Harmoney

[777]

Out of 153 loans, I have had 21 repaid in full. Effective interest rates on these has been OK with the worst one being about 7.24%. I think any loan repaid in the first 6 months should have an adjustment to the 1.25% fee on the principal.

3 loans are in arrears for more than a month. Often the arrears are just short term.

Getting logged out all the time annoys me. The informed me a new update of the site is coming up so hope that improves things.

[Harvey Specter]

Out of 153 loans, I have had 21 repaid in full. Effective interest rates on these has been OK with the worst one being about 7.24%.

How do you work this out (easily). With no export function, the pages you can cut and paste into excel dont have enough info to calculate this. Do you manual keep a spreadsheet with details of all loans. Must get tiresome with over 153 and growing(?).

[Mort]

Yes my arrears have nearly doubled in the last month & I'm only reinvesting returned P&I at present.
The refinancing has to be due to a Harmoney initiative i.e.mailout etc?? There have been too many to be anything else, I've had 12% of loans paid off early.

Is anyone else seeing their amount in arrears increasing compared to normal? Will need to do some calcs to see if it is an increase or just because my loan balance is increasing (appears to be the former but haven't confirmed).

Have notice a lot more refinancing coming though in the loans (ie. paying off an existing Harmoney loan and adding a few more $ into a new loan). Good payment histories but doens't give a good impression if you are having budgeting issues that early on in a loan.

Still having issues with the login - they should have been able to sort it out by now.

[Mort]

How do you work this out (easily). With no export function, the pages you can cut and paste into excel dont have enough info to calculate this. Do you manual keep a spreadsheet with details of all loans. Must get tiresome with over 153 and growing(?).

Harmoney will supply you a full transaction file, you can then pull data from a particular loan. Also on your other post, no service fees is charged on rewrites.

[777]

How do you work this out (easily). With no export function, the pages you can cut and paste into excel dont have enough info to calculate this. Do you manual keep a spreadsheet with details of all loans. Must get tiresome with over 153 and growing(?).

I do keep a spreadsheet and yes it is a bit time consuming but I wanted to be able to reconcile everything as my faith in their site was not great.

However if you click on the loan it gives you the date issued and the date repaid along with the gross interest received. Take the gross and reduce it by the tax paid and the 1.25% of the gross interest and 1.25% of the original loan and you have the net result.Gross it back up. Simple to annualise it from the number of days invested.

[PennyPicker]

Is anyone else seeing their amount in arrears increasing compared to normal?

Yes, it's been creeping up over the past few weeks and not reducing.

Still having issues with the login - they should have been able to sort it out by now.

It may be unrelated, but they have a (Chrome) bug in the web site that isn't handling cookie time-outs correctly. If you don't logout but close the browser window the active cookie is left behind. Next time you visit the site from that PC (browser) the menu indicates you can view your Dashboard (suggesting you're still logged in), but clicking this flicks back to the login page. Clicking Logout before trying to Login works around this.

They have a number of basic web app bugs in the login page that are quite annoying and their support team don't seem to respond on these. They're a two minute fix and would really improve the user experience;

1. The email field should 'toLower' and trim blanks before trying to validate the input value. Auto-complete keyboards on mobile devices will often leave a trailing space (e.g. Swiftkey on Android) and this causes the email validation to fail.
2. The username/email field should probably gain focus automatically when the login page loads. This would reduce the number of clicks the user has to complete in order to log in.
3. Press 'enter' while the username/email field has focus should only trigger the login button if the password field has a value, otherwise it should put focus to the password field.

These are basic functional test failures that give me some raise for concern that if these aren't working correctly, what else, that's more complex, is not being tested and fixed...?

Sorry, slightly on a soap box, but really, these are basic web dev issues that are 'low risk' but make the login UX better. Which I guess is what they want?

[Harvey Specter]

They are meant to be building a second version of the site (which is now overdue) so I wonder if it is more a case of not wanting to spend time fixing something that will be fixed any day. Depends I guess on if they will be reusing existing code or if its a complete rebuild.

[Soolaimon]

Arrears are slowly growing also. Another thing I am finding is that the 36 month loans are becoming fewer in the marketplace. 24 out of 120 loans paid off. I have stopped reinvesting in the meantime but keep reviewing the situation.

[humvee]

I seem to have fair few in arrears at the moment some by several months. but haven't received any Overdue Fees at all. Has anyone received any?

[humvee]

Also any one had anything Written Off? What is the criteria for this to happen?