Harmoney

[Cool Bear]

Is the low volume of retail loans on Harmoney typical of this time of year, or is this much slower than normal? I've been sort of busy at work, so haven't been able to reinvest much, since everytime I check there are either no loans, or only rubbish I wouldn't go near.

It is very much reduced.

The number of loans I invested in for one of my pooled fund:
Jan2018 520 loans vs Jan2019 79 loans
Feb2018 408 loans vs Feb2019 54 loans

[beacon]

It is very much reduced.

The number of loans I invested in for one of my pooled fund:
Jan2018 520 loans vs Jan2019 79 loans
Feb2018 408 loans vs Feb2019 54 loans

My numbers are smaller than yours Cool Bear, but I have also only done roughly 10% of the volume this Feb as compared to Feb last year. My January volume was also roughly 20% of my Jan numbers last year.
So, definitely a big shift in loan volume away from retail lenders to institutional lenders recently, regardless of whether the loan volume lifted or fell overall due to seasonality.

Securitization is definitely an innovation whose time seems to have come in New Zealand. Although I read today that "In Australia, a $120 mln residential mortgage bond made up of Suncorp mortgages suffered defaults to a trigger level where investors may not get all their money back. It is being described as a 'canary' moment." And Harmoney loans aren't even secured, but kudos for this are due to Harmoney nevertheless.