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James: Yeah, that’s right. Therefore what’s taking place is the client is building a payment

James: Yeah, that’s right. Therefore what’s taking place is the client is building a payment

On a set schedule they get started and those payments are being serviced by Self Lender that they agree upon when. Therefore Self Lender behind the scenes …. You understand, we have been producing the (inaudible) file that gets uploaded to the (inaudible) reserve. We don’t move the funds, but we do go the data so the cash is being taken through the customer’s account either through ACH or via a debit card.

What are the results can be as the client repays the mortgage, they’re paying off the mortgage, and yet the CD is somewhat growing with time and thus by the end the consumer has repaid the whole loan and then simultaneously, the CD a unlocks after which the consumer gets the cash either via ACH or through check.

Peter: Okay, at the conclusion of the loan term will there be a rollover or can they elect to back take the money? What the results are following the duration’s over?

James: when we first got started, you realize, we created the ability to essentially have begin date and prevent date plus it in fact is it off, you get the money, end of story like you pay. That’s exactly exactly how it really is today plus it’s maybe not just a great experience that method and making sure that’s likely to be changing in the foreseeable future, but to date, you can get the money, congratulations, your credit history might be up and then we provide the clients their credit rating from month to month so that they can really monitor that more than time. So they really are becoming some education stuff, but they’re not receiving one other financial loans apart from our flagship item.

Peter: Okay, therefore you’ve got a couple of bank partners i’m curious…you said. I imagine that is significantly of the innovative idea that….it’s nothing like most people are achieving this, you’re the first one that I’ve seen that features this approach just how did those conversations get?

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