Process payment

Payments made on line of credit accounts reduce the account's current balance and free up available credit. Note the following when processing payments on a line of credit account:

LoanPro communicates with the payment processor via Secure Payments. This request initiates a money movement that is completed via the following steps:

1. The payment is initiated via LoanPro and then sent to Secure Payments
2. Secure Payments sends the payment information to the selected payment processor
3. The payment processor attempts to process and payment and returns an immediate response to Secure Payments. The response is relayed back to LoanPro while the transaction waits to settle.
4. Once the transaction settles, the payment processor notifies Secure Payments, which then notifies LoanPro. LoanPro then updates the account's information to reflect the final status of the payment.

If the line of credit is linked to other line of credit accounts, the payment amount can be allocated in two different ways:

1. individually on the child line of credit

Logging a payment on the parent line allows you to split the payment across child lines. LMS will automatically update the child lines to reflect the payment.

2. broadly on the parent line

Logging a payment on the child line allows you to apply payments on individual accounts. LMS will automatically update the parent line to reflect the payment.

ℹ️

This request interacts with Compliance Guardrails.

Compliance Guardrails are a LoanPro feature that helps ensure actions taken on accounts are done so compliantly with lending laws. Once configured, these guardrails are applied to a line of credit program, ensuring all accounts within that program adhere to the same compliance standards.

Guardrails are configurable, allowing you to set rule criteria for which accounts should either result in a warning or an error. If your request attempt is flagged by a guardrail, a 409 response code is returned along with one of the following responses:

Guardrail warningGuardrail error

{
    "error": {
        "message": "",
        "type": "GuardrailEvaluationException",
        "code": 409
    },
    "warnings": [
        "<p>CARD Act Warning: This is a configurable warning message.</p>"
    ]
}

{
    "error": {
        "message": "CARD Act Compliance: This is a configurable error message.",
        "type": "GuardrailEvaluationException",
        "code": 409
    }
}

Guardrail flags can be ignored for testing purposes by adding "ignoreGuardrailWarnings": true to the payload of this request.

Database

For information regarding Line of Credit and Payment database tables, see the following articles:

Database – Line of Credit Payments (line_of_credit_payment_entity)

Database – Line of Credit Payment Type (line_of_credit_payment_type_entity)

Database – Line of Credit Account (line_of_credit_entity)

{
    "entityId": 35,
    "entityType": "Entity.LineOfCredit",
    "status": "lineOfCredit.transactionStatus.pending",
    "description": "JULY STATEMENT PAYMENT",
    "applyDate": "2024-07-15",
    "amount": 2.39,
    "displayId": "102937",
    "echeckAuthType": "payment.echeckauth.WEB",
    "paymentTypeId": 1,
    "paymentProcessorId": 17,
    "paymentMethodId": 4,
    "paymentAccountId": 190,
    "chargeFeeType": "lineOfCredit.convenienceFeeType.waiveConvenienceFee",
    "chargeFeeAmount": 0,
    "chargeFeePercentage": 0,
    "isSplit": 0,
    "paymentSplitTypeId": null,
    "ignoreGuardrailWarnings": false
}