Finko AM recovery
Hello,
II have seen an update regarding the recovery on Fink AM.However it is made on June 3 and bellow there is another update made on June 3. I assume that's just a typo and it should be July 3. It says that 280000 Euro were transferred to Mintos from Varks in the last month. However I didn't receive a single cent from those. Why is this recovery process not made equitable for all investors to get a share of the recovered funds? Since Mintos says that only 70 %is recovered and there is no visible connection between the repayments and the investors then there may be some people which may not get a any money back. Basically how can an investor know that the distribution of e funds is done fairly since there is no visibility?
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Hi Dan-Ionut-Tudor Pordea, it was a typo, now it is corrected.
We amortize recovered funds according to the payments waterfall: the first funds to be amortized are those that have underlying borrower repayments, then follow all rebuys, and then - loans that have reached 60+ days late period. This is also described in the General Terms and Conditions of platform User Agreement clause 10. Payment for the services of the Platform and payment waterfall.
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