On a hard and fast schedule they get started and those payments are being serviced by Self Lender that they agree upon when. Therefore personal Lender behind the scenes …. You know, we have been producing the (inaudible) file that gets uploaded towards the (inaudible) book. We don’t move the amount of money, but the data are moved by us so the cash is being drawn through the customer’s account either through ACH or via a debit card.
What goes on is really as the consumer repays the mortgage, they’re paying off the mortgage, and yet the CD is somewhat growing in the long run and thus at the end the client has paid down the whole loan and then simultaneously, the CD a unlocks after which the customer receives the money either via ACH or through check.
Peter: Okay, at the conclusion of the loan term can there be a rollover or can they elect to back take the money? What are the results following the period’s over?
James: then when we first got started, you realize, we developed the experience to actually have begin date and prevent date and it also in fact is as you repay it, you receive the cash, end of tale. That’s exactly how it’s today plus it’s maybe not really a great experience that method and in order for’s likely to be changing in the foreseeable future, but to date, you will get the amount of money, congratulations, your credit score might be up so we supply the clients their credit history from month to month to enable them to actually monitor that more than time. Continue reading James: Yeah, that’s right. So what’s occurring is the consumer is building a repayment