P2P Lending

sk8board · 12-11-2019 12:13pm

Mintos - I noticed this morning my auto invest had cash drag again, and sure enough i had to adjust down again to 9.5% to clear it out.

I know these lulls happen every year, but it feels like 10% is the new 14% in the P2P world.

ct5amr2ig1nfhp · 18-11-2019 4:35pm

Not had too much time lately to review my p2p platforms. A few thoughts recently though:

The ViaInvest website had a bit of a makeover recently (4/Nov), a font change is all I'm seeing really! Unfortunately I am still seeing cash drag most days. "Currently there are no loans listed"

Mintos - all eyes on Aforti and MetroKredit at the moment.

Vientor - Aforti have loans available on Viventor also. Thankfully the few I had I was able to sell when the news broker there was issues with Aforti. Performance on the site has deteriorated over recent months. Loan volumes increasing on the Primary Market, currently about 20k loans, while the Secondary has ~15k.

Swaper - back to the old days of significant cash drag.

P2PBanking.com · 18-11-2019 6:24pm

List of results for p2p lending companies
https://www.p2p-banking.com/which-p2p-lending-companies-are-profitable/

P2PBanking.com · 20-11-2019 3:56pm

New recommended video interview with Bondora CEO Pärtel Tomberg
https://www.p2p-kredite.com/diskussion/interview-mit-bondora-ceo-paertel-tomberg-von-kolja-und-lars-t7098.html
in english with german subtitles (EDIT the intro in the video/ first minute or so, is in German language. Just skip through that).

Wegian · 27-11-2019 10:00pm

When I go to edit mode on my Mintos AutoInvest and go to show available loans it is showing loans available, however the system is not auto investing for me
Is this working for everyone else?

ct5amr2ig1nfhp · 27-11-2019 10:07pm

How have you set your diversification settings? Is the setting enabled or disabled in the portfolio?

Wegian · 27-11-2019 10:36pm

Clara Sparse Windbreak wrote: »

How have you set your diversification settings? Is the setting enabled or disabled in the portfolio?

It’s set as Yes

FFVII · 27-11-2019 10:39pm

Wegian wrote: »

When I go to edit mode on my Mintos AutoInvest and go to show available loans it is showing loans available, however the system is not auto investing for me
Is this working for everyone else?

That hasn't worked in months...for me.

ct5amr2ig1nfhp · 28-11-2019 12:03am

Sounds like you need to tweak the diversification settings. Under the diversification section, click the link for 'diversification settings' and modify the values for each loan originator.

The alternative option is to disable the diversification option. Your funds will get invested pretty quickly after it is disabled.

Wegian wrote: »

It’s set as Yes

P2PBanking.com · 06-12-2019 11:16am

Moneything closes
https://www.p2p-banking.com/countries/uk-platform-moneything-in-wind-down/

bcklschaps · 06-12-2019 12:46pm

p2p portals seem to be struggling in UK.

Personally I have no exposure to p2p in the UK, but I wonder is there anything here that we can read accross to European p2p?

retalivity · 06-12-2019 7:47pm

Monego & Iutecredit have had their kosovan banking license revoked, loans from these originators in Kosovo on Mintos are currently suspended - i.e. cant buy and sell.

Ive only got 30€ in kosovan loans with both these companies, but substantially more in other countries by the same originator - time to offload

ct5amr2ig1nfhp · 06-12-2019 7:59pm

Got rid of my lutecredit loans just now. But not my Monego loans.

Shelflife · 06-12-2019 8:10pm

How did you get rid of them if they’re suspended?

ct5amr2ig1nfhp · 06-12-2019 8:12pm

Not sure, but it let me sell them.

retalivity · 06-12-2019 8:29pm

Only the loans in Kosovo are suspended, but both originators offer loans in other countries.
I was able to get rid of those, stuck with the kosovo ones still though

FFVII · 06-12-2019 9:41pm

Hmm, ive enough tied up there to nearly wipe out all gains in the 20 months I'm on the site.

Liquidation proceedings....they are gone?

P2PBanking.com · 09-12-2019 3:20pm

Invest & Access payouts currently partial /delayed (as per product design)
https://www.p2p-banking.com/countries/baltic-mintos-invest-access-seems-to-have-left-normal-market-conditions-for-the-first-time-leaving-some-investors-surprised/

littlevillage · 09-12-2019 3:21pm

I have nothing in Monego

I do have a large portion of my portfolio with LuteCredit (Albania, & Moldova.....thankfully no exposure to Kosovo) though. Anybody else in the same boat ? If so... what are ye doing ? I wonder is there a danger that the whole of LuteCredit will collapse?

FFVII · 09-12-2019 5:33pm

littlevillage wrote: »

I have nothing in Monego

I do have a large portion of my portfolio with LuteCredit (Albania, & Moldova.....thankfully no exposure to Kosovo) though. Anybody else in the same boat ? If so... what are ye doing ? I wonder is there a danger that the whole of LuteCredit will collapse?

On phone But Iute got cheap ish €20million funding I think it was not long ago. Well rated so one would imagine safe.

I sold all.

And am withdrawing all as funds come back.

This on top of all of the hidden co owned originators is enough now for me.

To secretive mintos. Bang on about Transparency but are anything but.

Will take a few months to withdraw all and bye bye.

mike_cork · 10-12-2019 3:07pm

FFVII wrote: »

On phone But Iute got cheap ish €20million funding I think it was not long ago. Well rated so one would imagine safe.

