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Thread: Harmoney

  1. #2041
    yeah, nah
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    Not sure how this can be attributed to Harmoney. I suspect it's simply due to excessive investors relying on Auto-Lend with criteria too tight and perhaps to many with high Funds Available due to lack of loan availability. Has anyone actually seen a loan that meets their Auto-Lend criteria not be picked up?

    I'm new to Harmoney, but haven't been running a high Funds Available to Outstanding Principle ratio (until the last 2 days) and had picked up 18 Auto-Lends in 8 days. Having recently put in significant funds (higher ratio) I haven't seen any obvious change to Auto-Lend pickup rates.

    I've had lots of time to monitor loans as they come in and cherry pick the ones that 'feel' right to me outside of my Auto-Lend criteria. None that I've seen that match my Auto-Lend criteria have not been automatically picked up. Currently at just over 80 loans typically 2 or 4 notes each. I have seen (or rather didn't see) one loan get picked up by my Auto-Lend criteria that never showed up - refreshing every minute - in the Browse loans area.

    I don't restrict to 36 mth terms (to me 60 mth term loans offer better value on paper as the additional 24 mths is not the danger zone). A smaller number of available 36 mth term loans and a large number of Auto-Lend criteria set with that option is going to result in limited pickups. Nothing sinister here I don't think...

    If Harmoney weight Auto-Lend based on Funds Available to Outstanding Principle ratio, which is actually a sensible/fair way to do it, then the issue is more to do with too many Lenders holding too much Funds Available in their accounts. Using this method, Harmoney are trying to reduce the higher ratios, not increase them.

    At the end of the day it doesn't matter how they do it, what Available funds are in the total system won't change if there are no outstanding loans...

  2. #2042
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    Quote Originally Posted by myles View Post
    Not sure how this can be attributed to Harmoney. I suspect it's simply due to excessive investors relying on Auto-Lend with criteria too tight and perhaps to many with high Funds Available due to lack of loan availability. Has anyone actually seen a loan that meets their Auto-Lend criteria not be picked up?

    I'm new to Harmoney, but haven't been running a high Funds Available to Outstanding Principle ratio (until the last 2 days) and had picked up 18 Auto-Lends in 8 days. Having recently put in significant funds (higher ratio) I haven't seen any obvious change to Auto-Lend pickup rates.

    I've had lots of time to monitor loans as they come in and cherry pick the ones that 'feel' right to me outside of my Auto-Lend criteria. None that I've seen that match my Auto-Lend criteria have not been automatically picked up. Currently at just over 80 loans typically 2 or 4 notes each. I have seen (or rather didn't see) one loan get picked up by my Auto-Lend criteria that never showed up - refreshing every minute - in the Browse loans area.

    I don't restrict to 36 mth terms (to me 60 mth term loans offer better value on paper as the additional 24 mths is not the danger zone). A smaller number of available 36 mth term loans and a large number of Auto-Lend criteria set with that option is going to result in limited pickups. Nothing sinister here I don't think...

    If Harmoney weight Auto-Lend based on Funds Available to Outstanding Principle ratio, which is actually a sensible/fair way to do it, then the issue is more to do with too many Lenders holding too much Funds Available in their accounts. Using this method, Harmoney are trying to reduce the higher ratios, not increase them.

    At the end of the day it doesn't matter how they do it, what Available funds are in the total system won't change if there are no outstanding loans...
    I've just invested in my first 60 month loans I'm sure it will be significantly easier to invest through Harmoney now. Also I agree with your comments. There have been plenty of complaints from people about how long it is taking for their money to be invested, it is just a matter of demand vs supply.

  3. #2043
    yeah, nah
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    36vs60.jpg

    I think the graph tells the story of 36 mth vs 60 mth availability... I've not used it as a criteria i.e. picking either without bias, so the difference shown is likely to be somewhat representative of just how many 36 mth loans are actually available...

    I don't take many/any low interest A Grade loans, so there could be a few more 36 mth loans in that range?

  4. #2044
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    Quote Originally Posted by myles View Post
    36vs60.jpg

    I think the graph tells the story of 36 mth vs 60 mth availability... I've not used it as a criteria i.e. picking either without bias, so the difference shown is likely to be somewhat representative of just how many 36 mth loans are actually available...

