Milestone reached today:
Attachment 8951
Now to reinvest Principal Received and Interest ($4,213.78)
No loans in arrears past 30 days :p
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Milestone reached today:
Attachment 8951
Now to reinvest Principal Received and Interest ($4,213.78)
No loans in arrears past 30 days :p
Looks like Harmoney have given up updating individual RAR's again. My last one was 03 June. The inconsistent reporting is getting tiresome.;)
Well done Myles, I reached exactly half of your total today. But with compounding I will reach the 100k soon as well.
Anyone asked recently about adding "Enquiries" to the filters? Is there any way to get data on defaults vs enquiries? Anecdotally this seems like a good indicator and one I would like to add as a filter.
Enquiries Last 6 Months is a column in the 'Loans Export Report' so you could review your own loans.
From what I've seen, I don't think it is usable - it seems many borrowers shop around quite a bit before settling on Harmoney as the Lender, hence the 'Enquires Last 6 Months' can be quite high, even for the 'good' borrowers. Just my observation.
Interesting anomaly on my first RAR (I hope).
Listed today as 11.60% as at 17/06/2017.
Current XIRR: 17.3% (which includes reduction due to tax, but not losses due to defaults as yet).
I see this discrepancy due to three things:
1. The first month investment was relatively small (initial cautious approach)
2. The amount invested in a short period of time
3. The RAR calculation includes the last month investment, but not the bulk of the resulting interest for that month
Based on the above I'd hazard a guess based on the ratio of investment in the last included month:
(1 + (33149.33/85424.52)) * 11.60 = 16.1%
However, my initial month included significantly more A and B grades, so I think 16.1% is very conservative.
I guess I'll just have to wait a few months to get a more meaningful value...
My conclusion - RAR is not a good base value to use early, and over time gives a poor indication of 'current' earnings - using XIRR is likely to be a much better choice.
Attachment 8956
Harmoney RAR graph.
I'll post my results so far. I've been investing with Harmoney since April 2016. My investing is probably a bit unusual in that I only invest in 36-month loans. I also do not invest in F-grade loans. I haven't attempted doing any of my own RAR calculations, everything below is generated by Harmoney.
Total number of loans: 597, no more than 4 notes each
Loans paid off early: 164
Amount invested (deposits): $18,275, all interest re-invested
Gross interest received: $2,374
RAR (as reported): 16.92%
Current grade distribution by $value(approx): A=21%, B=25%, C=20%, D=19%, E=15%
Amount in arrears: $48
Number of loans in arrears, not counting those listed <30 days: 12
Arrears breakdown by grade, again not counting those <30 days: A=0, B=1, C=0, D=4, E=7, F=not invested
Loans >180 days in arrears: 1, grade E5
Charged-off: $0