Thanks, a good reminder that Harmoney is supported by high quality management, board, and shareholders.
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I'm getting different numbers:
"2018-05-27","784239575.0","42189"
"2018-06-03","785984775.0","42254"
$1,745,200 and 65 loans
It seems likely the date listed is the week starting date.
From here https://app.harmoney.com/api/v1/public/statistics/investor/volume-over-time
...but yes, I now see that slingy is correct in that the date is the week starting date and thus there was only 1 day's worth of loans in that (first day of the) week. My bad!!
Yeh completely. Although platform is averaging 20% with a lower average interest rate!
Just for Kicks. Not the most useful comparative stat, as ignores the hazard curve.
Platform RAR 9.94%
Platform Fee (2.91%) (assume ave 17.5% fee)
Platform Chg (3.76%)
Platform Adj RAR 16.6%
Platform Arrears (3.8%). So potential Platform RAR of 6.14% if all Arrears go bad.
My Portfolio
RAR 14.19%
Fee (3.6)%
Chg (0.4)%
Adj RAR 18.2%
Arrears (9.3)%. Potential return 4.9%.
(Arrears taken as all outstanding principal aged beyond 1 day on order report, some of which Harmoney show as "current")
Just logged in to check if I had any payments come in lately. Checked the marketplace, 0 new loans in last 24 hrs.
Harmoney says...
Following the recent announcement on 04 May 2018, there have been a few recent changes to loan allocations on the platform.
We now have 2 marketplaces:
1. Peer-to-Peer, where loans are funded from investments by retail and wholesale investors through our p2p marketplace; and
2. Wholesale funding, where whole loans are funded by our institutional partners.
The loans are then allocated for funding from either source in accordance with Harmoney’s Loan Allocation Policy.
Harmoney’s loan allocation policy is designed to allocate loans between the wholesale and retail investor marketplaces on a fair, reasonable and equitable basis to ensure that each marketplace receives a representation of the overall risk grade of Borrowers approved to submit their loan. For more information: https://www.harmoney.co.nz/how-it-works/marketplace-management
I suspect that they wish to close the gap between the retail and wholesale RARs caused by retail investors selectively investing in the better loans and leaving the riskier loans to be filled by the wholesale investors. How else can one explain the variance in RARs?
Hmmm, interesting that they say that 'we now have 2 marketplaces' - the ability for wholesaler's to fund whole loans, I thought, was always available to them - suggesting that the '2 marketplaces' always existed. The ability for wholesale investors to invest in the 'p2p marketplace' is the one thing that I think may have changed i.e. that wholesalers can play in our sandbox and, I assume, pay the same fee's etc. that we do (this may or may not be new).
Where did the above come from joker?
In response to an email I sent them complaining about disparity since May between the total number of loans and the number appearing on the market place as well as the way that loans were disappearing from the marketplace when only 20% full. (Their response suggests that wholesale/institutional investors were filling them with large placements).
Really Borrowing $25K for a computer?
Repayments 20% of total income and still gota pay rent in auckland!
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