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Post by kilozulu on Apr 14, 2017 19:33:44 GMT
Not sure it is correct to have Mintos in this bunch. Almost everybody uses Mintos, but Mintos offers 30 originators or so, not 1 like other platforms. If Bondora, Fellowfinance, Omaraha and 10 more platform users would be bundled together, one would get similar result as to Mintos.
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Post by kilozulu on Jan 22, 2017 11:59:15 GMT
I'm pretty sure extremis is right. The borrower pays equal amount each month, out of which we get full principal share but only part of interest share. Interestingly, this allows to extrapolate what is the actual interest amount charged by Lendo to the poor guy.
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Post by kilozulu on Jan 14, 2017 18:50:29 GMT
Agree, the data points are not sufficient for proper analysis. You get more data in individual loan pages, but that is extremly time consuming to etract data for analysis. And even if you would, the time period is often too short or loan cohort too small to do real data mining.
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Post by kilozulu on Jan 14, 2017 18:46:33 GMT
It is so unusual that there are no buyback loans available. Used to be so many but now almost nothing. It makes me worried In consumer lending December is a highest month in the year, and January is slow. Volumes for all consumer lenders on various p2p platforms are down. For Twino they probably use their own resources first, and what gets to platform is gobled up by autoinvest.
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Post by kilozulu on Jan 4, 2017 20:28:57 GMT
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Post by kilozulu on Jan 4, 2017 20:05:02 GMT
Defaults appeared on Mintos only a few months ago, mid-August 2016, thus there is not enough statistics to have a meaningful insights. Prior to that it was official or unofficial buybacks done by originators, presumably to sweeten the deal or to iron out the process using their own money, not investors. Thus at the moment the best insight you can get is to download the whole loan book and look at what has been repaid ahead of schedule, either a contract ammendment or a buyback, or actual repayment ahead of schedule. And then take a sample of those early repaid loans and review the individual cases to try to form an opinion of what are the proportions among the three.. While we appreciate that third party applications are developed, we must explicitly state that we do not endorse this application, nor have provided any input in creating it. It is at the sole discretion of investors to use any third party application or not. Investors should be especially careful in providing their log in details to any third party. According to our Terms & Conditions: 8.3. The User is aware of and understands that third parties, who have obtained the User’s password, can access the User’s Profile and assume obligations on behalf of the User. If the User’s Profile is used to carry out activities on the Portal (incl., buying Claims) using a correct User’s e-mail address and password, it shall be considered that the activities with the respective User’s Profile have been performed by the User himself/herself/itself. Also we must reiterate that: 3.10. Mintos is entitled to, however is not obliged to, block access to the User’s Profile in cases, when Mintos suspects that the User’s Profile has been accessed without due authorization, including, if Mintos suspects that the User’s password has become known or may have become known to a third party or Mintos has suspicions of the execution of illegal transactions, as well as in other cases at the discretion of Mintos, in order to ensure safety of services, inviolability, confidentiality of the User and/or other Mintos’ clients or to prevent losses that might be inflicted upon Mintos or the clients. Hi Martins
I am very glad that Mintos is obviously active here and comments on the discussions from their point of view!
Now completely independent from the third party tool my questions are still valid. And I am doing this not for a third party tool but for my analysis.
Therefore I will be very thankful if you could answer my question I will reiterate now:
========================================= I would like to analyze the historical performance of the mintos loan book so I can estimate the expected losses.
For this purpose I use the data downloaded from "Primary Market" page in the Mintos interface.
The most important point when someone analyses loan performance is whether given loan defaults and if yes when during the term of the given loan this happens. Unfortunately the provided in mintos download data column named "Payments Received" counts all the months also the months where there were no payment. So we don’t see a way to find out when late or defaulted loan becomes such based on the data provided in the file.
Can you please advise how this could be done in an automatized way (without having to visit manually each single delayed loan in the mintos webinterface).
