Harmoney

[Investor]

http://i.imgur.com/gL7jUBC.png

[whitt]

Maybe its time if you have Autolend setup to change your criteria?
Previous c grade won't align with new grading so your criteria for Autolend might be wrong

[myles]

Well I reckon it's got to be a very good time to unwind, as the rewrites will truck along like nothing we've seen before!

Could be the biggest worry.

How will the changes affect Rewrites?
All loan re-writes that are applied for on or after 3 August 2017 will be subject to the new interest rates and loan limits.

I guess we'll just have to wait and see if there is an overall reduction in interest rate in 1.5 that is worth the move for borrowers - $500 fee would slow most down you would hope?

[myles]

An updated Hazard Curve:

hazard-curve-jul-2017-941x419.jpg

Looks like the risk of a default can drag out longer than previously suggested.

[permutation]

Maybe its time if you have Autolend setup to change your criteria?
Previous c grade won't align with new grading so your criteria for Autolend might be wrong

Have you read all the detail about it?
Harmoney will deactivate Auto-Lend on all accounts on 03 August, then people can review their settings to what suits and then re-enable Auto-Lend.

[CageyB]

My primary problem with Harmoney has been the lending volume, so hopefully this corrects the problem. I would take a hit of 2-3% on my RAR if it significantly improved the number of loans available, as the yield would still be better than most other options.

[Fisherking]

This is going to significantly impact returns and offers no benefit whatsoever to the lender. really unhappy with this sudden call and will reconsider my future with Harmoney on the back of this one.

[Fisherking]

Really? I've managed to invest well over 100k within the last 12 mths, didn't find it difficult at all, probably could have doubled that..

[Art]

Really? I've managed to invest well over 100k within the last 12 mths, didn't find it difficult at all, probably could have doubled that..

Same here - around Christmas I was struggling to find enough loans without putting too much in each but it has been months since I have put more than $25 into an individual loan - that is with over $60k invested.

[RMJH]

Happy to meet the market but the supporting material is a bit puzzling to me on first read. I don't see how reduced risk of default could account for a reduction from 9.99% to 6.99%. What I would like to see is a table of old and new rates side by side. Goodness knows why that wasn't included in the email. Smacks of PR not openess. Personally I would rather be given the economic realities not spin. Stated 0.6% reduction in RAR doesn't feel right.