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Thread: Harmoney

  1. #4211
    Senior Member
    Join Date
    Apr 2002
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    , , New Zealand.
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    726

    Default Fma removes 5-year licence limit

    The Financial Markets Authority is removing the expiry dates for all licences issued under the Financial Markets Conduct Act in a process it expects to be complete by mid-2019. Open-ended terms will apply to all new and existing licences, unless an expiry date is specified on a case by case basis. Current licence holders won't have to apply to be relicensed before the expiry date of their licence. The FMA initially imposed a 5-year term on all licences but has revisited this approach following the development of its risk monitoring framework. A notice of variation has been sent to all licence holders, with the FMA saying it doesn't believe the costs associated with re-licensing would be matched by the benefits gained.

  2. #4212
    yeah, nah
    Join Date
    Mar 2017
    Posts
    491

    Default

    Quote Originally Posted by RMJH View Post
    But with 10% cash being the minimum to get any loans you may as well accept slightly higher fees and have all your money invested. It may also help maintain diversification and grow a portfolio.
    I only manually invest and have now (last week or so) started to move forward i.e. reducing available cash - taking $200 - $250 per loan (no doubt taking $'s from others...). Personally I would stop investing in Harmoney if average interest rates dropped by around 2 or more percent - there are other lower interest but much lower risk options that I would prefer at that rate/risk level - the time factor required for Harmoney investing is also a major detractor - but that's just me.

  3. #4213
    Member
    Join Date
    May 2014
    Posts
    204

    Default

    Its weird when you look at your RAR and it says ~12% something, but then when you update your monthly portfolio spreadsheet your Harmoney account has a net increase of $100 on a balance of ~$50k, which annualized is a about 2.4%

  4. #4214
    Guru
    Join Date
    Aug 2012
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    4,656

    Default

    Quote Originally Posted by alistar_mid View Post
    Its weird when you look at your RAR and it says ~12% something, but then when you update your monthly portfolio spreadsheet your Harmoney account has a net increase of $100 on a balance of ~$50k, which annualized is a about 2.4%
    When you take into account your balance earning no interest and capital charge-offs which are not tax deductible (retail investor DYOR), your actual post tax return on the amount you have on the platform is somewhat reduced.

  5. #4215
    Member
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    Mar 2017
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    44

    Default

    Quote Originally Posted by Wsp View Post
    No jump for me. My recoveries are currently sitting at 1.25% of charged off principal.

    How is everyone else looking?
    I'm at 4.9% recoveries/charged off.

  6. #4216
    Member
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    Sep 2012
    Location
    christchurch
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    386

    Default

    Quote Originally Posted by CageyB View Post
    I'm at 4.9% recoveries/charged off.
    Mine is at about 2.7%. It will all depend on the grade of loans we take. I think a written off A loan would have better chance of recovery than an F loan.

    Having said that I do not think HM is that active in recovery and a big portion of my "recoveries" is probably from them selling off the bad loans.

  7. #4217
    Junior Member
    Join Date
    Mar 2018
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    2

    Default

    Screen Shot 2019-03-15 at 3.15.32 PM.pngIve been watching it wind down all day today but now "0 loans in 24 hours"

  8. #4218
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    Dec 2017
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    168

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    Quote Originally Posted by SteveG View Post
    Screen Shot 2019-03-15 at 3.15.32 PM.pngIve been watching it wind down all day today but now "0 loans in 24 hours"
    Loan application qualtiy must have improved.. not a single ****ty loan to load off to retail investors.

  9. #4219
    Member
    Join Date
    Jan 2018
    Posts
    48

    Default

    Hopefully this morning is representative of the retail marketplace going forward..

    Attachment 10399

  10. #4220
    yeah, nah
    Join Date
    Mar 2017
    Posts
    491

    Default

    buy.png
    No words...

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