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Thread: Harmoney

  1. #4546
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    2020 RWT Tax Certificates now available @ HM

  2. #4547
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    News just out at interest.co.nz

    SELLING DOWN
    The founder of the country's first peer-to-peer lender Harmoney has sold down his stake by offloading over 5 million shares. Companies Office records show that Neil Roberts, who once owned virtually all (98%) of Harmoney when it started in 2014, had sold the shares to Tasman-based Michael Lookman. No price is given. Roberts, who has moved back from managing the company, now owns 28.8% of Harmoney, down from 30.8%. And while his stake has been gradually getting diluted since 2014 this appears to be the first time he's actually sold any. Lookman, who first bought into the company towards the end of last year now owns 10.9%. Other big shareholders are: Kirwood Capital Partners (13.4%), Heartland Group (13.1%) and Trade Me (11.7%). Harmoney pulled out of the P2P market earlier this year.

  3. #4548
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    Quote Originally Posted by CageyB View Post
    5.2% of my outstanding principal is currently listed as "hardship". All things considered, that's acceptable at this stage. Arrears/charge-offs are basically unchanged since the lockdown began.
    Updated: Now 6.9% in hardship, 1.7% in arrears >30 days.

  4. #4549
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    Has anyone else had problems looking at the Borrower Details data on their loans? I get an error message every time. Am I overly suspicious about the recent loss of this information?

  5. #4550
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    Quote Originally Posted by BJ1 View Post
    Has anyone else had problems looking at the Borrower Details data on their loans? I get an error message every time. Am I overly suspicious about the recent loss of this information?
    Just signed in to try it out. I get an error message too whenever I click on Borrower Details.

  6. #4551
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    Updated:
    Protect Waiver 0.34%
    HardShip 7.65%
    Arrears 4.06%
    Current 87.96%

  7. #4552
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    Quote Originally Posted by Bjauck View Post
    Even before the Covid recession, Interest rates had been reduced for each grade, so even if the charge off rate stayed the same, with reduced income the charge-offs as a percentage of interest earned would increase.
    Guess just over 1 month later and I have recently seen the Arrears coming down to single $ digits......

    HM Collections Dept. must be doing a sterling job in the current financial environment.... for now!

  8. #4553
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    Quote Originally Posted by Saamee View Post
    Guess just over 1 month later and I have recently seen the Arrears coming down to single $ digits......

    HM Collections Dept. must be doing a sterling job in the current financial environment.... for now!
    ...more likely shifting them all to the Hardship basket.

  9. #4554
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    Quote Originally Posted by joker View Post
    ...more likely shifting them all to the Hardship basket.
    What I am saying is Arrears are LESS currently - that is positive...

    If it was Hardship there would be NO payments >> HIgher Arrears Outstanding!

    Not what I am seeing just now

  10. #4555
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    Quote Originally Posted by Saamee View Post
    What I am saying is Arrears are LESS currently - that is positive...

    If it was Hardship there would be NO payments >> HIgher Arrears Outstanding!

    Not what I am seeing just now
    Would they actually record arrears for a loan if a hardship "repayment holiday period" had been granted?

  11. #4556
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    At HM I honestly cannot say what happens....

    Over at LC, when a Defaulting Loan gets to 90 Days old, then it is Removed.....!

  12. #4557
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    Quote Originally Posted by Saamee View Post
    At HM I honestly cannot say what happens....

    Over at LC, when a Defaulting Loan gets to 90 Days old, then it is Removed.....!
    I guess if a loan has been granted a hardship repayment holiday, then payments will not be due until after the hardship holiday period ends. Only then if payments are not resumed by the new due dates would it be in default. So perhaps the covid hardship payment holidays have merely postponed the day of reckoning for some loans. Also, some borrowers who may have struggled regardless of the Covid measures, may have been able to latch onto Harmoney's covid hardship response to delay their day of reckoning?

  13. #4558
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    I'm folllowing and liking your Logic... BJ

  14. #4559
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    Quote Originally Posted by Saamee View Post
    What I am saying is Arrears are LESS currently - that is positive...

    If it was Hardship there would be NO payments >> HIgher Arrears Outstanding!

    Not what I am seeing just now
    Hardship and Repayment Holiday loans don't show up as arrears - they are not in arrears as no payments are due until they become active again.

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