Harmoney

**beacon** · 13-11-2018, 10:39 AM

There are 26 registered banks in NZ, but ANZ, ASB, BNZ and Westpac between them account for 87% of bank assets. In March 2018 the banking system’s assets were worth $527 billion, equivalent to 186% of GDP.
https://www.interest.co.nz/banking/9...s-highlighting

So, if Harmoney don't drop the ball on loan quality, reporting and bookkeeping standards, customer communication and empowerment, they can go a very long way indeed.

**alundracloud** · 13-11-2018, 11:28 AM

Call me cynical, but does anyone seriously believe someone that earns $24k a month after tax needs to borrow $16k for a new car?

24k Income.jpg

**CR_111** · 13-11-2018, 11:30 AM

Originally Posted by alundracloud

Call me cynical, but does anyone seriously believe someone that earns $24k a month after tax needs to borrow $16k for a new car?

24k Income.jpg

I was just about to post this one. That is some serious money in Gisborne.

**CageyB** · 13-11-2018, 12:02 PM

I was also going to post that. Yikes.

**beacon** · 13-11-2018, 12:03 PM

Originally Posted by beacon

Harmoney must know a lot we don't, to entertain this. They could still prevent some avoidable angst and chatter on loan quality, if they added a filter for number of defaults (like others by number of years in residence or job).

If they do know a lot that we other investors don't, then they have a conflict of interest if they invest on their own platform with insider knowledge...

**joker** · 13-11-2018, 10:00 PM

Originally Posted by alundracloud

Call me cynical, but does anyone seriously believe someone that earns $24k a month after tax needs to borrow $16k for a new car?

24k Income.jpg

More like monthly income of $2,420.43 and a Harmoney keying error (banging the 4 twice) making it $24,420.43

**RMJH** · 14-11-2018, 08:25 AM

Originally Posted by joker

More like monthly income of $2,420.43 and a Harmoney keying error (banging the 4 twice) making it $24,420.43

Bit of a worry that the system didn't catch it later though. Makes me wonder what they actually do to check application details...

**BJ1** · 14-11-2018, 08:51 AM

I questioned a similar loan a fortnight ago and to their credit I got a response to say they do check the bank statements and in that case had gone back after my query and double checked that the data was correct. However, on the previous occasion I queried the data it turned out to be wrong and the loan was withdrawn, corrected and resubmitted.

**leesal** · 14-11-2018, 09:17 AM

Difficult to believe the data would be correct - as that would they're earning $450,000pa before tax. Excepting for lotto winners, not aware of anybody in gisborne earning that money - let alone a 20-29yo with an E4 rating.

Will also add, have been on HM 15 months today and finally crossed the 50k mark. Total P2p holdings just under 85k.

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