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20-10-2019, 05:18 PM
#4401
Member
yep, RAR and filters stable but cash is growing again!
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21-10-2019, 10:57 AM
#4402
Originally Posted by BJ1
From the significantly reduced commentary on this forum in recent months I guess that many other lenders are feeling the same frustration I am ...
Indeed, I am too. RAR falling, have had to extract more than half my (peak) funds now, since there has been little opportunity to deploy them on this platform in recent months. Checking it is becoming a waste of time.
Thank you Harmoney and Institutionals for usurping my share...
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22-10-2019, 08:15 AM
#4403
Member
Originally Posted by BJ1
From the significantly reduced commentary on this forum in recent months I guess that many other lenders are feeling the same frustration I am - or perhaps, as usually happens when market returns fall, people are taking on increased risk.
Having only recently joined Harmoney, I am at a different stage in the cycle than many of the established commenters here. I am so recent I don't even had a RAR yet!
Before investing, I read your whole thread, as I found it to be the most informative and impartial piece of information on HM anywhere on the web. It seems to me also that you guys thought the best days of HM were a few years ago. That's no good to me but I'll still plough on regardless. Currently reinvesting any interest and principal paid back, checking daily, one $25 note at a time...
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23-10-2019, 09:26 AM
#4404
Junior Member
Anybody else having login issues this morning? My email & password (saved in LastPass) apparently don't match, and the forgot password page is down.
Edit: Seems it was a very temporary thing, or I hit the end of it. App & website now both working.
Last edited by ream; 23-10-2019 at 09:28 AM.
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23-10-2019, 10:24 AM
#4405
Member
Harmoney is proposing a new scorecard (v1.6), got an email yesterday about it. Rates charged to borrowers are much reduced in grades C, D and E, a bit reduced in Bs and Fs, and unchanged in As.
The amount they can borrow will also change: Fs will be able to borrow up to $15k, Es up to $25k, Ds up to $35k, Cs up to $45k, Bs up to $55k and As unchanged at $70k.
grade old rate new rate variance old limit new limit
-----------------------------------------------------------------
A1 6.99% 6.99% NIL $70,000 $70,000
A2 7.99% 7.99% NIL $70,000 $70,000
A3 9.20% 9.20% NIL $70,000 $70,000
A4 10.50% 10.50% NIL $70,000 $70,000
A5 11.99% 11.99% NIL $70,000 $70,000
B1 13.39% 12.39% -1.00% $55,000 $50,000
B2 14.75% 12.59% -2.16% $55,000 $50,000
B3 15.80% 12.80% -3.00% $55,000 $50,000
B4 16.99% 13.99% -3.00% $55,000 $50,000
B5 17.80% 14.80% -3.00% $55,000 $50,000
C1 18.90% 15.90% -3.00% $45,000 $40,000
C2 20.40% 17.40% -3.00% $45,000 $40,000
C3 21.90% 17.59% -3.00% $45,000 $40,000
C4 22.99% 17.99% -5.00% $45,000 $40,000
C5 23.99% 18.49% -5.50% $45,000 $40,000
D1 24.70% 18.99% -5.71% $35,000 $30,000
D2 25.20% 19.49% -5.71% $35,000 $30,000
D3 25.49% 19.99% -5.51% $35,000 $30,000
D4 25.99% 20.99% -5.00% $35,000 $30,000
D5 26.49% 21.49% -5.00% $35,000 $30,000
E1 26.99% 21.99% -5.00% $25,000 $20,000
E2 27.49% 22.49% -5.00% $25,000 $20,000
E3 27.99% 23.99% -4.00% $25,000 $20,000
E4 28.29% 24.29% -4.00% $25,000 $20,000
E5 28.69% 24.69% -4.00% $25,000 $20,000
F1 28.99% 26.99% -2.00% $15,000 $10,000
F2 29.19% 27.99% -1.20% $15,000 $10,000
F3 29.49% 28.99% -0.50% $10,000 $15,000
F4 29.69% 29.69% NIL $10,000 $15,000
F5 29.99% 29.99% NIL $10,000 $15,000
New scorecard and details here. HM also says that a new C3 will not be an old C3, hence why the rates were adjusted.
