News

My Credit has taken credits of Altea spv srl (a securitisation company) and is ready to start a new plan for the former Freccia Rossa shopping centre in Brescia.

A great result for the entire team, made up of internally trained young people, who managed to achieve a really important result.

Thanks therefore to the whole team!

At this link you will find the interview given to Giornale Di Brescia by CEO Mirko Tramontano.

On today's issue of Il Sole 24 Ore, an interesting interview by Laura Cavestri with Mirko Tramontano, CEO of MyCredit, who talked about social securitizations, a tool provided for by the 2020 Budget Law and My Credit's project.

"The instrument," Tramontano explains, "arises from daily observation: indebted families and businesses wish to retain the property but also manage a manageable debt. We have assessed that social securitization, if used correctly, can be a valid response to this challenge, where the interest is not only that of the investor but also takes into account the rehabilitation of the debtor. [...] For a year now, with a task force, we have been working on the implementation of the instrument, from contractual aspects to impacts on the real economy. The timing is ripe."

The complete article is available only to subscribers.

Giornale di Brescia wrote about the Social Securitisation project launched by MyCredit, the first among institutional investors to have set up a EUR 50 million fund and an ad hoc task force to implement it.

Mirko Tramontano, CEO of MyCredit, explained that this project "can really make a difference for many families who are suffering the consequences of rising interest rates on mortgages at this historic moment. Our innovative credit management model has allowed us to create a very useful tool that until now had remained on paper. At a time when even trade associations and politicians are looking for an answer to these social issues, we believe that it is the task of companies to get involved to help provide a concrete response".

Moreover, adds Dario Bettinelli, Coo and co-founder of MyCredit, "we have identified social securitisation as a tool capable of producing social and economic value. We are proud to be the first in Italy to dedicate real resources to this instrument and to be able to trace the path for its diffusion in the NPE sector".

The full article is available here.

On Avvenire, the article by Rachele Gallegari on the social securitisation project launched by MyCredit, first among institutional investors.

Mirko Tramontano, CEO of MyCredit, interviewed by Rachele Gallegari, explained that 'The decision to adhere to the social securitisation tool stems from an evidence that we have before our eyes every day: debtor families and businesses tell us that they want to keep their property and have a sustainable debt to deal with. We considered that social securitisation could be the forerunner for a path where the interest is not only that of the capital investor, but also takes into account the rehabilitation of the debtor, who is often the fragile figure in the context'.

The project, for which MyCredit has set up a EUR 50 million fund and a dedicated task force, is aimed at families and SMEs, the categories that have suffered most from the effects of financial crises.
"Dealing with the needs that people have has always been both a choice and a business model for us, also dictated by the desire to do something that would in any case be positive for the real economy and consequently also on a social level" explains Tramontano.

The full article is available here.

Milano Finanza conducted an interesting in-depth study on the trend of corporate crisis management in Italy.
Starting from the data released by the Cherry Sea Observatory, according to which new judicial liquidation and bankruptcy procedures opened in 2023 increased by 26% compared to 2022, experts in the sector were interviewed.

High interest rates, difficulties in accessing credit, and an increasingly unstable macroeconomic and geopolitical context all contribute to aggravating the distressed situation of the Italian entrepreneurial fabric. 
According to Mirko Tramontano, CEO of My Credit, 'we are in a historical moment where the indebtedness of companies, especially SMEs, has become a social problem of systemic relevance. It is evident how substantial is the commitment of the financial world, among others, which, while respecting the economic interests involved, can be of help to the weak part of the market. With this in mind, the social securitisation project was recently presented, the first in Italy to be supported by an institutional investor, My Credit, with a significant capital contribution. A first step in reducing the distance between creditor and debtor'.

To read the full article, click here.

Mirko Tramontano, CEO of MyCredit, participated on 16 January 2024, in the Senate hearing on 'The network to protect businesses and jobs to preserve the value of the country'.

After an in-depth analysis of the situation of NPL market before and after the 2008 crisis, Tramontano illustrated the critical issues surrounding NPLs and how the current difficult situation has come about, highlighting the need for concrete action.

On this occasion, Tramontano presented the first Social Securitisation project, created by MyCredit with the aim of helping that category of debtors, made up of families and businesses, who often lack the tools and strength to return in bonis according to the established procedures and timeframes.

Social Securitisation, which was created as a rationale for the Debtor Protection Act, in fact offers families the possibility of preserving their homes despite the fact that they have had difficulties in repaying instalments and their positions have been passed over for non-performing loans.

The full intervention is available, from minutes 1:36:22 - 2:05:44, here.

MyCredit on Corriere: "Mortgages, now securitization helps those who can't afford the installment"

MyCredit is the first among institutional investors to launch a social securitisation, a project created to support families who, due to the rise in mortgage rates and the not easy macroeconomic situation our country is experiencing, have experienced difficulties and now risk losing their homes. 

To support this pilot project, which links finance and real attention to people's conditions, MyCredit has set up a EUR 50 million fund and a dedicated task force.

Social securitisation, introduced in 2019 and included within Law 130/99, is a tool through which My Credit tries to bridge the gap that currently exists between debtors and creditors.

The project was presented on Tuesday, 16 January 2024, during a hearing in the Senate, with the aim of launching a concrete comparison between politics, professional associations and social partners, aimed at finding a solution to the problem of families' and companies' difficulty in meeting their financial commitments.

More information is available at the following link

Mirko Tramontano was interviewed by Erika Tomasicchio for Be Bankers magazine, a portal dedicated to the credit sector.

During the interview, Mirko traced the company's history since its foundation and explained how its strong specialisation in mortgage credits and in particular the analysis of real estate underlyings constitutes a peculiarity compared to other companies managing NPLs today.

But that's not all: MyCredit invests its own capital. More than a servicer, it is a primary investor in the credit market.

MyCredit's goal is to bridge the gap between the financial world, which deals with numbers, balance sheet provisions, and credit securitisation, and the real economy, with a concrete and ethical approach.

To read the full article click here

Our CEO Mirko Tramontano was interviewed by Milano Finanza on the outlook for the NPL market in Italy for this and next year.

The full interview is available here.