Trinh Tran #13762

Hi, This pays 30% which seems very high, and risky. My question is this a fully insured loan? It doesn’t say what it is insured against.
Are the funds used for Marketlend themselves?

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leotyndall #13764

Dear Tran,

This is insured and it is insured against a loss of the litigation funds if the claim is denied. As to your question, the funds are not used for Marketlend themselves, they are used to pay for litigation costs, and also servicing costs of Marketlend to the extent it is performing the work.

Feel free to listen to the presentations and also email us on assistance@marketlend.com.au

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123matt #13767

Where are the presentations accessible?
Also the commentary for investors mentions “to fund the enforcement and litigation of US$23.1m of insurance claims”. Does this mean that QBE and The B&C Co which underwrite the insurance for the various loans on the platform aren’t paying up on the various loans under default, hence Marketlend is having to take them to court to get an order for them to pay on the insurance policy claim. Thanks.

Reply

AA A #13910

Do you have any/many of those insurer defaults?

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