What I understand on how buyback guarantee work is loan originator offer the loan to gain liquidity of cash.
So how loan originator earned is the actual interest rate from the borrower minus interest rate paid to the investor
What I do is scanned through the European p2p, find it interesting because the structure is very different from the Asia market. I never do much research into it.
U would have additional focus, the business of loan originator which provides the cashback buyback vs the non cashback.
They also have secondary market to buy and sell pre existing loan.
There could be a lot of varying strategies to go around with their p2p. At the same time, risk is higher