Harmoney

[Art]

Linuxluver ...

I have been with HM since the latter part of September last year .... i have 9 write offs so far
:
4 of those were in the fraud lot so i will exclude those for this example:

So 5 left to consider
NOW..... Of those 5 .... 2 had been rewrites ....... So i think your initial view on re writes may have to mature over time!

I ask you
When looking to invest ... How do you even know if a rewrite has been an early attempt to ease their dire position? ... or
They initially borrowed a low amount ... paid a few payments on time, then go back for a much higher rewrite with no intention of repaying ...

That's how I see it and why I don't generally invest in re-writes. To me re-writes are an indication that the borrower constantly needs to borrow more to fund future repayments. I sometimes make an exception if the original loan was very small or if the purpose was for house renovations which, lets face it, always blow out.

[WingingIt]

Sorry but how does 3 month really prove consistency and that they're going to be reliable long term???

From Harmoney website
"Are you going to continue actively marketing to Borrowers to rewrite their loans?

Harmoney plans on continuing to offer our most creditworthy borrowers the chance to top up their loan up to their approved limit after at least 3 months of full payment history. This is a standard practice in consumer lending, as it is rewards Borrowers for consistent repayment behaviour, ensures that Harmoney creates a long-term relationship with that customer, and encourages that customer not to look elsewhere for their borrowing needs.

[Saamee]

What's the uptake volume on the new loans been sine Monday's Fee change?

I honesty cannot be bothered to even go and look!

It's been very quiet on this Thread since Sunday

[Darchie]

25 loans sitting ..pretty much been not many fill for day..... very stagnant.

[Darchie]

I see I've got EIGHT arrears that've paid zero, missing their first payment ..... I certainly hope we're not into another fraud stint! Anyone else noticing an increase with these?
Gues what 3 of them are rewrites . Ya know "cream of the crop"

[Saamee]

Anyone Else Ever Considered that Just Maybe Harmoney Uses a Few "Fakes Loans"??

I have now invested in just over 200 individual loans with Harmoney.

Just this week 3 have been repaid just a little after 1 Month of being instigated.

I recall back when investing around that time that on a particular Saturday many many of the loans had almost the same borrower criteria ( like a copy and past action! ) same words, same amount, same term length, same eranings maybe just a different south island location!

Just wondering? Harmoney would most likely earn more through the service fee than paying out 1 months inetrest??

I wrote this post back on Sat 28th NOV 2015....

By any chance - was this the time that the FRAUDULENT Loan applications were applied for?

I personally was not hit by the FRAUDULENT loans - so am unaware when they were issued??

[IntheRearWithTheGear]

No, the fraudulent loans were over about time 2 months. From memory, starting around christmas ending around 2 feb. The point is they wernt in quick succession.

[humvee]

I wrote this post back on Sat 28th NOV 2015....

By any chance - was this the time that the FRAUDULENT Loan applications were applied for?

I personally was not hit by the FRAUDULENT loans - so am unaware when they were issued??

Here are the list of Fraudulent loans I was hit with. Note harmoney have only acknoledged that 9 of the 11 loans listed were fraudulent - I missed to other 2 off my list(or they hadnt yet been written off) when I asked about them


LAI-00055146 Feb 10, 2016
LAI-00054117 Feb 2, 2016
LAI-00054100 Feb 1, 2016
LAI-00053612 Jan 27, 2016
LAI-00053360 Jan 19, 2016
LAI-00053274 Jan 15, 2016
LAI-00052943 Jan 12, 2016
LAI-00052647 Jan 4, 2016
LAI-00052256 Dec 23, 2015
LAI-00051494 Dec 14, 2015




and also Maybe


LAI-00055174 Feb 10, 2016

[humvee]

25 loans sitting ..pretty much been not many fill for day..... very stagnant.

Im very pleased to see this to be honest - and hopefully it will stay this way - wake up call for harmoney hopefully - the raised fees are too high.

although they might be able to bandaid this problem by using the corporate investors

I got slammed with 19 early repayments between 4pm Friday and Sunday morning. and more since by the looks of it. And there were almost no loans at all in the market place over the weekend. So now i need to decide what to do with this. But for the forseeable future i wont be depositing more money into harmoney.

[Saamee]

Im very pleased to see this to be honest - and hopefully it will stay this way - wake up call for harmoney hopefully - the raised fees are too high.

I got slammed with 19 early repayments between 4pm Friday and Sunday morning. and more since by the looks of it. And there were almost no loans at all in the market place over the weekend. So now i need to decide what to do with this. But for the forseeable future i wont be depositing more money into harmoney.

Humvee..... Personally, how do you ascertain that a loan has been early repaud \ paid off?

I'm lost! Do Harmoneys own reports tell you this? Regards.