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Thread: Harmoney

  1. #501
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    Comment on the other P2P companies seems to have dried up on this forum. Only Harmoney is getting regular input. Any thoughts why?

  2. #502
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    Quote Originally Posted by mlt322 View Post
    Comment on the other P2P companies seems to have dried up on this forum. Only Harmoney is getting regular input. Any thoughts why?
    Much fewer borrowers and investors on other platforms? I tried putting $500 into Squirrel but couldn't get it invested, and it constantly shows $0 loans waiting to be funded. So I'll be sticking with Harmoney where I can get my money invested fairly quickly.

  3. #503
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    Quote Originally Posted by mlt322 View Post
    Comment on the other P2P companies seems to have dried up on this forum. Only Harmoney is getting regular input. Any thoughts why?
    No news is good news IMO.

    Other than Harmoney I'm also with Squirrel and honestly there isn't much to talk about.

    Because the loans are much greater in size than Harmoney I only get a handful of payments each month and due to the reserve fund, they predicatably come in on time each month.

    There aren't any risk grades / defaults / double up on fees due to rewrites which is what the majority of discussion re Harmoney is about.

    It just ticks along in the background without any input from myself.
    Last edited by unhuman; 12-02-2016 at 12:57 PM.

  4. #504
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    That's interesting Finite ... are you able to pinpoit the approx time frame this late fee payment disappeared?

  5. #505
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    Quote Originally Posted by Darchie View Post
    That's interesting Finite ... are you able to pinpoit the approx time frame this late fee payment disappeared?
    I had a very small late payment fee credited to my account back in Oct 2014 and nothing since.
    Soolaimon

  6. #506
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    Quote Originally Posted by Darchie View Post
    That's interesting Finite ... are you able to pinpoit the approx time frame this late fee payment disappeared?
    Email from Mark Bardi October 2015
    "Yes, we stopped charging borrowers late fees quite a few months ago because the system wasn't working the way we had intended.

    We may charge fees again in the future, although we may decide to allocate them to help cover collections costs."

  7. #507
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    OMG .... Not what one could call! 'Full Disclosure' Open & honest & all that!
    Harmoney currently have market share, did pay to be first out of the gates, but as others get their momentum up and mature a little, I'm hoping they'll be good alternatives. It is healthy to have a selection of opposition - hopefully it'll keep them all on their toes! Would hate any cartelling!
    However I do get a little bit more of a feel Harmoney is 'Starting' to take a slither more notice of their investors, but then again - I suppose it would save a lot of work for them, if they ensured they pissed off the vast majority of their fractionalised investors, & had most of the loans hoovered up by hearland & the likes!

  8. #508
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    Quote Originally Posted by Darchie View Post
    OMG ..., but then again - I suppose it would save a lot of work for them, if they ensured they pissed off the vast majority of their fractionalised investors, & had most of the loans hoovered up by hearland & the likes!
    Probably is their strategy ......but need to have a few (fractionalised) investors so they can call themselves Peer to Peer lenders.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  9. #509
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    Have just calculated what I consider the true service fee on my account (fee as a percentage of gross interest received) and find it at 5.86%. Those re-writes certainly make the stated fee of 1.25% unrealistic.

  10. #510
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    Quote Originally Posted by mlt322 View Post
    Have just calculated what I consider the true service fee on my account (fee as a percentage of gross interest received) and find it at 5.86%. Those re-writes certainly make the stated fee of 1.25% unrealistic.
    The service fee was never meant to be as %age of gross interest.
    It has always been a %age of gross interest AND capital repayments.

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