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Post by nesako on Apr 29, 2017 9:13:19 GMT
I wrote to support a few days ago and was told that buyback kicks in after 60 days. So far none of my loans have reached that figure. The percentage of my loans 1-15 and 16-30 days overdue is about the same as Twino. I hope what they mean is original loan period + 30 days, since FAQ's and Terms on website clearly state 30 days. But even then, the longest loan I have is 21 days, so 21 + 30 would be 51 days max wait...
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p40l0m4r
Member of DD Central
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Post by p40l0m4r on Apr 29, 2017 10:14:52 GMT
I have added couple of hundred of new money in to see what will happen after 15 days once these new loans are supposed to pay back, at the moment all my "Current" loans are brand new, so cannot be included to stats... will report back in 2 weeks. In general, seems like way over half of all loans get delayed, pretty much would be a disastrous money loss if RoboCash one day just stopped BuyBack offer. If it was not part of the strong group of companies, I would be probably already winding down... Have you kindly some informations about which is the company that consolidate the group? I would like to search some balance informations.
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Post by nesako on Apr 29, 2017 11:03:04 GMT
I have added couple of hundred of new money in to see what will happen after 15 days once these new loans are supposed to pay back, at the moment all my "Current" loans are brand new, so cannot be included to stats... will report back in 2 weeks. In general, seems like way over half of all loans get delayed, pretty much would be a disastrous money loss if RoboCash one day just stopped BuyBack offer. If it was not part of the strong group of companies, I would be probably already winding down... Have you kindly some informations about which is the company that consolidate the group? I would like to search some balance informations. Check the post on the first page (22nd feb), there is a list of companies included in the group. I do not think there is a 'parent' company as such for all, just all of them are run by the same person.
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Post by gmaxkenny on Apr 29, 2017 12:24:41 GMT
I wrote to support a few days ago and was told that buyback kicks in after 60 days. So far none of my loans have reached that figure. The percentage of my loans 1-15 and 16-30 days overdue is about the same as Twino. I hope what they mean is original loan period + 30 days, since FAQ's and Terms on website clearly state 30 days. But even then, the longest loan I have is 21 days, so 21 + 30 would be 51 days max wait... Yes that is what I take it to mean 60 days from the date of loan issue. The borrower can extend the loan by 30 days apparently but that does not affect the buyback for investors that is between the borrower and Robocash. My first possible buyback is on the 14th of May so will see what happens.
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Post by southseacompany on Apr 30, 2017 1:23:00 GMT
Have you kindly some informations about which is the company that consolidate the group? I would like to search some balance informations. Note that the assignment agreement is with LLC Robocash (the platform company) only. I am not sure if there even is a parent company that owns the originators and the platform, but even if there is, you have no recourse to the parent's funds under the buyback guarantee, so don't feel too confident even if the parent exists and its financials are very solid. I did find numbers for Zaymer, the Russian unit, somewhere (by googling I guess; I don't have the link anymore) and computed its equity to assets ratio as 13.6%, which is broadly speaking in line with the others (almost exactly the same as VIA SMS). Unfortunately this information is of little use as it seems that Russian loans never appear on Robocash. The Kazakhstan unit, which originates all or almost all loans on the site, is a black box.
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p40l0m4r
Member of DD Central
Posts: 63
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Post by p40l0m4r on Apr 30, 2017 10:35:50 GMT
Have you kindly some informations about which is the company that consolidate the group? I would like to search some balance informations. Note that the assignment agreement is with LLC Robocash (the platform company) only. I am not sure if there even is a parent company that owns the originators and the platform, but even if there is, you have no recourse to the parent's funds under the buyback guarantee, so don't feel too confident even if the parent exists and its financials are very solid. I did find numbers for Zaymer, the Russian unit, somewhere (by googling I guess; I don't have the link anymore) and computed its equity to assets ratio as 13.6%, which is broadly speaking in line with the others (almost exactly the same as VIA SMS). Unfortunately this information is of little use as it seems that Russian loans never appear on Robocash. The Kazakhstan unit, which originates all or almost all loans on the site, is a black box. Yes, I agree, but in case of a possible insolvence situation of the single company (kaz or spain, seeing only the results of the loans), the group theorically could act as financial aid. Nothing written in the contract of course, but it's a possibility to maintain customers confidence in your business. I'm dreaming? Probably, but in a situation of fast growing and a relative youth of the business, as i could see in the datas showed on their website, leaving a company facing a state of insolvence with the investors could cut your legs when you're still in phase of climbing, expecially if you have the resources to cover and much competitors seem to grow. Also what i just wrote depends about the knowing of the statements. If Finterra, that is the company of the group that has more years of running activity, contributes for ex. 90-95% in the total results showed, my reasoning is automatically wrong. But if it has not this high contribute, as I can predict seeing the growing voluems in the last 2 years showed in the website, that are the years when the other companies born, I can evaluate my thinking. I'm writing without knowing anything about the volumes and the conditions of their business, only seeing %s of delays of the loans around forums. But, as we know, for valuate p2p's intermediators that offers BB their statements are one of the most important datas to consider if you are planning to increase your investment. could kindly dmitry tell us something?
