Harmoney

[BJ1]

had 6 paid off early in December from 545 loans.
Increased to 18 in January. weird.

I had 13 of 128 repaid in December and so far only one this month. High early repayments in these two months should be expected - but I'd expect your experience, not mine, given that people need to pay for their silly season spending, usually afterwards.

[nztyke]

Finally got my first autolend loan today. Last one was 19 Dec. Not sure if it is because I loosen my filters yesterday to include almost all loans. The single Autolend loan I got, I would have got under the old filter anyway.

What was your Funds Available to Principal Outstanding ratio as per Harmoney's priority criteria? It might give us some idea of where we need to be.

The Auto-lend engine prioritises which Lender it orders notes for first using a prioritisation ratio of 'Funds available' to 'principal outstanding +1'. The Lenders with the highest ratio will get the first orders of notes. For example:

• Lender A has $50 Funds available and $1,000 Principal Outstanding, so a ratio of 5% (50 / 1001)
• Lender B had $300 Funds available and $8,000 Principal Outstanding, so a ratio of 3.75% (300 / 8001)
• Lender C has $8,300 Funds available and $187,800 Principal Outstanding, so a ratio of 4.41% (8,300 / 187,801)

In this scenario, Auto-Lend would prioritise Lender A first, then Lender C, then Lender B.

[Fisherking]

What was your Funds Available to Principal Outstanding ratio as per Harmoney's priority criteria? It might give us some idea of where we need to be.

The Auto-lend engine prioritises which Lender it orders notes for first using a prioritisation ratio of 'Funds available' to 'principal outstanding +1'. The Lenders with the highest ratio will get the first orders of notes. For example:

• Lender A has $50 Funds available and $1,000 Principal Outstanding, so a ratio of 5% (50 / 1001)
• Lender B had $300 Funds available and $8,000 Principal Outstanding, so a ratio of 3.75% (300 / 8001)
• Lender C has $8,300 Funds available and $187,800 Principal Outstanding, so a ratio of 4.41% (8,300 / 187,801)

In this scenario, Auto-Lend would prioritise Lender A first, then Lender C, then Lender B.

.
For the loans i've been buying with autolend recently i'm ok to about 4%, anything higher than this is pretty slow to fill

[Cool Bear]

What was your Funds Available to Principal Outstanding ratio as per Harmoney's priority criteria? It might give us some idea of where we need to be.

The Auto-lend engine prioritises which Lender it orders notes for first using a prioritisation ratio of 'Funds available' to 'principal outstanding +1'. The Lenders with the highest ratio will get the first orders of notes. For example:

• Lender A has $50 Funds available and $1,000 Principal Outstanding, so a ratio of 5% (50 / 1001)
• Lender B had $300 Funds available and $8,000 Principal Outstanding, so a ratio of 3.75% (300 / 8001)
• Lender C has $8,300 Funds available and $187,800 Principal Outstanding, so a ratio of 4.41% (8,300 / 187,801)

In this scenario, Auto-Lend would prioritise Lender A first, then Lender C, then Lender B.

My ratio (cash/total investment) seldom goes above 1% which is why I don't expect much from Autolend if Harmoney continue with this rule. I understand Harmoney wanting to be fair to smaller investors but they are missing the point of the exercise.

Someone with $10000 invested and $500 cash will probably want to do it manually and they will have time to do it as the cash repayments do not accumulate that fast. For an investor with say $80,000, to be in the same 5% ratio, you will need to leave $4000 in Cash to get the same priority. And as you probably have to sign in every half an hour in order to be able to do it manually as the loans dissappear too quickly, you are the one that really needs Autolend.

[Halebop]

...For an investor with say $80,000, to be in the same 5% ratio, you will need to leave $4000 in Cash to get the same priority. And as you probably have to sign in every half an hour in order to be able to do it manually as the loans disappear too quickly, you are the one that really needs Autolend.

Agree!

My reading is that Harmoney is focused on wanting wider distribution of active investors via fixing the experience of new or uncommitted investors rather than more broadly fixing a key customer pain point; a pain in the a$$ amount of activity required to maintain an existing balance and an uninspiring customer experience.

I wonder if I'm an outlier and how do other people behave? I put in an extra $500 or $1,000 every time my cash balance runs down to near zero. At the moment this tends to be around $1,000 to $2,000 per month, last year was over $40k, total capital invested around $75,000 to date. However the approach of sweating capital by maintaining low cash balances doesn't fit well to trigger rules for Autolend.

Harmoney appear to be saying my incremental $20k to $40K per annum plus compounding balances are not worth the effort of a positive customer experience?

[Fisherking]

Agree, it's a very useful tool, but not worth having if it can't be used once you get a few $ invested.

Maybe i'm a cynic but it seems to me Harmoney will benefit if all us investors have a few $ sitting in our accounts unused. Collectively this would sum to a few $ which i'm sure they'll put to use somewhere. This is one possibility for the current arrangement.

My ratio (cash/total investment) seldom goes above 1% which is why I don't expect much from Autolend if Harmoney continue with this rule. I understand Harmoney wanting to be fair to smaller investors but they are missing the point of the exercise.

Someone with $10000 invested and $500 cash will probably want to do it manually and they will have time to do it as the cash repayments do not accumulate that fast. For an investor with say $80,000, to be in the same 5% ratio, you will need to leave $4000 in Cash to get the same priority. And as you probably have to sign in every half an hour in order to be able to do it manually as the loans dissappear too quickly, you are the one that really needs Autolend.

[Robuste]

Does anyone have stats on write offs for original loans as compared with rewrites?

[Finite]

Does anyone have stats on write offs for original loans as compared with rewrites?

No stats - but I imagine the rate of defaults for rewrite people will be larger.
You know, if I just had a little more then all my problems would go away.
Applying for a rewrite is the last desperate attempt to stave off the inevitable.

[Robuste]

Yes my thinking too. I have turned rewrite off on my auto lend filter and rarely manually purchase rewrite loan notes.
I think i will only consider these if the new amount is a minor increase say 10% although one can only guess whether that is the case
as one doesn't see the amount of the original loan, only the paid off amount. However this will be pretty much the same after
only 3 repayments as is often the case.

[permutation]

Does anyone have stats on write offs for original loans as compared with rewrites?

I have checked my write offs(12 Total) and only have 1 that was a rewrite. Lending for 22 months with over 850 loans, have lent for many rewrites so I don't think I will switch that filter off just yet.