Welcome to DoFinance Insights and outlooks! Yet another month has passed!
In this blog the DoFinance provides a brief update about portfolio sales carried out by the Loan Originators in Poland and Indonesia as well as about the delayed payout requests.
Portfolio Sale and Repayment
As it was once outlined, we, the DoFinance, are going hand in hand with our Loan Originators who are on the verge of selling the Poland portofolio. We also urge our customers to remember the basic mechanics of the collection and repayment process – only after the LOs have the funds from portfolio sale, the DoFinance is able to transmit these funds to the respective bank account of the DoFinance investors.
By the most optimistic evaluation, this process should be done by the end of November, but could still take up a few additional weeks. Portfolio sale process is not standardized and thus DoFinance, to avoid miscommunication, provides a time period to finalize the matters, rather than a concrete date. However, we are proud to announce that the Memorandum of Understanding, which is basically a preliminary official document that precedes the real-deal agreement, has been signed. According to this agreement the last dates of November are the dates when the final signatures should be placed on the finalized agreement on portfolio sale in Poland. That’s right! DoFinance is one step away from the Polish portfolio sale.
What concerns Indonesia, our partners, the Loan Originators, are in active search of a viable portfolio purchase offer. Several offers have been turned down due to inadequate pricing. As soon as Loan Originators reach milestones in this regard, an informative blog post will follow to keep our clients abreast. After this is done, almost immediately the DoFinance receives the funds from the portfolio sale and disseminates these funds among affected investors.
Leaving the portfolio sale there and moving on to the payout requests that DoFinance expected to pay on 30.11.2022 might still be postponed for a later date. The closest date when the DoFinance expects to complete all the payout requests should come within several weeks. However, already this week we expect an update in this regard. Given this is positive news, the payouts are to be paid out already this or next week. If this unfolds the other way – the payouts are moved slightly to a later date.
The DoFinance, of course, plans to complete the request as soon as it is possible meanwhile heavily relying on its customers’ patience and understanding.
If questions remain, please use our support e-mail for any clarifications.