Harmoney

[kiwi_on_OE]

16.89%, mostly B-D with some E, A and F.

1 default (an E2) out of ~140 notes invested so far

RAR less than platform RAR from a spread of loans across all grades, but skewed to the better grades. Have only been going a few months and hoping that it will increase. But just had a write-off so RAR will be going down. Remaining amount written off a month after first/last payment. Not sure what that says about the borrower; Harmoney's assessment of the borrower; Harmoney's process of attempting to recover the money from the borrower.

It does seem to be consistent with my fear that Harmoney don't have any great incentive to try particularly hard to recover the loans in default.

[WingingIt]

It does seem to be consistent with my fear that Harmoney don't have any great incentive to try particularly hard to recover the loans in default.

If its going to cost them more than 1.25% of the loan amount to try collect some money then I guess they don't really care?

I emailed in with a specific question to what was being done about a charged off loan, loan that was used to buy a new car, and just got a standard copy and paste reply from their FAQ's. I;d already read that and wanted more detail.

[Monica@Harmoney]

NB: Harmoney login is currently down for some of our investors. Our apologies for any inconvenience - we are working to fix this asap. Monica

[Knot]

Hi Monica,

Thanks for letting us know. I was wondering what was going on.

[Monica@Harmoney]

NB: Harmoney login is currently down for some of our investors. Our apologies for any inconvenience - we are working to fix this asap. Monica

Harmoney login is back up and running. Thanks for your patience. Monica

[Monica@Harmoney]

If its going to cost them more than 1.25% of the loan amount to try collect some money then I guess they don't really care?

I emailed in with a specific question to what was being done about a charged off loan, loan that was used to buy a new car, and just got a standard copy and paste reply from their FAQ's. I;d already read that and wanted more detail.

Please email me offline monica.mathis@harmoney.co.nz should you have any questions regarding a specific loan. I will reiterate that Harmoney's collection process is a robust one and that can be seen in our market statistics page where if you scroll down, our arrears results are much better than forecast across all grades. Any specific questions regarding this, please email me offline. Monica

[Darchie]

Just went into check my Orders today and see that my last order on 24th March, plus all those on 25th & 26th that I submitted. Totalling14 notes ... but only 5 of these have been issued. I ask are there other lenders out there where this is similar or am I an issolated case.
Basically all since those have been issued just fine! Just seems a bit weird!

[Jinx]

Just went into check my Orders today and see that my last order on 24th March, plus all those on 25th & 26th that I submitted. Totalling14 notes ... but only 5 of these have been issued. I ask are there other lenders out there where this is similar or am I an issolated case.
Basically all since those have been issued just fine! Just seems a bit weird!

I submitted a total of 4 orders (on the: 21st, 22nd, 2nd, 2nd) for a total of 13 notes and all have been issued. Maybe just an unlucky case?

[Knot]

I had a couple over Easter weekend that were refunded. No status update on the application as yet.

[Saamee]

I had a couple over Easter weekend that were refunded. No status update on the application as yet.

Here also... 7 orders over the Easter weekend were cancelled. I called the Fiji support centre and was informed that the HM system was too slow at updating notes purchased - and therefore many notes were over subscribed. I do remember some of the 7 notes I invested in were only like 65% full when I purchased!

It has not happened again since the Easter weekend. ( only the login issue later last week )