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Thread: Harmoney

  1. #2271
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    Quote Originally Posted by BJ1 View Post
    I'm with you on this permutation. I've had four autolend loans totalling $400 out of 245 loans totalling $172,000. Of the four, one was repaid inside 6 months and two are constantly in and out of arrears. All were taken in October and December last year. I've decided that manual investing using a long developed lending background is best for me. And this month I had my first write-off: $285 on a $325 E2 taken out January 2016 which after I did it I wondered about the head space I was in at the time.
    Like you BJI, I will begin to exclusively use manual loan selection only in a very concentrated grade band based on my results from the last 25 months lending.
    My remaining A, E and F grades will vanish from my portfolio by attrition.

    My return is currently 232 pips above the platform RAR and I expect this to increase to 500-600 pips over the next 12 months to a RAR of 16.5 to 18%.

  2. #2272
    Advanced Member Entrep's Avatar
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    Manual loaning on Harmoney sounds like a heck of a lot of work to get your money all invested?

  3. #2273
    yeah, nah
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    Quote Originally Posted by Entrep View Post
    Manual loaning on Harmoney sounds like a heck of a lot of work to get your money all invested?
    It certainly can be particularly if you do the wise thing and invest small amounts in many loans.

    It becomes a risk/reward thing in the end. You might, as many are, be tempted to invest larger amounts in less loans on other platforms because they 'appear' to be safer. However, it only takes a single larger loan to default to cause a significant loss on your return.

    I'm pouring money into Harmoney at the moment with about 25% being picked up by Auto-Lend. At that rate, if I only relied on Auto-Lend, with my criteria, it would be around $6000 per month (with some money sitting in Funds Available to drive it). Not sure how that will go when I reach my initial goal of 100K and pause.

  4. #2274
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    Quote Originally Posted by myles View Post
    It becomes a risk/reward thing in the end. You might, as many are, be tempted to invest larger amounts in less loans on other platforms because they 'appear' to be safer. However, it only takes a single larger loan to default to cause a significant loss on your return.
    Got it in one. Wouldn't be doing it without the security/investor pools though.

  5. #2275
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    [QUOTE=My return is currently 232 pips above the platform RAR and I expect this to increase to 500-600 pips over the next 12 months to a RAR of 16.5 to 18%.[/QUOTE]
    Given that RAR is cumulative from day one on the platform, it's very difficult to move it significantly after the first two years. To move it from around 14.1% today to 17% in 12 months needs the average return over the next 12 months, after fees and defaults, to be 22.8% which can't be done without a very heavy weighting to D grade loans. Personally, I ignore harmony's RAR and look only to what my current year projection indicates -15.6% against RAR to date of 13.66%

  6. #2276
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    P2P lending decision on Harmoney – ComCom questions struck out

    https://minterellison.co.nz/our-view...ons-struck-out

  7. #2277
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    TSB Bank reveals it has lent $50M via Harmoney....

    http://www.interest.co.nz/business/8...ugh-p2p-lender

  8. #2278
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    Wholesale RAR seems to have been trending down over the last couple of months while Retail seems to be holding steady. I wonder what is causing this https://www.harmoney.co.nz/investors...ace-statistics

  9. #2279
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    Quote Originally Posted by Wsp View Post
    Wholesale RAR seems to have been trending down over the last couple of months while Retail seems to be holding steady. I wonder what is causing this https://www.harmoney.co.nz/investors...ace-statistics
    Seems to start dropping from October 2016. Could be an increase in their (different) fees or a change in mandate from those investors to go for lower risk? Or the effect of their performance fees paid to Harmoney? Interestingly, it is also about the same time that payment protect was started.

  10. #2280
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    Why would anyone with a freehold home (i.e no mortgage) not borrow against their house from the bank who offer such low-interest rates? Also, what would be the minimum mortgage amount that banks offer?
    Screenshot_8.jpg

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