Harmoney

[Knot]

Forecast 13%... Platform is currently 11.83, made up for retail at the old rate, institutional mostly at the old rate and some at the new rate. Add to that that institutional investors will be at the lowest fee rate and us retail investors are going to see sub 10% IMHO (no stats to back this up, just a quick mental calculation)

[Darchie]

No matter how i run my calculator over this it seems Ugly ... Harmoney have gone underground whereas they should be giving us better examples .... i hope it won't be a case of RIP .... have they really REALLY. Thought this out well enough?

[777]

No matter how i run my calculator over this it seems Ugly ... Harmoney have gone underground whereas they should be giving us better examples .... i hope it won't be a case of RIP .... have they really REALLY. Thought this out well enough?

Oh but they have been watching this thread.

[Harvey Specter]

Hi Harvey,

You do realize the 'issues' you may have with Harmoney are more than likely going to be different than my 'issues' with Harmoney - We are people and all different!

I also include 'personal contact' as a direct Email to me!

True. An automated email does fit my internet based, low cost model. It would have to be opt out/in as I dont think I would want an email everytime a loan went overdue.

Maybe they just need to start a new classification for bad debts so we can see the reason (fraud, bankruptcy, MIA, gone overseas, etc), (which could be emailed to you), but does that really help you??? All I/we need is an assurance they are doing their best to recover.

[nztyke]

For what it's worth I calculate that if the new structure had been in place for the whole period that I have been invested my pre tax return would have reduced from 12.13% to 11.20%

[luigi]

True. An automated email does fit my internet based, low cost model. It would have to be opt out/in as I dont think I would want an email everytime a loan went overdue.

Maybe they just need to start a new classification for bad debts so we can see the reason (fraud, bankruptcy, MIA, gone overseas, etc), (which could be emailed to you), but does that really help you??? All I/we need is an assurance they are doing their best to recover.

Better reporting on it would be good to the extent that it can help choose future loans. I can't see the point of an email... loan goes overdue/defaults, you get an email - what are you going to do about it?

[Saamee]

Better reporting on it would be good to the extent that it can help choose future loans. I can't see the point of an email... loan goes overdue/defaults, you get an email - what are you going to do about it?

For me personally.... It's all about Harmoney offering a 'Pro-Active' level of customer Service.


Not Re-Active - Where if I log in once a week I may stumble across perhaps 3 loans written off.


Rgds

[humvee]

For what it's worth I calculate that if the new structure had been in place for the whole period that I have been invested my pre tax return would have reduced from 12.13% to 11.20%

Would you mind pasting your risk grade and term graphs. I suspect if your graphs are like mine the difference will be bigger. How long have you been investing

graph.PNG

[Darchie]

Come on Harmoney give us some realistic upfront examples ... at the moment all i can compare it to is LendingCrowd take 10% off Secured Loans ....
whereas you want 15% from me off Unsecured Loans ... various riskier grades do have a higher interest rate paid but a % fee is just that, it'll just be a larger amount taken.

[Harvey Specter]

My fees are currently just under 5% of interest received. So this will be a more than 3x increase. A very high level calculation that is probably wrong suggests my RAR would be 75% of current levels if the fee structure had been in place from the start so 13% x 0.75 = 9.75%. Thats getting close to the other platforms that provide higher levels of security which should do better in a down turn.

So did the originally price it wrong or was the initial total fee level bait and switch?