sharetrader
Page 229 of 230 FirstFirst ... 129179219225226227228229230 LastLast
Results 4,561 to 4,580 of 4582

Thread: Harmoney

  1. #4561
    Advanced Member
    Join Date
    Aug 2012
    Posts
    2,438

    Default

    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?

  2. #4562
    Senior Member
    Join Date
    Sep 2015
    Location
    Norf Eyelynd
    Posts
    752

    Default

    At HM I honestly cannot say what happens....

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

  3. #4563
    Advanced Member
    Join Date
    Aug 2012
    Posts
    2,438

    Default

    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?

  4. #4564
    Senior Member
    Join Date
    Sep 2015
    Location
    Norf Eyelynd
    Posts
    752

    Default

    I'm folllowing and liking your Logic... BJ

  5. #4565
    Member
    Join Date
    Jul 2017
    Posts
    116

    Default

    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.

  6. #4566
    Member
    Join Date
    Apr 2016
    Posts
    73

    Default

    Current 87.51%
    Arrears 3.71%
    Hardship 8.44%
    Protect Waiver 0.34%

  7. #4567
    Member
    Join Date
    Jul 2017
    Posts
    116

    Default

    Current 85.3%
    Arrears 3.9%
    Hardship 10.8%
    Last edited by joker; 31-05-2020 at 08:15 PM.

  8. #4568
    Member
    Join Date
    Sep 2012
    Location
    christchurch
    Posts
    390

    Default

    Current 85.2%
    Arrears 7.4%
    Hardship 7.0%
    P Protect 0.4%

  9. #4569
    Member
    Join Date
    Mar 2017
    Posts
    44

    Default

    Hardship 6.9%
    Arrears 2.5% (1.7% >30 days)

    I suspect that some loans that would normally be in arrears have ended up in hardship, but given the meagre returns from the Harmoney collections process I'm fine with that in the hope that some of them return to current status.

  10. #4570
    Advanced Member
    Join Date
    Jul 2000
    Location
    Masterton, , NZ.
    Posts
    1,557

    Default

    I'm finding that the ratings meant very little a lot of my defaults are the better graded loans!

  11. #4571
    Advanced Member
    Join Date
    May 2015
    Posts
    2,367

    Default

    Quote Originally Posted by tim23 View Post
    I'm finding that the ratings meant very little a lot of my defaults are the better graded loans!
    Same with me - my highest rated loan (A3) is the only one in arrears (everything else is fine for me as of writing)

  12. #4572
    yeah, nah
    Join Date
    Mar 2017
    Posts
    483

    Default

    The effects of Job losses, business failures etc. from COVID-19 are not likely dependant on loan rate (i.e. likely ability to repay) - so it's quite possible that effects will be felt across the full rate range? e.g. if a well established small business that relied on an expected 'guaranteed' tourism based turnover, or someone who worked for same, received an A rated loan 6 months ago, I doubt too many would have raised an eyebrow?

    At this point I'm not seeing the loses that I thought might be seen - still running a 15.06% RAR, but that may be due to my loan selection. My net-charge offs are not excessive at this stage.

    How are others RAR and charge offs going?

  13. #4573
    Member
    Join Date
    Sep 2019
    Posts
    38

    Default

    Quote Originally Posted by myles View Post
    At this point I'm not seeing the loses that I thought might be seen - still running a 15.06% RAR, but that may be due to my loan selection. My net-charge offs are not excessive at this stage.

    How are others RAR and charge offs going?
    RAR 10.75% (hasn't moved much in the last 6 months)
    (my own XIRR is 11.56%)
    244 loans
    Hardship 18 (A 1, B 1, C 3, D 6, E 7, F 0), whereas my portfolio is exactly centrered on Cs, then Bs and Ds, then As and Es with very few Fs. So I notice hardships are more heavily weighed towards the riskier loans in my case.
    Just one charge off since end of March. (I only have ever had 3 charge offs incidentally: 1 B, 1 C and 1 E.)

    So in my case, it's the hardships: I had one before COVID-19 hit, and 17 more in the past 3 months. I don't expect much from them, not too sure about Harmoney's willingness to truly help and see them through. I suspect they'll slowly morph into charge-offs.
    Last edited by Toukshare; 26-06-2020 at 03:43 PM.

  14. #4574
    yeah, nah
    Join Date
    Mar 2017
    Posts
    483

    Default

    This is what my breakdown looks like:

    Grade Active Loans Hardship Loans
    B 14% 12%
    C 33% 29%
    D 34% 42%
    E 17% 17%

    Pretty much across the board for me - heaviest in the D grades only a little less in the lower grades.

    52 in hardship out of 723 so 7% in hardship.
    Last edited by myles; 26-06-2020 at 06:13 PM.

  15. #4575
    Member
    Join Date
    Apr 2016
    Posts
    73

    Default

    Arrears 3570.3 3.36% 104
    Current 93106.71 87.59% 2329
    Hardship 9320.15 8.77% 193
    Protect Waiver 305.16 0.29% 8
    Total Outstanding 106302.32 2634 40.3577524677297

    By dollar value. Out interest - seems to be a move toward hardship from arrears as predict by forum. Seems to be more movement in current(people paying back/refinancing ) than towards other categories, no real change to the late categories - i dont follow stats before covid (bc). July/august will be interesting as things begin to bite economy wise.

    Whats everybody else doing with their money ? are we all of to squirrel ? shares - or just sitting on it ?
    Last edited by IntheRearWithTheGear; 28-06-2020 at 02:14 PM.

  16. #4576
    Advanced Member
    Join Date
    Aug 2012
    Posts
    2,438

    Default

    Quote Originally Posted by Toukshare View Post
    RAR 10.75% (hasn't moved much in the last 6 months)...

    So in my case, it's the hardships: I had one before COVID-19 hit, and 17 more in the past 3 months. I don't expect much from them, not too sure about Harmoney's willingness to truly help and see them through. I suspect they'll slowly morph into charge-offs.
    When the hardship repayment holidays end, that could be when we see a big dip in RAR as capital charge-offs climb. So that could be in a few months time if 6 month Covid repayment holidays were granted.

  17. #4577
    Member
    Join Date
    Sep 2019
    Posts
    38

    Default

    Quote Originally Posted by IntheRearWithTheGear View Post
    Whats everybody else doing with their money ? are we all of to squirrel ? shares - or just sitting on it ?
    Personally, transferring to LC as it trickles from HM. LC seems to have had a healthy amount of loans coming through.

  18. #4578
    Member
    Join Date
    Jul 2017
    Posts
    116

    Default

    Quote Originally Posted by Toukshare View Post
    Personally, transferring to LC as it trickles from HM. LC seems to have had a healthy amount of loans coming through.
    LC is too hard to get invested in. I have better things to do than sit around all day waiting for loans to land then having 2 minutes or less within which to invest. I've stopped investing in LC dropping from $120k to $90k over the last 6 months.

  19. #4579
    Member
    Join Date
    Nov 2016
    Posts
    157

    Default

    If you are over 65 think about your kiwisaver potential.

  20. #4580
    Member
    Join Date
    Sep 2019
    Posts
    38

    Default

    Quote Originally Posted by joker View Post
    LC is too hard to get invested in. I have better things to do than sit around all day waiting for loans to land then having 2 minutes or less within which to invest. I've stopped investing in LC dropping from $120k to $90k over the last 6 months.
    I don't disagree but there aren't *many* other options

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
  •