Harmoney

[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?

[humvee]

I presume from the attachment he was only $1.73 in arrears after 14 months therefore you would have only been short of the interest that you should have received on the $1.73. That would not have brought it up to anywhere near to $6.75? Whatever arrangement Harmoney has made with the borrower should not impact on what you should be earning. Unless there is something else that I am not aware of.

The issue is the arrears is ~$3+ less then it should be for the interest alone for that time period at that rate.

I am unsure of the arrangement has been reached with the borrower ie interest rate reduction, no interest, or interest freeze

but from the numbers I have it would appear it involved weaving or writing off ~$1284 of interest over the entire loan of which ~$3.02 would have been my .2358% share of interest.

I don't necessarily have any problem with the arrangement itself - if it recovers the money its better then writing it off


The problem here is not the $3, The issue is the answer I received after my 6th email should have been the answer I received after my 1st email about the loan - Infact I should not have needed to email I should have been able to see it on the dashboard.

Harmoney need to make improvements to the information on the dashboard as in cases like this it is hard to tell if it is incorrect - or as it turned out - critical information that we don't know about is missing - meaning maybe the dashboard is correct.

The Biggest improvement however would be to make ALL the dashboard information available via the CSV export

[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?

[Bjauck]

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

I think they should have a flat commission on interest. Why do they need to have separate tiers? Each loan is is divided into $25 notes anyway and the costs of administering each note of a certain grade should be the same. Where is the extra cost involved in dealing with a $5000 investor as compared to $25000 investor? I don't think it would be in the administration and collection of the $25 notes. Maybe they should consider having a platform fee for investors with a fixed % commission on the interest earned on notes.

The platform fee could be deducted from the gross interest payments as they come in, with the remaining surplus becoming net interest available for the investor.

[winner69]

Wonder what Heartland pay with them putting zillions through the platform?

[777]

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?

I wonder how many actually only invest in $25/loan. I had $40000 invested at one stage and my smallest investment was $175 and the highest $625. Most though were $250 to $500.

[Bjauck]

I wonder how many actually only invest in $25/loan. I had $40000 invested at one stage and my smallest investment was $175 and the highest $625. Most though were $250 to $500.

Did lack of diversification concern you?