[QUOTE

Attachment 8975


All my defaults are grade E's[/QUOTE]Losing 10% of your interest after a year in indicates your default experience is much greater than Harmoney projects - around twice expected on your figures. Note also that as you are heavily weighted to 60 month, when loans do get written off you will take a bigger hit than if you were in 36 month loans (assuming Harmoney is right in suggesting that the default profiles are similar with regard to time in the loan.