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When purchasing of receivables funds regardless of our strategy, we always think about the risk. When someone decides to trust a portal like iuvo with their receivables, they usually ask themselves, “What if an originator leaves or even goes bankrupt?”
Due diligence
Our criteria are accurate and clear – these include a careful study of the originator’s history. Each of our current partners have gone through a due diligence period during which property, financial health and portfolios were traced. Even after they have been included to the portal, we monitor the financial situation of each originator every 3 months to confirm that they have no difficulties that would affect iuvo and our users.
Originator Page
The information about our originators is available on our updated page “Loan Originators”. It’s a good idea when purchasing of receivables in iuvo to take a look at borrowers and borrowers’ profiles but also to get acquainted with the current status and history of our originators. You will be able to see the state of the activity of each originator, including ratings, currency, the types of credit they offer, the value of their loan portfolio, their regulating bodies, and whether they offer a buyback guarantee. We remind you that the originator is obliged to repurchase your receivable if it occurs that the credit you purchased in has been delayed for over 60 days. Currently, all portal originators are committed to offering a buyback guarantee. In order to be as forthcoming as possible, we have provided details for you on the originator page, such as the net profit of the originator, as well as a percentage of their minimum obligatory participation in any credit granted for receivable with us.
And yet, if the originator terminates our relationship …
In the rather unusual event of termination of the relationship with an originator, they would stop uploading new loans, but they would also be committed to continue to send information about current loans and how they would pay off. At iuvo, we strictly monitor the allocation, payment, and addition of loans to the portal, as well as the activity of the originator by reviewing the financial statements every quarter. This is how we cover extreme situations such as bankruptcy of an originator, for example, and we guarantee that everything stays legal and runs according to the initial plans. The contractual relationship with each originator provides for a variety of sanctions that go into effect if irregularities occur. So far, that has never been the case.
