There were three more loans late by 30 days or more at the end of this quarter than there were at the end of last quarter, however, no new loans have entered default and, due to ongoing collection efforts, the value of principal in default has come down since the last report.
As a result of this, and significant increases in lending, the overall default rate has decreased from 1.14% in Q4 2016 to 0.86%.
We recently introduced status updates for non-performing loans. Now you can see the most recent update for late loans, at any time, from within your Linked Finance account.
If you ever have queries about a specific loan that you are involved in, please feel free to contact email@example.com. We are always happy to assist in any way we can.