Harmoney

[Bjauck]

Interesting? - Arrears by Credit Grade graph at the bottom of the Marketplace Statistics page, shows individual grade arrears values - the values I find interesting are the 181 days plus for C (0.13%) vs D (0.15%) and E (0.45%) vs F (0.46%) - very similar for these two pair of grades - does that suggest that they have similar default rates and, for example, if you invest in E grades, you might as well invest in F grades?

Perhaps I'm reading too much into these values?...

Do most arrears "progress" from 121-180 days to default status without reaching 181 days in arrear? If that's the case then the 3.77% of F grades in arrears 121-180 days (Vs. 2.77% of E grades) would indicate the likelihood of a greater % of F grades about to go into default.

Just checking Investor FAQ:
"If we are unable to collect from the Borrower within 120 days, the loan is considered defaulted and moves into a "charged off" status. In some cases, loans may not be charged off at 120 days if there is a reasonable likelihood of payments being made."

It sounds like only a very few arrears would make it past 180 days without being defaulted earlier. The comparative 91-120 days in arrears figures of 2.80% for E grades Vs 4.81% for F grades suggest most defaults have occurred prior to being 181 days in arrear.

https://www.harmoney.co.nz/how-it-works/investor-faq

[myles]

Yeah, was thinking the same thing after I posted. The numbers don't look quite right with the 1-30 coming after the 31-60 either?

Still could be a good indicator of what's happening if monitored over time, though not sure how often the graph will be updated. Wait and see I guess.

[myles]

If you look at the other end i.e. A, B and C at the 120 day point, they are all very close to 0.4%, so perhaps A and B's are of much less value than C's based on the percentage return? (Could just be dodgy numbers???)

[icyfire]

How is it possible for a borrower in their 30s to have been at a residence for 40 years? It makes me wonder if Harmoney bothers to check the info that borrowers provide at all.
Screenshot_4.jpg

[alistar_mid]

do you guys know an easy way to see the breakdown of what made up your weekly withdrawals?

ie I have no auto lend, so any money coming "off" loans goes into my bank account each monday, but what the split between
- interest
- principle repayment
- early loan pay back

I tried downloading the csv and sorting by last 7 days prior to each monday and totaling "last payment amount" - as this at least i think covers everything above, but it doesn't reconcile.

[BJ1]

do you guys know an easy way to see the breakdown of what made up your weekly withdrawals?

I've found that there is nearly always a difference of at least one payment on one loan between what I see in actual payments received in my list of loans and the amounts shown as received on my dashboard. It seems not to matter what time I update my own spreadsheet - something is nearly always missing somewhere. But from time to time it all balances properly.

[myles]

Tough one - timing is always going to be an issue. Not sure you could reconcile anything other than the Monthly statement?

Maybe the difference between the total of "Payments to Date", "Principal", "Gross Int Paid" and "Service / Lender Fee" from the previous week? (To the nearest $25).

Added: When I say total, I mean all time total.

[myles]

Milestone reached today:

Milestone.png

Now to reinvest Principal Received and Interest ($4,213.78)

No loans in arrears past 30 days

[mccollr]

Well done Myles, I reached exactly half of your total today. But with compounding I will reach the 100k soon as well.

[permutation]

Looks like Harmoney have given up updating individual RAR's again. My last one was 03 June. The inconsistent reporting is getting tiresome.