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Post by marthaskirta on Jul 20, 2016 8:46:31 GMT
I everyone! First - I would like to introduce myself - I'm Martha and I'm responsible for the investor part of Bondora's business. From now on I will be available also in this forum to comment and answer any questions you might have. I wanted to start by giving you the overview of our latest blog post - about the management structure which consist of two members - Pärtel and Rein. Read more from our blog: www.bondora.com/blog/overview-of-bondoras-management-board/Are these insights to Bondora something that interest you? Is there any specific topic about Bondora that you would like read from our blog? Thanks. Martha |
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carlos
I'm short Bondora and long p2p.
Posts: 104 
Likes: 21
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Post by carlos on Jul 21, 2016 7:20:29 GMT
Are these insights to Bondora something that interest you? Yes, we are interested in results of 1 year of DCAs that you don't want to share... No PR (like your blog) please, but numbers... Numbers can't lie. No % of expected whatever cloaking please. There was enough of it..
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Post by marthaskirta on Jul 21, 2016 7:43:50 GMT
Hi Carlos. Can you elaborate - which specific numbers you are looking for?
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carlos
I'm short Bondora and long p2p.
Posts: 104
Likes: 21
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Post by carlos on Jul 21, 2016 15:10:48 GMT
Whatever numbers you base on your judgement to use DCAs.
In ideal case Recovered amounts and Fees paid for particular DCAs in each Country.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323
Likes: 897
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Post by JamesFrance on Jul 21, 2016 17:41:44 GMT
Hi Martha,
How can I stop Bondora sending me the ridiculous number of emails about the blog, which is just an annoying promotional exercise using stupid English jargon like "takeaways" and "wrap-up".
I cannot re-invest on Bondora until you stop showing long defaulted loans with no recovery as Profit. I see you are now writing off part of the recovery of old loans without any agreement from investors and I have previously stated that this is not acceptable, as it is in breach of the loan agreements which clearly stated that the borrower was liable for recovery costs.
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Post by marthaskirta on Jul 22, 2016 13:07:22 GMT
Hi James. Under every e-mail you receive there should be a possibility to click on "unsubscribe" link. Let me know if there is any issues.
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Post by oktaeder on Jul 23, 2016 6:46:38 GMT
Please answer on unconfortable questions too instead of using just another channel to post you marketing links. I don't need all this videos, I want a bondora I can trust and having a website shows me all infos I need and not this changes of the website every few months bringing new errors and makes it unusable for smartphones since a long time.
In fact there are many cases of write off on loans i.e. from 2013 where no DCSs are involved and that are repaying their defaults since many months.
I can't see any reasons why there should be any write offs.
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carlos
I'm short Bondora and long p2p.
Posts: 104
Likes: 21
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Post by carlos on Jul 23, 2016 19:14:20 GMT
Please answer on unconfortable questions too instead of using just another channel to post you marketing links. I'm having hard time understanding Bondora's behaviour... Why they have shown up here? They have ignored us for months and in fact they had every possible feedback needed to develop the site in their own forum. They ignored it at first, they have done many things exactly the opposite way than we wanted, they have lied to us (somebody is even feeling cheated) and after that, they just killed the forum... forcing us to move here... This is not their forum (after all it has "independent" in its name) and we should say loud that we don't want any marketing bullshit here! We won't play sheeps in another marketing channel. They are probably missing our "constructive" feedback (in fact any feedback is better than no feedback) just to show here and post here... For me its strange and I doubt that Bondora entity is really from this planet... Sometimes discussion is not possible, when both sides cannot agree on trivial 1 + 1 = 2. (Defaulted loans not showing in "Net Account profit" and so on...) Having site like Bondora registered under FCA reminds me that in pre-crisis time Moody's agency were getting millions for rating those toxic assets AAA too... 
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323
Likes: 897
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Post by JamesFrance on Jul 24, 2016 6:43:36 GMT
Hi James. Under every e-mail you receive there should be a possibility to click on "unsubscribe" link. Let me know if there is any issues. Please answer the important parts of my post. I do know how to block emails and I just wanted the excessive number of them to be reduced. Platform representatives are allowed on the forum to provide honest answers and not for marketing.
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Post by marthaskirta on Jul 25, 2016 14:21:34 GMT
Hi James. Under every e-mail you receive there should be a possibility to click on "unsubscribe" link. Let me know if there is any issues. Please answer the important parts of my post. I do know how to block emails and I just wanted the excessive number of them to be reduced. Platform representatives are allowed on the forum to provide honest answers and not for marketing. Do you refer to you the part "I cannot re-invest on Bondora until you stop showing long defaulted loans with no recovery as Profit. I see you are now writing off part of the recovery of old loans without any agreement from investors and I have previously stated that this is not acceptable, as it is in breach of the loan agreements which clearly stated that the borrower was liable for recovery costs."? If so then some time ago we built the option for investors to use the forecast settings and modify the net return based on their portfolio. It is available on our cashflow page. In terms of old loan agreements, please see the thread named write-off, I explained it there. Thank you.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323
Likes: 897
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Post by JamesFrance on Jul 25, 2016 15:02:16 GMT
I am sorry but I cannot see the forecast settings as anything other than a complete guess of a possible outcome for the many defaulted loans. Bondora have been using something called "Expected recovery" to measure our defaulted loans against, without showing what that is based on, so it is very difficult to be able to have trust in any forecast.
