We have received a lot of feedback from investors about pending payments. While pending payments always were a part of normal business operations, before the Covid-19 crisis they usually settled on time and were hardly noticeable to investors. The recent increase is a new situation also for us, and we appreciate all the feedback we received from you. We heard you, and we want to share some improvements we’re making to increase transparency for investors.
Pending payments dashboard
To make it easier for investors to see their pending payments in one place, we’re introducing the pending payments dashboard. On this new page, accessible via the Pending payments link on the Overview page, investors will be able to see relevant statistics for their pending payments.
- Breakdown of pending payments by lending company
- Breakdown of pending payments into current and finished investments
- Total interest earned on pending payments
- A graph showing the pending and released amounts by day
- Links to related updates and global statistics
The pending payments dashboard will be released in the next 2 weeks, with the chart launching soon after.
Lending company status filters
To improve transparency about the status of the lending companies on Mintos, we’re introducing lending company status values: Active, Suspended, and Defaulted. With this change, investors will be better able to see for which lending companies pending payments are part of the ordinary course of business, and which companies have problems transferring borrower repayments and meeting buyback guarantee obligations to investors.
- We’re adding a lending company status filter to the Loan Originators page,
- We’re also adding filters to the Portfolio and Overview.
The filters are currently in development.
Amounts in recovery
To provide more transparency about the portfolio that is active, and the portfolio that is at risk, we’re adding a new tab in the Loan Performance Details section of our Statistics page.
- The active part of the portfolio includes loans originated by active lending companies. For this part, we’ll continue to show pending payments, as they are a normal and necessary part of business operations. You can read more about this on our blog.
- The part of the portfolio that is at risk includes loans from suspended and defaulted lending companies. These are loans where the lending companies have collected borrower repayments and failed to transfer them and loans for which the lending companies have not observed the buyback guarantee. For this part, we’ll show the amounts in recovery. This will give investors faster access to information about the amounts we’re working to recover.
- While these loans are at risk, they are not lost and we expect to recover a significant amount. In cases where a full recovery is unlikely, we will mark amounts for which there’s no reasonable expectation of recovery as bad debt so investors can use this for tax deductions.
- We’re also working on adding information about the amounts in recovery to investors’ Overview page and launching a recovery dashboard similar to the Pending payments dashboard.
The update to the Statistics page will already go live today, while the other improvements are in development and will be released in the next few weeks.