Harmoney

[Soolaimon]

This person has a good question.
Several of you guys have been using Harmoney for some time now. What is some good strategies?
What has worked well so far?
Any good rules you have found when using Harmoney?

I have been investing now for 11 months, I started with 1 or 2 notes per loan, now I invest 6 per loan. Reason being that it becomes quite a lot of work re-investing paid off loans and if one stuck to 1s and 2s you would have a lot of loans and after a few months it would require constant attention to keep all your money "active". I have invested in 181 loans and 43 of them have been paid back in full, the return from these is not that good but still satisfactory. Harmoney advised me some months ago that the expected early payment of loans was 28%. Looks like that figure could be a bit light.
My strategy has been to concentrate on 36 month loans (95%) not too many A's or F's. Probably C and D loans weighted. Borrower's monthly payments must not exceed 10% of income. So far I have had no write offs, although there are a couple of arrears that are 2 months old. Going back to the first 2 months, I calculated a gross return of plus 16% on those loans, so if this continues one can stand a write off or two.
Over all, happy with them now that most off the bugs seem to be sorted on the website.

[beetills]

Had a letter this morning telling me that i could borrow up to 35k for a new car,
Pretty obvious to me that these letters must go out willy nilly as i have been unemployed/able for 12 months,so if i do take up the offer make sure you investors out there keep an eye out.

[unhuman]

This person has a good question.
Several of you guys have been using Harmoney for some time now. What is some good strategies?
What has worked well so far?
Any good rules you have found when using Harmoney?

I am weighted 90% in A & B loans.

So far I haven't had any paid off in full early and no defaults.

Things are just ticking along as they should.

I have stayed away from any loans I wouldn't take out myself, e.g. weddings, car loans etc.

Only debt consolidation, business loans, home improvements.

[Harvey Specter]

I am weighted 90% in A & B loans.

What is the quoted annualised return on that?

I think I have had 5 write offs from about 250 loans. about 40 in arrears and 50 paid off early. Annualised return is apparently over 20% but even after writeoffs, I am hoping for more than 15%. Note: of the write offs - a B, D E and 2 F's.

[unhuman]

13.18% according to the dashboard.

[Harvey Specter]

13.18% according to the dashboard.

Better than the bank.

[WingingIt]

Saw an article in the print edition of Dominion Post today about ComCom investigating Harmoney regarding their fees. Cant seem to find it online though

[winner69]

Saw an article in the print edition of Dominion Post today about ComCom investigating Harmoney regarding their fees. Cant seem to find it online though

http://www.stuff.co.nz/business/7091...sumer-watchdog

[whitt]

http://www.stuff.co.nz/business/7091...sumer-watchdog

The fees sound ok to me and quite reasonable.

[rsmckee]

been with Harmoney for a few months and have worked a A to D pattern to try and give me a net return (after tax and fees ) of 12 - 13 %.
Bit difficult as anything I have taken over 20% goes into arrears. Also fin it frustrating as I am trying to load over $250K and it takes ages.