Harmoney

[777]

Art is correct. Wednesday thru Sunday repayments and interest show. I have had he odd one on a Monday but assume it is just a late Sunday one.

[Darchie]

I know I got 9 Early repayments/Rewrites on Saturday.

And over the weekend Early Repayments + Principal + Interest was greater then I could find new loans to invest in.

Based on a reply to an email I received - I believe they most likely had people in the office on Saturday at least

Many months ago i was told by Harmoney that a person comes in over weekend & manually attends to various payments ... releases those that've been held up ... general tidy up, so forth .. hence the activity on Sunday
Yes seems to be a big drop in loans being listed up over weekends ...
& total agree basically interest & principal seems to be paid out to us mainly Thursday to Saturday

[Darchie]

The harmoney staff I have been corresponding with are very adamant that the numbers shown on this loan are correct. That the interest rate has not been discounted and that the borrower is paying the 27.18% interest shown. No matter how add it up I cannot come up with anything even close to what is shown.

Before I send them a 7th email in the chain about it - can anyone explain what I am getting wrong or how the harmoney numbers shown are correct

I reckon they are wrong ... tell em to clean their glass'

I may be being quite basic with my calculation but. To me it's more like $4.76 arrears like:
9.3.15 to 9.3.16 is a year
25.00 x 27.18% = 6.795
Then 30 april & another 23days in this month
25.00 x 27.18% ÷ 365 x 53 days = .9866
6.795 plus .9866 = $7.78 - $3.02 interest already paid is $4.76 interest owing & $25.00 principal owing ...

[Darchie]

If your subject had paid off some principal then it would've made the calculation very different. ..

[Harvey Specter]

RAR updated and has increased.

Mine is also up but not much as the average so my RAR is now below average. I seem to have been overly hurt by write-offs so clearly not diversified enough.

Based on my experience, don't play this game unless you invest more than $10k. Put s you into the next fee group too. If you are below this, top up before the fee increase in July or withdraw. I may have been a bit hasty given in was only trialling and more to invest but I seem to have been on the unlucky side on average.

Has anyone got 6 figure s invested and In private negotiations for an even lower fee?

[RMJH]

RAR updated and has increased.

Mine is also up but not much as the average so my RAR is now below average. I seem to have been overly hurt by write-offs so clearly not diversified enough.

Based on my experience, don't play this game unless you invest more than $10k. Put s you into the next fee group too. If you are below this, top up before the fee increase in July or withdraw. I may have been a bit hasty given in was only trialling and more to invest but I seem to have been on the unlucky side on average.

Has anyone got 6 figure s invested and In private negotiations for an even lower fee?

Yes but I don't have a problem with the fees. When you look at other managed investments you can pay a lot more for a lot less legwork. I want this market to grow so I can invest more with less effort and get good information to refine use of filters and diversification. Competition will trim fees in due course if they prove to be excessive.

[Darchie]

Has anyone got 6 figure s invested and In private negotiations for an even lower fee?[/QUOTE]

The thought of the ability to move into another tier was an aspect i wondered about as well ... be interested to hear any feedback on this as well....

[JohnMac]

Has anyone got 6 figure s invested and In private negotiations for an even lower fee?

The thought of the ability to move into another tier was an aspect i wondered about as well ... be interested to hear any feedback on this as well....[/QUOTE]

I would have expected another two tiers >75000 10% and > 100000 5%.

I haven't tried to negotiate a better rate as I am no longer reinvesting. I have been investing in A's then B's and some C's and fortunately have had only 2 defaults. I have had a large number of rewrites which I suppose you can expect from the A crowd. This has kept my RAR average below the retail RAR.

With the new rates and investing in loans that only pay 9.99% and then getting pinged with 15% plus the chance the loan will default is to my mind not worth the effort.

Before anyone says the A loans are safe as houses I have one that was taken out in September and they only paid one installment but hasn't been marked as default yet so my faith in A loans is waning.

My other concern is that when looking at the other peer to peer sites new loans trickle in very slowly whereas with Harmoney there is no shortage. Is this because Harmoney is the lead player in this market or is it because they offer loans to anyone and everyone?

[IntheRearWithTheGear]

Hay, im no whizz and i enjoyed trying to find information about secant. If a person pays you back early is that not a good thing ? as the payments upto that date have an interest component calculated out to the end of loan. Once you get your money back you can lend it out again. As the interest is preloaded to the front of the loan.

[IntheRearWithTheGear]

looking at the https://www.harmoney.co.nz/assets/Pe...-loans-big.png

one could assume that there wouldnt be many over 100k in harmoney, unless they invested more than $25 per unit. The chart dosnt appear to be active loans but perhaps includes rewrites.

so 4000 loans maybe actually be like 3200 * $25 actives = $80000

so i pick maybe only 4 lenders over 100,000 perhaps acording to the graph?