I was surprised to see that loan originators just stop the transfer of borrower repayments when the originator company gets into financial trouble, even in the direct investment structure.
It was supposed to be a direct claim to the borrower. If the originator company cannot fulfill the buyback it is to be expected because this is a claim against the originator, but the repayments from the borrowers should not be allowed to be used for company funds of the loan originator in case of trouble in the company.
Because of this I would appreciate if you Mintos could explain in detail the legal structure of the new notes after the license is granted. Are they closer to the direct structure or the indirect structure? And are they better at protecting the investors rights than the current solution with the assignment agreements?
P.S. I have read the blog post related to the new Mintos notes but I need some further explanations if possible.
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