I find the rate drop in Cs and Ds quite drastic - it will be hard to go and chase the 20%+. I guess it depends on an individual investor's strategy. Personally, I was quite content to stay B5 to D3, but to achieve reasonable returns of, say, 17-18%, I will either have to go "deeper" to the mid Es, or to forgo As and Bs and reduce diversification and solely focus on C1 to D5 or thereabouts.
Food for thought...
Last edited by Toukshare; 23-10-2019 at 10:25 AM.
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23-10-2019, 10:35 AM
#4406
Member
Harmoney is proposing a new scorecard (v1.6), got an email yesterday about it. Rates charged to borrowers are much reduced in grades C, D and E, a bit reduced in Bs and Fs, and unchanged in As.
The amount they can borrow will also change: Fs will be able to borrow up to $15k, Es up to $25k, Ds up to $35k, Cs up to $45k, Bs up to $55k and As unchanged at $70k.
grade old rate new rate variance old limit new limit
-----------------------------------------------------------------
A1 ... 6.99% .. 6.99% . NIL .... $70,000 . $70,000
A2 ... 7.99% .. 7.99% . NIL.... $70,000 . $70,000
A3 ... 9.20% .. 9.20% . NIL .... $70,000 . $70,000
A4 ...10.50% ..10.50% . NIL .... $70,000 . $70,000
A5 ...11.99% ..11.99% . NIL .... $70,000 . $70,000
B1 ...13.39% ..12.39% .-1.00% .. $55,000 . $50,000
B2 ...14.75% ..12.59% .-2.16% .. $55,000 . $50,000
B3 ...15.80% ..12.80% .-3.00% .. $55,000 . $50,000
B4 ...16.99% ..13.99% .-3.00% .. $55,000 . $50,000
B5 ...17.80% ..14.80% .-3.00% .. $55,000 . $50,000
C1 ...18.90% ..15.90% .-3.00% .. $45,000 . $40,000
C2 ...20.40% ..17.40% .-3.00% .. $45,000 . $40,000
C3 ...21.90% ..17.59% .-3.00% .. $45,000 . $40,000
C4 ...22.99% ..17.99% .-5.00% .. $45,000 . $40,000
C5 ...23.99% ..18.49% .-5.50% .. $45,000 . $40,000
D1 ...24.70% ..18.99% .-5.71% .. $35,000 . $30,000
D2 ...25.20% ..19.49% .-5.71% .. $35,000 . $30,000
D3 ...25.49% ..19.99% .-5.51% .. $35,000 . $30,000
D4 ...25.99% ..20.99% .-5.00% .. $35,000 . $30,000
D5 ...26.49% ..21.49% .-5.00% .. $35,000 . $30,000
E1 ...26.99% ..21.99% .-5.00% .. $25,000 . $20,000
E2 ...27.49% ..22.49% .-5.00% .. $25,000 . $20,000
E3 ...27.99% ..23.99% .-4.00% .. $25,000 . $20,000
E4 ...28.29% ..24.29% .-4.00% .. $25,000 . $20,000
E5 ...28.69% ..24.69% .-4.00% .. $25,000 . $20,000
F1 ...28.99% ..26.99% .-2.00% .. $15,000 . $10,000
F2 ...29.19% ..27.99% .-1.20% .. $15,000 . $10,000
F3 ...29.49% ..28.99% .-0.50% .. $15,000 . $10,000
F4 ...29.69% ..29.69% . NIL .... $15,000 . $10,000
F5 ...29.99% ..29.99% . NIL .... $15,000 . $10,000
New scorecard and details here. HM also says that a new C3 will not be an old C3, hence why the rates were adjusted.
I find the rate drop in Cs and Ds quite drastic - it will be hard to go and chase the 20%+. I guess it depends on an individual investor's strategy. Personally, I was quite content to stay B5 to D3, but to achieve reasonable returns of, say, 17-18%, I will either have to go "deeper" to the mid Es, or to forgo As and Bs and reduce diversification and solely focus on C1 to D5 or thereabouts.
Food for thought...
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23-10-2019, 01:16 PM
#4407
Junior Member
Originally Posted by Toukshare
But I do invest some money on my children's behalf and as a responsible parent, want them to have a diverse portfolio. P2P Lending is part of that, as well as Kiwisaver, term deposits and property. They are not at an age where they can manage their investments, so I do it for them. But I believe they are entitled to their fair tax rate, even if the actual management is done by me.
