Yes mine dropped over 50%. Suspect they removed charged off loans.
Also does anyone else have charged off loans with a negative value for outstanding principal. What does that mean?
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Couple anniversary days will be the reason
Anniversary days are not bank public holidays. So should not really make a big difference
Yeah but it appears Harmoney has a larger hands on with their systems than one would ever expect. Also looks like they do have some issues going on as bulk arrears are stacking up and loans showing fully funded are taking longer to leave the in funding fields, just taking longer than in the past ... bet their IT Department are producing more BO than usual!
How do i cancel an order. Harmoney has double processed my order..... and it was a large order too 16 different notes at once.
I confirmed the order it spent ages trying to process the order then errored saying it could not process and gave me an option to review the order. I checked the error and could not see any problem and my available balance had not reduced. So i tried confrim the order again(as i have done before when an order errored processing.) Again it took ages before erroring and saying it could not process. Again i reviewed the order by balance avaiable still had not reduced. Again i could not see a problem. Again i tried process the order and again it took ages before erroring.
But this time the error was different I had not enough avaiable fund for the order. And now the balance has been updated and shows my account has been emptied of available funds. And looking at order history both the failed orders have been processed duplicating the order
Not what i needed on a long weekend.
They definitely processed a number of loans from in arrears to charged off in a short space of time. I like to see them take more control of their process and smooth this out. This will have cleared arrears but also acknowledged some losses.
There is also some room to improve data quality - I had a number of arrears where the client had paid the correct amount but Harmoney had under-allocated principal and over-allocated interest but the client had net paid the correct amount or that were just up to date but somehow tagged as arrears. Some of these cleared... and others appeared in their place (see Prepaid and Up to Date counts in the Aged Debtors summary on the attached image).
Am watching arrears closely because once the aging moves to more than 90 days the probability of reporting defaults appear to rise substantially. Overall Harmoney suggest I'm making 16.01%, I calculate something more like 15.5% and my lazy cash awaiting investments that they don't factor in calculations drag it closer to 14.5%
http://i1159.photobucket.com/albums/...psze40ppe5.gif
Halebop that dashboard you showed, is it from Harmoney or your own. Mine is nothing like that.
It's the secret Harmoney dashboard given to preferred customers... just kidding!... It's mine constructed from data mostly using the export function on their report page but also a couple of manually maintained tables I keep that specifically track defaults and overall performance.
Heartland and others with their 10s of millions must have some automated process?
Can't imagine several Heartland staff sitting down in front of terminals and deciding one by one which peers they will lend their millions to in $25 lots - yes?