I wouldn't mind paying a premium to get my money out quicker if needed, but I'd rather chose when I can do it (instead of waiting for rewrites). What we really need is a secondary market.
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Got any ratio of your risk grade loans issued?
Mine is:
20% A
30% B
15% C
15% D
15% E
5% F
Around 350 loans 11% RAR after tax and fees. 14% HM RAR
Got Defaulted on by 2 F grades.. To be expected, I would heavily avoid or take caution with these grades
I failed my investor application too, back in the day, just hang in there.. I had to re-send my ID scans. Just email them, they'll help you out
Approx according to their graph (investment spread)
A 6%
B 16%
C 18%
D 24%
E 23%
F 12%
There were 9 loans in total in this case. They were all full ID take overs from stolen ID's (which means all personal details match) generally acquired through breaking and entering. It appears to be a sophisticated fraud ring and this matter is now with Police who were interviewing the suspects on Friday.
The borrower returned the loan funds during the cooling off period (the borrower has 7 days to cancel the loan) but an error meant the account was not cancelled until March (almost 2 months later). As the cancellation was effective Jan it means that the loan would have been on your Feb transaction statement, but not your March. Your transaction statement shows all cash and principal transactions from the commencement of your account. Late reversals or other adjusted transactions may cause the end of month balance to vary from one month to the next.
Thx Dan
Have I got this right, 1) Harmoney didn't record the cancellation when it should have, 2) Harmoney recorded receipt of a payment (Feb) from the borrower that it didn't actually receive (or did the borrower actually make the payment), 3) Harmoney had my money for almost two months without returning it to me, 4) Harmoney retrospectively changes transactions rather than adding a correcting transaction on the date errors are fixed.
What compensation is Harmoney paying to investors in this loan for the almost two months they didn't have access to their money?