How is my loan payment applied?

Payments to your loan will be applied to the oldest outstanding items first, if multiple items are due at the same time, payments would be applied first to accrued and unpaid interest, next to fees and out-of-pocket expenses incurred by Lender, and the remainder thereof, if any, to the unpaid principal balance and to other amounts owing.

DreamSpring implemented this change to ensure that payments are applied in the most efficient order to help clients keep their loan current as well as increase transparency around how loan repayments will affect loans.