The multiple changes to the platform and investing processes over the last three years have been very confusing for a non technical person such as myself. I have no idea what level of return my portfolio may achieve, if any, and I believe it will be many years from now before the true result appears.
What I have seen for the last two years is an increase in defaults each month competing with interest payments received and the defaults usually winning the battle. That default figure is already reduced by any recovery of course.
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Post by gmaxkenny on Jul 25, 2016 15:57:38 GMT
Absolute bloody cheek for a Bondora representative to post on this site. They closed their own forum as they maintained very few investors were reading it and only a few were contributing to it. Now they decide to appear on this site in a sorry marketing attempt to promote their even sorrier excuse for a P2P lending site.
Maybe when you apologise for losing vast amounts of investors money in Spain and Slovakia because fraudsters found it so easy to get loans and stop issuing clearly incorrect financial information maybe then you can post here.
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yacop
Posts: 68
Likes: 42
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Post by yacop on Jul 25, 2016 18:25:47 GMT
Bondora has fallen way behind of Mintois and Twino in terms of loan volume per month, something which was unimaginable 2013/2014. Mintos and Twino are way easier to understand and simple. This is their biggedt plus. In contrast Bondora turned into a black hole of ever changing processes and guidines. Bondora did not tell the truth and misguided investors. Since 2013 the whole loan portfolio is a net loss for investors with defaults exceeding interests after taxes. Bondora agues that recovery will come, but can and will not guarantee it. Now a lot a write-offs take place reducing expected recovery.
It appears that Bondora is not able to get institutional investors aboard, which adds to my concern that Bondora is now the riskiest play among all.
I keep withdrawing as fast as possible.
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Post by marthaskirta on Jul 26, 2016 8:34:05 GMT
Bondora has fallen way behind of Mintois and Twino in terms of loan volume per month, something which was unimaginable 2013/2014. Mintos and Twino are way easier to understand and simple. This is their biggedt plus. In contrast Bondora turned into a black hole of ever changing processes and guidines. Bondora did not tell the truth and misguided investors. Since 2013 the whole loan portfolio is a net loss for investors with defaults exceeding interests after taxes. Bondora agues that recovery will come, but can and will not guarantee it. Now a lot a write-offs take place reducing expected recovery. It appears that Bondora is not able to get institutional investors aboard, which adds to my concern that Bondora is now the riskiest play among all. I keep withdrawing as fast as possible. Bondora can't be compared to Twino for several reasons but in terms of origination - Twino offers short-term loans with really high interest rate for the borrowers, so one investor full funds are invested several times during even half a year, hence increasing the volume. Our average loan duration is around 36 months and although the repayments are invested again it can't be compared with the short-term loans. In terms of Mintos - our business models are totally different, Bondora itself is the loan originator, whilst Mintos is investing investors money to several different kind of loan providers. In terms of institutional investors - you are wrong here, we have active institutional investors aboard.
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yacop
Posts: 68
Likes: 42
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Post by yacop on Jul 26, 2016 9:29:47 GMT
In 2014 Bondora made a loss equal to its turnover. Thankfully, you had secured 5 Million Euros of venture capital. Since 2015 you offloaded a lot of expenses to investors to reduce your expenses while investors are at a net loss at the moment. Since 2015 the volume per month has not increased significantly. Bondora is around 2 Million per month. I can still hear Pärtel shouting that Bondora could finance 15 Million Euros per month if the funding was available. If Bondora could, why is this not visible? Moreover, Bondora counts defaulted, maybe even write-offs (mabye even from deceased or loans in bankruptcy, who knows), as possible future cashflow. The effect overestimating your return rate by not adjusting for defaulted, uncertain and unrecoverable future principal will only appear in the future when all investor's money is spent. But maybe you will adjust your calculation once again. I would not recommend Bondora to anyone and I warn everybody that Bondora did not have a clue when entering Spain, Finland ans Slovakia. It was just purely about loan volume increase at the expenses of the investors. By when will Bondora acknowledge this? Overall, Bondora is well below expectations and is in decline compared to others. Definitely a big disappointment. I would be pleased if you could focus on increasing recovery because this is very unsure at the moment. You have a lot to recover. 36% of Loan volume in Finland, 50% in Spain and 76% in Slovakia are dafaulted and still unrecovered. From Loanbook 30th May 2016 Loan Performance per Rating and Loandate i.imgur.com/7n8DzyK.pngLoan Performance per Country and Loandate i.imgur.com/CDlHUQs.pngLoan Performance per Country,Rating and Loandate i.imgur.com/J40a65L.pngLoan Performance per Loandate i.imgur.com/NVtIMrF.pngfor comparison: Loanboack from 31st January 2016 p2pindependentforum.com/post/89274/thread |
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