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Thread: Harmoney

  1. #2071
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    Quote Originally Posted by Snow12 View Post
    I have a much bigger level than that and still don't get any Auto Loans. Do get many that meet my Auto Loan rules manually so think the whole Auto loan is a rout.

    I'm surprised about no one noticing that the majority of new loans these days are all rewrites. For example just had a look and 8 loans listed and 7 were rewrites. That's seven loans the rest of us won't get much return on and then have to reinvest.
    Auto Loans???? Havn't scored one since early January. Agree, it's a rout. Rewrites..... it has been like that for months, I don't like the bulk of them but to remain invested one has to take them. And... for the last 3 hours can't access the market place. Unknown error.
    Soolaimon

  2. #2072
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    Quote Originally Posted by Soolaimon View Post
    Auto Loans???? Havn't scored one since early January. Agree, it's a rout. Rewrites..... it has been like that for months, I don't like the bulk of them but to remain invested one has to take them. And... for the last 3 hours can't access the market place. Unknown error.
    What I've been seeing, although there are always exceptions, is that loans hit the marketplace at about 20% allocated. For many of those I get about 3 minutes to take a position before they jump to over 80% allocated. Given that wholesale investors are taking 75% of total loans on offer this begs the question - is that 75% a manufactured result due to Harmoney's "cutting off" retail investors around about the 25% position? If Harmoney was to allow autolend thresholds to be higher or leave it longer before allocating to wholesale investors would more retail lenders experience satisfaction with their autolend results? Does Harmoney have any responsibility to do this? If this is truly meant to build P2P then the answer is Yes. But Harmoney needs the volume and retail investors are doing well compared to other options available.

  3. #2073
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    Quote Originally Posted by BJ1 View Post
    Given that wholesale investors are taking 75% of total loans on offer this begs the question - is that 75% a manufactured result due to Harmoney's "cutting off" retail investors around about the 25% position?
    NO! Retail investors do not Auto-Lend (match) 100% of loans! So Harmoney aren't "cutting off" at 25% or, I suspect, anywhere near it.

    I've got a fairly "open" Auto-Lend criteria and it doesn't come close to matching 25% of the loans that go through...

    I've had 65 Auto-Lend loans in the last 25 days! In that time I've picked up a total of 248 loans and have left many other loans untouched.

    The loans are there, but I suspect retail investors aren't interested in many of them, and the wholesale investors are picking them up very quickly. I'd be interested in knowing what tools the wholesale investors have to pick up the loans that they do, so quickly. I suspect it's a variation of the Auto-Lend facility the retail investors have, but only 'kicks' in once the loans hit the marketplace. Some small portion is no doubt pushed through to ensure fairness (as clearly stated by Harmoney), but I very much doubt its anything like what some have/are suggesting...if you consider the numbers in the bigger picture.

  4. #2074
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    Quote Originally Posted by myles View Post
    NO! Retail investors do not Auto-Lend (match) 100% of loans! So Harmoney aren't "cutting off" at 25% or, I suspect, anywhere near it.

    I've got a fairly "open" Auto-Lend criteria and it doesn't come close to matching 25% of the loans that go through...

    I've had 65 Auto-Lend loans in the last 25 days! In that time I've picked up a total of 248 loans and have left many other loans untouched.

    The loans are there, but I suspect retail investors aren't interested in many of them, and the wholesale investors are picking them up very quickly. I'd be interested in knowing what tools the wholesale investors have to pick up the loans that they do, so quickly. I suspect it's a variation of the Auto-Lend facility the retail investors have, but only 'kicks' in once the loans hit the marketplace. Some small portion is no doubt pushed through to ensure fairness (as clearly stated by Harmoney), but I very much doubt its anything like what some have/are suggesting...if you consider the numbers in the bigger picture.
    Wholesale investors have no 'filter'. Their funds are invested into the platform's loans.

  5. #2075
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    Quote Originally Posted by Investor View Post
    Wholesale investors have no 'filter'. Their funds are invested into the platform's loans.
    There must be some form of allocation similar to Auto-Lend, even if they don't set a criteria for what they get?

    I wonder if there is some form of 'time' based function that holds a loan (after Auto-Lend) in the market place before it's all allocated to Wholesale investors, otherwise they would disappear straight away. That, or it's simply a matter of some portion of whole loans being allocated to Retail and the rest to Wholesale? Possibly based on history of what Retail are buying into and the 'risk'...?

    You'd have to monitor all loans showing up in a 24 hour period and compare that to the total number of loans for that 24 hour period, which is provided, to get any sort of picture of how it works, and it's likely to change over time anyway and some loans never get to the marketplace. Too many missing pieces...

  6. #2076
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    There is a lot of supposition going on here at the moment.

  7. #2077
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    Quote Originally Posted by permutation View Post
    There is a lot of supposition going on here at the moment.
    The information I posted is based on communication directly from Harmoney.

  8. #2078
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    Quote Originally Posted by Investor View Post
    The information I posted is based on communication directly from Harmoney.
    I was told directly from Harmoney that Wholesale investors aren't involved in any retail loans.

  9. #2079
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    From Harmoney Disclosure Statement:

    Wholesale Investors may participate in funding loans similar to any other
    Investor using the Harmoney service, and they may also fund entire loans.

    Both retail and wholesale Investors can participate in loans originated on the Harmoney
    platform. Wholesale Investors may participate in funding both fractionalised and whole
    loans, and retail Investors in fractionalised loans only.

  10. #2080
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    From Harmoney Investors Agreement:

    A Wholesale Investor:
    ...


    (b) will be allocated Loans to fund by Harmoney from the pool of Loans
    available to be funded, and will not be entitled to select any specific Loans
    (but can select investment criteria within which Loans are able to be
    allocated by Harmoney to that Wholesale Investor); and

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