Peer-to-peer Network loan fraud risk high bad debt rate no statistical standard

Newspaper reporter Li Yumin Beijing report

While Peer-to-peer investment is getting hotter, bad situations are a secret that every platform is unwilling to mention. Recently, Lu Jin chairman of the Jiqu in public "self exposure" the platform of the poor bad debt rate of about 5% to 6% after the year, triggering a lot of speculation outside the Peer-to-peer.

21st Century Economic Report reporter interviewed a number of Peer-to-peer platform leaders and third party agencies have said that, because the industry lacks a unified standard, the various platforms of bad loans to define standards and calculation of the gap between the larger. As a result, published data are not comparable. The industry is facing the rise of fraud risk and the high level of bad, but also test the many platforms of wind control mode.

Bad debt rate "smoke and mirrors"

"Assessing the security of a platform is a very important indicator," said Xu Hongwei, a net-loan home CEO, in an interview with the 21st century economic reporter, December 3. Unfortunately, most platforms are unwilling to disclose this data, and some public data is below the actual level. It is difficult to judge the security of a platform with the data we have, but we will simply judge the shareholder background and online transaction data. ”

Peer-to-peer industry is in an awkward position. Due to the lack of unified regulatory standards and evaluation criteria, the calculation of the bad debt rate between the various platforms and the standard of determination vary greatly. For example, Lu Jin, such as the relative standard of the platform is to refer to the bank's calculation method, 90 days overdue is considered bad. There are also platforms for the data to look good, borrowers can not pay for the rollover.

Xu Hongwei said, "according to our understanding of the situation, generally there is a pledge of private lending, the overdue rate may reach 20%-30%." But within one months, there will be 60%-70%. Some platforms will be extended to borrowers, extending the loan period, and finally even when the interest can not afford the bad debts, the common level of bad debt rate is 6%-8%. Collateral will also go wrong in the process, eventually leading to 3% of the eventual bad debts. ”

Pure credit loans will be higher, typically at 10%-12%, about 2-3 times the mortgage-backed loan. So, now many peer-to-peer platforms have contracted pure credit loans, Xu Hongwei revealed.

According to the Pat Loan CEO Zhang introduced, Pat credit the standard of bad debts is also 90 days overdue, at present the platform bad debt rate is about 1.6%. "There is a case of overdue, partly because the borrower deliberately cheated, which is also related to the ability of the platform to anti-fraud." ”

He admits that the proportion of early pat credit fraud is higher, and later the anti-fraud system has improved dramatically. "Of all the overdue loans we have now, only not more than 5% of our borrowers have been cheated, and 95% have had problems with their operations," he said.

According to Zhang, Pat loan anti-fraud system is through large data, multi-angle to understand the borrower. If the borrower provides false identity information, such as the identity card and name can not match, or the use of other real identity information to register, the fraud system is very simple to identify. If the borrower uses the real information to register, but for the purpose of fraud, it needs to be screened by the borrower's behavior.

He Kun, who is on the line in October this year, believes that the bad peer-to-peer situation is mainly related to the size of the loan and the stage of development of the platform. The platform asset project mainly from the parent company Magnolia officinalis Factoring, in the wind control also has Magnolia officinalis fallback, plus http://www.aliyun.com/zixun/aggregation/18156.html "> online time is shorter," there is no bad happening.

Zheng Weibo also said that different platforms, asset quality gap is large. Peer-to-peer, small loan companies for small micro-enterprises and individual credit loans, the overall bad rate will be higher than the bank, probably in 5%-10%, the control is better in 4%-5%, individual radical May to 10%. But the small loan industry because has the higher service charge and spreads spreads, may cover afore-mentioned bad, the industry overall operation is stable.

According to Zheng Weibo, the calf online small micro-credit business on the line soon, its determination of bad standards is 30 days overdue is classified as bad. At the end of the three quarter of this year, its adverse rate accounted for about 0.16%. Zheng admits, "because of the late start, some of the stock of bad has not been reflected." By the end of November, calf online small micro-credit this part of the loan, the non-performing rate of about 1% points.

"Calf online small micro-loan rate of poor target control within 5%, the overall platform of the adverse rate of control within 2.5%." Zheng Weibo said that in his view, the future Peer-to-peer competition is mainly the competition of the project rather than the competition of investors.

Different wind control modes in different platforms

General Peer-to-peer Wind control mode can be divided into their own wind control and the introduction of external wind control two types of models. The introduction of external wind control is generally associated with the risk management or use of financing guarantee company for security. The platform to do their own wind control approach is generally to take into account the risk of petty cash or third party to fallback.

As for the borrower's fraud, He Kun that the main platform to rely on wind control. The better way to identify borrowers is offline research, but the cost is higher and efficiency will be affected.

has been adhering to the "platform does not promise to advance the principal and interest" and "only do online mode" of the racket loan seems to be more "alternative." Zhang to the 21st century economic reporter that the reason for not providing guarantees is that the scope of the provision of guarantee business is subject to capital constraints. Adhere to the online model also has its own consideration. He said that the main line of wind control is to see the technology platform, "what is the ability to choose what kind of cake to eat." In contrast, the advantage is lower cost, business development is not subject to geographical constraints.

The wind control of the racket loan is more the principle of small dispersion. According to the introduction, the loan is all credit loan, the average amount is only five thousand or six thousand. Mainly to meet the needs of borrowers to consume. Its "principal guarantee" is also to encourage investors to diversify risk, to meet the principal guarantee condition is "investment full 50, the amount of each sum is less than 5000 yuan, and a single sum is less than 1/3 of the total investment." ”

The Mavs ' online wind-control model is also a "risk petty cash". According to Zheng Weibo, the initial period is the shareholder contribution of 10 million yuan, then according to the different types of loan assets, to a certain standard to carry out, if the poor continue to improve, the plan may increase. With regard to the introduction of external guarantees, Zheng Weibo that full reliance on external guarantees may be abducted by third-party security agencies.

Jiqu also mentioned that the biggest risk of peer-to-peer is not credit risk but fraud risk. "We may be able to find a way to solve the fraud problem in China with big data, and if we can't find it, the Peer-to-peer model may fail," he said. ”

In addition to the borrower's fraud, Peer-to-peer platform "run" frequent occurrence, but also caused investors to the platform moral hazard concern.

Zhang see that, excluding malicious fraud platform, almost all of the "running" platform has the following characteristics: To provide security, and even to do the pool of funds, relatively large assets, at least hundreds of thousands of, operating time is relatively short, almost all within a year.

Fund-hosting is one of the powerful ways to prevent the platform from using false project fraud to "roll money".

"At the moment, 99% of the Peer-to-peer is not hosted, and many of the alleged custodians are in the bank's ordinary accounts." After the investor bids, the money goes into the platform account and is raised and transferred to the financing party. He Kun revealed that the real custodian is that investors and borrowers need to open escrow accounts in third-party payments, and that the platform only publishes the underlying information and does not involve any funds. (Edit Zhao)