Loan Details

Owned by TurnKey Lender
Last updated: Jul 29, 2024
2 min read

For such loans the system has a separate Investments' Gathering status . Loans are assigned this status after approval by the system or Underwriter and remain in this status until fully funded. Loans with the Investments' Gathering status are visible to Investors in their online portal.
To view loans awaiting investments:

  • Enter your Dashboard.
  • Navigate to Servicing workplace.

Set Investments' Gathering filter to selected loans awaiting investments


The applications filter window.
The table with all loans awaiting investments is displayed:


The loans awaiting investments.
To view list of investments go to Investments tab.

Investments tab.
The list of investments contains the following details:

  1. Date when investment was submitted
  2. Full name of the investor
  3. Investment amount - the amount of funds invested to the loan by this investment
  4. Investment interest rate - this is the rate that's used to calculate the amount of interest for the Investor (not the same thing as regular Interest Rate of the loan)
  5. Return amount - total sum repaid to the investor from this loan's repayments

For each investment the user can view following details:

  1. Current investment balance including interest and principal. 
  2. List of repayments received for the investment. Repayment amounts are calculated considering the investment's portion value.


If a loan is not fully funded, the user can see which part of the total loan amount is currently invested.

Note:

Each investment has its own internal balance value (IB). This balance changes together with loan balance changes. Balance is increased when some amount is accrued and reduced if a repayment is applied. The balance consists of Principal and Interest parts.
Once the loan is disbursed, the balance Principal is increased to the amount of investment:  IB.Principal = InvestmentAmount
Every time a new row is added to the loan's balance log, following logic is applied:
If balance log row has an accrued interest value, a part of this interest is added to the investment balance: 
IB.Interest = IB.Interest + accrued_interest_value * investment_portion * interest_diff
If balance log row corresponds loan repayment, part of it is subtracted from the investment balance:
Interest is reduced. NOTE: the "max" check is required to avoid reducing Interest to <0:
IB.Interest[i] = IB.Interest[i-1] - max( IB.Interest[i-1], repaid_interest * investment_portion * interest_diff ).
Principal is reduced:
IB.Principal[i] = IB.Principal[i-1] - repaid_principal * investment_portion
where
investment_portion = investment_amount / loan_amount
interest_diff = investment_interest_rate / loan_interest_rate