-
24-06-2020, 04:41 PM
#4571
Originally Posted by tim23
I'm finding that the ratings meant very little a lot of my defaults are the better graded loans!
Same with me - my highest rated loan (A3) is the only one in arrears (everything else is fine for me as of writing)
-
26-06-2020, 02:14 PM
#4572
yeah, nah
The effects of Job losses, business failures etc. from COVID-19 are not likely dependant on loan rate (i.e. likely ability to repay) - so it's quite possible that effects will be felt across the full rate range? e.g. if a well established small business that relied on an expected 'guaranteed' tourism based turnover, or someone who worked for same, received an A rated loan 6 months ago, I doubt too many would have raised an eyebrow?
At this point I'm not seeing the loses that I thought might be seen - still running a 15.06% RAR, but that may be due to my loan selection. My net-charge offs are not excessive at this stage.
How are others RAR and charge offs going?
-
26-06-2020, 03:42 PM
#4573
Member
Originally Posted by myles
At this point I'm not seeing the loses that I thought might be seen - still running a 15.06% RAR, but that may be due to my loan selection. My net-charge offs are not excessive at this stage.
How are others RAR and charge offs going?
RAR 10.75% (hasn't moved much in the last 6 months)
(my own XIRR is 11.56%)
244 loans
Hardship 18 (A 1, B 1, C 3, D 6, E 7, F 0), whereas my portfolio is exactly centrered on Cs, then Bs and Ds, then As and Es with very few Fs. So I notice hardships are more heavily weighed towards the riskier loans in my case.
Just one charge off since end of March. (I only have ever had 3 charge offs incidentally: 1 B, 1 C and 1 E.)
So in my case, it's the hardships: I had one before COVID-19 hit, and 17 more in the past 3 months. I don't expect much from them, not too sure about Harmoney's willingness to truly help and see them through. I suspect they'll slowly morph into charge-offs.
Last edited by Toukshare; 26-06-2020 at 03:43 PM.
-
26-06-2020, 06:04 PM
#4574
yeah, nah
This is what my breakdown looks like:
Grade |
Active Loans |
Hardship Loans |
B |
14% |
12% |
C |
33% |
29% |
D |
34% |
42% |
E |
17% |
17% |
Pretty much across the board for me - heaviest in the D grades only a little less in the lower grades.
52 in hardship out of 723 so 7% in hardship.
Last edited by myles; 26-06-2020 at 06:13 PM.
-
28-06-2020, 02:08 PM
#4575
Member
Arrears |
3570.3 |
3.36% |
104 |
|
Current |
93106.71 |
87.59% |
2329 |
|
Hardship |
9320.15 |
8.77% |
193 |
|
Protect Waiver |
305.16 |
0.29% |
8 |
|
Total Outstanding |
106302.32 |
|
2634 |
40.3577524677297 |
By dollar value. Out interest - seems to be a move toward hardship from arrears as predict by forum. Seems to be more movement in current(people paying back/refinancing ) than towards other categories, no real change to the late categories - i dont follow stats before covid (bc). July/august will be interesting as things begin to bite economy wise.
Whats everybody else doing with their money ? are we all of to squirrel ? shares - or just sitting on it ?
Last edited by IntheRearWithTheGear; 28-06-2020 at 02:14 PM.
-
28-06-2020, 05:06 PM
#4576
Originally Posted by Toukshare
RAR 10.75% (hasn't moved much in the last 6 months)...
So in my case, it's the hardships: I had one before COVID-19 hit, and 17 more in the past 3 months. I don't expect much from them, not too sure about Harmoney's willingness to truly help and see them through. I suspect they'll slowly morph into charge-offs.
When the hardship repayment holidays end, that could be when we see a big dip in RAR as capital charge-offs climb. So that could be in a few months time if 6 month Covid repayment holidays were granted.
-
29-06-2020, 11:41 AM
#4577
Member
Originally Posted by IntheRearWithTheGear
Whats everybody else doing with their money ? are we all of to squirrel ? shares - or just sitting on it ?
Personally, transferring to LC as it trickles from HM. LC seems to have had a healthy amount of loans coming through.
-
29-06-2020, 12:28 PM
#4578
Member
Originally Posted by Toukshare
Personally, transferring to LC as it trickles from HM. LC seems to have had a healthy amount of loans coming through.
LC is too hard to get invested in. I have better things to do than sit around all day waiting for loans to land then having 2 minutes or less within which to invest. I've stopped investing in LC dropping from $120k to $90k over the last 6 months.
-
30-06-2020, 12:59 PM
#4579
Member
If you are over 65 think about your kiwisaver potential.
-
01-07-2020, 02:14 PM
#4580
Member
Originally Posted by joker
LC is too hard to get invested in. I have better things to do than sit around all day waiting for loans to land then having 2 minutes or less within which to invest. I've stopped investing in LC dropping from $120k to $90k over the last 6 months.
I don't disagree but there aren't *many* other options
Tags for this Thread
Posting Permissions
- You may not post new threads
- You may not post replies
- You may not post attachments
- You may not edit your posts
-
Forum Rules
|
|
Bookmarks