For example Lending Club provides column named last_pymnt_d so you can easily imply how long after the beginning there were no payments anymore. Any similar information that can be used to calculate this for the Mintos loans will be helpful.
========================================= Also I think such kind of additional information increases the platform transparency which helps the decision making of the investors and makes Mintos more attractive to them.
Thanks Nikolas
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Post by kilozulu on Jan 4, 2017 19:55:46 GMT
Thanks for your comments. Being an optimist in everything, I still re-invest incoming payments back in Bondora, in spite of their Trump-like "facts". It takes time, but I re-invest solely in the 2nd market. I hope to make at least 8%. On bigger and more stable platforms (Mintos, Twino) you can make at least 12-14% p.a., actually more like 12.9-14.9%, when compunding by reinvesting monthly interest. On small ones like Finbee you can get 20-25% p.a. easily. Then there is Viventor, Viainvest, Estateguru, etc. What makes you stay with Bondora if expecting sub-par return and even having to do some secondary market work for that? Even diversification is not relevant reason anymore with all those platforms to choose from?
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Post by kilozulu on Dec 30, 2016 22:24:17 GMT
Hi, it wasn't specific to one loan originator but across many different ones. I found it a bit weird on how the "Buyback" worked especially by throwing in a complex (at least for me) formula out there, instead of simply saying, your initial investment and any interest will be secure. My understanding of 'buy back' was that the loan originator would be a willing buyer on a defaulted loan beyond 60 days as compared to being left high and dry. Anyways, it seems that this isn't the case going by the replies here. So thank's once again. Will hit back on this when I deal with my first default. Where did you see that formula?
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Post by kilozulu on Dec 30, 2016 22:23:27 GMT
I aim for 60%. Expierence with defaults I've seen is that collateral=car is sold for about 70% of valuation, plus the recovery handling cost is 5-10% of loan, thus anything above 60% LTV is likely to loose some of principal.
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Post by kilozulu on Dec 11, 2016 12:55:51 GMT
Haven't seen one yet:(
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Post by kilozulu on Dec 11, 2016 12:48:21 GMT
Bondora used to have/still has? the fixed point approach, resulting in a grossly unfair distribution of small repayments to investors each having small loan pieces, like 5 euros, so many here have seen fixed point in action. Bad experience. On 5 euro loan piece your capital repayment will always have half-cents, and Bondora resolved it by giving one lender a cent and 2nd one zilch. If you have a thousand loan pieces, then loosing half a cent on each every month accumulates quickly.
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Post by kilozulu on Nov 26, 2016 22:03:27 GMT
Two concerns about Finbee: 1) they have pretty small scale and the growth is not accelerating, thus I suspect they are operating at loss and the prospect of turning to profit is not evident. In such a case the team may decide to call it a day, when run out of initial equity. 2) the defaulted principal is 100k, the compensation fund is 22.7k. If compensation fund is fed only by a 1-2% contribution when a new loan is signed, it is pretty front-loaded, whilst the payments out to cover defaults are drawn out over time. Thus with weak growth the outpayments may overtake, if not already overtaken, incoming payments, and eventually drain the compensation fund.
Happy to hear other views on these two items!
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Post by kilozulu on Nov 17, 2016 21:09:36 GMT
Honestly, the interest rates seem too low. Twino/Mintos still allow to get 13%, if monitored carefully. For a pretty anonymous platform to justify even testing investment, it has to be smth similar to Twino initial 14.9% offering. The current vague offer of +2 on top of baseline 12% just doesn't cut it. Even solid 14% offer wouldn't fly at this early stage.
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Mintos
Bad Debt
Oct 30, 2016 12:18:16 GMT
Post by kilozulu on Oct 30, 2016 12:18:16 GMT
Wonder what was LTV for that loan. If anybody here had it, can still be retrieved from finished loans data.
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Post by kilozulu on Oct 30, 2016 12:12:04 GMT
According to Bondora statistics manual investing was 11% of total, API was 6% only. Strange why B did not kill API first, as smallest contributor to volumes.
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