Harmoney

[permutation]

I'm a fan but would prefer a complete set of filters eg Defaults and Enquiries. I still read a few of the stories to get a feeling of the general level of quality of applications though of course this is a bit hit and miss. I am sticking with the old lending limits for now.

I don't think I have ever seen a default other than 0 on listed loans. Enquiries yes 1 to 5, I generally prefer 1 to 3 for enquiries. But for me over the last 19 months lending, the disaster has been E and F grades, which I did take in the first few months as a novice. 700+ loans now and my latest stats just a week or so ago was 9 of 11 loans that were written off were E and F grades.

I will never take those grades again because for me there is too much risk, which takes the net return backwards.

So far I have had about 45 auto loans specifically A5 to D2 max. The profile stats are not to bad and I am quite happy with those.

One filter that I would like introduced by Harmoney is one that I have named "RvIR" (Repayment vs Income Ratio) I always make a mental note of this ratio.

I reject generally any listed loan that has an RvIR of more than about 16%. Thankfully most of my Auto-Loan RvIR's were less than 20%. Probably resulting from the very strict filter options I have in place.

I have explained in earlier posts about the criteria I use for lending.