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27-07-2017, 04:33 PM
#2451
Investor
Risk comparison from https://www.harmoney.co.nz/investors/investment-risks
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27-07-2017, 05:13 PM
#2452
Member
Maybe its time if you have Autolend setup to change your criteria?
Previous c grade won't align with new grading so your criteria for Autolend might be wrong
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27-07-2017, 05:45 PM
#2453
yeah, nah
![Quote](images/misc/quote_icon.png) Originally Posted by Darchie
Well I reckon it's got to be a very good time to unwind, as the rewrites will truck along like nothing we've seen before!
Could be the biggest worry.
![Quote](images/misc/quote_icon.png) Originally Posted by Harmoney
How will the changes affect Rewrites?
All loan re-writes that are applied for on or after 3 August 2017 will be subject to the new interest rates and loan limits.
I guess we'll just have to wait and see if there is an overall reduction in interest rate in 1.5 that is worth the move for borrowers - $500 fee would slow most down you would hope?
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27-07-2017, 05:54 PM
#2454
yeah, nah
An updated Hazard Curve:
hazard-curve-jul-2017-941x419.jpg
Looks like the risk of a default can drag out longer than previously suggested.
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27-07-2017, 06:03 PM
#2455
Member
![Quote](images/misc/quote_icon.png) Originally Posted by whitt
Maybe its time if you have Autolend setup to change your criteria?
Previous c grade won't align with new grading so your criteria for Autolend might be wrong
Have you read all the detail about it?
Harmoney will deactivate Auto-Lend on all accounts on 03 August, then people can review their settings to what suits and then re-enable Auto-Lend.
Last edited by permutation; 27-07-2017 at 06:10 PM.
Reason: spelling
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27-07-2017, 06:07 PM
#2456
Member
My primary problem with Harmoney has been the lending volume, so hopefully this corrects the problem. I would take a hit of 2-3% on my RAR if it significantly improved the number of loans available, as the yield would still be better than most other options.
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27-07-2017, 06:30 PM
#2457
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27-07-2017, 06:32 PM
#2458
Member
Really? I've managed to invest well over 100k within the last 12 mths, didn't find it difficult at all, probably could have doubled that..
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27-07-2017, 06:46 PM
#2459
Member
![Quote](images/misc/quote_icon.png) Originally Posted by Fisherking
Really? I've managed to invest well over 100k within the last 12 mths, didn't find it difficult at all, probably could have doubled that..
Same here - around Christmas I was struggling to find enough loans without putting too much in each but it has been months since I have put more than $25 into an individual loan - that is with over $60k invested.
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27-07-2017, 07:17 PM
#2460
Member
Happy to meet the market but the supporting material is a bit puzzling to me on first read. I don't see how reduced risk of default could account for a reduction from 9.99% to 6.99%. What I would like to see is a table of old and new rates side by side. Goodness knows why that wasn't included in the email. Smacks of PR not openess. Personally I would rather be given the economic realities not spin. Stated 0.6% reduction in RAR doesn't feel right.
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