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How are payments allocated to a borrower’s loan balance?

When a borrower makes any payment on a Borrower Loan, the breakdown of that payment is available in the “Payment history” table on the “Notes” page. Navigate to My Account and click on “Notes.” Click on the Note ID to view individual Note details. To help you better understand the Note details, the following is a list of terms and how they apply to the Note details:

  • Date: The date that the borrower’s payment was withdrawn from their bank account.
  • Payment number: An internal accounting number that can be used to identify each payment uniquely. If a payment is disputed, the disputed line item will contain the same payment number.
  • Total paid: Your pro-rated share of the gross payment made by the borrower.
  • Non-Sufficient Funds (NSF) fees: If the borrower owes Prosper any fees for failed payments (typically due to NSF), these will be subtracted from the gross payment amount.
  • Total received: The gross amount received by the investor, which excludes NSF fees.
  • Late fees: If the borrower has any accrued, unpaid late charges, these are paid to the investor.
  • Interest: If the borrower has any accrued interest since the last payment, this is paid to the investor.
  • Principal: Any remaining funds received are allocated to principal.
  • Service fees: If any investor servicing fees have accrued, these will be charged to the investor as an expense.
  • Collection fees: If the loan has been assigned to a collection agency, collection agency fees will be charged to the investor as an expense.
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