Harmoney

[toast2success]

I had a breif look over their site and have a question ...how do you get your money back into your hand ? i.e not just into your Harmoney account but how do you as the investor withdraw your money from Harmoney ? Do they impose any restrictions on when and how this may be done ?

[777]

I had a breif look over their site and have a question ...how do you get your money back into your hand ? i.e not just into your Harmoney account but how do you as the investor withdraw your money from Harmoney ? Do they impose any restrictions on when and how this may be done ?

There is a "withdraw funds" button.

[777]

I'm planning to. I emailed them, and they promptly returned a detailed activity report for the FY15.

Yes I got the same.

[luigi]

Interesting study that might be useful when looking at loan applications on Harmoney.

"The words people use say a lot about their personalities, emotions, and thinking. And the ones they use when asking to borrow money, it turns out, also says a lot about whether they are likely to pay others back."

http://qz.com/420576/the-words-peopl...-pay-you-back/

[winner69]

Interesting study that might be useful when looking at loan applications on Harmoney.

"The words people use say a lot about their personalities, emotions, and thinking. And the ones they use when asking to borrow money, it turns out, also says a lot about whether they are likely to pay others back."

http://qz.com/420576/the-words-peopl...-pay-you-back/

Hi luigi

Thanks for posting that. Very interesting

Bless you mate

[kiora]

A Study:Pretty good returns so far
http://www.interest.co.nz/personal-f...experiment-and

[Harvey Specter]

A Study:Pretty good returns so far
http://www.interest.co.nz/personal-f...experiment-and

She really is doing it wrong. Mistakes:

- depositing all up front, not drip feeding in
- not going in every day to review the new loans

I dont remember the graph at the bottom of this page before: https://www.harmoney.com/investors/loan-performance

Basically more than half of the defaults are expected to occur in the first 10 months which agrees with this : http://www.lendacademy.com/the-diffe...ns-on-prosper/

Most of my investing was done 10 months ago, most towards the higher risk end (though one was a B3!) and I have had less than 2% default. If I double this and take if off the forecast return, I should be earning over 15% which is quite good.

[Harvey Specter]

Is anyone else seeing their amount in arrears increasing compared to normal? Will need to do some calcs to see if it is an increase or just because my loan balance is increasing (appears to be the former but haven't confirmed).

Have notice a lot more refinancing coming though in the loans (ie. paying off an existing Harmoney loan and adding a few more $ into a new loan). Good payment histories but doens't give a good impression if you are having budgeting issues that early on in a loan.

Still having issues with the login - they should have been able to sort it out by now.

[newtrader]

The refinancing/rewriting is concerning as in investor as the principal is released back to me (less service fees); needing to reinvest again or risk a large balance of funds building up and earning no interest.

They have been operating for almost a 1 year now, Harmoney should start releasing some performance information so investors can see how they are tracking compared to their forecast defaults.

Is anyone else seeing their amount in arrears increasing compared to normal? Will need to do some calcs to see if it is an increase or just because my loan balance is increasing (appears to be the former but haven't confirmed).

Have notice a lot more refinancing coming though in the loans (ie. paying off an existing Harmoney loan and adding a few more $ into a new loan). Good payment histories but doens't give a good impression if you are having budgeting issues that early on in a loan.

Still having issues with the login - they should have been able to sort it out by now.

[Harvey Specter]

The refinancing/rewriting is concerning as in investor as the principal is released back to me (less service fees); needing to reinvest again or risk a large balance of funds building up and earning no interest.

They have been operating for almost a 1 year now, Harmoney should start releasing some performance information so investors can see how they are tracking compared to their forecast defaults.

Started in September-ish so not a full year yet. Would be good to see some stats. In the US, they expect most defaults to be in the first 10m of the loan so old loans should be more stable now.