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Thread: Harmoney

  1. #1771
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    As Dan said they don't always give 100% funding priority to autolend loans

  2. #1772
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    Quote Originally Posted by Dan@Harmoney View Post
    Hi, if Auto-lend does not place an order in a loan that meets your filter criteria it will be because the Auto-lend has met its maximum allocation for that loan and the priority of your order was below the cut-off. There is more detail on how Auto-lend prioritisation works here: https://www.harmoney.co.nz/how-it-works/auto-lend
    C'mon Dan, give us a bit more info. That link only says "the percentage of each loan that can be fulfilled with auto-lend can be set to less than 100%. Harmoney will set it based on the demand for Auto-Lend vs manual lending.", but it gives us no clue as to what you're really doing, and it only says the auto-lend "can" be set to less than 100%, not that it will be.

    Can you add income type to the filter criteria? One of my auto-lend loans went to a person that I would prefer not to lend to, but I have no choice about excluding them because of their income type.

    All-in-all, seems like my best option is to turn auto-lend off, and build up a surplus of cash that I'll have to take elsewhere because I can't manually invest it fast enough.

  3. #1773
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    Quote Originally Posted by kiwi_on_OE View Post
    C'mon Dan, give us a bit more info. That link only says "the percentage of each loan that can be fulfilled with auto-lend can be set to less than 100%. Harmoney will set it based on the demand for Auto-Lend vs manual lending.", but it gives us no clue as to what you're really doing, and it only says the auto-lend "can" be set to less than 100%, not that it will be.

    Can you add income type to the filter criteria? One of my auto-lend loans went to a person that I would prefer not to lend to, but I have no choice about excluding them because of their income type.

    All-in-all, seems like my best option is to turn auto-lend off, and build up a surplus of cash that I'll have to take elsewhere because I can't manually invest it fast enough.
    From website
    How is Auto-Lend prioritised?

    Loans go through the Auto-Lend engine before they hit the Marketplace. This means that users of Auto-Lend do get priority over manual lending in the Marketplace. However, the percentage of each loan that can be fulfilled with auto-lend can be set to less than 100%. Harmoney will set it based on the demand for Auto-Lend vs manual lending.
    The Auto-lend engine prioritises which Lender it orders notes for first using a prioritisation ratio of 'Funds available' to 'principal outstanding +1'. The Lenders with the highest ratio will get the first orders of notes. For example:

    • Lender A has $50 Funds available and $1,000 Principal Outstanding, so a ratio of 5% (50 / 1001)
    • Lender B had $300 Funds available and $8,000 Principal Outstanding, so a ratio of 3.75% (300 / 8001)
    • Lender C has $8,300 Funds available and $187,800 Principal Outstanding, so a ratio of 4.41% (8,300 / 187,801)

    In this scenario, Auto-Lend would prioritise Lender A first, then Lender C, then Lender B.

  4. #1774
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    So in the above example,if I have read it right, in my situation where I have about $200 Funds Available and $90,000 Principal Outstanding Autolend is useless as I am not going to allow the Funds Available to build up to the level apparently needed. This seems arse about face to me; the lenders with the larger balances are the ones who need Autolend the most. its too labour intensive otherwise, I have to check the site several times a day to keep my funds invested. I will have to adopt the same solution as kiwi_on OE

  5. #1775
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    Quote Originally Posted by nztyke View Post
    So in the above example,if I have read it right, in my situation where I have about $200 Funds Available and $90,000 Principal Outstanding Autolend is useless as I am not going to allow the Funds Available to build up to the level apparently needed. This seems arse about face to me; the lenders with the larger balances are the ones who need Autolend the most. its too labour intensive otherwise, I have to check the site several times a day to keep my funds invested. I will have to adopt the same solution as kiwi_on OE
    That should just be the prioritisation of your money, you should still get invested, even though you may have a low priority. But that's the problem, they have a wishy-washy statement about how much of a loan may or may not be filled with auto-lend, and unless we manually check (defeating the purpose of auto-lend), we won't know if we have been invested in anything at all.

  6. #1776
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    I totally agree with all The comments on autolend recently.
    I have had to manually invest this week to use my account funds.
    Has Harmoney tweaked the settings too far ? The priority system seems unfair to big investors. It seems mainly aimed at small mum and dad style investors.
    Can big investors have special access like heartland bank etc.

  7. #1777
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    Does anyone one here have more than one Harmoney account. (thought someone mentioned it) If so, how did you go about this.

  8. #1778
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    May 2014
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    Quote Originally Posted by whitt View Post
    OK
    Maybe Kiwi_on_OE is right. The system missed yet another autolend that met my setup again today. That is several this weekend it has missed. On closer inspection it hasnt auto invested in any for 3 days now.

    It might be broken completely.
    If your portfolio is 200 loans or more (so your'e diversified) and you have set your auto lend stuff up etc, Harmoney really becomes more of a passive investment than an active one where you are in there every day trying to loan select, I have found.

    The system works, I have noticed it may have missed some for me, but I can come back after a few days, go to reports, choose auto lend loans, and see that it has done a bunch. It doesnt get all of them, but it does a pretty good job of investing my funds.

    Took maybe 3 weeks to put an extra $30k into the market, so that i hit my 10 / 25 / 22.5 / 20 / 17.5 / 5 % portfolio mix.

  9. #1779
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    Quote Originally Posted by nztyke View Post
    So in the above example,if I have read it right, in my situation where I have about $200 Funds Available and $90,000 Principal Outstanding Autolend is useless as I am not going to allow the Funds Available to build up to the level apparently needed. This seems arse about face to me; the lenders with the larger balances are the ones who need Autolend the most. its too labour intensive otherwise, I have to check the site several times a day to keep my funds invested. I will have to adopt the same solution as kiwi_on OE
    what you can't log in and allocate $200 to 2 loans? - assuming if you have $90k invested you are doing 4 notes per loan

    Like i say, just let it run its course, it does work. On the one hand you say you want to use auto lend to invest you moneys cause the micro management is annoying, but then you say you check it enough to see that auto lend doesn't always immediately work (it does work, just be patient).

  10. #1780
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    Quote Originally Posted by alistar_mid View Post
    what you can't log in and allocate $200 to 2 loans? - assuming if you have $90k invested you are doing 4 notes per loan

    Like i say, just let it run its course, it does work. On the one hand you say you want to use auto lend to invest you moneys cause the micro management is annoying, but then you say you check it enough to see that auto lend doesn't always immediately work (it does work, just be patient).
    You could be right. I usually invest in 12 units in A, 8 in B and 4 in C. Also I prefer 36 month loans of which there seem to be a lot less nowadays. It will probably work better if I change my criterion to 60 months. I will change the filter and see what happens.

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