Harmoney

[Saamee]

Nah. In May and June I've got quite a few loans that run from a few days up to 3 or so weeks .... so no I'm comparing apples with apples

My best mate applied to Harmoney for a loan of approx11K.

3/4's of the way throug the Sign Up the Internet hung up and the attaching the Financial Documents failed.

However he received an Email form Harmoney saying ALL was approved ( Remember that Financial verifications were Not completed )

Then just 2 hours later ( aftr the initial application ) he received a 2nd Email from Harmomey saying he had been approved to borrow more than he had originally requested...

Financial were never resolved. In the end he got Mortgage Top up Finance from ANZ.

I'm sure this is going on.....

[Bjauck]

Then just 2 hours later ( aftr the initial application ) he received a 2nd Email from Harmomey saying he had been approved to borrow more than he had originally requested...

Financial were never resolved. In the end he got Mortgage Top up Finance from ANZ.

I'm sure this is going on.....

That sounds very slack. As a matter of interest, what loan grade had he been approved for?

[777]

My best mate applied to Harmoney for a loan of approx11K.

3/4's of the way throug the Sign Up the Internet hung up and the attaching the Financial Documents failed.

However he received an Email form Harmoney saying ALL was approved ( Remember that Financial verifications were Not completed )

Then just 2 hours later ( aftr the initial application ) he received a 2nd Email from Harmomey saying he had been approved to borrow more than he had originally requested...

Financial were never resolved. In the end he got Mortgage Top up Finance from ANZ.

I'm sure this is going on.....

Why didn't you lend him the money ? Skip the middle man.

[Saamee]

That sounds very slack. As a matter of interest, what loan grade had he been approved for?

Initially a B5 ( Self Employed )

Then they upgraded him to a B3 when they offered him the full 35K ( Initally asked for 11K )

[Art]

My best mate applied to Harmoney for a loan of approx11K.

3/4's of the way throug the Sign Up the Internet hung up and the attaching the Financial Documents failed.

However he received an Email form Harmoney saying ALL was approved ( Remember that Financial verifications were Not completed )

Then just 2 hours later ( aftr the initial application ) he received a 2nd Email from Harmomey saying he had been approved to borrow more than he had originally requested...

Financial were never resolved. In the end he got Mortgage Top up Finance from ANZ.

I'm sure this is going on.....

Have you emailed Harmoney with all of the details so they can investigate/comment? If something is going wrong with their systems it would be beneficial to both Harmoney and us, the investors, to have it sorted.

[IntheRearWithTheGear]

Maybe the guy has other indicators, such as clean credit history and perhaps enters his earnings in other fields. The uploads are a proof but not perhaps the only indicator of honesty. I mean, i could forge something up real good using paint shop pro that says im a millionaire. If your self employeed you can say anything for income really (but then its historic) - so they would really be wasting time looking at these uploads. Its the things that cant be changed such as credit history held by credit agencies.

In regards to the extra money they offered - macdonalds always does that when you go throught the drive thru - they call it upsell - you know wanna larger coke with your order. I thought that was a good thing as they are in the business of selling "our" credit ?

[Monica@Harmoney]

Have you emailed Harmoney with all of the details so they can investigate/comment? If something is going wrong with their systems it would be beneficial to both Harmoney and us, the investors, to have it sorted.

Happy to look into this - as a responsible lender, we take this very seriously. Please email me on monica.mathis@harmoney.co.nz

[kiwi_on_OE]

Has anyone else noticed Harmoney not processing loans through from Funded to Issued in recent days? I've got multiple loans in multiple orders over multiple days that are no longer available to invest in (although one is at 97%), but are not issued.

[PennyPicker]

@kiwi_on_OE: Yes, I've observed the same behaviour over the last few days/maybe week.

[DrewBroadley]

Out of curiosity, now that Harmoney has been going for a while longer now, are others influenced by the "Purpose" that people put in?

I saw notes earlier on about how some did look at this as an indicator.