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For us, at iuvo, it is important to communicate with you regularly. We insist on sharing news about our loan originators and to give you useful information, which you can apply while using the portal.
Today we will pay attention to the score class of the loan receivables on iuvo. What does it mean, how it can be used and why is this information important?
Score class is a filter that users often add to their automatic settings. Its main purpose is to find balance between expected annual return and probability of delayed payments. In combination with the rest of the filters in the Auto Assign, you can use your funds on iuvo more efficiently.
The score classes help make the receivables of loans, issued by different companies, comparable. It shows you what the probability is for the specific borrower to not fulfill the predefined payment schedule they have agreed on and to delay the full repayment of an installment. Behind the score class stays a percent, which is determined by the client profile (employment, salary, marital status, age, education, etc.), their credit history and other factors.
The probability of delayed payments by the borrower is described in ascending order in the different score classes, as follows:
Class A: 0 – 4%
Class B: 4 – 10%
Class C: 10 – 18%
Class D: 18 – 25%
Class E: 25 – 35%
Class HR: over 35%
It is needed to note that these are average rates and as there are loans in score class HR that get paid on time, there are loans in score class A or B, for example, that is possible to have some delays as well.
In order to have better diversification of your receivables between the different originators, please be aware that each company is specified in issuing specific loans with different segment of borrowers.
If you would like to use iuvo more efficiently, it is important to know what receivables you can expect from each originator. The credit companies provide you with opportunities for purchasing of receivables with different expected annual return for the different segment of their borrowers. It is important to keep in mind the maturity of the loans and other specifics in order to purchase receivables that match your criteria and exist on our market at the moment.
If you need any assistance to use iuvo more efficiently, please contact us via chat, phone, or email, or contact your personal account manager directly.
Make your money work for you with iuvo!
