Who receives accrued interest?

Accrued interest is the interest that has accumulated on a Note during the payment cycle, but that has not yet been collected from the Borrower of the corresponding loan. When the monthly payment from the Borrower is disbursed to investors, accrued interest is paid to the holder of the Note.  The person who holds the Note at the time payment is disbursed by Lending Club will receive their portion of the proceeds of that payment.

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