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Thread: Harmoney

  1. #4441
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    ScreenHunt.jpg
    12 months and the wholesale (owners & institutions) RAR has increased by nearly 1% while the retail (us mugs) RAR has declined slightly. I suspect that the "better" loans are being cherry picked for the owners?

  2. #4442
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    Quote Originally Posted by leesal View Post
    Supposedly Harmoney has changed the grading system... So a B5 loan of yesterday is no longer the B5 loan of today.

    Does this resonate? I came across this dubious B5, and can't see too much evidence of a difference between the grading on 1.6 and 1.5. So am wondering if there was validity to this claim?

    Attachment 10856
    Wow, the repayment to income ratio is scary!!!
    Apart from that, I guess as a borrower he seems not too bad - homeowner of 13 years with stable job and history of repayments. If he's a B5 I agree nothing much has changed, I would have expected him/her to be a lower B in the new grading system.
    I just think he's just borrowing too much.

  3. #4443
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    Quote Originally Posted by Toukshare View Post
    Wow, the repayment to income ratio is scary!!!
    Apart from that, I guess as a borrower he seems not too bad - homeowner of 13 years with stable job and history of repayments. If he's a B5 I agree nothing much has changed, I would have expected him/her to be a lower B in the new grading system.
    I just think he's just borrowing too much.
    There's this too.

    annotation.png

    I just tend to take a small piece of everything. Just to get the benefit of the information... But within reason

  4. #4444
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    Quote Originally Posted by leesal View Post
    There's this too.

    annotation.png

    I just tend to take a small piece of everything. Just to get the benefit of the information... But within reason
    Basic benefit is $ 210 a week , living with parents unlikey to be accomodation supplement on top ..... I can't see how Harmony can put up a loan like this - surely it does not comply with the responsible lending code.......

  5. #4445
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    So today 2 firsts for me:
    - first time my RAR is above the platform's RAR
    - first arrearsHM dashboard snap 20191125.JPG
    I'm only just over 3 months in though (108 days) so still very meaningless at this stage.

  6. #4446
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    Hi,
    I have a quick question regarding repayment schedule.
    I have a loan taken on 19-AUG-2019 where the borrower does not seem to have made any repayments yet. Ever. To me this means that if it is, at worst, a monthly schedule, they should have made repayments on 19-SEP, 19-OCT and 19-NOV. But no. Nothing.
    And yet the loan is not marked as 'in arrears', or any other non-current status. It is still 'current'. Whereas HM seems to modify the loan status to 'in arrears' in others.
    I have attached the screenshot.
    HM loan LAI-00171188-20191126.JPG

    Are there any circumstances where that could be right? Maybe in case of 'unforeseen hardship', but then would HM inform us if they had granted this to a borrower?

    Thanks

  7. #4447
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    Quote Originally Posted by Toukshare View Post
    Hi,
    I have a quick question regarding repayment schedule.
    I have a loan taken on 19-AUG-2019 where the borrower does not seem to have made any repayments yet. Ever. To me this means that if it is, at worst, a monthly schedule, they should have made repayments on 19-SEP, 19-OCT and 19-NOV. But no. Nothing.
    And yet the loan is not marked as 'in arrears', or any other non-current status. It is still 'current'. Whereas HM seems to modify the loan status to 'in arrears' in others.
    I have attached the screenshot.
    HM loan LAI-00171188-20191126.JPG

    Are there any circumstances where that could be right? Maybe in case of 'unforeseen hardship', but then would HM inform us if they had granted this to a borrower?

    Thanks

    I rather think you are expecting Harmoney to behave like we would expect an organisation that cares about their customer to behave.....

    I think your answer is in your questions words.......

    Harmoney does not commuicate how we expect or would like.

    I suspect you loan is in arrears and you finding out about it from Harmoney is in a 'holding pattern'.

    Maybe best you call the Support Team on their 0800 #!

  8. #4448
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    OK thanks - I wasn't aware of the 'holding pattern' scenario.
    I'll definitely call HM regarding this.
    Thanks again.

  9. #4449
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    Dodgy data from Harmoney...
    The record shows that the loan was advanced on 02/05/19, paid off on 14/05/19 yet the full principal of $100 is still outstanding.
    There have been no repayments since the funds were released to the borrower 7 months ago yet the record indicates that Harmoney has received the full $100 (PAID-OFF DATE: May 14 2019).
    I wonder where my money is?

    ScreenHunt.jpg

  10. #4450
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    Is anyone having issues with Auto lend?
    I go after just about every c and d with a very loose filter and yet I have had nothing for a week now. 19 new loans in the last 24 hrs. Hard to believe none of them are c or d
    Auto lend is green and plenty of funds.

  11. #4451
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    Quote Originally Posted by vernon View Post
    Is anyone having issues with Auto lend?
    I go after just about every c and d with a very loose filter and yet I have had nothing for a week now. 19 new loans in the last 24 hrs. Hard to believe none of them are c or d
    Auto lend is green and plenty of funds.
    So your Autolend didn't see that one? LAI-00181484, a D3
    LAI-00181484.JPG
    it was live at about 12noon approx.

  12. #4452
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    Seems to be picking up a few, just not enough to dent the pile of cash sitting there!

  13. #4453
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    12 autolends in the last week . However I have a large cash idle balance trying to get invested

  14. #4454
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    Quote Originally Posted by Toukshare View Post
    So your Autolend didn't see that one? LAI-00181484, a D3
    LAI-00181484.JPG
    it was live at about 12noon approx.
    Yes Nothing picking up Friday now and still no auto loans on any C or D

    Time to ask Harmony I think

  15. #4455
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    Quote Originally Posted by vernon View Post
    Yes Nothing picking up Friday now and still no auto loans on any C or D

    Time to ask Harmony I think
    Read Harmoney's information about Autolend in the FAQ.

    Autolend operates on a queue. The determinant on that queue is the % of free cash in your portfolio. So if like me your % is 3% or less you will get nothing.

    If you want to ensure autolend triggers you'll need to deposit funds into your account. I'm not sure what the best "cutoff" would be, but imagine somewhere around the 10% mark may ensure you get your autolend quota on most C/D loans.

    Failing that, HM reset autolend following scoreboard 1.6. Have you reactivated it?

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