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Thread: Harmoney

  1. #16
    Dilettante
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    I wanted to set up an account but can not get past the disclosure agreement. Repeatedly get a message telling me to confirm at the bottom of the page that I've read it but there is no OK button at the bottom of the page. Have had 2 other people look at it for me in case I was missing something but same result. Any idea anyone ?

  2. #17
    Senior Member Halebop's Avatar
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    Quote Originally Posted by iceman View Post
    I wanted to set up an account but can not get past the disclosure agreement. Repeatedly get a message telling me to confirm at the bottom of the page that I've read it but there is no OK button at the bottom of the page. Have had 2 other people look at it for me in case I was missing something but same result. Any idea anyone ?
    Tried opening the disclosure statement?

  3. #18
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    Quote Originally Posted by Halebop View Post
    Tried opening the disclosure statement?
    Haha. Even read every word but doesn't solve my issue

  4. #19
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    Do any of you have unfilled orders that now do not appear on the Marketplace page?


    It appears loan did not go ahead. No notification. You just need to work it out yourself.
    Last edited by 777; 11-01-2015 at 03:17 PM. Reason: update

  5. #20
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    Quote Originally Posted by iceman View Post
    Haha. Even read every word but doesn't solve my issue
    Try using a different browser (e.g. Firefox, Chrome, etc.) That behaviour could be the result of some security settings on your current browser.

  6. #21
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    Thanks Zaphod. I did try using both Firefox and IE but still have the same issue. I think I will just buy a few more HNZ, a lot easier

    Quote Originally Posted by Zaphod View Post
    Try using a different browser (e.g. Firefox, Chrome, etc.) That behaviour could be the result of some security settings on your current browser.

  7. #22
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  8. #23
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    Quote Originally Posted by 777 View Post
    Do any of you have unfilled orders that now do not appear on the Marketplace page?


    It appears loan did not go ahead. No notification. You just need to work it out yourself.
    Yes, I had a couple of those back in Sept/Oct. No notification then also. I called about it and was told that the loans were unfilled. Since then all I have invested in have been filled. Also, I have had two loans fully re-paid, one almost at issue time, the other within one month. Got a $2 return from that one!!
    Soolaimon

  9. #24
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    How many loans are up all the platform at once? Could you spread for example $50K across a decent number of loans to minimise the default risk/exposure?

  10. #25
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    Quote Originally Posted by Entrep View Post
    How many loans are up all the platform at once? Could you spread for example $50K across a decent number of loans to minimise the default risk/exposure?
    no

    Currently 22 loans (only 2 meet my criteria). Over the course of a few weeks you could (depend on what your criteria are). Say 100 loans at $500 max is descent spread. I would do it slower though as $500 per loan is a lot.

    There are others here that have invested that much so they may let you know how long it took, and the max they put into each.
    Last edited by Harvey Specter; 14-01-2015 at 10:42 PM.

  11. #26
    Senior Member Halebop's Avatar
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    Quote Originally Posted by Entrep View Post
    How many loans are up all the platform at once? Could you spread for example $50K across a decent number of loans to minimise the default risk/exposure?
    Not many at any moment in time but there is fairly regular movement in terms of completing financing of individual loans and new offers arriving. If you believe the numbers they stated in various media blurbs it implies they have completed 1,400+ loans since start up ($20m in loans, $14,000 average).

    If you wanted to invest $50,000 it might take a while depending upon your risk tolerance. I note Harmoney recommend you purchase no more than 10% of a loan but would suggest unless you are investing millions this would represent an unwise degree of concentration risk for sums like $50,000. Think wiser to take your time and buy into hundreds to allow more room for the pricing vs default statistics to work as designed.

    I've been buying into many loans at small values on behalf of my partner to achieve wide diversification since there is no control or visibility of the underwriting/risk assessment process. Based upon desired criteria have over 6 weeks bought into 70 or so loans so far. We intend to continue purchases at the same sort of pace for 3 years assuming the numbers and Harmoney (and their assessment process!) performs as expected.

  12. #27
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    What's the tax situation for lenders? Do Harmoney deal with the RWT? Is it tax free?
    No advice here. Just banter. DYOR

  13. #28
    Senior Member Halebop's Avatar
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    Quote Originally Posted by noodles View Post
    What's the tax situation for lenders? Do Harmoney deal with the RWT? Is it tax free?
    They have a similar process to banks - you specify the with-holding tax or prove to them why you should be zero rated.

  14. #29
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    I just signed up today and tried to invest a small amount, but apparently there aren't enough loans on the marketplace. Is that a sign of not many borrowers, or has the recent media attention created a flood of investors? I hope it's not normally this hard to find loans to invest in!

  15. #30
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    Quote Originally Posted by Cricketfan View Post
    I just signed up today and tried to invest a small amount, but apparently there aren't enough loans on the marketplace. Is that a sign of not many borrowers, or has the recent media attention created a flood of investors? I hope it's not normally this hard to find loans to invest in!
    There is over a page of loans currently which is good for them - have very rarely seen 3 pages and have had them run out completely. I understand they drip feed them to the market so as those get taken up, they will be replaced.

    Of the 2 pages currently, only 2 meet my criteria.

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