by jo on Jun 21, 2018 11:23:47 GMT
The reports of the originators are available on the Mintos website I believe. I was wondering more along the lines of whether Mintos performs due diligence on the procedures of their originators - sourcing/monitoring/collection etc - and whether a contribution to the costs of such an activity is sought. martins |
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Rob
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Post by Rob on Jun 22, 2018 6:34:17 GMT
Mogo appears to have changed the interest/penalties that they pay on overdue loans - all of the Mogo originators now pay NO Income Interest on Delayed Payments and NO Penalty Income: www.mintos.com/en/loan-originators/mogo/#detailsmartins Does this change in policy affect loans bought before this change? |
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fric
Member of DD Central
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Post by fric on Jun 22, 2018 7:49:01 GMT
Mogo appears to have changed the interest/penalties that they pay on overdue loans - all of the Mogo originators now pay NO Income Interest on Delayed Payments and NO Penalty Income: www.mintos.com/en/loan-originators/mogo/#detailsmartins Does this change in policy affect loans bought before this change? Oh, wow, thanks for bringing this up m8. I'll surely be looking into other originators now and removing Mogo from my auto-invest strategies.
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Post by kissmyjazz on Jun 22, 2018 12:19:57 GMT
Huh, that is such bait and switch! Old contracts should be honored.
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Rob
Posts: 138
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Post by Rob on Jun 22, 2018 14:26:19 GMT
Mogo appears to have changed the interest/penalties that they pay on overdue loans - all of the Mogo originators now pay NO Income Interest on Delayed Payments and NO Penalty Income: www.mintos.com/en/loan-originators/mogo/#detailsmartins Does this change in policy affect loans bought before this change? I contacted support. They say that only loans bought after the change are affected (but I don't know the exact date the change was made). It's strange that they didn't e-mail everyone about this significant change, the same way they do when a new loan originator enters the platform!
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Post by geldregiertdiewelt on Jun 25, 2018 21:45:09 GMT
What's more: I think I noticed that the average interest rates offered came down by 1% or more in the past 4 weeks, across all major loan originators.  |
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sb
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Post by sb on Jun 26, 2018 6:24:15 GMT
Mogo appears to have changed the interest/penalties that they pay on overdue loans - all of the Mogo originators now pay NO Income Interest on Delayed Payments and NO Penalty Income: www.mintos.com/en/loan-originators/mogo/#detailsmartins Does this change in policy affect loans bought before this change? I don't think this is a big deal. The Mogo loans in my portfolio have on average 36m term and the impact on IRR should be a fraction of %. For the short date loans it would be huge.
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Rob
Posts: 138
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Post by Rob on Jun 26, 2018 9:46:30 GMT
Mogo appears to have changed the interest/penalties that they pay on overdue loans - all of the Mogo originators now pay NO Income Interest on Delayed Payments and NO Penalty Income: www.mintos.com/en/loan-originators/mogo/#detailsmartins Does this change in policy affect loans bought before this change? I don't think this is a big deal. The Mogo loans in my portfolio have on average 36m term and the impact on IRR should be a fraction of %. For the short date loans it would be huge. If all repayments are delayed by, say, 50 days each month, then you will receive no interest on the repayments due for 50 days. This is like having cash-drag of 50 days - doesn't sound too good when put like that!
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sb
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Post by sb on Jun 26, 2018 20:51:57 GMT
I don't think this is a big deal. The Mogo loans in my portfolio have on average 36m term and the impact on IRR should be a fraction of %. For the short date loans it would be huge. If all repayments are delayed by, say, 50 days each month, then you will receive no interest on the repayments due for 50 days. This is like having cash-drag of 50 days - doesn't sound too good when put like that! In the worst case all the payments are delayed by 2m. You can think of the loan as starting in two months but you invest money now and don't receive any interest for 2m. You lose around 2% (assuming 12% per rate). For a 3y loan that is annualised loss of 0.7%, In my portfolio 25% of loans are delayed, which reduce the loss further to 0.1-0.2% for the whole portfolio.
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