Payment Method

Use this function to associate a payment method with a borrower’s loan. Access the Payment Method screen by selecting one or more of a borrower’s loans on the Loans screen. Select the Payment Method function from the drop-down box that appears in the Loans Navigation Bar, and click on the Go button that appears to the right of the drop-down box. Select the payment method from those listed in the Payment Method screen. Once you have selected a payment method, click the Apply icon in the function bar. When the Apply icon is clicked, the database is updated and the Loan Payment Method window is closed.

Using a Credit Card as a Payment Method

If the borrower would like to use a credit card as their method of payment, their credit card information must be entered first through the Credit Card Accounts screen under the Borrower Services tab. Once you have entered this information, the borrower’s credit card will appear in the list on the Payment Method screen.

Using an ACH Account as a Payment Method

If the borrower would like to use an ACH Account as their method of payment, the ACH Account information must be entered first through the ACH Accounts screen under the Borrower Services tab. Once this information is added, it will appear in the list on the Payment Method screen.