Life cycle

Application and its life cycle in NinjaLender

The life cycle of the application in the system consists of the following stages:

DRAFT - Draft. The application is created in the system but not for sale. This stage is available only for applications created from the NinjaLender interface and is used to verify itself when manually entering an application into the system.

CONFIRM - Optional stage for those applications in which a confirmation from the borrower is necessary before starting to sell it on the exchange.

AUCTION - Auction. This stage is enabled only for the types of applications in which the response rate is not so critical (for example, within the PayDayLoan type, the application can be considered old after a day, because in this type of auction is disabled) The first stage of the sale of the application. All applications for sale go to this stage. (applications uploaded by API go to this stage by default if this stage is enabled for the loan type). At this stage, an auction is created based on the application price at which other exchange participants (who are interested in the application) make their bets, the auction is limited in time, after the expiration of the auction the winner receives an application; Or moves to the next stage if there were no bets.

OPEN_SELL - Market. At this stage, there are applications with loan type that not provided for the auction. Either applications that were not purchased at the auction stage. From this stage you can buy the application directly at its minimum price (price_min).

SOLD - Sold. At this stage there are bids that were sold from the Auction or Market.

WIDTHRAW - Withdrawn. This stage is intended for applications that were not sold from the market even after going there. Application over time recognized "not interested" and withdrawn from the trading space.

DECLINED_BY_BORROWER - Declined by Borrower. Applications from the sale of which the borrower refused (fro Confirm stage)