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Lender servicing fee refunds

03/16/10 posted by Prosper Blog     [ No Comments ]

Recently we received an email from one of our lenders calling attention to a very odd looking loan payment transaction.  The situation involved a loan from 2007 that had gone delinquent, but had been recently cured.  On loans of that vintage, Prosper forfeited servicing fees during the time that a loan was more than 30 days delinquent.  However, on the “post cure” payments, the servicing fee was being inaccurately equated to the entire payment amount. Read more

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