Happen Bank services all personal and small business loans. As we receive payments from borrowers we securely transfer the funds received to pay investors in the corresponding Notes. We also work with third-party collections agencies to manage delinquent loans.
Who is servicing the loans?
Last Updated June 8, 2023less than a minute read
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Related Impact
Today, we are thrilled to announce the completion of our acquisition of Radius Bancorp, Inc. (“Radius”). In February 2020, we announced our intent to acquire Radius and shared how we can grow and deepen our customer relationships with a marketplace bank.
Related FAQ's
You can assign or reassign your Notes to different portfolios in your account from the My Notes page in your Member Center.
Each Note in your account lists a status corresponding to the loan associated with the Note.
While several factors, including early loan payoff, can affect returns on your Notes, the biggest impact comes when members miss loan payments or stop making payments entirely.
Happen Bank makes every effort to bring late Notes back to "current" status. We'll update you with any collection activity related to your Notes through the Loan Performance page in your Member Center.
Happen Bank ended the purchase of new Notes on December 27, 2020, and retired the Notes platform on December 31, 2020.
Related Glossary
{noun} A type of credit that allows the borrower to make charges and payments against a set borrowing limit, paying interest only on outstanding balances.
{noun} The amount of unpaid interest that has accumulated as of a specific date, either on a loan or an interest-bearing account or investment.
{noun} The total annual cost to borrow money, including fees, expressed as a percentage.
A debt that is written off as a loss because the financial institution or creditor believes it is no longer collectible due to a substantial period of nonpayment.
{noun} An interest rate that remains the same for a set time, usually for the life of the loan.
