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Thread: Harmoney

  1. #4366
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    I can't get an exported report to update my records for end of month. Anyone else also?

  2. #4367
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    Finally got a report to find another 10.5% of my loans (by number) were repaid in August. Seems Harmoney is still marketing rewrites very heavily.

  3. #4368
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    I see earlier today that Harmoney had only listed 5 loans for around 90k in 24 hours. Is this the normal now? I am still withdrawing and transferring to Lending Crowd. Today 8 or more loans for well over 100k in value.
    Soolaimon

  4. #4369
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    I'd say just a bad day for HM.

    This year so far have increase Harmoney Loans by 20k over last year. There is generally more loans on Harmoney then any other platform.

  5. #4370
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    I dislike my decisions proving poor, so I have a strict set of criteria for lending through Harmoney, with decreasing exposure on decreasing total loan size as the risk grade rises. Since harmony started lending its "own" money I have seen many fewer loans which meet my criteria and notice that I am not seeing many of the loans which are being included in the daily statistics - most of the 36 month and smaller size loans don't appear in my searches. Having experienced 5 decades of lending and 4 major market corrections, I will not chase returns by taking greater risk - which I am seeing other people doing now that Trump is upsetting the world markets and reserve banks are destroying passive returns. Generally, the time to chase is in the year after a bottom and not at market peak.
    Last edited by BJ1; 19-09-2019 at 03:26 PM.

  6. #4371
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    Quote Originally Posted by BJ1 View Post
    I have seen many fewer loans which meet my criteria and notice that I am not seeing many of the loans which are being included in the daily statistics - most of the 36 month and smaller size loans don't appear in my searches. Having experienced 5 decades of lending and 4 major market corrections, I will not chase returns by taking greater risk - which I am seeing other people doing ...
    Ditto BJ1. Due to both diminishing loan quantity and quality available to retail investors now, I for one, have continued my withdrawals. Just under half my peak investment has been cashed out now.

  7. #4372
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    Quote Originally Posted by beacon View Post
    Ditto BJ1. Due to both diminishing loan quantity and quality available to retail investors now, I for one, have continued my withdrawals. Just under half my peak investment has been cashed out now.
    There seems to be a conflict between the P2P aspect and the traditional finance company aspect. Shouldn't Harmoney be either the one or the other? It seems the temptation is for Harmoney to favour its big corporate lenders?

  8. #4373
    yeah, nah
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    A very, very interesting podcast (transcript also available) of the ins and outs of Harmoney:

    Podcast 216: Neil Roberts and David Stevens of Harmoney

  9. #4374
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    Yes Myles. Some definite avoidance around the question of exiting the peer part of the business. They are there to make money for themselves and will continue to expand their funding bases to be owner lenders, not P2P.

  10. #4375
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    Cheers for putting that up Myles. This bit says it all

    Peter:
    Right, so are you going to eventually shut down the peer-to-peer side of the business?

    David: No, look I think we’re sort of…I said we look at the diversity of the business in funding. At this point in time, we’ll obviously look to…over time, we’ll continue to assess that, but certainly, we’ve got a lot of lenders on the books at the moment and that does create that diversity for us which is a good position to be in.

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