    I don't take many/any low interest A Grade loans, so there could be a few more 36 mth loans in that range?
    You might find that the 36/60 month graph may not be accurate. From my live loans, my real figure is 35% of loans are 36 months. The graph shows 25%.
    Even the grades graph is not quite accurate either.

    When I extrapolate the proportions to my all time loans it doesn't show correctly either.

    Harmoney do not state on any of the graphs they provide whether it's live loans data or All time loans data. Because of the high repayment ratio, mine currently 36% of loans repaid, it can make a big difference to the displayed graphs.
    Last edited by permutation; 02-04-2017 at 06:18 AM.

  5. #2045
    yeah, nah
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    my36vs60.png
    I've been pulling data into a spreadsheet to do my own numbers. The graph above is actual minus about $650 sitting in Funding Balance (weekend). Looks very similar to me.

    The point is the same, if you have Auto-Lend set to only select 36 mth term loans, you're not going to get many...

  6. #2046
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    Quote Originally Posted by myles View Post
    my36vs60.png
    I've been pulling data into a spreadsheet to do my own numbers. The graph above is actual minus about $650 sitting in Funding Balance (weekend). Looks very similar to me.

    The point is the same, if you have Auto-Lend set to only select 36 mth term loans, you're not going to get many...
    Did you know that you can only select 36 month or 60 month max term in Auto-lend but not both.

    So to get both, you just deselect the max. term filter, so by default you get both. You can check it in the orders section the next time you have a successful Auto-Lend Loan.

    ~
    Attached Images Attached Images
    Last edited by permutation; 02-04-2017 at 08:52 AM. Reason: added image

  7. #2047
    yeah, nah
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    Yeah, good point. It's not a matter of turning 60 mth term on, but removing the criteria all together assuming you want both.

  8. #2048
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    Quote Originally Posted by myles View Post
    Not sure how this can be attributed to Harmoney. I suspect it's simply due to excessive investors relying on Auto-Lend with criteria too tight and perhaps to many with high Funds Available due to lack of loan availability. Has anyone actually seen a loan that meets their Auto-Lend criteria not be picked up?

    I'm new to Harmoney, but haven't been running a high Funds Available to Outstanding Principle ratio (until the last 2 days) and had picked up 18 Auto-Lends in 8 days. Having recently put in significant funds (higher ratio) I haven't seen any obvious change to Auto-Lend pickup rates.

    I've had lots of time to monitor loans as they come in and cherry pick the ones that 'feel' right to me outside of my Auto-Lend criteria. None that I've seen that match my Auto-Lend criteria have not been automatically picked up. Currently at just over 80 loans typically 2 or 4 notes each. I have seen (or rather didn't see) one loan get picked up by my Auto-Lend criteria that never showed up - refreshing every minute - in the Browse loans area.

    I don't restrict to 36 mth terms (to me 60 mth term loans offer better value on paper as the additional 24 mths is not the danger zone). A smaller number of available 36 mth term loans and a large number of Auto-Lend criteria set with that option is going to result in limited pickups. Nothing sinister here I don't think...

    If Harmoney weight Auto-Lend based on Funds Available to Outstanding Principle ratio, which is actually a sensible/fair way to do it, then the issue is more to do with too many Lenders holding too much Funds Available in their accounts. Using this method, Harmoney are trying to reduce the higher ratios, not increase them.

    At the end of the day it doesn't matter how they do it, what Available funds are in the total system won't change if there are no outstanding loans...
    If I got my numbers right, then Harmoney aren't putting much of the money through auto-lending (14%), if they increased the auto-lending then our average cash balance would decline.

    When I see unfulfilled loans, I have seen loans that match my auto-lend criteria and to which I have not auto-lent any money.

  9. #2049
    yeah, nah
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    How did you get the 14%?

    That figure doesn't match with what I've experienced in the short time I've been involved.

  10. #2050
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    Oct 2016
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    Quote Originally Posted by myles View Post
    How did you get the 14%?

    That figure doesn't match with what I've experienced in the short time I've been involved.
    That 14% is the percentage of loans funded via Auto Lend, not the percentage of available cash required.

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