Since some times we all get them at different times:
I received it about an hour ago. I think it's a good idea, just like a credit card the clock is still ticking until the borrower decides to pay. It might have an added benefit of more loans paying on time if people know they have to pay more for paying late vs spending money elsewhere.
Just talked to LC, (still trying to get the screwed up FICO data that is missing from some notes resolved), and they said that the interest will come to us investors, not to LC.
Score one for the little guys!
Will be running out scooping up those IGP notes on FOLIO.<----------Sarcasm!
At least for me I sell everything once it is IGP so I wouldn't know what happens when my loans are late. I'm not surprised if a late fee isn't charged if they can't even call some people or leave a message when a borrower misses a payment.