Author Topic: Invalid note listing with scheduled payment is on the next business day  (Read 497 times)

Joe6Luck

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I am seeing quite a few invalid note listings on FolioFn recently. Some seller lists them with high discount (like 20% off for a note in the status of NeverLate/Current/DOWN). However, I think these listings are invalid because their scheduled payment is on the next business day with two possible outcomes:

 1. If the scheduled payment is successfully on the next biz day, the note sale will get cancelled by LC (so, the seller still owns these good notes)
 2. If there is no scheduled payment on the next biz day, the note sale is successful and the borrower get these bad notes (which are no longer "Never Late")

Does anyone see this being an issue or see any other caveats that I have missed here?