Originally Posted by
beacon
Me too...
While their loan quality and service standards have been dropping for some time now, 25% flex loans are now the norm. Investor funds are not cleared same day and in time as they used to be (despite banking and industry improvements in NZ), and risk on their loans for investor has grown while return has diminished.
Their loan quality and return used to be so in demand, loans got lapped up in seconds after they listed. Now they languish for days, and need to be mopped up by their inhouse finance company. Perhaps, due to a conflict of interest between their P2P and finance company models, and forgetfulness about who they could be in NZ P2P sector, with Harmoney gone ...