I sold all.

And am withdrawing all as funds come back.

This on top of all of the hidden co owned originators is enough now for me.

To secretive mintos. Bang on about Transparency but are anything but.

Will take a few months to withdraw all and bye bye.

I'm done with mintos for the foreseeable future

ct5amr2ig1nfhp · 10-12-2019 3:29pm

I have also decided to reduce my investments in Mintos. I've put up a large chunk of the loans for sale today. I'd like to reduce my investments by 50% before the end of the year.

mike_cork · 10-12-2019 4:37pm

Clara Sparse Windbreak wrote: »

I have also decided to reduce my investments in Mintos. I've put up a large chunk of the loans for sale today. I'd like to reduce my investments by 50% before the end of the year.

It's twofold while I've decided to pull out
(1) a recent upsurge in LO'S failing/getting into trouble
(2) most/all of the recent LO'S to be signed to the site seem like junk tbh

Shelflife · 10-12-2019 11:44pm

Ive stopped my autoinvest on all platforms and started making withdrawals.

will have another look at it again in the new year but for now im reducing my exposure.

Fwiw I think the Iute problem is not of their making and it will work itself out but theres just too many glitches and problems lately.

ct5amr2ig1nfhp · 11-12-2019 12:27am

Following up on my post... I sold ~50% of my Mintos loans today without any discount.

Clara Sparse Windbreak wrote: »

I have also decided to reduce my investments in Mintos. I've put up a large chunk of the loans for sale today. I'd like to reduce my investments by 50% before the end of the year.

FastFullBack · 11-12-2019 9:28am

What alternatives to Mintos are you guys looking at?

WunnaYarzar · 11-12-2019 11:52am

Cute Hoor wrote: »

Property Bridges is a new(ish) platform, 4 completed investments to date, one currently open for €700k, all Irish, all investments returning 7.5% to 8.5% pa so far, all investments secured against property/site. Looks far safer (to me) than LF the way that has gone, min investment €500 per investment.

Have you lent on Propertybridges, if so, has there been any late payments or defaults?

brianomc · 12-12-2019 3:37pm

Some good news from Mintos regarding the Monego loans. The buyback guarantee has been taken over by another group, Finitera who will step in once payments have been delayed by 60 days.

Email below:

Last Friday, December 6, 2019, the Central Bank of Kosovo (CBK) informed Monego about the decision to revoke Monego’s microfinance license, effective immediately. The management team of Monego is working with all involved stakeholders to ensure the collection of customer payments. Monego shareholders are communicating and working with CBK to ensure the renewal of business operations.

Along with the license being revoked, Monego does not issue new loans. CBK has appointed a liquidator of Monego. The liquidator estimates that the elaboration and approval of a plan for covering creditor’s claims will require at least a month. The approval of the plan is subject to CBK decision.

Accordingly, last Friday Mintos informed investors that Monego issued loans are no longer present on the Primary and Secondary Markets.

At this time, the appointed liquidator, as representative of Monego, has the responsibility on behalf of Monego to transfer the received borrowers’ repayments for Monego issued loan investments to Mintos, for Mintos to credit investors accounts accordingly. In the unlikely case when Monego would not make the contractual payments to investors and, as a result - all loans would become late, Finitera as a guarantor will cover scheduled borrower payments to investors having investments in Monego loans once these payments are delayed for 60 days.

Finitera, an international fintech group operating in four markets with 122 branches employing 718 employees and with a share capital of 8 million EUR, was in the final stage of changing Monego shareholding structure and adding it under Finitera direct ownership. Although the work on reorganization was not finalized and as such Monego is not part of Finitera, Finitera has decided to grant a guarantee for certain obligations that Monego holds towards investors on Mintos.

Mintos is taking legal measures to claim from Monego monies due to investors on Mintos and has engaged a local law firm in Kosovo for that purpose.

We thank our investors for their patience while we work with all involved parties for the most suitable solution for this situation. Meanwhile, please contact our Investor Service team in case of additional questions.

ct5amr2ig1nfhp · 13-12-2019 10:40am

Good news. I wonder when Finitera will kick in with buyback for the loans over 60 days late? I have one Monego loan 63 days late.

Just a final update on my withdrawal process - I ended up reducing my investment in Mintos to less than 20% of what it was a few days ago. All loans sold without a discount and most of the funds have been withdrawn. Funds withdrawn hit my account the next day too.

Shelflife · 13-12-2019 12:35pm

Ive stopped all of my autoinvests across the boards.

Mintos , ive put up all my non current and 12mths + loans up for sale and letting the rest wash out.

Grupeer and Peerberry and Robo im withdrawing the cash as it matures .

Viventor and Fastinvest ive withdrawn my initial investment in both and just waiting for the rest to mature/sell then im out of both and wont go back in.

Estateguru im happy to leave and the same with Envestio as I dont have big funds in either.

Linked finance im withdrawing the money as it mature and wont go back in there either.

Longterm I intend on reducing my P2P portfolio, I went in way too hard and thankfully didnt get burnt.

I will leave a more modest Portfolio in Envestio, Estateguru Peerberry and Grupeer and Robocash and have the rest in Mintos.

Being honest I prob got a bit greedy and the Iute problem opened my eyes to the downside a bit more.

Atm ive withdrawn about 25% and will prob only leave about 25% in P2P in the new year.

P2P Lending

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