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kulerucket
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Post by kulerucket on May 2, 2017 7:25:34 GMT
and computed its equity to assets ratio as 13.6%, which is broadly speaking in line with the others Hi, I have seen you use this as a measurment of risk a few times. How do you feel about this value with respect to these companies? I.e. what would you consider a good value/bad value, what would the implications be if the number is too high/too low?
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Post by nesako on May 2, 2017 8:43:42 GMT
I hope what they mean is original loan period + 30 days, since FAQ's and Terms on website clearly state 30 days. But even then, the longest loan I have is 21 days, so 21 + 30 would be 51 days max wait... Yes that is what I take it to mean 60 days from the date of loan issue. The borrower can extend the loan by 30 days apparently but that does not affect the buyback for investors that is between the borrower and Robocash. My first possible buyback is on the 14th of May so will see what happens. I have one loan which has a term of -30/15 as of today, meaning it should be bought back tomorrow. Will let you know what happens...
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Post by southseacompany on May 2, 2017 9:08:18 GMT
and computed its equity to assets ratio as 13.6%, which is broadly speaking in line with the others Hi, I have seen you use this as a measurment of risk a few times. How do you feel about this value with respect to these companies? I.e. what would you consider a good value/bad value, what would the implications be if the number is too high/too low? When a company is profitable it doesn't really matter, but the history of financial markets suggests that not all companies in a cyclical industry (like consumer credit) remain profitable forever. When a company goes into the red, it will first eat up the shareholders' equity. If that is not enough, claims against the company will be impaired, starting from the most junior, which is probably the p2p buyback guarantee. So the equity is the only "buffer" we have. The lower the equity, the more risk we have. From our point of view it can't really be too high. It's mainly useful for comparing the originators to each other, so I wouldn't set any specific numbers as guidelines. Note that a company's owners can lower the equity by paying themselves dividends, so it's not a stable metric in the long term. The fact that less capitalised companies (like Creamfinance Georgia) and companies with no disclosure available (like Swaper) can get money at the same -- or even lower -- yield than a larger competitor with a better balance sheet (namely Twino) suggests an abundance of "dumb money" in the p2p sector. Or maybe most investors have a different opinion about risk levels.
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kulerucket
Member of DD Central
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Post by kulerucket on May 3, 2017 22:35:47 GMT
3 buybacks triggered today on schedule (end of the day on +30). It's a bit annoying that they just show up as paid on my statement and nothing to distinguish them as bought back. It will be difficult to work out % of buybacks as you have to cross reference with the loan listings.
% of current loans still around 45% with rest late.
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p40l0m4r
Member of DD Central
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Post by p40l0m4r on May 4, 2017 7:45:20 GMT
I've got only 11% of open loans in current status. Principally loans in Kazakistan
Probably I'm unlucky, but this is a little bit disappointing
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Post by nesako on May 4, 2017 8:02:33 GMT
3 buybacks triggered today on schedule (end of the day on +30). It's a bit annoying that they just show up as paid on my statement and nothing to distinguish them as bought back. It will be difficult to work out % of buybacks as you have to cross reference with the loan listings. % of current loans still around 45% with rest late. Buyback seems to be manual process for them. My loan went to -31/15 yesterday, i.e. delayed buyback by 1 day. Today it shows as 47/15 Closed. So 32 days delay before BuyBack kicked in, but it still did...
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kulerucket
Member of DD Central
Posts: 336
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Post by kulerucket on May 4, 2017 8:26:58 GMT
Whichever developer came up with the -31/15 and 47/15 status should win a DailyWTF award. The numerator increases from 1 to the loan length, then jumps to -1 and decreases after that day, then at buyback it jumps back up to the total days since the start. What a mess!!
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Post by gmaxkenny on May 4, 2017 14:14:38 GMT
I've got only 11% of open loans in current status. Principally loans in Kazakistan Probably I'm unlucky, but this is a little bit disappointing I have about 55% of loans in current status which is a marked improvement in the past 2 weeks. All Kaz,I have seen no Rus or Esp loans so far.
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Post by nesako on May 10, 2017 12:38:10 GMT
Results for my second investment tranche (only taking into account loans which have been Purchased on the same day when I deposited new money). All loans purchased on 18.04.2017 with all having 21 day term, maturing today:
Closed / Repaid early - 70%
Closed at the end of the term - 0%
Delayed - 30%
I will be able to report on my third and last tranche tomorrow.
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