Harmoney

[leesal]

I logged in this morning to check if the status on that loan had changed, and discovered something interesting. On the mobile version of the interface there are a couple of other loans with interesting statuses. Like one with "current (61-90)" and current (31-60) and sure enough, last payment in April for both loans. On the fullsize interface those loans simply show as current. So apparently current can mean anything from actually current to we're about to charge it off.

I think Harmoney needs to sort their systems out pronto.

From experience I'd say just different "Categories" of credit control

Borrowers are able to vary the terms if they suffer "unforseen financial hardship" through a formal application. HM would also no doubt vary terms on a case-to-case basis as part of their collection process.

Therefore I'd read "Current (61-90)" - to mean that collections have been renegotiated, so borrower is on track with payments, but from a lender perspective client remains 2 months behind.

[Vagabond47]

From experience I'd say just different "Categories" of credit control

Borrowers are able to vary the terms if they suffer "unforseen financial hardship" through a formal application. HM would also no doubt vary terms on a case-to-case basis as part of their collection process.

Therefore I'd read "Current (61-90)" - to mean that collections have been renegotiated, so borrower is on track with payments, but from a lender perspective client remains 2 months behind.

1) if its been renegotiated in some way we should know.. perhaps a status of "credit control" or "impaired" or "under supervision"
2) last payment April.. if they've renegotiated for a temporary reduction in payments there should at least one smaller payment more recently than April.

[BJ1]

Over the past 2 years I've queried quite a number of loans recorded as current but actually in arrears by my reckoning and every time the response has been to change the status to in arrears. There is definitely a problem with recording of status.

[whitt]

MARKET STAT UPDATE:

-Autolend graph in market stats now confirms the recent rapid decline on matches and funding using this feature
-Retail Vs Institutional funding graph also shows a recent spike in loan % being given to wholesale sector. Currently sitting at 85% where as previous it had averaged 75%

Looks like its slim picking for future Autolend matches until the market improves significantly or Harmoney edit the lending % ratio away from Wholesale sector.

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[johna]

This is ridiculous, there are just no loans available?

[humvee]

This is ridiculous, there are just no loans available?

I haven't had a single auto lend loan purchased for over a month, and at all times I have had 2k-3k+ sitting idle

But there is really odd stuff happening

Eg Today there were 2 loans on the market place both of which matched my auto lend rules perfectly - and searching with my auto lend filter confirmed this, But auto lend did not invest

I then Manually invested in both LAI*00131746 & LAI*00131744 - The loans then sat on the market place for several hours before they were filled.

It seems like a case of there are not enough loans - and at the same time not enough investors( to fill a loan while investors suitably diversify / fractionalize )

LAI*00131744 D5 26.49% 60 2.6% $24,125 Business Cash Flow
LAI*00131746 C3 21.9% 60 0.56% $40,450 Debt Consolidation

[johna]

I haven't had a single auto lend loan purchased for over a month, and at all times I have had 2k-3k+ sitting idle

But there is really odd stuff happening

Eg Today there were 2 loans on the market place both of which matched my auto lend rules perfectly - and searching with my auto lend filter confirmed this, But auto lend did not invest

I then Manually invested in both LAI*00131746 & LAI*00131744 - The loans then sat on the market place for several hours before they were filled.

It seems like a case of there are not enough loans - and at the same time not enough investors( to fill a loan while investors suitably diversify / fractionalize )

LAI*00131744 D5 26.49% 60 2.6% $24,125 Business Cash Flow
LAI*00131746 C3 21.9% 60 0.56% $40,450 Debt Consolidation

That's curious! What time were they on the marketplace? I've logged on several times today and never seen a loan available at all.

[humvee]

That's curious! What time were they on the marketplace? I've logged on several times today and never seen a loan available at all.

Not sure exact time - Mid morning

[humvee]

Not sure exact time - Mid morning

There is another there at the moment -

LAI*00131775 - doesnt meet my requirements though - judging by the fact it only has 13 days left I would say it has been there since some time last night

[myles]

Market place summary fixed perhaps:

Activity LAST 24 HRS 7 NEW LOANS $190,000 FULLY FUNDED LOAN AMOUNT