News

Proplend – Secondary Market

Published on September 22, 2014

Whilst we are working on a fully automated Secondary Market, Proplend are pleased to advise Lenders that in the meantime we are able to offer a manual version. The secondary market will allow Members to purchase existing income producing Loan Contracts.

The buyer of the Loan Contract, will agree to buy the Loan Contract at a fixed price offered by the seller of the Loan. In addition, the buyer of the Loan will have to pay to the seller the interest accrued from the Loan’s last interest payment date until the date the Loan Contract is actually assigned. Upon the next Loan interest payment date the Buyer of the Loan Contract will receive the full amount of interest due and payable for the period since the last interest payment date.

Members will have to be fully registered in order to view the existing income producing Loan Contracts available on the Secondary Market.