monitoring portfolio
Every month, Mintos tells me to monitor my portfolio and my results. After two good months in June and July, August was very mediocre. 35% of my interest was still outstanding on 31 August and 4% of principal repayments. That is a considerable cash drag. I also keep track of some of my friends' accounts, and their figures are similar. It seems difficult for Mintos to follow its own rules. Nera Capital only started paying interest after 12 days, but not from overdue but still in pending. Nera is an example of unneccesary late repayments as they have no banking issues. Until very recently they paid 100% the next day.
It remains unclear when amounts are pending or overdue. Unclear whether you are entitled to extra interest. It is almost impossible and cumbersome to check because Mintos has removed the column with repayment dates. I leave it to the reader to decide whether there is a connection.
Currently there is hardly high profit loans available compared to a few moths back. In June it was easy to keep a diversified portfolio with average 13% interest. Now this has dropped to 11%.The secondary market offers some perspective but premies are getting up for high interest loans.
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Hey,
P2P loan and loan market for B2C has seasonnality, last year loans on Mintos dropped to 10% average in the same timeframe.
Nothing unusual for a market place like Mintos.
August was shitty because MFO has some problematic with the KZT/EUR payment. There is usually 5-10 days to release payment. This time is way worse.
Nera Capital repayment is strange. They don't post any loan since November, they are cash flow negative with Mintos. Unlike other lender, the primary market doesn't pay the others Mintos Investor.
Best case is that they manage repayment within their SPV and that take time (maybe?).
Nera capital has something like 800$M of AUM for litigation funding.
Mintos team has maybe more info on the compagny itself and their performance for Q1/Q2!0 -
@nicolas. Thanks for adding information. I don't recall that average of 10% last year. I purchased an average of 14.5% from 10 credit companies between July and October. The offer was rather abundant. This is the first time in 30 months Mintos that the offer of loans is so poor and limited.
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September:
It was a good month for repayments. Nera Capital paid faster than in previous months, MFOkaz repaid what it had failed to repay the month before and Dinerito finally managed to process all repayments since December 2024.
Less positive were the repayments from Watu Credit and MFOfintechfinance. Despite 1.5 million in repayments from the latter over the last two weeks, according to Mintos, none of this was returned, and 20% of the total investment is still awaiting repayment. Curious what Mintos pay back plan will bring.
Another negative aspect was that the columns for repayments (dates and amounts) did not reappear. What a surprise from Mintos. Not. For any transparency regarding repayments, you now have to click on the loan itself, scroll down, and find the payment schedule there. Too much work to see how often the 10-day pending period is exceeded. Mintos also has trouble enforcing the 60-day buyback rule. Creditstar and MFOkaz regularly exceed it.1 -
On the bright side, same vibe here overall.
A small improvement across the board.
But
MFOfintech has like 7M in pending. This amount won't be seen in a while.
Credistar has began to reduce their rates from 15,5 to 12. They will save a fuck tons of money.
Watu credit has a weird habit of showing a very low % of their loan as current.
Repayment column, I hope, will come back, it was great to see. Personnaly I tend to have less loan but with a bigger amount invested in. It was great to see the expected cash flow
I honestly think that interest on the pending days are either never enforced or never applicable0 -
Agree.
MFOfintech is getting nasty. There seem to be no pay back plan yet. Mintos always has an update on Friday's concerning overdue loans. But not last Friday. Correlation? And the level of interest loans are degrading by the week. Choice is getting more and more limited, what use to be mintos strength.
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Surely.
I'm lucky that I only have 1% in MFOfin, i think that the situation will be resolved.
Atm we have a still good compagnies that offer 11-12%. It's very good yield for safe option. Some bonds become attractive again.0 -
Mintos finally responded to the problem with MFOfintech: "The payment plan proposed is being evaluated. In the meantime, the client is making weekly payments".
If the client is making weekly payments I wonder why there is -at least in my account- after 2 weeks in October and last 3 weeks from September not a single eurocent interest registered . Currently 40% of all MFOfin investments in overdue.
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Good new!
I have received this month some interest from them
I prefer the dashboard of the mobile application, the overview is more clear.
It's the norm with them !
Short term loan are not that short due to this.0 -
Hi Nicolas, could you please share insights, companies names ?` Atm we have a still good compagnies that offer 11-12%. It's very good yield for safe option`
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Hi Ugo, thanks for all your comments. I also have quite a lot with MFOFintech. I was very satisfied with them until last few months... Also update from Mintos side became very foggy. Also the new update is that they paid 300k, previous payments were 500k...
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@damquer thanks for your information. According to updates they received more than 2 million since 12 september. Haven't seen a single cent in my account. Maybe they repay the short loans first. Nothing concrete about the pay back plan. Vague as usual.
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It would be good to get more updates and what are the rules of allocating delayed payment. No updates on the pay back plan also doesn't look good:(
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October was a month of contrasts. On the one hand, most lenders repaid their loans and interest on time. On the other hand, the number of loans offered on the primary market is rapidly deteriorating. On 2 November, a total of 3,700 loans were still being offered in euros, compared to 50,000 four months ago. As a result, loans on the second-hand market are also not attractive due to high premiums. Those who want to diversify somewhat can get an average interest rate of 10%, compared to around 13% a few months ago.
Credit compnies that are chronically late are still MFOfintech and, this month, Watu Credit. MFOfintech has agreed on a plan with Mintos( without clear guidance), but I have not seen a penny since 12 September on the four accounts I monitor. More than a third of the investments are overdue, even though the borrowers have paid the money in time to the credit companies. I wonder whether that money is with the lender or with Minos and what they are doing with it in those six weeks.
Watu Credit went from pending to overdue and back again this month (with another 10 days free of charge pending?) to return to overdue with a partial repayment.
Two examples that show Mintos has limited control and can exert little pressure on the creditors. This month, I scaled back my investments a bit, mainly because of the low interest rates, which make other platforms becoming more interesting.1 -
Thanks for the update Ugo
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Thanks Ugo, let's hope we have a good stable rest of the year.
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Actually, today I noticed that there are nearly 0 offering over 10% short term that is not late. In the past there was plenty of options...
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Dear all,
The interest are really falling this year. Most of the compagny are also somehow maturing and have access to more funding, rate decreasing.As of now, some bonds are really worth it.
Planet42 has repaid 3.5%. As usual for Watu, I saw some repayment from MFOFintech.
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@nicolas good point about Planet, I hope the payback will reach 50% iwithin one year next month. The amounts are decreasing so I guess they will need 2 more years for the other 50%. Dead money but well shit happens sometimes.
I also find it positive that Mintos warned on the 2e market not to buy Eleving loans as they are going to pay back most of their loans. If you buy them with high premium then you will loose money. It is the kind of openness and integrity one always hope for.
If you find interest on MFOfintech you problaby have short loans. I understood from Mintos they repay them first.
For me no bonds. Too long to mature in an uncertain geopolitical situation and too long to reinvest your money.again. But probably less risk then loans.
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Ugo The turn of event caused by mismanagement, bad decision.
We sign for that, some people didn't do their homework. (I was too optimistic)
Yeah some new is always welcome!
P2P is fucking risky and a lot of Compagnies are ranked B or less for their bonds if they are traded.
Credistar almost got bankrupt not so long ago.
MFO is big supplier of loan on Mintos..
I would say some bonds are really a good compromise, lower liquidity but monthly or quarterly coupon are good.0
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