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Thread: Harmoney

  1. #3496
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    Quote Originally Posted by myles View Post
    You need to say this everyday as they clearly listen to you - they just dropped about 8 loans!!! $900 invested
    hmm damn - autolend did nothing, I didnt even see them and theres none now (or even 10 mins ago for that matter)

    but I see the 24 hour activity just updated from 3 to 10 - it was still on 3 even after all were gone
    Last edited by humvee; 06-07-2018 at 03:15 PM.

  2. #3497
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    Quote Originally Posted by myles View Post
    You need to say this everyday as they clearly listen to you - they just dropped about 8 loans!!! $900 invested
    Have been watching all day then away from the computer for half an hour and didn't see the new loans come up - by the time I logged in again they were are all gone! Damn! Getting money invested with HM is becoming too hard.

  3. #3498
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    Quote Originally Posted by myles View Post
    You need to say this everyday as they clearly listen to you - they just dropped about 8 loans!!! $900 invested
    I second that Vagabond. By God, you hammered them up like Thor...

  4. #3499
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    dammit, missed them all!

  5. #3500
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    I've compared every new loan I've seen over the past 4 weeks with my longstanding investment criteria and conclude that either the quality of applications has dived in that period or Harmoney has applied amended selection criteria resulting in the better risk loans in all gradings being offered to investors other than us. Whichever it is, if this continues, then I expect to see retail investor defaults escalating.

  6. #3501
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    Quote Originally Posted by BJ1 View Post
    I've compared every new loan I've seen over the past 4 weeks with my longstanding investment criteria and conclude that either the quality of applications has dived in that period or Harmoney has applied amended selection criteria resulting in the better risk loans in all gradings being offered to investors other than us. Whichever it is, if this continues, then I expect to see retail investor defaults escalating.
    Its slim pickings. Over the last few months theres been 60 loans a week. Unless that picks up, the 3000+ loan club will need to invest in every single loan to maintain numbers.

    Have also noticed that autolend seems to be kicking in at the 65% level since late last week, haven't seen an announcement though.

  7. #3502
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    Quote Originally Posted by BJ1 View Post
    ... Whichever it is, if this continues, then I expect to see retail investor defaults escalating.
    Who wants second best returns, BJ1? Certainly not the deeper-pocketed wholesalers, who not only seem to have gate crashed the little guy's P2P party big time, but for the benefit of whom, the retail offering seems to me, to be carefully stage managed now.

    A loan offered every few hours, which because of low rate or poorer quality, now remains visible on the market for hours - making it seem like the retail guys are satiated and want to suckle on it no more...

    Despite its various shortcomings, Harmoney - the first mover, was winning because only it had loan volume and choice - which its competitors didn't have. That is slowly but surely changing, while Harmoney seems to have done little to improve its book-keeping and investor relations.

    Now it is digging the grave of its P2P avatar. At some time, this rope walking on the P2P license terms will be called in question, but it seems this company covets publicity more than public relations. Watching this space

  8. #3503
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    Quote Originally Posted by beacon View Post
    Now it is digging the grave of its P2P avatar. At some time, this rope walking on the P2P license terms will be called in question, but it seems this company covets publicity more than public relations. Watching this space
    I agree. And I wonder at which point will ComCom bring into question HM's marketing claims of being a p2p lender to attract borrowers to its platform when for the last couple of months now 99% of its loans are filled by its wholesale customers.

  9. #3504
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    Quote Originally Posted by icyfire View Post
    last couple of months now 99% of its loans are filled by its wholesale customers.
    Care to show how you came up with this figure...

  10. #3505
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    Is 9.84% a new low for the platform? I'm still holding firm at just over 14.5% but I think we might need some investment-grade Viagra to keep it up.

  11. #3506
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    Arghh, is it just me or would anyone else look at these two loans and wonder why the hell you would lend money to these people?

    #1 Earns suppossedly $3k/week after tax, rents in New Plymouth (Max rent in NP for even a pretty flash pad can't be more than a grand right?) leaving $2k a week in free cash to cover expenses.. and needs to borrow $30k @ 24% interest to consolidate debt? How do you get that far in debt with that income.. only answers I can come up with is hookers and nose candy.

    #2.. well the loan is for vehicle purchase.. err, holiday and massage school training for the wife of a single man, and debt consolidation? I like how he/they are paying a mortgage and 0 months in the residence. There should be a report this application for pure BS button. Obviously no human bothers to actually read the application.

    Harmoney2.jpg

  12. #3507
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    I agree. The p2p aspect might be called into question soon by commerce commission if the status quo continues.
    Majority of loans go under a guise to wholesale and not p2p as implied by advertising.
    That could even threaten the licence they hold.

  13. #3508
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    Does anybody know if Harmoney read this forum?

  14. #3509
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    Quote Originally Posted by ream View Post
    Does anybody know if Harmoney read this forum?
    It would be good if they did.
    Theres important customer feedback within it

  15. #3510
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    They have done in the past,

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