Harmoney

[Cool Bear]

Hi Monica & Co,

Your present priority (copied from an earlier post):

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.

In the above scenerio, A gets priority over C. In the real world, A, with just $1000 invested, would probably want to invest his/her $50 manually and not lose control over his/her money. C on the other hand do not have the time to sign in every 30 minutes to check if he/she can invest his/her $8300 cash. So the present model do not benefit those who needs Autolend most.

I can suggest two very simple alternatives:

Alternative One
Just based the priority on the Cash available.
So, would be C then B, then A.

Alternative Two
Keep your present arrangement but add 1% to an investor score for every $50000 he has in his principal outstanding.
So, someone with $2200 cash and $50000 would have $2200/$50001 +1% = 5.4%
and someone with $3000 cash and $160000 would have $3000/160001 +3% = 4.9%
Thus, in your example above C will now have 7.41% and the priority would be C, A then B.

My recommendation is Alternative Two

[Cool Bear]

Hi again Monica

Alternative two also encourage investors to increase their investment to hit the next $50,000.

Presently, the incentive is for those with a lot invested to take out the excess cash, which can grow very fast with repayments (early or not), as it is too time consuming!

Regards
Cool Bear

[Darchie]

Cool Bear ... you've hit the Nail on the Head ....
I was a late starter with autolend was only there from early November, and I found it really improved my attitude towards Harmoney ... but now I've not seen an autolend since 14th Dec ... SO my currentl intention is; log in .. if no loan there that fits my selection criteria. . Then whatever credit sitting there for the day is withdrawn ......

[whitt]

Cool Bear
I like alternative 2 although with a tweak. Earlier reward people than first 50k.

50k figure would still be tedious to achieve manually and if you are trying to encourage mum and dad investors why not have some earlier reward levels as it is unlikely they will ever meet the 50k suggestion.

Instead maybe a simple 0.1% bonus every 5k. That gives the same effect as your example 1% every 50k but helps the small investors too.

[whitt]

Login to your dashboard and check today's news guys.
18 Jan

The restriction on quantity of autolend loans per loan has been removed.

Let's see if this improves our trigger rate.

The only autolend restriction criteria that remains is now the % rule.

[Fisherking]

Login to your dashboard and check today's news guys.
18 Jan

The restriction on quantity of autolend loans per loan has been removed.

Let's see if this improves our trigger rate.

The only autolend restriction criteria that remains is now the % rule.

Can't see that helping, its the % that's the problem.

[Fisherking]

Agree, it's a very useful tool, but not worth having if it can't be used once you get a few $ invested.

Maybe i'm a cynic but it seems to me Harmoney will benefit if all us investors have a few $ sitting in our accounts unused. Collectively this would sum to a few $ which i'm sure they'll put to use somewhere. This is one possibility for the current arrangement.

My ratio (cash/total investment) seldom goes above 1% which is why I don't expect much from Autolend if Harmoney continue with this rule. I understand Harmoney wanting to be fair to smaller investors but they are missing the point of the exercise.

Someone with $10000 invested and $500 cash will probably want to do it manually and they will have time to do it as the cash repayments do not accumulate that fast. For an investor with say $80,000, to be in the same 5% ratio, you will need to leave $4000 in Cash to get the same priority. And as you probably have to sign in every half an hour in order to be able to do it manually as the loans dissappear too quickly, you are the one that really needs Autolend.

[Cool Bear]

Can't see that helping, its the % that's the problem.

Agreed. Probably made it worse for those of us with more $ invested and thus lower %. The guys in front of us (now without limits) will fill up the amount allotted to Autolend for each loan faster.

[nztyke]

Agreed. Probably made it worse for those of us with more $ invested and thus lower %. The guys in front of us (now without limits) will fill up the amount allotted to Autolend for each loan faster.

I agree with all of the above. i have moved from frustration to annoyance on this issue. I am not putting any new money into Harmoney, using LC instead, fewer loans and lower returns but lower risk profile and there doesn't seem to be the same level of churn that is evident in Harmoney. Cash available to principal outstanding currently 2.8%

[Saamee]

Now I've gotta say > RAR being updated Weekly - What a great and unexpected move by Harmoney...

RAR.PNG