Loan management

Payments, extensions, and late payment.

Payments

Borrowers pay a servicer offchain, as set out in their loan documents. Repayments flow back to the vault. [TBD: payment schedule and methods]

Statements

[TBD: borrower statements and portal]

Extensions

[TBD: when an extension is available and its cost]

Prepayment

[TBD: prepayment terms]

Late payment and default

If a payment is missed, the servicer contacts the borrower and works toward a cure. If a default is not cured, the lien may be enforced under local law. [TBD: grace periods, default interest and enforcement process]