Harmoney

[kiora]

A Study:Pretty good returns so far
http://www.interest.co.nz/personal-f...experiment-and

[Harvey Specter]

A Study:Pretty good returns so far
http://www.interest.co.nz/personal-f...experiment-and

She really is doing it wrong. Mistakes:

- depositing all up front, not drip feeding in
- not going in every day to review the new loans

I dont remember the graph at the bottom of this page before: https://www.harmoney.com/investors/loan-performance

Basically more than half of the defaults are expected to occur in the first 10 months which agrees with this : http://www.lendacademy.com/the-diffe...ns-on-prosper/

Most of my investing was done 10 months ago, most towards the higher risk end (though one was a B3!) and I have had less than 2% default. If I double this and take if off the forecast return, I should be earning over 15% which is quite good.

[Harvey Specter]

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.

[newtrader]

The refinancing/rewriting is concerning as in investor as the principal is released back to me (less service fees); needing to reinvest again or risk a large balance of funds building up and earning no interest.

They have been operating for almost a 1 year now, Harmoney should start releasing some performance information so investors can see how they are tracking compared to their forecast defaults.

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.

[Harvey Specter]

The refinancing/rewriting is concerning as in investor as the principal is released back to me (less service fees); needing to reinvest again or risk a large balance of funds building up and earning no interest.

They have been operating for almost a 1 year now, Harmoney should start releasing some performance information so investors can see how they are tracking compared to their forecast defaults.

Started in September-ish so not a full year yet. Would be good to see some stats. In the US, they expect most defaults to be in the first 10m of the loan so old loans should be more stable now.

[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.

[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?

[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]

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.