Harmoney

[leesal]

I'm not sure that it is... The graph below suggests something quite different:

Attachment 9746
Source: https://www.stats.govt.nz/informatio...tions-may-2018

It has been shown that P2P lending follows credit card spending etc... So perhaps it is just a significant lull in loans. No doubt Harmoney have obligations to their wholesale 'partners', so the low availability of loans for retail investors may just be due to a lack of 'excess' loans. [All speculation...]

Intriguing. Although don't trust one offs counter trend, could be anything from data collection, to a one off skewing the comparative month on the other end. Also completely rubbish weather in April. Lets see what June brings. Next month there are changes to Working for Families - likely to stimulate further credit growth.

I use the Household Balance sheet, Consumer Loans. https://www.rbnz.govt.nz/statistics/c22. Which released data shows continued steady credit growth from early 2014 through to current. Mar18 (16.4b) being 7% above Mar17 (15.3b).

Another good proxy is new motor vehicle sales https://www.mia.org.nz/Sales-Data/Vehicle-Sales. Which is still cracking on superbly. I just do not believe their is anything fundamentally different in credit, all seems to be typical mid/late cycle behaviour.

[humvee]

That said new vehicle sale loans are most likely not done as unsecured lending so may not be as relevent to loan volumes on harmony.

I'm normally only watching C-E grades but I don't think I've ever seen a "new vehicle" loan that I actually believed was new vehicle loan. ( Too few $ usually or comments gave it away) they were 2nd hand vehicles that were "new to them"

[johna]

and suddenly there are three loans available - maybe the tide has turned and H has listened to the complaints!

[Investor]

and suddenly there are three loans available - maybe the tide has turned and H has listened to the complaints!

Or perhaps some loans have appeared on the market for other reasons.

[humvee]

and suddenly there are three loans available - maybe the tide has turned and H has listened to the complaints!

And just out of interest - here is my thought process on the 2 loans on the market now ........

Attachment 9750

[alundracloud]

The most frustrating thing for me is the lack of communication from Harmoney. They treat their Retail Investors with disdain, basically taking the attitude of "we know you don't like it, but we don't care"

[RMJH]

And just out of interest - here is my thought process on the 2 loans on the market now ........

Attachment 9750

Not to mention 4 enquiries!

[humvee]

Not to mention 4 enquiries!

In this case with the other information known 4 enquiries would be normal - for the renter - I don't score any negative points for it - however The excuse/explanation I assume is they have moved in last 6 months which I do score negatively

Likely Enquiries for this person in last 6 months

Harmoney - Last time (I would hope)
Electricity
Telephone/ Internet
Landlord ?
Pay TV?


4 enquiries for the boarder could be more of an issue since the phone and power is probably not in their name, and they probably did not have a credit check when they moved in - which was 4 years ago anyway. So their 4 enquiries are harder to explain with "good" not "negitive" reasons

[icyfire]

HM's p2p lending license will expire in one year's time. It will be interesting to see if they will renew it.

[Vagabond47]

The other side of the enquiries number.. lots of enquiries might just mean they have been shopping around looking for the best deal.. A much better borrower than the guy that just takes whatever the first finance company offers.

Also, last time I moved, the rental agent didn't do any checking. Did not call any of our references and didn't check credit records, basically told me we'd get the house on the spot as I handed over the application.