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Thread: Harmoney

  1. #1861
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    Default First Autolend in 26 days

    Finally got my first autolend loan today. Last one was 19 Dec. Not sure if it is because I loosen my filters yesterday to include almost all loans. The single Autolend loan I got, I would have got under the old filter anyway.

  2. #1862
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    Quote Originally Posted by permutation View Post
    I don't think I'm out of pocket, the -$8.50 comes from the total outstanding p/p's which are added onto the principal from the borrowers.
    Have you looked at the o/s principal of those loans??

  3. #1863
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    Quote Originally Posted by Cool Bear View Post
    Have you looked at the o/s principal of those loans??
    My p/p loans repaid were only 1 -3 months in duration and I received slightly (p+I) more than my original investment, including my lender rebate.

    Now, I have just sorted my active loans online from highest principal outstanding and with over 60 p/p loans the balances are all over $25 plus I have received payments of p+I, so the result is "well in the money".

    Everyday that goes by with my active loans, more and more of the payment protect amount drifts from the borrower to the lender.

  4. #1864
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    Default

    Have a look at the o/s principal of those paid off PP loans!

  5. #1865
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    Quote Originally Posted by Cool Bear View Post
    Have a look at the o/s principal of those paid off PP loans!
    I have more than broken even from the paid off p/p loans!!

    We have to look at the big picture; the reality is that anyone not investing in "payment protect " loans will ever get any benefit from them.

    The bottom line is the total net profit after fees and tax, which for me is fantastic; better than any other form of investment except property of course.

    Off to the beach!

  6. #1866
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    Quote Originally Posted by permutation View Post
    I have more than broken even from the paid off p/p loans!!

    We have to look at the big picture; the reality is that anyone not investing in "payment protect " loans will ever get any benefit from them.

    The bottom line is the total net profit after fees and tax, which for me is fantastic; better than any other form of investment except property of course.

    Off to the beach!
    If you read all my previous posts, I have always said that overall I am happy with Harmoney. I am just pointing out one fact that many investors may have missed. Even in these past few posts I mentioned that I will most likely be in the black in the long run with PP loans. The more we know the better investors we are. Enough said.

  7. #1867
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    Default Impact of RWT on Retail Investors

    Quote Originally Posted by nztyke View Post
    The returns quoted are before tax. Tax is paid on all forms of interest income so its impact is neutral except of course the question of deductibility of service charges and write offs.
    A non-business retail investor pays RWT on gross interest whether it is from Term deposits with a Big Aussie Bank or from loan notes with Harmoney. Leaving aside service charges, the difference is that you will more than likely not suffer any capital loss in your amount invested with the Big Aussie. With Harmoney if you invest as they advise in a fractionalised portfolio of notes with many borrowers, then you will more than likely suffer an annual capital loss with some of your notes. This capital loss would be expected to be higher for those investors with more invested in the lower grades. As a consequence, your actual tax rate on your total net return (taking into account the loss of capital) from your initial capital invested with Harmoney will be higher than the tax rate on your bank term deposits interest payments. I don't think that for such investors, the actual impact of RWT is neutral. DYOR.

  8. #1868
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    Does anyone have stats on write offs for original loans as compared with rewrites?

  9. #1869
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    Quote Originally Posted by Robuste View Post
    Does anyone have stats on write offs for original loans as compared with rewrites?
    No stats - but I imagine the rate of defaults for rewrite people will be larger.
    You know, if I just had a little more then all my problems would go away.
    Applying for a rewrite is the last desperate attempt to stave off the inevitable.

  10. #1870
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    Yes my thinking too. I have turned rewrite off on my auto lend filter and rarely manually purchase rewrite loan notes.
    I think i will only consider these if the new amount is a minor increase say 10% although one can only guess whether that is the case
    as one doesn't see the amount of the original loan, only the paid off amount. However this will be pretty much the same after
    only 3 repayments as is often the case.
    Last edited by Robuste; 15-01-2017 at 03:14 PM.

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