sharetrader
Page 292 of 294 FirstFirst ... 192242282288289290291292293294 LastLast
Results 4,366 to 4,380 of 4397

Thread: Harmoney

  1. #4366
    Member
    Join Date
    Nov 2016
    Posts
    147

    Default

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

  2. #4367
    Member
    Join Date
    Nov 2016
    Posts
    147

    Default

    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
    Member
    Join Date
    Mar 2006
    Location
    It varies
    Posts
    165

    Default

    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
    Member
    Join Date
    Aug 2017
    Posts
    187

    Default

    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
    Member
    Join Date
    Nov 2016
    Posts
    147

    Default

    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 02:26 PM.

  6. #4371
    Senior Member
    Join Date
    Apr 2002
    Location
    , , New Zealand.
    Posts
    522

    Default

    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
    Advanced Member
    Join Date
    Aug 2012
    Posts
    1,803

    Default

    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
    Join Date
    Mar 2017
    Posts
    469

    Default

    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
    Member
    Join Date
    Nov 2016
    Posts
    147

    Default

    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
    Member
    Join Date
    Aug 2017
    Posts
    187

    Default

    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.

  11. #4376
    Member
    Join Date
    May 2016
    Posts
    220

    Default

    "we've been slowly operating a pivot and moving to lending our ownmoney which we started to do December last year and we're rapidly, you know, picking that sideof our business up because the regulations, particularly in New Zealand are such that we don'tsee a viable model for us doing peer-to-peer lending way into the future and we are sort ofmanaging that and have been for some time"

  12. #4377
    Member
    Join Date
    Jan 2005
    Location
    New Zealand
    Posts
    100

    Default

    Bit more information from today's Interest.co.nz article; https://www.interest.co.nz/personal-...ember-2014-has.

    If they complete the capital raise, could that money be used to buy out existing retail investor loans?

  13. #4378
    Member
    Join Date
    May 2016
    Posts
    220

    Default

    Quote Originally Posted by PennyPicker View Post
    Bit more information from today's Interest.co.nz article; https://www.interest.co.nz/personal-...ember-2014-has.

    If they complete the capital raise, could that money be used to buy out existing retail investor loans?
    An extra $30m of equity would surely be way too little.

  14. #4379
    Senior Member
    Join Date
    Sep 2015
    Location
    Norf Eyelynd
    Posts
    715

    Default

    More written at interest.co.nz this morning including comments from Squirrel & Lending Crowd....

    https://www.interest.co.nz/business/...eres-no-viable

  15. #4380
    Senior Member
    Join Date
    Apr 2002
    Location
    , , New Zealand.
    Posts
    522

    Default

    I think Harmoney got greedy, and strayed out of its permit scope too much by increasingly listening to and trying cater to the instos alone - in the end even at the cost of its "retail" peers. It isn't graceful to blame regulations for your own follies. And by playing the blame game, one misses the opportunity to learn from one's mistakes...

    P2P will survive in NZ, with or without Harmoney. Thanks to the efforts and vigilance of ComCom and FMA etc., P2P in NZ is in much better shape than in some of the other countries around the world.

    If Harmoney quits, other fintechs will pick up the slack and grow and evolve, and newer players will come - even in a small market like NZ, because the Aussie Banking cartel simply won't change its ways here. It is for Harmoney to decide whether it wants to play by the P2P rules or not, if it wants to play in the P2P space.

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •