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Thread: Harmoney

  1. #4611
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    Quote Originally Posted by joker View Post
    It's quite sad that effectively good honest people (the majority) are paying very high interest rates to cover the debt write-offs of bad people (the minority). The issue is exacerbated by the manner in which Harmoney loans money based on algorithms which are open to deception and abuse while being reluctant/uninterested in chasing bad debts. No security lien adds to the problem which is what sets Lending Crowd high above Harm-Money.
    I think Harmoney originated from a good place but were up against a system which protected the status quo. The political will to support P2P and get better rates for borrowers and lenders never seemed strong unfortunately. Such a missed opportunity.

  2. #4612
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    Still continuing to receive Capital Repayments at a large rate currently.

    Plus no new Write Offs BUT a small trickle of Bad loan repayments coming in!

    That I find Encouraging and Positive....
    Last edited by Saamee; 11-10-2020 at 10:55 AM.

  3. #4613
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    Quote Originally Posted by Saamee View Post
    Still continuing to receive Capital Repayments at a large rate currently.

    Plus no new Write Offs BUT a small trickle of Bad loan repayments coming in!

    That I find Encouraging and Positive....
    Same here.

    My charged offs the last two months averaged less than $400 a month. The average for the 9 months before that was well above $2000. So, it does looks like HM had been clearing their books of bad loans earlier, was very bad in the 3 months Dec to Feb before they close to us, with February the worst month ever. Another bad month (2nd highest for me) was in July this year.

  4. #4614
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    Quote Originally Posted by Cool Bear View Post
    Same here.

    My charged offs the last two months averaged less than $400 a month. The average for the 9 months before that was well above $2000. So, it does looks like HM had been clearing their books of bad loans earlier, was very bad in the 3 months Dec to Feb before they close to us, with February the worst month ever. Another bad month (2nd highest for me) was in July this year.
    Cleaning up prior to an IPO?!

  5. #4615
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    Quote Originally Posted by RMJH View Post
    Cleaning up prior to an IPO?!
    Still continue to see Funds being Repaid at an extremely high rate....

    Borrowers must be being offered some amazing good deals to refinance at much lower interest rates?

  6. #4616
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    Quote Originally Posted by Saamee View Post
    Still continue to see Funds being Repaid at an extremely high rate....

    Borrowers must be being offered some amazing good deals to refinance at much lower interest rates?
    Did you just get a sudden drop in RAR of about 60 points? Not sure what that's all about!

  7. #4617
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    Quote Originally Posted by RMJH View Post
    Did you just get a sudden drop in RAR of about 60 points? Not sure what that's all about!
    Yes sure did.

    Around the same magnitude as you.

    One week down, next week back up again!

  8. #4618
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    Bit of a pants down for those that may care/follow.
    Protect Waiver 345.44 0.47% 12
    Hardship 1118.98 1.51% 26
    Current 69977.07 94.72% 1916
    Arrears 2437.15 3.30% 70
    Outstanding principal $73878.64 2024

  9. #4619
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    Quote Originally Posted by RMJH View Post
    Did you just get a sudden drop in RAR of about 60 points? Not sure what that's all about!
    And this Monday - A sadden 1% swing back up!!

  10. #4620
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    Quote Originally Posted by Saamee View Post
    And this Monday - A sadden 1% swing back up!!
    Yep, mine bounced too! Hardly fills you with confidence.

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