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20-09-2019, 10:48 AM
#4371
Originally Posted by BJ1
I have seen many fewer loans which meet my criteria and notice that I am not seeing many of the loans which are being included in the daily statistics - most of the 36 month and smaller size loans don't appear in my searches. Having experienced 5 decades of lending and 4 major market corrections, I will not chase returns by taking greater risk - which I am seeing other people doing ...
Ditto BJ1. Due to both diminishing loan quantity and quality available to retail investors now, I for one, have continued my withdrawals. Just under half my peak investment has been cashed out now.
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20-09-2019, 11:21 AM
#4372
Originally Posted by beacon
Ditto BJ1. Due to both diminishing loan quantity and quality available to retail investors now, I for one, have continued my withdrawals. Just under half my peak investment has been cashed out now.
There seems to be a conflict between the P2P aspect and the traditional finance company aspect. Shouldn't Harmoney be either the one or the other? It seems the temptation is for Harmoney to favour its big corporate lenders?
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22-09-2019, 08:56 AM
#4373
yeah, nah
A very, very interesting podcast (transcript also available) of the ins and outs of Harmoney:
Podcast 216: Neil Roberts and David Stevens of Harmoney
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22-09-2019, 11:32 AM
#4374
Member
Yes Myles. Some definite avoidance around the question of exiting the peer part of the business. They are there to make money for themselves and will continue to expand their funding bases to be owner lenders, not P2P.
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22-09-2019, 12:44 PM
#4375
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24-09-2019, 09:08 AM
#4376
Member
"we've been slowly operating a pivot and moving to lending our ownmoney which we started to do December last year and we're rapidly, you know, picking that sideof our business up because the regulations, particularly in New Zealand are such that we don'tsee a viable model for us doing peer-to-peer lending way into the future and we are sort ofmanaging that and have been for some time"
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26-09-2019, 03:12 PM
#4377
Member
Bit more information from today's Interest.co.nz article; https://www.interest.co.nz/personal-...ember-2014-has.
If they complete the capital raise, could that money be used to buy out existing retail investor loans?
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26-09-2019, 07:15 PM
#4378
Member
Originally Posted by PennyPicker
An extra $30m of equity would surely be way too little.
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27-09-2019, 08:11 AM
#4379
More written at interest.co.nz this morning including comments from Squirrel & Lending Crowd....
https://www.interest.co.nz/business/...eres-no-viable
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27-09-2019, 11:09 AM
#4380
I think Harmoney got greedy, and strayed out of its permit scope too much by increasingly listening to and trying cater to the instos alone - in the end even at the cost of its "retail" peers. It isn't graceful to blame regulations for your own follies. And by playing the blame game, one misses the opportunity to learn from one's mistakes...
P2P will survive in NZ, with or without Harmoney. Thanks to the efforts and vigilance of ComCom and FMA etc., P2P in NZ is in much better shape than in some of the other countries around the world.
If Harmoney quits, other fintechs will pick up the slack and grow and evolve, and newer players will come - even in a small market like NZ, because the Aussie Banking cartel simply won't change its ways here. It is for Harmoney to decide whether it wants to play by the P2P rules or not, if it wants to play in the P2P space.
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