Harmoney

[RMJH]

That's a good point, I hadn't thought of that. I'm no maths whizz!



Could you explain that further? I only put a single $25 ticket into any loan so I have as good a diversification as I could get I guess ? Thanks

As a rule of thumb it is best to have at least 100 loans of each of the higher bands in which you invest( 100 A's and 100 B's). The lower the grade the higher the number needed to get full benefits of diversification. This is a bit counter-intuitive because the temptation is to dabble with a few higher risk loans whereas you should actually have more to reduce risk of negative returns. I also do C and D but have several hundred of each based on statistical research by others. I don't think the returns on E & F are worth the risk at this point but with a couple of years of data might re-think. Good luck!

[Darchie]

Ever since the new fee structure kicked in 13th June I've had a Very VERY STRICT rigid criteria that I adhere too.....
Since 13th I've taken 261 loans and in amongst those there's 2 different "F grade" loans that are NOT within my criteria. .... i find this somewhat unsettling! !

Initially I'd kept a personal listing of each loan i went into ... but over time drifted away from that...
I know some would put this down to human error on my part!!! BUT But but!!

Has anyone else kept tight records and found similar quirks ... or even like me quite puzzled as to why these two loans are in my stable!

[Bjauck]

I see the latest retail RAR is now 13.44% - up from July despite the increase in retail fees for new loans.

[Cool Bear]

I see the latest retail RAR is now 13.44% - up from July despite the increase in retail fees for new loans.

Yeap, surprisingly my RAR went up this month. But then I had 5 loans written off two days later. The RAR was dated 20th August even though it was published a 2 or 3 days later

[RMJH]

I see the latest retail RAR is now 13.44% - up from July despite the increase in retail fees for new loans.

That is to be expected for those who have been in for a while because Harmoney cut the platform fee (to borrowers) and replaced it with higher interest rates but we lenders didn't get fee hikes to cover the hole in Harmoney's P&L for another six months. Effectively we got bonus rates for those months and those are now filtering through BUT this will slowly reverse over time as those loans move along the profile and are blended with new loans.

[permutation]

Does anyone else get this following little quirk sometimes when Withdrawing funds from your HM account?

After completing a Withdrawl and taking out ALL availble shown funds.... ( leaving zero funds behind )

Afterwards, you are then shown even more funds still in your account available to still be withdrawn?

This can go on for 2 to 4 Withdrawls before you do finally get to getting to a Zero funds balance ....

I've not said anythng here, before but it still happen 3 or 4 times a week!

I have found that what happens when you log in, you are looking at the snapshot of your account at exactly that point in-time. Harmoney does not have constant live updating.
So when you withdraw some funds an update may have occurred shortly after, then you will see the new balance.
They don't generally update on Monday or Tuesdays but otherwise increasing balance updates can happen at any time. I normally wait till late morning to withdraw funds. If the balance increases shortly after; then well there is more for the next withdrawal.
I have made no new investments since June 13 and the steady stream of withdrawals are handy for spending and redirecting to LC.

[Soolaimon]

It has taken nearly 2 years but I now have one or two loans that are in "credit" ie. I have my investment back and still have a year to go. That looks ok, but on the other hand I have been hit with 2 defaults of $120+ last month. That knocked the RAR %. Still ok with the performance but now I am only taking 1-2 notes rather than 4-6 in each loan. We will see how that goes.

[Saamee]

Am currently seeing many early repayments this week and arrears have fallen in half too.

[whitt]

Interesting loan on now

LAI*00072670

C2 19.67%

60

1.04%

$16,750

Computer

$16k for a computer sounds unusual?

[Saamee]

Have been trialling a Beta of Provence Email Alerts for Harmony over the last week (run by Penny Picker). It's running very well. Anybody else interested in getting alerts get in touch with him via PM.