Add origination fees

contracts/Loan.sol

@@ -38,6 +38,8 @@ contract Loan is ILoan {
     uint256 public immutable payment;
     uint256 public paymentsRemaining;
     uint256 public paymentDueDate;
+    uint256 public originationFeeBps;
+    uint256 public originationFee;
 
     /**
      * @dev Modifier that requires the Loan be in the given `state_`
@@ -96,7 +98,8 @@ contract Loan is ILoan {
         uint256 apr_,
         address liquidityAsset_,
         uint256 principal_,
-        uint256 dropDeadTimestamp
+        uint256 dropDeadTimestamp,
+        uint256 originationFeeBps_
     ) {
         _serviceConfiguration = serviceConfiguration;
         _factory = factory;
@@ -128,6 +131,15 @@ contract Loan is ILoan {
             .div(RAY)
             .div(10000);
         payment = paymentsTotal.mul(RAY).div(paymentsRemaining).div(RAY);
+
+        // Persist origination fee and cache the computed value
+        originationFeeBps = originationFeeBps_;
+        originationFee = principal
+            .mul(originationFeeBps)
+            .mul(duration.mul(RAY).div(360))
+            .div(paymentsRemaining)
+            .div(RAY)
+            .div(10000);
     }
 
     /**
@@ -316,7 +328,8 @@ contract Loan is ILoan {
             IPool(_pool).firstLossVault(),
             firstLossFee,
             IPool(_pool).feeVault(),
-            poolFee
+            poolFee,
+            originationFee
         );
         LoanLib.completePayment(liquidityAsset, _pool, poolPayment);
         paymentsRemaining -= 1;
@@ -344,7 +357,8 @@ contract Loan is ILoan {
             IPool(_pool).firstLossVault(),
             firstLossFee,
             IPool(_pool).manager(),
-            poolFee
+            poolFee,
+            originationFee
         );
 
         LoanLib.completePayment(

contracts/LoanFactory.sol

@@ -40,7 +40,8 @@ contract LoanFactory {
         uint256 apr,
         address liquidityAsset,
         uint256 principal,
-        uint256 dropDeadDate
+        uint256 dropDeadDate,
+        uint256 originationFee
     ) public virtual returns (address LoanAddress) {
         require(
             _serviceConfiguration.paused() == false,
@@ -57,7 +58,8 @@ contract LoanFactory {
             apr,
             liquidityAsset,
             principal,
-            dropDeadDate
+            dropDeadDate,
+            originationFee
         );
         address addr = address(loan);
         emit LoanCreated(addr);

contracts/libraries/LoanLib.sol

@@ -262,7 +262,8 @@ library LoanLib {
         address firstLossVault,
         uint256 firstLoss,
         address poolAdmin,
-        uint256 poolFeePercentOfInterest
+        uint256 poolFeePercentOfInterest,
+        uint256 originationFee
     ) public {
         if (firstLoss > 0) {
             IERC20(asset).safeTransferFrom(
@@ -278,5 +279,12 @@ library LoanLib {
                 poolFeePercentOfInterest
             );
         }
+        if (originationFee > 0) {
+            IERC20(asset).safeTransferFrom(
+                msg.sender,
+                poolAdmin,
+                originationFee
+            );
+        }
     }
 }

test/Loan.test.ts

@@ -5,6 +5,7 @@ import { DEFAULT_POOL_SETTINGS } from "./support/pool";
 import {
   collateralizeLoan,
   collateralizeLoanNFT,
+  DEFAULT_LOAN_SETTINGS,
   fundLoan,
   matureLoan
 } from "./support/loan";
@@ -14,7 +15,10 @@ describe("Loan", () => {
   const SEVEN_DAYS = 6 * 60 * 60 * 24;
   const THIRTY_DAYS = 30 * 60 * 60 * 24;
 
