Loan rebought - What is it?
I suspect that this will be very obvious once I get a reply, but can someone explain what it means when I look into one of my loans and see the status of "Loan rebought"?
Hi LEONARD STEWART ENELOW,
This means that the lending company rebought the loan from you. Borrowers can repay the loans earlier or ask lending companies to extend the loan term. In such cases, loans are being bought back from investors.1
Thanks for the reply.
I am looking at one of my Notes, and I have selected the "Payment Schedule". I can see that 6 of the 10 underlying loans within it have been rebought, with the remaining 4 still showing as "scheduled" for future payments. So, that makes sense.0
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