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.
Currently, the clap note remains an exclusive investment opportunity for wealthy individuals.  However, the process of creating these instruments has changed, moving from lenders to borrowers, and now involves servicing companies managing payments to investors on behalf of borrowers.