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Post by marcusponds on Jan 30, 2017 16:30:29 GMT
No, lenders receive interest for the number of days they own the loanpart (daily trigger point = midnight) I sold some loans today (my first time) but my :interest received" has not increased - does it happen overnight?
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ali
Member of DD Central
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Post by ali on Jan 30, 2017 16:33:02 GMT
No, lenders receive interest for the number of days they own the loanpart (daily trigger point = midnight) I sold some loans today (my first time) but my :interest received" has not increased - does it happen overnight? On the morning of the monthly anniversary of the loan. Normally the same date as the end date, but there's at least one loan with a 2 day offset.
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Post by marcusponds on Jan 30, 2017 16:40:06 GMT
I sold some loans today (my first time) but my :interest received" has not increased - does it happen overnight? On the morning of the monthly anniversary of the loan. Normally the same date as the end date, but there's at least one loan with a 2 day offset. ...this applies even for loans sold 'mid month'?
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ali
Member of DD Central
Posts: 313
Likes: 311
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Post by ali on Jan 30, 2017 16:42:01 GMT
On the morning of the monthly anniversary of the loan. Normally the same date as the end date, but there's at least one loan with a 2 day offset. ...this applies even for loans sold 'mid month'? Yup. Only exception is if the loan repays early.
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Post by marcusponds on Jan 30, 2017 16:48:04 GMT
...this applies even for loans sold 'mid month'? Yup. Only exception is if the loan repays early. got it. Thanks ali.
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james
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Post by james on Jan 30, 2017 16:50:16 GMT
Yes. At MoneyThing you sell your capital risk but are still exposed to the interest risk until the borrower pays. It's one of the neater ways of handling a secondary market without both buyer and seller being taxed on the accrued interest.
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