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16-01-2016, 09:04 AM
#411
Member
Originally Posted by Saamee
Are any other investors also witnessing the anticipated escalation in Xmas \ New Year arrears yet?
Just today ( Fri ) my accounts Arrears doubled from $55 to $110 outstanding in arrears.
The week just gone was the 1st full 5 day week without any Public Holidays.... So no exuses for delayed bank transfers - only borrowers with no money left in their bank accounts to honour their agreements to Harmoney ( and of course us Investors!! )
Mine is a little lower now then it was at some points over xmas new year. But higher then it was before Xmas.
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16-01-2016, 09:23 AM
#412
Member
The rewrites are getting earlier 1 Month !?!?!
1monthrewrite.JPG
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16-01-2016, 10:12 AM
#413
Originally Posted by humvee
That's taking the piss a bit.
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16-01-2016, 10:12 AM
#414
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16-01-2016, 11:50 AM
#415
Originally Posted by Saamee
Are any other investors also witnessing the anticipated escalation in Xmas \ New Year arrears yet?
Just today ( Fri ) my accounts Arrears doubled from $55 to $110 outstanding in arrears.
The week just gone was the 1st full 5 day week without any Public Holidays.... So no exuses for delayed bank transfers - only borrowers with no money left in their bank accounts to honour their agreements to Harmoney ( and of course us Investors!! )
Just to nit-pick, presumably the investors only have a contractual obligation with Harmoney... and Harmoney credits the investor according to the contract it has with the investor.
The Grade of loan you invest in my determine your level of Christmas period arrears...do you invest in low grade loans?
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16-01-2016, 02:50 PM
#416
Originally Posted by humvee
Hi Humvee,
Interesting data presented on that loan, the Harmoney monthly repayment the person is looking to make is 20% of their monthly income. That alone woudl stop me investing!. I wonder how long before their next rewrite? The cynic in me may ask 'Does Harmoney get the borrower to quickly sign up, at the same time as saying. don't worry we will upgrade your loan immediatley after it is finalized".....
Last edited by Saamee; 16-01-2016 at 03:19 PM.
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16-01-2016, 02:53 PM
#417
Originally Posted by Bjauck
Just to nit-pick, presumably the investors only have a contractual obligation with Harmoney... and Harmoney credits the investor according to the contract it has with the investor.
The Grade of loan you invest in my determine your level of Christmas period arrears...do you invest in low grade loans?
Hi BJ,
Predominently B Grade's...... Persoanlly I choose to sacrifice a little less interest for hopefully a little better reliability of investor! Of course this does not always pay dividends ( or my Harmoney capital & interest back!! )
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16-01-2016, 08:13 PM
#418
Member
a little less interest for hopefully a little better reliability of investor! Of course this does not always pay dividends ( or my Harmoney capital & interest back!!
I've got 2 arrears and both are B rated. So much for more risk with the lower grades eh lol
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17-01-2016, 11:45 AM
#419
Originally Posted by Saamee
... Persoanlly I choose to sacrifice a little less interest for hopefully a little better reliability of investor! Of course this does not always pay dividends ( or my Harmoney capital & interest back!! )
Originally Posted by mlt322
I've got 2 arrears and both are B rated. So much for more risk with the lower grades eh lol
At least they are not charge-offs atm!
I see on https://www.harmoney.co.nz/investors...ace-statistics that Harmoney are reporting that actual defaults for every grade of loan are less than those it was forecasting.
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17-01-2016, 01:40 PM
#420
Originally Posted by Bjauck
yet didn't they just increase the interest rates?
I think they have moved people into lower (better) grades. Things like income cover and years in job seem to have worsed across the grades. Eg. might previously have been a E grade loan but now a D grade.
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