While I have not enquired for a while, I have not found any NZ P2P providers that accept children. Like you I wanted to invest on behalf. Does anyone have any ideas about WHY the P2P lenders wouldn't accept children? Is there a legal reason? Or is it just a hassle to set up and associate the responsible parent etc? Quite a few managed funds have accepted his money and tax bracket.
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23-10-2019, 02:42 PM
#4408
Member
Originally Posted by Toukshare
Harmoney is proposing a new scorecard (v1.6), got an email yesterday about it. Rates charged to borrowers are much reduced in grades C, D and E, a bit reduced in Bs and Fs, and unchanged in As.
The amount they can borrow will also change: Fs will be able to borrow up to $15k, Es up to $25k, Ds up to $35k, Cs up to $45k, Bs up to $55k and As unchanged at $70k.
grade old rate new rate variance old limit new limit
-----------------------------------------------------------------
A1 6.99% 6.99% NIL $70,000 $70,000
A2 7.99% 7.99% NIL $70,000 $70,000
A3 9.20% 9.20% NIL $70,000 $70,000
A4 10.50% 10.50% NIL $70,000 $70,000
A5 11.99% 11.99% NIL $70,000 $70,000
B1 13.39% 12.39% -1.00% $55,000 $50,000
B2 14.75% 12.59% -2.16% $55,000 $50,000
B3 15.80% 12.80% -3.00% $55,000 $50,000
B4 16.99% 13.99% -3.00% $55,000 $50,000
B5 17.80% 14.80% -3.00% $55,000 $50,000
C1 18.90% 15.90% -3.00% $45,000 $40,000
C2 20.40% 17.40% -3.00% $45,000 $40,000
C3 21.90% 17.59% -3.00% $45,000 $40,000
C4 22.99% 17.99% -5.00% $45,000 $40,000
C5 23.99% 18.49% -5.50% $45,000 $40,000
D1 24.70% 18.99% -5.71% $35,000 $30,000
D2 25.20% 19.49% -5.71% $35,000 $30,000
D3 25.49% 19.99% -5.51% $35,000 $30,000
D4 25.99% 20.99% -5.00% $35,000 $30,000
D5 26.49% 21.49% -5.00% $35,000 $30,000
E1 26.99% 21.99% -5.00% $25,000 $20,000
E2 27.49% 22.49% -5.00% $25,000 $20,000
E3 27.99% 23.99% -4.00% $25,000 $20,000
E4 28.29% 24.29% -4.00% $25,000 $20,000
E5 28.69% 24.69% -4.00% $25,000 $20,000
F1 28.99% 26.99% -2.00% $15,000 $10,000
F2 29.19% 27.99% -1.20% $15,000 $10,000
F3 29.49% 28.99% -0.50% $10,000 $15,000
F4 29.69% 29.69% NIL $10,000 $15,000
F5 29.99% 29.99% NIL $10,000 $15,000
New scorecard and details here. HM also says that a new C3 will not be an old C3, hence why the rates were adjusted.
I find the rate drop in Cs and Ds quite drastic - it will be hard to go and chase the 20%+. I guess it depends on an individual investor's strategy. Personally, I was quite content to stay B5 to D3, but to achieve reasonable returns of, say, 17-18%, I will either have to go "deeper" to the mid Es, or to forgo As and Bs and reduce diversification and solely focus on C1 to D5 or thereabouts.
Food for thought...
Thanks for the analysis. You would need to line up interest rate against probability of default to get comparable interest rate changes but on the face ot it looks like a massive rate cut that will send RAR's crashing through 10%.
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23-10-2019, 03:05 PM
#4409
Member
Ah, I think you are not comparing to 1.5! The rate reductions are much less... but shows how much times have changed since launch
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23-10-2019, 03:16 PM
#4410
Member
Originally Posted by RMJH
Thanks for the analysis. You would need to line up interest rate against probability of default to get comparable interest rate changes but on the face ot it looks like a massive rate cut that will send RAR's crashing through 10%.
Yuck
On the plus side for Harmoney they'll pick up plenty of extra rewrite commissions
Last edited by leesal; 23-10-2019 at 03:27 PM.
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