Make order of payments transparent for funds in recovery
Since funds in recovery will be repaid in the order when the loan was issued please make transparent where in this line my loans are waiting.
In January Mintos was able to recover 2.3 million euro from Monego. But not a single cent of my outstanding Monego loans has been repaid since then. I've been told, that this was because my loans were not yet in turn.
As an Investor I want so see were in the line I'm waiting. This is particularly important if Mintos estimates that not all outstanding loans will ever be recovered, because that means that some investors will get all their money bag and others (those, waiting last in line) will see nothing.
So this is a really important information for me as an investor so see how likely my loans in recovery will ever be repaid.
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That is actually a good idea, I would like to know when is my turn because there are funds recovered and I am not getting anything. Mintos, please react. thank you
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No, it does not. Because Mintos does not distribute recovered money from LOs equally among investors.
Loans get repaid in chronological order from oldes to newest. This also means, whenever Mintos estimates that it will not recover 100% from one LO, that some investores will still get 100% of their portfolio repaid and other might not get a single cent. This is why I want to see where in this chronological order my loans from defaulted/suspended LOs are.
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Mintos any comments? How about some transparency towards your clients?
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I would agree. It is important for transparency to know where you stand in the queue. Clearly each loan you might have in recovery might be in a different place in the quest. Given that Mintos provides a rough estimate of global expected recovery they could also provide a personalized estimate based on the global estimate and the place in the queue of each loan.
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For me https://www.mintos.com/en/funds-in-recovery-updates/ is providing any information I need. You can't predict the payments precisely to one day and for a rough guess it is good enough.
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Would it be possible to share a live-updated progress report showing the percentage-wise progress as Mintos works through each step of the waterfall for loan originators in recovery?
Visually it could be presented in a table with:
Step ...: ...
Step X: Y EUR in total investor exposure, Z% paid back, V EUR your exposure, W% of your exposure paid back
Step ...: ...Each step would have a short description if you click an "i"-icon and the percentages could be shown as progress bars with text on them. When a step is fully completed the line changes colour to show that it was completed.
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