Harmoney

[humvee]

Are any other investors also witnessing the anticipated escalation in Xmas \ New Year arrears yet?

Just today ( Fri ) my accounts Arrears doubled from $55 to $110 outstanding in arrears.

The week just gone was the 1st full 5 day week without any Public Holidays.... So no exuses for delayed bank transfers - only borrowers with no money left in their bank accounts to honour their agreements to Harmoney ( and of course us Investors!! )

Mine is a little lower now then it was at some points over xmas new year. But higher then it was before Xmas.

[humvee]

The rewrites are getting earlier 1 Month !?!?!

1monthrewrite.JPG

[Harvey Specter]

The rewrites are getting earlier 1 Month !?!?!

1monthrewrite.JPG

That's taking the piss a bit.

[permutation]

I reckon that the RAR should be updated daily.
It's all computerised; once you have a formula it should be updating real-time along with account balances etc.
Imagine if the NZX50 had all the share prices updating daily but they only published the index once a month.. Ridiculous

[Bjauck]

Are any other investors also witnessing the anticipated escalation in Xmas \ New Year arrears yet?

Just today ( Fri ) my accounts Arrears doubled from $55 to $110 outstanding in arrears.

The week just gone was the 1st full 5 day week without any Public Holidays.... So no exuses for delayed bank transfers - only borrowers with no money left in their bank accounts to honour their agreements to Harmoney ( and of course us Investors!! )

Just to nit-pick, presumably the investors only have a contractual obligation with Harmoney... and Harmoney credits the investor according to the contract it has with the investor.

The Grade of loan you invest in my determine your level of Christmas period arrears...do you invest in low grade loans?

[Saamee]

The rewrites are getting earlier 1 Month !?!?!

1monthrewrite.JPG

Hi Humvee,

Interesting data presented on that loan, the Harmoney monthly repayment the person is looking to make is 20% of their monthly income. That alone woudl stop me investing!. I wonder how long before their next rewrite? The cynic in me may ask 'Does Harmoney get the borrower to quickly sign up, at the same time as saying. don't worry we will upgrade your loan immediatley after it is finalized".....

[Saamee]

Just to nit-pick, presumably the investors only have a contractual obligation with Harmoney... and Harmoney credits the investor according to the contract it has with the investor.

The Grade of loan you invest in my determine your level of Christmas period arrears...do you invest in low grade loans?

Hi BJ,

Predominently B Grade's...... Persoanlly I choose to sacrifice a little less interest for hopefully a little better reliability of investor! Of course this does not always pay dividends ( or my Harmoney capital & interest back!! )

[mlt322]

a little less interest for hopefully a little better reliability of investor! Of course this does not always pay dividends ( or my Harmoney capital & interest back!!

I've got 2 arrears and both are B rated. So much for more risk with the lower grades eh lol

[Bjauck]

... Persoanlly I choose to sacrifice a little less interest for hopefully a little better reliability of investor! Of course this does not always pay dividends ( or my Harmoney capital & interest back!! )

I've got 2 arrears and both are B rated. So much for more risk with the lower grades eh lol

At least they are not charge-offs atm!

I see on https://www.harmoney.co.nz/investors...ace-statistics that Harmoney are reporting that actual defaults for every grade of loan are less than those it was forecasting.

[Harvey Specter]

I see on https://www.harmoney.co.nz/investors...ace-statistics that Harmoney are reporting that actual defaults for every grade of loan are less than those it was forecasting.

yet didn't they just increase the interest rates?

I think they have moved people into lower (better) grades. Things like income cover and years in job seem to have worsed across the grades. Eg. might previously have been a E grade loan but now a D grade.