Harmoney

[CR111]

You can have more than one account. The problem that I have found is that my second account(for my children) is charged at the higher rate of fees, as the balance is less than $10,000. Which is somewhat unfair considering the amount I have in my main account.

[Investor]

I'd rather avoid payment protect personally as the small gain you can receive from it would be better obtained from investing in a loan of a grade higher rather than risking the payment waivers. My opinion also stems from the fact I feel payment protect is geared towards benefiting Harmoney severely rather than the lender.

[kiwi_on_OE]

Another write-off today. :-(
But it was expected. Another write-off expected soon. :-(
Looking at my arrears, most seem to have had no repayments, or maybe one. Very few have had significant repayments.
I was expecting more loans to get into arrears as time went by, as per their Hazard Curve on https://www.harmoney.co.nz/investors/investment-risks
What sort of distribution of arrears relative to the length of the loan are others getting?

[whitt]

Another write-off today. :-(
But it was expected. Another write-off expected soon. :-(
Looking at my arrears, most seem to have had no repayments, or maybe one. Very few have had significant repayments.
I was expecting more loans to get into arrears as time went by, as per their Hazard Curve on https://www.harmoney.co.nz/investors/investment-risks
What sort of distribution of arrears relative to the length of the loan are others getting?

you have 8 loans from 625 in arrears. thats only a 1.28% arrear rate.. Not too bad I guess if your grades are a mixture, similar to harmoneys predictions also

Are your 8 loans actually writeoffs ?
I find I get many in arrears but have only had 1 in writeoff. Although i only have 150 loans at present

[whitt]

Autolend seems to be working fine and has enough criteria for me at present to cherry pick loans.

My only gripe is the loans they list in my arrears which show $0 as arrears. If it is zero then please dont list them in my arrears

[mjplost]

Autolend seems to be working fine and has enough criteria for me at present to cherry pick loans.

My only gripe is the loans they list in my arrears which show $0 as arrears. If it is zero then please dont list them in my arrears

Apparently loans with $0 value in the arrears have arrears that are <$1. I agree, it is annoying though.

My arrears are consistently wrong, I emailed them 2 weeks ago and it was correct for a week, now its way out again

[777]

Apparently loans with $0 value in the arrears have arrears that are <$1. I agree, it is annoying though.

My arrears are consistently wrong, I emailed them 2 weeks ago and it was correct for a week, now its way out again

I have one that 18c in arrears. So not consistent with your information.

[permutation]

you have 8 loans from 625 in arrears. thats only a 1.28% arrear rate.. Not too bad I guess if your grades are a mixture, similar to harmoneys predictions also

Are your 8 loans actually writeoffs ?
I find I get many in arrears but have only had 1 in writeoff. Although i only have 150 loans at present

Hi whitt, you were replying to my quote "permutation". Yes, until today I have had 8 write-offs(from 625 loans taken they are not arrears) 7/8 are in the E and F grades, have been investing for 20 months.

Today I have had 3 more defaults suddenly.

1 "D" grade the other 2 "F" grades. My default $rate is now 11% of my Gross interest received to date.

I tell you what, I am going to stay completely away from E and F grades from now on.

I was thinking that a lot of people are very young in these grades and I find it a bit of a shame somewhat that Harmoney allows the facility. A fair number of them go into default according to my stats and unfortunately some of these borrowers will get a black mark on their credit record for the future.

[winner69]

Politics getting involved

Emotional stuff - govt accused of putting 45 jobs at risk

http://www.interest.co.nz/business/8...-overrule-over

[DrewBroadley]

I could try and do the - along with redo with newer data - but I doubt I have time for a week or two as its not a very fast/automated process yet

I'd be happy to help you automate it if you want, as it's been so valuable to the community and then others can benchmark against your data.

Would be good to get an anonymous benchmarking started.