Harmoney

[Whippeedo]

This is probably the most important stats to me. It tells me IF my time spent selecting loans vs random is worth it - and if by being selective I am making things better or worse

I had to extract the platform data from the graph - so there is some reduced accuracy there - as it would appear other then the graph this data is not available.

For some reason I am underperforming the platform on F Grade Arrears - But I am overperforming the platform stats in all other areas including F grade charge-offs

Attachment 8272

Fascinating isn't it. HM is much more fun now. You are beating the platform.

So how much would you charge me to belong to your "these are the loans I am buying right now" text alert service.

Monthly subscription basis? or maybe charge me for each loan you disclose you are buying.

[Whippeedo]

Happy 100 pages on the HM sharetrader forum. Newbies start at the beginning please

[777]

Here is my latest write off.

Has mortgage and a more than adequate income(if it is to be believed)
Total loan a mere $5300. About 12 days of his quoted income.



BORROWER COMMENTS
To start 2015 in a stronger financial position than 2014 has left me in.

LOAN PURPOSE:Other
AGE BAND:40-49
MARITAL STATUS:Married
NZ REGION:Wellington
RESIDENTIAL STATUS:Owned - Paying Mortgage
TIME AT RESIDENCE:20 years
TIME AT EMPLOYER:less than 1 year
DEFAULTS:0
ENQUIRIES LAST 6 MONTHS:0
INCOME TYPE:Employment or Self Employed
MONTHLY LOAN PAYMENT:$191.27
EST. DEFAULT RATE:**1.04%
MONTHLY INCOME (after tax)
BORROWER INCOME:$13,255.13

[Whippeedo]

Here is my latest write off.

Has mortgage and a more than adequate income(if it is to be believed)
Total loan a mere $5300. About 12 days of his quoted income.

BORROWER COMMENTS
To start 2015 in a stronger financial position than 2014 has left me in.

LOAN PURPOSE:Other
AGE BAND:40-49
MARITAL STATUS:Married
NZ REGION:Wellington
RESIDENTIAL STATUS:Owned - Paying Mortgage
TIME AT RESIDENCE:20 years
TIME AT EMPLOYER:less than 1 year
DEFAULTS:0
ENQUIRIES LAST 6 MONTHS:0
INCOME TYPE:Employment or Self Employed
MONTHLY LOAN PAYMENT:$191.27
EST. DEFAULT RATE:**1.04%
MONTHLY INCOME (after tax)
BORROWER INCOME:$13,255.13

B grade loan?
When did you invest in this loan and how long before it went into arrears?
How long before it was written off?

The system for assessing borrowers does worry me a little bit. How carefully is the supplied information assessed and crossed referenced by the HM team? Be good to know more about this process and the arrears & debt collection policy / system.

I've asked them a bit about it but the answers I did get were not specific enough and some questions have not been answered at all.

[RMJH]

Here is my latest write off.

Has mortgage and a more than adequate income(if it is to be believed)
Total loan a mere $5300. About 12 days of his quoted income.



BORROWER COMMENTS
To start 2015 in a stronger financial position than 2014 has left me in.

LOAN PURPOSE:Other
AGE BAND:40-49
MARITAL STATUS:Married
NZ REGION:Wellington
RESIDENTIAL STATUS:Owned - Paying Mortgage
TIME AT RESIDENCE:20 years
TIME AT EMPLOYER:less than 1 year
DEFAULTS:0
ENQUIRIES LAST 6 MONTHS:0
INCOME TYPE:Employment or Self Employed
MONTHLY LOAN PAYMENT:$191.27
EST. DEFAULT RATE:**1.04%
MONTHLY INCOME (after tax)
BORROWER INCOME:$13,255.13

Maybe a business cash flow loan in disguise.... ? I don't read most of the stories but always do for "Other" loans as I don't trust a consumer credit algorithm to predict risk on business loans. If you cannot determine what the loan is for then don't lend. One thing I would like to see is employment and self employment distinguished in the filters.

[777]

Issued 10/12/14.
Arrears 18/12/15
W/O 22/7/16

Grade C2

Total investment $250 and W/O $172.26

So if he still has his/her house then why can he/she not honour their loan.

I only raise the issue as having a mortgage does not necessarily tell you much.

[kiwi_on_OE]

So if he still has his/her house then why can he/she not honour their loan.

This reflects some of my thinking. Good to see Harmoney's comments about debt collection etc., it's a start, but the comments are fairly light weight. What really happens when someone says can't/won't pay? What's the legal situation, can we/harmoney go after other assets, or do we just say, oh that's a shame, best of lucky in the future, an toddle off into the sunset?

[whitt]

If I go to my dashboard and click on arrears it shows this list
Screenshot_4.jpg

Interesting thing is they are all between $23.50 and $22 for outstanding principal. This matches Harmoney's own risk profile which suggests highest arrears rates will be 6 to 8 month mark on each loan.
Do others have similar results?

[kiwi_on_OE]

If I go to my dashboard and click on arrears it shows this list

Interesting thing is they are all between $23.50 and $22 for outstanding principal. This matches Harmoney's own risk profile which suggests highest arrears rates will be 6 to 8 month mark on each loan.
Do others have similar results?

Only a quarter of mine are in that category, the rest have had less paid off. I've been going since the start of the year, and the arrears are spread reasonably evenly over the months since. But that does include loans where the arrears is 0.00(c'mon Harmoney) or only a few cents.

[humvee]

One thing I would like to see is employment and self employment distinguished in the filters.

This is something I have been asking for for a while.The info already exists and is published here http://www.mortgagerates.co.nz/p2p-loans.html - just not in a format that is useful or practical to use when selecting loans

Additional Employment info.jpg