Allows a retail user to initiate multiple types of loan payments as supported on their core.
The Loan Payment form supports one-time payments, recurring payments of a static amount, authorizations, and future dated loan payments.
Features & Benefits
Supports Multiple Payment Types
The Loan Payment form supports various payment types that can be configured by loan product.
- Regular Payment
- Interest Payment
- Principal Payment
- Paydown Payment
- Payoff and Close Payment*
- Escrow Payment*
*Dependent on if core supports payment type
Allows for External Payments
- Allows for the ability to control whether external deposit (checking and savings) source accounts are allowed to be used on the form.
- Allows for payments to an external loan.
- Supports only regular and principal payment types at this time.
Supports Credit Card Payments
- Supports regular payment type for Credit Cards.
- For additional payment types, PSCU adaptor is available for purchase. Additional payment types (regular, principal only, interest only) are dependent on adaptor and payment type core support.
Supports Recurring Payments
- Allows for users to set a recurring fixed payment for a selected frequency (including indefinitely).
- Provides the ability to control whether a given payment type allows the recurring option to be selected, which recurring frequencies show up for a given payment type, and whether or not the user can select the option to have recurrence persist indefinitely.