csj42
P2P Blogger
Posts: 4
Likes: 1
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Post by csj42 on Nov 14, 2019 20:31:55 GMT
If you look at Mintos rating system Aforti Finance downgraded in March 2019 from B to C+, Rapido Finance downgraded in October 2019 from B- to C, and finally Metrokredit was downgraded from B- to C in November 2019. Aforti Finance is still rated C+, I am not quite sure why.
About 70% of the LOs are rated B or below. Are they at risk of defaulting? Perhaps, but since there are examples of ratings that do not make sense e.g. Aforti Finance is still rated C+ (I thought junk was rated D) maybe you cannot really use Mintos' rating system anyway.
It will be interesting to see how the three cases progress. I am just annoyed with myself that I have invested in Aforti on two platforms but I guess sometimes you have to learn the hard way.
And then let's see which LO is the next. If the LOs keep defaulting at this pace, I guess it will eventually be bad for business and Mintos will be forced to react. I just hope Mintos doesn't wait too long or I will have to pull out some of my investments
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Post by bidaskbet on Nov 18, 2019 12:43:53 GMT
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sb
Posts: 166
Likes: 118
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Post by sb on Nov 18, 2019 23:43:16 GMT
The cash flow from operation doesn't include interest they received from loans. They still increase the size of their loan book, which also generates negative cash flow.
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benaj
Member of DD Central
Posts: 4,857
Likes: 1,591
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Post by benaj on Nov 24, 2019 9:51:57 GMT
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Post by jmot on Nov 25, 2019 9:09:16 GMT
A joke
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Post by geldregiertdiewelt on Nov 28, 2019 12:38:53 GMT
New kid on the block?
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Post by geldregiertdiewelt on Nov 30, 2019 8:35:28 GMT
Anybody who can still find originator "Nexus"?
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Post by southseacompany on Nov 30, 2019 11:56:31 GMT
Nexus has disappeared from the record like an executed politburo member from Stalin's official photographs. There must have been fraud or some kind of shenanigans going on for them to get scrubbed after a couple of days. Doesn't instill confidence in the due diligence process at Mintos. I wonder if they are ever going to tell us what went wrong, or will they just leave us guessing.
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Post by geldregiertdiewelt on Nov 30, 2019 13:43:48 GMT
Nexus has disappeared from the record like an executed politburo member from Stalin's official photographs. Great way to put it Meanwhile we have made a bunch of originator selection and rating observations that make you think Mintos has strayed away from the path of virtue. I'm reducing. Should I say good-bye?
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Post by explorep2p on Dec 5, 2019 20:10:11 GMT
Regarding Nexus, we were first told that an announcement was about to be made. When that didn't happen we followed up and were told:
"After publishing the announcement about Nexus joining the Mintos marketplace additional aspects were identified within the context of offering investments in Nexus loans that needed to be addressed. Nexus loans from the Mintos marketplace were removed until this is resolved."
When we asked what the 'additional aspects were' there was no willingness to go into that. Very embarrassing but we can imagine...
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Post by explorep2p on Dec 9, 2019 17:18:34 GMT
Hi Forum Latest updates to the Mintos ratings page includes discussion of Iute and Monego losing their licences, Nexus disappearing 3 days after joining, and the latest on Rapido, Aforti and Metrokredit defaults. On top of that scores for new joiners Creditter, Wowwo, Evergreen, and Dinerito, and various ratings changes.... Mintos lender ratings for Dec 2019
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Post by amoult on Dec 18, 2019 10:41:37 GMT
explorep2pI hope you update the scoring page now that Varks, Sebo, Dinero, Metrokredit, and Lendo are rolled up under Finko brand. I have invested in Varks loans and to my understanding loan originator legal structures remains separate for each of the above mentioned originators. Still I have this nagging feeling that if the old Metrokredit defaults can it elevate the risks of Finko Armenian operations (old Varks)? I.e. is there now some group level obligations that were not there before? I removed Finko from my autoinvest. Now I'm pondering should I sell those varks loans as I clearly don't understand well enough this new structure.
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Post by geldregiertdiewelt on Dec 21, 2019 10:46:41 GMT
Mintos brings on "a new lending company from Ukraine" which "As of the end of November 2019" has logged "just over 3 months" of doing business.
Oh boy!!
Because this is obviously everything that Mintos can pull off these days, I'm reducing massively.
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Post by boxhamster on Feb 10, 2020 14:43:22 GMT
What's everyone's opinion of the new Loan Originators "GFM" and "Tascredit"? Do they offer interest payments when payments are late?
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Post by geldregiertdiewelt on Feb 10, 2020 20:35:14 GMT
What's everyone's opinion of the new Loan Originators "GFM" and "Tascredit"? Do they offer interest payments when payments are late?
One does, the other not, but has a penalty payment (as you could easily read up yourself on the "loan originators" page). Besides that, I personally am tired of all the B- rated LOs from whoknowswherethatististan.
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