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Thread: Harmoney

  1. #4426
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    Quote Originally Posted by Toukshare View Post
    wow:

    In the interest article:
    Harmoney describes itself as a digital platform lender. Although it was licensed by the Financial Markets Authority as a P2P lender in 2014, Roberts says he now can't see a viable P2P lending model in New Zealand which is why Harmoney has started lending its own money.

    So the founder of Harmoney cannot see a viable P2P lending future in NZ.
    That’s been the case for a while now
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  2. #4427
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    New scorecard (1.6) will be in force this Thursday (7th Nov)

  3. #4428
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    Reached $5k in interest today, so thought it was timely to share some stats. I've really slowed down this year, due to the reduced quantity of loans hitting the retail marketplace, and tightening up on my investment criteria.


    Total loans = 1,008
    Average amount invested per loan = $39.63
    Average age of loan in portfolio (current status) = 341 days
    Average weighted interest rate (current status) = 20.73%

    RAR (as at 26-10-2019) = 15.45%
    XIRR (as at 6-11-2019) = 9.20%*

    *adjusted by writing-off any loans that are 60+ days in arrears

    Loan Book:
    A = 32 loans
    B = 232 loans
    C = 333 loans
    D = 308 loans
    E = 89 loans
    F = 14 loans


    Account Position.jpg

    Account Summary.jpg

    RAR.jpg

  4. #4429
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    Nice going Alundra. I've hit the two year mark and approaching 15k on 80k active. Diversified across several P2P with around 200k in overall (a year ago had 70% in HM, now only 40%).

    Its going to be a tougher environment returnwise with 1.6. The loans from H2 2018 are now 70% repaid, so 6 months max of RARs at the higher level, and then reducing quick as scorecard 1.6 loans replace the rewrites in the portfolio..





    Static Loss Data
    H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 OVERALL
    Count 203 525 1,141 781 870 3,520
    Origin Amnt $ 6,809 $ 19,083 $ 45,546 $33,193 $ 41,642 146,272
    Months 22 16 10 4 - 1
    Interest Paid $ 1,285 $ 2,929 $ 6,183 $2,828 $ 994 14,219
    Principal Repaid $ 5,719 $ 15,728 $ 30,251 $ 11,811 $ 2,701 66,209
    Principal Remaining $ 905 $ 3,194 $ 14,800 $21,252 $ 38,941 79,093
    Principal 31+ Days in Arrears $ 27 $ 79 $ 636 $ 730 $ 480 1,951
    Default $ 185 $ 161 $ 495 $ 130 $ - 970
    Expect Default - Full Term $ 445 $ 981 $ 1,641 $1,471 $ 1,835 6,373
    HM Cohort Static Loss 3.80% 2.01% 0.96% 0.01% 0.00% 0.74%
    Portfolio Static Loss 2.71% 0.84% 1.09% 0.39% 0.00% 0.66%
    Expect Static Loss 6.53% 5.14% 3.60% 4.43% 4.41% 4.36%

  5. #4430
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    Quick question re Harmoney's behaviour as regards to institutions vs retail investors.

    This morning, I was monitoring the listings, refreshing often as I had some money to invest in loans. It was a good morning actually, and quickly some loans appeared. A D2, 2 D4s, a E5, a C1 and a F1. And then, but quite a while later, a B4. Now the B4 has a loan ID lower than the all the ones mentioned (LAI-00178855 for those who were monitoring too). Which to me means the application was completed earlier (am I right?).
    So my question is: do we as retail investors see those "safer loans" after institutions have had first dibs, whereas those institutions (or HM) are happy for us to see the riskier loans first?

    Because if that is not the case, then why are we seeing loans appear not in the order of their loan ID?

  6. #4431
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    There will be a delay between a customer registering interest in a loan, completing the application (when the ID will be assigned), and then deciding on whether or not to accept the T&C's, interest rate etc., before it hits the marketplace.

    Depending on the applicant, it may well be that the applications for the riskier loans were completed with a faster turnaround.

  7. #4432
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    Anyone else having trouble Loggin into Harmoney @ 13:24??

    Keep getting Logged out as though you had never Logged in!!

  8. #4433
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    Quote Originally Posted by Saamee View Post
    Anyone else having trouble Loggin into Harmoney @ 13:24??

    Keep getting Logged out as though you had never Logged in!!
    Still unable to access Harmoney Website via Mobile or Laptop!!

  9. #4434
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    Mine was OK earlier and just now (in browser). Notice that they have a message up about going offline tomorrow night for maintenance. Maybe it's necessary maintenance for a bug that's stopping some people logging in sometimes? It did happen to me recently as well but resolved itself within the day.

  10. #4435
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    Quote Originally Posted by ream View Post
    Mine was OK earlier and just now (in browser). Notice that they have a message up about going offline tomorrow night for maintenance. Maybe it's necessary maintenance for a bug that's stopping some people logging in sometimes? It did happen to me recently as well but resolved itself within the day.
    Just accessed Harmoney but via Microsoft Edge Browser - Chrome still No Go from Laptop or Mobile...

  11. #4436
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    It's fine this morning (via laptop Chrome too)
    They say there will be maintenance at 10:30pm tonight (Wednesday), so not accessible then.

    By the way, after 3 months in, I finally got a RAR (9.12%)
    I personally calculate my XIRR at 9.45%

    HM main1 20191113.JPG

    HM main2 20191113.JPG

    Account is very young (3 months) so no official charge off or write off yet although I see 2 of my loans haven't paid anything for 2 months - so I am sure they are candidate for a write-off. We'll see.

  12. #4437
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    i stopped investing in grade A loans, they seem to all pay below my average RAR - so even if they pay perfectly they still drag the average return down, and that's without the odd one that defaults.

  13. #4438
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    Thats because they are a lower interest rate .....

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