Harmoney

[777]

I have come to expect anomalies in the Harmoney platform and it is annoying and time consuming to sort out, so I don't usually bother. The arrears data is never correct and just a few days ago I ordered 2 notes in a loan only to get an error message and then after 3 more attempts I gave up only to discover later that all transactions went through. I had given up on 6/8 note investing but I just could not go through the hassle to see if that could be fixed. With the huge staff numbers they have I would have thought they could be more efficient. O well it is still way ahead of bank term deposits so will keep struggling on.

This is written along the bottom of the Dashboard screen

"Timing of data updates can cause short-term variances between the dashboard and reports section."

I only have two loans in arrears and the dashboard is 100% correct at the present time. The more loans you have is arrears will lessen the likelihood of the amount in arrears being correct at any one point in time. But in the end what does it matter what the amount is anyway, right or wrong.

[darrenc]

Autolend loans would never hit the marketplace if they are completely filled by autolend demand. I think it would be fairer if autolend loans were allowed 15-30 minutes in the marketplace before going to autolend. This way, those of us for whom autolend is a blunt tool could still have a stab at loans which we think are going to be less risky.

[RMJH]

Autolend loans would never hit the marketplace if they are completely filled by autolend demand. I think it would be fairer if autolend loans were allowed 15-30 minutes in the marketplace before going to autolend. This way, those of us for whom autolend is a blunt tool could still have a stab at loans which we think are going to be less risky.

The minority with time to cherry pick should be given preference? I don't think so! However still seems to be a similar number of listings so don't think there is an autolend vacuum cleaner effect. Same could be said of the institutional funding.

As an aside it seems autolend doesn't cover all loans. I have clear examples where loans which meet my criteria but don't get picked up. I think maybe it is where several enquiries have been made so is a good thing given there is not a filter for this.

[darrenc]

The minority with time to cherry pick should be given preference? I don't think so! However still seems to be a similar number of listings so don't think there is an autolend vacuum cleaner effect. Same could be said of the institutional funding.

As an aside it seems autolend doesn't cover all loans. I have clear examples where loans which meet my criteria but don't get picked up. I think maybe it is where several enquiries have been made so is a good thing given there is not a filter for this.

Not everyone has autolend yet. I have 2 accounts and only one of them has been invited. Plus, people will take time to get used to it and implement it. Different people come on to Harmoney at different times of the day. Who has time to sit refreshing the screen the whole day?

[Investor]

Harmoney has stated that normally auto-lend loans receive priority in funding before hitting the wider marketplace. They do however state that it is possible for them to have less than 100% of loans being prioritized by auto-lend depending on auto-lend vs wider user demand. I believe it would be very naive to assume Harmoney is not investing for you in auto-lend due to the number of enquiries. You definitely will get auto-invested into loans with a high number of enquiries with the current filters not allowing for us to select our preferences.

[permutation]

Autolend loans would never hit the marketplace if they are completely filled by autolend demand. I think it would be fairer if autolend loans were allowed 15-30 minutes in the marketplace before going to autolend. This way, those of us for whom autolend is a blunt tool could still have a stab at loans which we think are going to be less risky.

In my experience over the last 2 weeks taking B-D grades, auto lend loan demand is filled before hitting the marketplace. Most of my auto-lends were only about 25>40% full and were available for several hours even a day!.

[whitt]

Harmoney has stated that normally auto-lend loans receive priority in funding before hitting the wider marketplace. They do however state that it is possible for them to have less than 100% of loans being prioritized by auto-lend depending on auto-lend vs wider user demand. I believe it would be very naive to assume Harmoney is not investing for you in auto-lend due to the number of enquiries. You definitely will get auto-invested into loans with a high number of enquiries with the current filters not allowing for us to select our preferences.

My gut feeling with the harmoney autolend priority comment is that they will limit % quantity of autolend in each loan.
They might even tweak or adjust these limits over the coming months untill they find a suitable figure that makes it fair for all investors.

[Investor]

My gut feeling with the harmoney autolend priority comment is that they will limit % quantity of autolend in each loan.
They might even tweak or adjust these limits over the coming months untill they find a suitable figure that makes it fair for all investors.

Yeah I don't think they will keep it at 100% auto-lend as they want to entice new investors to get involved.

[777]

If the intent is to give auto loan priority then that is another reason not to invest with them at all.

[RMJH]

Harmoney has stated that normally auto-lend loans receive priority in funding before hitting the wider marketplace. They do however state that it is possible for them to have less than 100% of loans being prioritized by auto-lend depending on auto-lend vs wider user demand. I believe it would be very naive to assume Harmoney is not investing for you in auto-lend due to the number of enquiries. You definitely will get auto-invested into loans with a high number of enquiries with the current filters not allowing for us to select our preferences.

Yes, I agree but it does seem (at this very early stage) that many of the loans that don't go to autolend are also unattractive for whatever reason. It's almost like someone decides if a loan is suitable for autolend or might be contentious. I just wish an outrageously obvious desperate buisiness cash flow loan (described as debt consolidation) that I got today had been one of them! But I still think we are really lucky to have the choices provided by this platform. At Zopa I have no say on what loans are invested, not even the grades!