Spanish mortgage lender FIREOF adds another SPV to Mintos

14.08.2018

mintosblog

Spanish Mortgage lender FIREOF that was recently launched on Mintos has added another SPV, Collateral Investments SL, to the marketplace. With the addition of the new SPV, you now have even more investment opportunities in Spanish mortgage loans and you can enjoy net returns of up to 8%.

Collateral Investments SL is the second Special Purpose Vehicle (SPV) from FIREOF to place its loans on Mintos. Collateral Investments SL only lends against residential assets. Collateral Investments has a vintage portfolio which means they will only place loans with a proven track record of timely repayments.

“Collateral Investments is a leading company in the Spanish non-banking mortgage market, for the last few years we’ve developed our activity constantly in a changing environment, adapting our structure and processes to the legal and economical requirements. During this time, our vision has been the same, we strive to be the leading finance group, trusted by clients, partners and the market”.

“Our motivation is to offer this matured portfolio opportunity for investors on Mintos to have access to our best vintaged loans. We have selected only proven performance loans opening a window to retail investors to earn the compounding interest from strong financial assets protected by real estate,” said FIREOF Managing Director Agustín Fernández Clemente.

The average Spain-issued mortgage loans from Collateral Investments SPV on Mintos will be EUR 30 000 with a repayment period from one to five years, which will be paid in monthly instalments. The loan-to-value (LTV) ratio is not greater than 35%. The typical borrower is a middle class wealthy real estate owner with a need for short-term liquidity.

To keep its interests aligned with investors, FIREOF will maintain 15% of each loan placed on the marketplace. The loans are not secured with a buyback guarantee.

All loans and investments will be held by both SPVs while FIREOF will service the loans. An SPV is a subsidiary company with an asset/liability structure and legal status that makes its obligations secure even if the parent company were to experience financial difficulties. The loan originator as a pure cashflow SPV, has no employees nor liabilities except from the assignments of Mintos investors and its own equity from its investors and shareholders. The SPV adds an extra layer of security for investors on Mintos.

FIREOF’s mission is to provide Spanish consumers with an alternative way to acquire funds. The company was established in 2015 and it is an asset secured lending business. FIREOF provides its credit products through established brokers and it is fully licensed and audited.

As of June 30, 2018, FIREOF has an assets under management portfolio of EUR 25 million. The management team of FIREOF, which consists of eight full-time senior employees, has a combined experience of more than 100 years in the Spanish real estate lending business.

This is a great opportunity to invest in Spain-issued secured mortgage loans from another SPV from FIREOF. If Auto Invest is your preferred way to invest on Mintos, then don’t forget to update your settings accordingly.