Seller files
From initial loan uploads to monthly reporting, the following are samples of files required at each stage of the participations process.
1: Pre-Sale
Detailed Loan Data (Tapes) are to be delivered to the Trading team to review, price and load into the system before launching the deal.
Sample Loan Data Files by Asset Type:
Institutional Due Diligence Files:
- Lending, Collections and Servicing Policies
- Other Guidelines, Procedures and Controls
- Credit Tier, Charge Off and Delinquency Data
- Audited Financials (2 most recent years worth)
Loan Due Diligence Files:
- Details on Borrower, Collateral, etc. (Typically required for 10% of loans in each Pool as determined by LoanStreet prior to publishing in Marketplace)
2: Closing
On the Day of Closing, an updated loan tape is to be delivered to the Trading Team, with values as of the close of business one day prior.
This File (See Sample) must contain the following fields:
- Loan ID (Account)
- Principal Balance
- Accrued Interest
- Days Delinquent
- Last Payment Date
- Legal Status (Charge Off, Bankrupt, Repossession)
3: Post-Sale
Remittance reporting begins on the first business day of each month, so Month-End loan balances and monthly transaction data should be delivered (via SFTP or Dataroom upload) a soon as possible, ideally before the 3rd business day.
Test files should be sent for validation at least one week prior to the start of the first reporting cycle, and SFTP connectivity confirmed at the same time if your extracts and uploads are to be fully automated.
Sample Monthly Extracts:
- Payments / Transactions
- Balances / Status
- Loan Data (Optional – See Data Spec for details)
Setup lead time will ensure a smooth start for new sellers and timely delivery of monthly data builds in buffer for discrepancy resolutions.
LoanStreet’s Reporting Operations team will typically hold new seller’s reports for review and sign off before releasing reports to buyers.