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Thread: Harmoney

  1. #3431
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    Quote Originally Posted by icyfire View Post
    HM's p2p lending license will expire in one year's time. It will be interesting to see if they will renew it.
    What would possibly make you think they wouldn't? (Scaremongering...) Current loans are out to 5 years...

  2. #3432
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    No scaremongering at all. Just me thinking about HM's recent business model change but I forgot that they would still need the license for the current loan book.

  3. #3433
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    Looks like harmoney are now only allocating 15% of the loan volume to retail

    https://www.harmoney.co.nz/investors...ace-statistics

    Really just a token gesture so they can still advertise as p2p lending I guess.

  4. #3434
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    Quote Originally Posted by bung5 View Post
    Looks like harmoney are now only allocating 15% of the loan volume to retail
    The graph shows *recent* proportion as 17-18%. If you look back over the graph it appears, to me at least, that *more* than 25% has been allocated to retail over the period (a rough guess cutting peaks and troughs is 30%). The current drop may well be a re-balancing to an average of 25%...

  5. #3435
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    Default Still a P2P?

    Quote Originally Posted by bung5 View Post
    Looks like harmoney are now only allocating 15% of the loan volume to retail

    https://www.harmoney.co.nz/investors...ace-statistics

    Really just a token gesture so they can still advertise as p2p lending I guess.
    Perhaps it would be more appropraite if they gave up the pretense of being a P2P then, and morphed into a finance company etc., since they seem to be so focused on appeasing their wholesale partners.

    Funny how wholesalers jump the Q while the little guys wait with their little wallets in a P2P finance provider. 6 weeks and counting...

  6. #3436
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    The 'Volume over time' graph clearly shows some 'slowing' of loan volume. Last week (10/06 - 17/06) there were only 124 loans - at 18% that's only 22 loans for the week, at 25% that's only 31 loans for the week. (about what I think went through)

    The key question, I think, is what is currently impacting loan volume?

    I've noticed a few more Harmoney ads on TV, but I don't watch much TV - so I'm guessing they are trying to increase that number...

    I don't monitor Lending Crowd loans, but receive the emails, my 'gut' feel is that they have been offering less loans in recent times?

    Perhaps a threshold has been reached of people converting from Credit Card to P2P, or perhaps it's just a very slow market at the moment?

    I personally don't think Harmoney are out to crush the retail P2P lenders - it is a huge marketing bonus to sell the idea of Kiwi's lending directly to Kiwi's and 'sticking it' to the banks.

  7. #3437
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    Quote Originally Posted by myles View Post
    The 'Volume over time' graph clearly shows some 'slowing' of loan volume. Last week (10/06 - 17/06) there were only 124 loans - at 18% that's only 22 loans for the week, at 25% that's only 31 loans for the week. (about what I think went through)

    The key question, I think, is what is currently impacting loan volume?

    I've noticed a few more Harmoney ads on TV, but I don't watch much TV - so I'm guessing they are trying to increase that number...

    I don't monitor Lending Crowd loans, but receive the emails, my 'gut' feel is that they have been offering less loans in recent times?

    Perhaps a threshold has been reached of people converting from Credit Card to P2P, or perhaps it's just a very slow market at the moment?

    I personally don't think Harmoney are out to crush the retail P2P lenders - it is a huge marketing bonus to sell the idea of Kiwi's lending directly to Kiwi's and 'sticking it' to the banks.
    Agreed. I see that there is a real 'Slow Down' across all 3 main P2P Lenders.

    What is causing the slow down... Who knows.... Start of Winter, Credit Bubble overload etc

  8. #3438
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    Quote Originally Posted by beacon View Post
    Perhaps it would be more appropraite if they gave up the pretense of being a P2P then, and morphed into a finance company etc., since they seem to be so focused on appeasing their wholesale partners.

    Funny how wholesalers jump the Q while the little guys wait with their little wallets in a P2P finance provider. 6 weeks and counting...
    I wonder at which point they breach Nz advertising standards?
    Only 15% of money is funded p2p by investors yet the marketing implies otherwise.
    Is the marketing beginning to push boundaries?

  9. #3439
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    Quote Originally Posted by Saamee View Post
    Agreed. I see that there is a real 'Slow Down' across all 3 main P2P Lenders.

    What is causing the slow down... Who knows.... Start of Winter, Credit Bubble overload etc
    Feels like the the economy is on the turn somewhat so maybe we are just observing this.
    I don't have data but the level of rewrites also seems lower. If this is the case it is more than just wholesale hogging and loans being diverted to an invisible market place.

  10. #3440
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    To be fair to Harmoney, the statistics (attached) show that there has been a discernible drop in loans (both value and quantity) since the start of the year. It is likely that the institutional placement is more aligned with a dollar value than a percentage of loan numbers so if the institutional dollar value investment requirement remains the same in a reduced market the percentage that they take will increase. The talk in business circles is that consumer confidence has dropped since the change of government - not necessarily because the economy has changed but I think people may be keeping their wallets in their pockets. The cancellation of National's "middle class" tax reductions won't have helped.
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