Actually we have tweaked the platform a little bit so it now puts loans on Final Call for 1 hour as soon as the loans turn green. This essentially means that loans automatically close 1 hour after they become fully funded at or below the wanted interest rate (and you will therefore not see as many green loans on the platform as previously).
The change has been made primarily for two reasons:
- To ensure that available investor capital is directed towards loans in need of funding (“red” loans) rather than loans that are already safe (“green” loans). The objective is to avoid loan cancellations as much as possible.
- To improve the turnaround time on the platform. The sooner the loans close, the sooner they move to the next status (“pending”).
As a natural result of this adjustment, Providers are no longer able to close their loans manually.