Offering updates are posted when any of the following events occur:
Construction draw: Funds are disbursed to the developer after inspection of progress.
Missed payments: Passive investors are notified if a borrower fails to make an interest payment, generally at 30-, 60-, etc. increments, with updates on conversations our team is having with the borrower.
Late payments received: Updates are made when a late payment is received. These also include a late fee which is shared pro rata with all investors in the project.
Payoff: Passive investors are notified when the loan has been paid off and principal has been returned.
Otherwise, investment offering updates are posted as needed on a monthly basis. If it has been over a month and you would like an update on a project you have invested in, please reach out to the Investor Relations team at [email protected].