Thank you Joker- Really appreciate your kind words, and your contributions to the thread!
As Humvee points out in the post above, it's still a very young portfolio- I only really started investing in earnest in March. I'm realistic about the fact that arrears & write-offs will become more frequent as time goes on. I've definitely found myself passing on more and more loans recently- the quality just doesn't seem to be there at the moment. I'm really going to tighten up my criteria (more high B's & C's and only the "best" D's & E's) from now up until Christmas. This is based on some of the comments earlier in the thread about loans taken out in the lead-up to Xmas experiencing a higher rate of defaults.
One thing I would love to see is for Harmoney to allow the retail lenders to have a nibble at the loans that get diverted to the wholesale market. You could still have the wholesale investors taking 75-80%, but why not let the retail lenders fill the first $5k of a $25k loan before getting 'vacuumed up' by the whales? As it stands, us little-guys don't see four out of every five loans Harmoney processes.