Two days ago I opened a Viventor account. Now I am not new to investing, but investing in credit loans is new to me. As the information about trading (is that the correct jargon in this case?) in secondary market is very little, I am going to ask it here.
If I log in on Viventor and I choose secondary market, I see a list of loans that have passed maturity date, When I clcik on the loan I see in the main frame on top of the loan it has the status "current" but if you click "payment schedule" it says "delayed". What is the use of investing in expired loans?
Or am I misunderstanding how investing in secondary market works?
Well OK, but that was not quite what I meant with my question. BTW it looks like the bug is squatted.
In the attachment you see a screenshot of a loan. Payment status: delayed Maturity date 29 April 2016. So it's expired. But apparently the borrower hasn't paid the last (or more) payment terms. Now because the loan is actually expired I wonder why I still can invest in it.
As I told in my first post: I am totallly new to this kind of investment, so a speed course would be nice. I can't find much about it. I am familiar with the stock- and option market (and bonds, which are actually loans, too). But not with credit loans, I like to know what I am doing. All I understand is that I will lend money and that I get interest back. And my investment after the final term.
Indeed, the particular borrower has failed to make repayments on time.
You can still invest in it, because the Late Fee is calculated and paid in any case.
Since you are new to Viventor, I will tell you a bit more about what we offer. All the loans currently listed on Viventor platform are with 60 day BuyBack Guarantee, that covers principal, interest and late fee.
What this means? This means that all loans are secured with this guarantee, and if a borrower fails to make repayments 60 days after the due date, the loan will be bought back. This results in all investors having a share in this loan will receive back their investment, plus the interest for the original loan period, plus the late fee for the delay period.
For example, if you invest in a loan that is 45 days past due, and the Buyback is enforced 60 days past due, you will receive Late Fee for 15 days, which is the period you have been holding the loan part for.
If you would find a personal call useful, I am happy to answer all your questions. My e-mail is toms[at]viventor.com.