Today, the clap note still remains an exclusive investment vehicle for well-heeled investors. However, the actual origination of the instruments has shifted from the lender to the borrower, with servicing companies managing the payments to the investors on behalf of the borrowers.
Today, the clap note is still a high-end investment option for affluent investors. The origination of these instruments has shifted from lenders to borrowers, with servicing companies handling payments on behalf of borrowers.