-  async function deployFixture(poolSettings = DEFAULT_POOL_SETTINGS) {
+  async function deployFixture(
+    poolSettings = DEFAULT_POOL_SETTINGS,
+    loanSettings = DEFAULT_LOAN_SETTINGS
+  ) {
     // Contracts are deployed using the first signer/account by default
     const [operator, poolManager, borrower, lender, other] =
       await ethers.getSigners();
@@ -99,7 +103,8 @@ describe("Loan", () => {
       500,
       liquidityAsset.address,
       500_000,
-      Math.floor(Date.now() / 1000) + SEVEN_DAYS
+      Math.floor(Date.now() / 1000) + SEVEN_DAYS,
+      loanSettings.originationFee
     );
     const tx2Receipt = await tx2.wait();
 
@@ -148,6 +153,15 @@ describe("Loan", () => {
     return deployFixture(poolSettings);
   }
 
+  async function deployFixtureOriginationFees() {
+    return deployFixture(
+      DEFAULT_POOL_SETTINGS,
+      Object.assign({}, DEFAULT_LOAN_SETTINGS, {
+        originationFee: 100
+      })
+    );
+  }
+
   describe("after initialization", () => {
     it("is initialized!", async () => {
       const { loan, pool, borrower, loanFactory } = await loadFixture(
@@ -1060,6 +1074,47 @@ describe("Loan", () => {
       const newDueDate = await loan.paymentDueDate();
       expect(newDueDate).to.equal(dueDate.add(THIRTY_DAYS));
     });
+
+    it("can collect origination fees from the next payment", async () => {
+      const fixture = await loadFixture(deployFixtureOriginationFees);
+      const {
+        borrower,
+        collateralAsset,
+        liquidityAsset,
+        loan,
+        pool,
+        poolManager
+      } = fixture;
+
+      // Setup
+      await collateralAsset.connect(borrower).approve(loan.address, 100);
+      await loan
+        .connect(borrower)
+        .postFungibleCollateral(collateralAsset.address, 100);
+      await pool.connect(poolManager).fundLoan(loan.address);
+      await loan.connect(borrower).drawdown();
+      expect(await loan.originationFee()).to.equal(416);
+
+      // Make payment
+      const firstLoss = await pool.firstLossVault();
+      const feeVault = await pool.feeVault();
+      const dueDate = await loan.paymentDueDate();
+      expect(await loan.paymentsRemaining()).to.equal(6);
+      await liquidityAsset.connect(borrower).approve(loan.address, 2083 + 416);
+      const tx = loan.connect(borrower).completeNextPayment();
+      await expect(tx).to.not.be.reverted;
+      await expect(tx).to.changeTokenBalance(
+        liquidityAsset,
+        borrower,
+        -2083 - 416
+      );
+      await expect(tx).to.changeTokenBalance(liquidityAsset, pool, 1979);
+      await expect(tx).to.changeTokenBalance(liquidityAsset, feeVault, 416);
+      await expect(tx).to.changeTokenBalance(liquidityAsset, firstLoss, 104);
+      expect(await loan.paymentsRemaining()).to.equal(5);
+      const newDueDate = await loan.paymentDueDate();
+      expect(newDueDate).to.equal(dueDate.add(THIRTY_DAYS));
+    });
   });
 
   const findEventByName = (receipt, name) => {

test/support/loan.ts

@@ -3,6 +3,10 @@ import { deployServiceConfiguration } from "./serviceconfiguration";
 
 const SEVEN_DAYS = 6 * 60 * 60 * 24;
 
+export const DEFAULT_LOAN_SETTINGS = {
+  originationFee: 0
+};
+
 /**
  * Deploy a loan
  */
@@ -42,7 +46,8 @@ export async function deployLoan(
     500,
     liquidityAsset,
     1_000_000,
-    Math.floor(Date.now() / 1000) + SEVEN_DAYS
+    Math.floor(Date.now() / 1000) + SEVEN_DAYS,
+    0
   );
 
   const txnReceipt = await txn.wait();