Servicing and enforcement

Outline. This page is a draft and will be completed before launch.

What happens after a loan is funded, and what happens if a borrower does not pay.

Servicing

[TBD: servicer, payment collection and borrower reporting]

[TBD: when a loan is classed as late, grace periods and default interest]

The first lien is held for the vault. [TBD: security agent / trustee, and the enforcement process in each market]

A first-loss reserve absorbs losses first, and any losses beyond it reduce NAV. See Defaults and impairments.

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