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19-06-2017, 09:06 AM
#2291
Member
Interesting to note the platform RAR for public has been steadily falling last few months. But the wholesale RAR has been stable.
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19-06-2017, 09:39 AM
#2292
Member
Originally Posted by whitt
Interesting to note the platform RAR for public has been steadily falling last few months. But the wholesale RAR has been stable.
Fee changes working their way through?
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19-06-2017, 02:54 PM
#2293
Member
Originally Posted by permutation
Judging from your interest v Outstanding Principal you haven't been in very long?.
You have no Charge-offs yet!
Good luck with the E Grades.
Attachment 8917
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19-06-2017, 06:02 PM
#2294
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19-06-2017, 08:08 PM
#2295
Originally Posted by icyfire
Do you need a new car but can't afford it? No problem. Harmoney will give you a loan you don't have to pay back!
Screenshot_9.jpg
They made some repayment. If all the D5 grade loans at 30.24% were certain to be repaid in full, then no-one would invest in A1-D4 loans. Have the D5 grades underperformed expectations?
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20-06-2017, 08:26 AM
#2296
Member
Originally Posted by alistar_mid
So, 81704 made just the one correct payment before defaulting? And 2 others made no payments at all. Either you struck an unlucky streak or Harmoney did - pity it's you that carries the cost.
Last edited by BJ1; 20-06-2017 at 04:50 PM.
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20-06-2017, 12:32 PM
#2297
Member
Since the inception of auto lend I have monitored my defaults list.
I rarely get any with the magic wand icon ( auto lend) and when they do they are normally only 1 to 30 days old then dissappear.
It will be interesting to fast forward a further few months to see if my Autolend rules are working. From looking at stats most arrears occur up to the 9/10 month mark and loans after that date seem to have fewer defaults.
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20-06-2017, 06:16 PM
#2298
yeah, nah
Three Months in:
Invested: $88,375.00
Loans: 967
Avg. Loan Size: $91.39
Auto-Lends: 288
Avg. Interest: 22.77% (Weighted)
Avg. Exp. Return: 15.73% (Weighted less Default+Fees+Tax)
Expected Monthly Return to deal with: $2,410.86 (Principal + Interest : excludes payoffs)
XIRR.: 17.18% (stable - see graph)
Interest Paid to date: $1,299.00
Another week or two and I should be all in for $100K.
Current default write off $95.83 (I write off at 60+days - two $50 loans, a D4 and an E3).
chart-risk.png chart-term.png
Split and term.
chart-risk-grade.png
Detailed risk grades - I've dropped off B3 from my Auto-Lend criteria to bring it down - not sure if this is a result of volume of B3's or some bias on Auto-Lend or me...
chart-xirr.png
Interesting XIRR chart over time, clearly shows why RAR is not provided until after 90 days. I'm just past 90 days now - shouldn't be to far away from getting one from Harmoney.
I'm working on a loss of 2% pa due to defaults (a little higher than what I expect it to be). Will be interesting to see how that goes...
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20-06-2017, 11:47 PM
#2299
Junior Member
Myles, been watching your posts since you started and I must say good luck on your Investing.
You have been investing for three months and you already have 3 write offs. Doesn't that ring alarm bells?
I have been investing in Harmoney for a few years now but since they changed the limits the quality of the loans have fallen drastically
Here's a prime example from tonights listing,. Why anybody would invest in this is beyond me. Only paid 4 instalments and then Harmoney allows a rewrite for more debt with a very small monthly income.Screen Shot 2017-06-20 at 11.21.05 PM.jpg
I have a set of rules for most grades that I had from the start and use to get 5 to 10 loans a day a year ago. Now with the same rules now I would be lucky to get 5 a week. That says to me there is something inherently wrong with Harmoneys objectives now. Remember the only one loosing money on Defaults are the investors. They rant on about how good there "risk management" is but it certainly not good since the increase in lending limits.
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21-06-2017, 07:28 AM
#2300
Member
I have been investing with Harmoney for about 18 months but 80% of my balance was invested in the period July - Sept last year. Monthly charge off's were good and under theoretical (based on Harmoney estimates) until February this year. My charge off budget for the 2017/18 financial year is $955. So far, just under three months into the year, I am sitting on $636 charge offs this year - me thinks my budget will be well and truly blown!
Those loans that do make it through the next twelve months without defaulting or being repaid, if the graph on the Harmoney site is correct, should help give me a better result next year, but as we all know, most loans do not run anywhere near full term.
I agree with you Snow12 about a distinct decline in borrower quality - I don't remember seeing many (if any) A's or B's whether the borrower was renting before, now this seems commonplace and often for large loans.
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