When you service an asset note for an investor — a note whose Pay-To is a lienholder — every borrower payment you record builds a payable: the principal and interest you collected now belongs to that lienholder. NoteHarbor tracks it automatically on the lienholder's page under Owed this investor.
Setting it up
Assign the loan's lienholder (its Pay-To) on the loan, or from the Lienholders page → Manage loans. Only asset notes with a Pay-To accrue payables — a liability loan or an unassigned note doesn't.
What accrues
Each recorded payment accrues one payable for the principal + interest actually collected on it. Escrow is never included — it's held in trust for the county and insurer, not the note owner's money — and late charges and fees stay with you as the servicer. A payment held in suspense (or applied only to escrow) accrues nothing until real principal or interest is applied; applying suspense later accrues it then.
The ledger
Owed this investor lists every payable with its payment date, loan, principal, interest, net owed, remitted, and outstanding, plus a running cumulative total and three headline figures — total owed, remitted, and outstanding. If the loan charges a servicing fee, a Fee column and a Fees netted figure appear too — net owed is always after the fee. Export CSV downloads the whole statement.
Recording a remittance
When you actually pay the lienholder, select the open payables and click Record remittance — enter the date, method (check / ACH / wire / other), an optional reference, and (for anyone but the account owner) a note. The selected payables flip to remitted and leave outstanding. Recording a remittance is an Admin/Owner action and is audited.
Auto-remit (opt-in)
If you actually sweep collections to this investor as they arrive (say, same-day ACH from your trust account), turn on Auto-remit on the lienholder's page: each new payable is then marked remitted — for its net amount, with your chosen method label and an auto-generated reference — the moment its payment posts. Payment edits are covered too: when an edit re-prices a payable that's still open, the adjusted payable is auto-remitted the same way, at its new net. Be clear about what this is: auto-remit records the remittance automatically; it never moves money. If you don't sweep immediately, leave it off — marking money paid-out that wasn't actually sent is exactly the book you don't want. Off by default; turning it on affects payments posted from then on (remit any backlog by hand); the Admin+ change is audited, each auto-remittance is audited with an auto flag, and reversing a payment still claws its auto-remitted payable back as a flagged clawback — and a payable whose net is $0 (the servicing fee consumed the whole collection) is never auto-marked, since nothing is owed; it stays open for you. One consequence to know: an auto-remitted payable is money "already paid out," so editing that payment's amounts later requires backing the remittance out first — same as any remitted payable.
It stays honest with your payments
Payables follow your payments exactly. Edit a payment's split and the still-unremitted payable re-prices to match; delete or reverse a payment and its payable is backed out (a reversed row, no longer owed). If a payable was already remitted when its payment is deleted, the reversal is flagged as a clawback in the audit trail so you can settle up.
v1 tracks single-owner, full-note positions: the lienholder owns 100% of the note's collections. Fractional participation splits aren't modelled yet.