Harmoney

[myles]

How are your defaults looking as a % of interest?

Still 10%'ish, but I've never seen the point of this comparison. If an investor invests in higher risk loans, this value will be high but the return will also likely be high - an investor who invests in low risk loans should have a low value, but a corresponding low return...e.g. if an investor only invested in loans with interest rates of say 30% and had a default to interest % of 30%, they would be doing very well. It's not a comparative value.

I think the Harmoney team have all wandered of skiing for a few days and everything will be back to normal soon........

[whitt]

Check out the platform stats for auto lend volume.

Last couple of days it was only 3k and 1k each day. Compare that to a few months back when it was 50k to 100k per day.

There's something seriously wrong at Harmoney

[RMJH]

Still 10%'ish, but I've never seen the point of this comparison. If an investor invests in higher risk loans, this value will be high but the return will also likely be high - an investor who invests in low risk loans should have a low value, but a corresponding low return...e.g. if an investor only invested in loans with interest rates of say 30% and had a default to interest % of 30%, they would be doing very well. It's not a comparative value.

I think the Harmoney team have all wandered of skiing for a few days and everything will be back to normal soon........

Yes, and similarly RAR can only be reasonably compared when you allow for the grade mix. Same with shares and gearing.
It's a holiday weekend so low listings to be expected but we do need clarification of the existence or otherwise of a parallel market.

[Vagabond47]

Yes, and similarly RAR can only be reasonably compared when you allow for the grade mix. Same with shares and gearing.
It's a holiday weekend so low listings to be expected but we do need clarification of the existence or otherwise of a parallel market.

I think it fairly clear that Harmoney itself is just another wholesale investor. What I want clarified is why the retail volume has dropped, and when its expected to return to normal volumes. If this a couple of weeks of slow retail loans because harmoney has injected ~$8m of capital into the market that is fine, but if this is because of a lack of overall loan applications being received/approved I need to set up auto-withdraw and find a new home for my money.

[RMJH]

I assumed "Fully funded loan amount" includes wholesale and retail ie it's the whole market. If so, the reduction in this amount wouldn't be explained by Harmoney's participation which just reduces retail market share.

[slingy]

2018-05-30 Funded Amount:1160400 Total Amount:1321800 Unfunded Loans:3 Part Funded Loans:0 Fully Funded Loans:45 Total Loans:48	2018-05-31 Funded Amount:873000 Total Amount:995600 Unfunded Loans:4 Part Funded Loans:0 Fully Funded Loans:39 Total Loans:43	2018-06-01 Funded Amount:606400 Total Amount:694750 Unfunded Loans:6 Part Funded Loans:0 Fully Funded Loans:30 Total Loans:36
2018-06-02 Funded Amount:70550 Total Amount:266675 Unfunded Loans:7 Part Funded Loans:0 Fully Funded Loans:5 Total Loans:12	2018-06-03 Funded Amount:10450 Total Amount:223525 Unfunded Loans:6 Part Funded Loans:0 Fully Funded Loans:1 Total Loans:7	2018-06-04 Funded Amount:5450 Total Amount:881575 Unfunded Loans:31 Part Funded Loans:0 Fully Funded Loans:1 Total Loans:32

The last 6 days brought to you by the API.
So the loan volume is still there we retail lenders just don't get to see them.
It also seems that of almost none of today's loans were released onto the marketplace.

[beacon]

So the loan volume is still there we retail lenders just don't get to see them.
It also seems that of almost none of today's loans were released onto the marketplace.

Still a P2P?

[RMJH]

Funding mix graph (which has monthly data points) hasn't been updated since October 2017.

[myles]

Yes, and similarly RAR can only be reasonably compared when you allow for the grade mix. Same with shares and gearing.

Disagree, RAR allows comparison of portfolios and the various strategies used. It is a comparable value as it takes into account the whole investment - its one failing is that it only looks at current loans.

[Bjauck]

Still a P2P?

Good question. This plus The absence of an official tax ruling (or application for one) in relation to both lender fees and charge-offs for the small retail class of investor/lenders would indicate to me that they are more interested in the wholesale and “in business” lender side of “peers”.