Attention all credit unions using loan payment vendors such as RISE, MessagePay, LenderPay, REPAY or SWIVEL:
On Tuesday, February 10th, we will be deploying a project to allow Interest Only loan types to be paid via third-party loan payment vendors. Although these loan types will now be available for your members to make payments on, please note that the integrations do not contain the logic for special handling in cases like delinquency, multiple payments per month, etc. We strongly recommend monitoring these loans closely, as it is not guaranteed that payments will apply how the member intended in those cases.
If you have any questions, please reach out to the Lender*VP team at lendervp@cuanswers.com.
