kulerucket
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Post by kulerucket on Mar 24, 2017 8:02:41 GMT
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Post by mopcku on Mar 24, 2017 18:13:54 GMT
so I'm happy to keep my money locked into a higher interest rate for longer. At the moment when my 13%/14% loans get bought back it is a struggle to even get a 12% loan to replace them. EDIT: They were all Russian so it look like the 14% BB have now been replaced with 12% PG.
I dont think they are really locked since Twino presumably will exercise its buyback right if the interest goes down
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kulerucket
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Post by kulerucket on Mar 24, 2017 21:31:01 GMT
I don't really believe that they would do this. It would be highly noticeable unless done gradually and bad for them in terms of investor trust. If they pull that one my money exits the platform.
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Post by sbx513 on Apr 3, 2017 14:10:32 GMT
I think borrowers will do it themselves. They can and will repay high interest loans with lower interest ones.
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kulerucket
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Post by kulerucket on Apr 3, 2017 19:54:30 GMT
I think borrowers will do it themselves. They can and will repay high interest loans with lower interest ones. Wouldn't that be far too sensible for someone touching payday loans in the first place?
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nonolet
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Post by nonolet on Apr 10, 2017 7:18:12 GMT
Payment guaranteed loans cannot be sold when defaulted (=after the 30th day of delay). So Twino will service the debt for the remaining duration but you don't have the option to exit prior to maturity anymore. I for my part stay away from them.
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Post by nesako on Apr 10, 2017 9:17:31 GMT
Payment guaranteed loans cannot be sold when defaulted (=after the 30th day of delay). So Twino will service the debt for the remaining duration but you don't have the option to exit prior to maturity anymore. I for my part stay away from them. Considering ALL recent loans are PG, this is bad news... I am not sure how I missed this, I can almost guarantee this was added later on since when I was reading FAQ's immediately after PG option was introduced, I cannot remember reading that paragraph. I am pretty sure it said "Defaulted" status did not apply to PG loans at all. Thank's for the heads' up though, I will now hope there will be people who will buy my loans once they get Delayed, since I do not want to be stuck with either for a year...
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JamesFrance
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Port Grimaud 1974
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Post by JamesFrance on Apr 10, 2017 10:15:17 GMT
It just means that Twino are borrowing your money for much longer than if they have to repay it when the borrower defaults. The risk is entirely platform failure with no loans to maybe keep repaying which was a slight possibility before. No way to unload them if you lose confidence.
Hopefully we will continue to see regular accounts for Twino/Finabay.
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Post by nesako on Apr 10, 2017 10:31:22 GMT
It just means that Twino are borrowing your money for much longer than if they have to repay it when the borrower defaults. The risk is entirely platform failure with no loans to maybe keep repaying which was a slight possibility before. No way to unload them if you lose confidence. Hopefully we will continue to see regular accounts for Twino/Finabay. Probably Twino platform will be OK for a while, but if anything goes wrong you are then stuck with hundreds of unsecured personal loans, with some already Defaulted. This is why I prefer short term loans for "personal unsecured" and then I am all good with long loans with low LTV / decent collateral as a back-up.
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kulerucket
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Post by kulerucket on Apr 11, 2017 17:32:22 GMT
Payment guaranteed loans cannot be sold when defaulted (=after the 30th day of delay). So Twino will service the debt for the remaining duration but you don't have the option to exit prior to maturity anymore. I for my part stay away from them. That's an excellent point that I hadn't considered!
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kulerucket
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Post by kulerucket on May 9, 2017 12:34:11 GMT
Is it just me or are PG loans performing a lot worse than BB?
| BB | PG
| ABC | Current | 51.43 % | 62.27 % | 100.00 % | Extended | 26.21 % | 0.00 % | 0.00 % | Delayed | 22.36 % | 37.73 % | 0.00 % | Defaulted
| 0.00 %
| 0.00 %
| 0.00 %
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EDIT: Fixed formatting
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JamesFrance
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Post by JamesFrance on May 9, 2017 14:15:04 GMT
Nearly all the PG loans past their first payment are shown as Delayed but the loan details show repayments up to date and we have been paid. I don't think their system knows how to display them.
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kulerucket
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Post by kulerucket on May 9, 2017 15:47:05 GMT
I had just assumed that this meant that the loan was not paid by the borrower but by Twino under the PG.
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Post by rahafoorum on May 9, 2017 18:55:46 GMT
These should be shown as paid, because even delayed loans still get paid by Twino. Although in regards to performance, I'm not sure you can actually compare them that well, since Buyback loans are either 1 month or newer ones are actually 2 months with 1 payment, while PG loans are all longer, up to 24 months.
In other words: a) BB loans take 30 days longer to even go overdue than PG loans, since first payment date arrives only after 60 days since origination. b) If BB loans do go overdue, they're bought back and removed from your portfolio after 30 days, while overdue PG loans will stay in your portfolio for up to 23 additional months. Of course, this currently is not the case in your portfolio yet, since none of them seem to have reached defaulted stage yet.
I'm not sure if PG loans are also possible to extend? Seems like you have decent amount of BB loans extended, but none of PG. If PG can only go overdue and not be extended, then that could affect results as well.
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kulerucket
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Post by kulerucket on May 9, 2017 21:43:36 GMT
These should be shown as paid, because even delayed loans still get paid by Twino. Although in regards to performance, I'm not sure you can actually compare them that well, since Buyback loans are either 1 month or newer ones are actually 2 months with 1 payment, while PG loans are all longer, up to 24 months. I think that there needs to be a distinction between paid by the borrower or Twino because many may want to sell if there is a pending default to avoid being locked in. Whether or not this is shown in the way I presumed is another question. Other than a bug, I can't think of any other reason. I have very few under 3 months as I tend to go for longer duration for the higher return. A large portion of my PG are 6 to 12 months so I would estimate my average BB duration is longer than PG. In other words: a) BB loans take 30 days longer to even go overdue than PG loans, since first payment date arrives only after 60 days since origination. b) If BB loans do go overdue, they're bought back and removed from your portfolio after 30 days, while overdue PG loans will stay in your portfolio for up to 23 additional months. Of course, this currently is not the case in your portfolio yet, since none of them seem to have reached defaulted stage yet. True, I should have thought of that. I'm not sure if PG loans are also possible to extend? Seems like you have decent amount of BB loans extended, but none of PG. If PG can only go overdue and not be extended, then that could affect results as well. My extended rate is skewed because I gathered a lot of delayed 13% loans manually when others were selling them. These will have ended up extending at a higher rate than new loans. I was looking more at the delayed which has problems like you say.
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