Harmoney

[RMJH]

Is it just me, or is there a real lack of loans around? Finding it really hard to invest at the moment, even without being fussy! Maybe they need to ramp up the marketing on the sell side.

You are not alone. I am finding there are not quite enough loans to replace repayments so cash is slowly growing and portfolio shrinking. I upped to 5 notes per loan from 4 but cash is still stubbornly around 7%.

[permutation]

You are not alone. I am finding there are not quite enough loans to replace repayments so cash is slowly growing and portfolio shrinking. I upped to 5 notes per loan from 4 but cash is still stubbornly around 7%.

Same here, have noticed this since they open-ended the number of notes for Auto-lend, speaking of which, have had only one such loan since mid Dec. I have made no adjustments to filters. I do notice that when a loan appears in my A/L filter it is about 15% full. So from this I ponder; very few lenders with big $ balances requesting greedy numbers of notes get 1st dibs??

[Wsp]

Has anyone noticed a correlation between high Enquiries in Last 6 Months (i.e > 4) and defaults?

Not myself but some analysis from overseas indicates that a higher number of enquiries tends to result in a greater likelihood of default.
See http://www.lendacademy.com/why-numbe...ending-filter/

[darrenc]

Same here, have noticed this since they open-ended the number of notes for Auto-lend, speaking of which, have had only one such loan since mid Dec. I have made no adjustments to filters. I do notice that when a loan appears in my A/L filter it is about 15% full. So from this I ponder; very few lenders with big $ balances requesting greedy numbers of notes get 1st dibs??

Same problem here. I have $80k in and am struggling to get rid of it all given the level of repayments (not just interest). So much so that I've started transferring some of it out to Lending Crowd which has even fewer loans, but at least I can invest it somewhere. I'm mostly buying 3 notes per loan in Harmoney. I've never had an autolend trigger. I've had up to $1500 sitting in the account, which is a lot to be laying around not earning 15%pa.

[alistar_mid]

Same problem here. I have $80k in and am struggling to get rid of it all given the level of repayments (not just interest). So much so that I've started transferring some of it out to Lending Crowd which has even fewer loans, but at least I can invest it somewhere. I'm mostly buying 3 notes per loan in Harmoney. I've never had an autolend trigger. I've had up to $1500 sitting in the account, which is a lot to be laying around not earning 15%pa.

I just committed another $25k (started with $50k) when I realised just how fast the money comes out - because of paid off loans. One of my main concerns was how long your money is tied up for as it slowly drip feeds out over the course of the loan, but given you get ~3% of loans paid off early per month + repayments from others, you get 50% of your invested funds back in the first year.

So I just check a couple of times a day, and have no problem finding loans to invest in, sure theres some times when there no loans or loans that don't fit my criteria, but most of the time theres stuff to invest in.

The last $5k will take longer of course as its where I balance everything out to get my desired portfolio dsitrbution

[reacher]

Hi there, new to Harmoney. Is there any notification service about for a loan account holder with information such as loans being paid and receiving funds early?

I am using AutoLend already but wonder if I still need to manage my account on a regular basis to make the most of my deposits.

[BJ1]

If you rely on autolend to keep your funds invested then you are likely to struggle. Investors with a higher percentage of cash to investments have preference in the queuing system and that seems to include the wholesale investors. There are many posts recording the difficulty in autolend over recent months. I have never relied on itl and now have it left permanently on with a filter that targets D grade loans as I can't fill my quota of them - in 2 months I haven't struck one loan. And I've noticed that there are many times when the number of loans filled in the last 24 hours jumps up with no loans appearing on the Marketplace. I doubt that they are being filled by retail investors taking 3 or 4 notes each so it seems the big boys are grabbing them.

[Wsp]

Harmoney seem to have got lazy with their updating of the platform statistics page. It seems to still be from November last year

[reacher]

Thanks BJ1. I have only started out with a small investment for a trial, $500. Once I had my AutoLend parameters sorted it picked up a couple of loans. I have completely allocated my funds by hand picking others and I fell AL will allocate a new note once repayments start coming through.

As a new user I am interested to hear your experience with the D grade loans if you will

[BJ1]

You also need to be aware that when you are manually ordering notes it is common for what is shown as available to not actually be there. There has been a glitch in the system all weekend where no updating has taken place on loans on the marketplace so when you place an order you get a confirmation that it has been accepted, but the number of notes available doesn't reduce by the number you ordered. So eventually, your order is cancelled because it never should have been able to be made. This glitch has appeared previously but seems to be particularly bad this weekend.