I currently have $1103 Funds Available and $93k in principal outstanding. There are 5 loans listed as we speak that meet my criteria. How much more in funding do i need for Autolend to kick in?
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How long is a piece of string? For argument's sake, say loans had been set to be funded 80% by Auto-Lend today and that 80% could be met by people with a higher available cash vs outstanding principal ratio than yourself then you won't get to invest in any loans. It's impossible for anyone to tell you what ratio you should have. It's worth noting that some loans listed by Harmoney bypass Auto-Lend entirely as you are probably aware.
It's a simple case of limited supply. Multiple people on this site are getting quite upset with Harmoney over this. If they had more loans to offer you, common sense suggest they would give them to you. If the amount of available cash you have is consistently too high for your liking, consider your other options for the meantime.
You could consider including 60month & payment protect loans in your filter if you have not already (at your own discretion) and also review your criteria to see if you can loosen things up a bit to increase your investments. Otherwise it is a waiting game.
I think someone here had an app that notified new listings. Could be this is what is sucking out loans so quickly rather than autolend? Though of course doesn't explain why so many loans seem to skip autolend altogether. I guess Harmoney can't please everyone all the time and new lenders need a fair go. It was great for a while when autolend kept cash low but now have reverted to checking.
I have thought of a fix for Harmoney and autolend issue.
Bearing in mind the 2 rules I assume they set on each loan (% of loan allowed to autolend and prioritization)
Harmoney could have the the % on those rules change versus time.
The reason I say that is some loans that meet my Autolend sit for hours not picked up by public also.
Why not after a set period of time if they dont get picked up by public let the autolend buyers have a go at getting them.
Harmoney computer system could loosen the % rules every hour and that way public get a fair shot at them and autolend buyers can
pick them up too
Hope that makes sense.
Has anyone been observing the % filled on the loans that match their auto-lend filter. One I noticed several days ago was at ~60% filled when I observed the %, but that was at least a couple of hours after I first noticed the loan, so presumably it kicked out of the auto-lend process at 50% or less.
Harmoney hide behind referring to their website where they only say that loans can have an auto-lend limit, not that they do, so perhaps we have to try to work it out for ourselves, of course it might be different for different categories, loan amounts etc.
I use this : https://addons.mozilla.org/en-US/fir.../check4change/
i highlight the number of loans available and set to check every 5 minutes. Then whem it changes it plays a sound so you know t hat there are new loans available.
Hi all,
Long time reader, first time poster.
I too have not had an auto loan for about 10 days even though there is an A3 loan which suits my criteria, available right now.
I've had loans go in via auto lend on dec 20. 19, 18, 17, 16 , 15 and so on. They are just less abundant. Also have seen more loans skipping Auto-Lend as everyone else has.