ACH returns
ACH credits aren't final as are wires. When Arix uses an ACH rail to process a loan, the rail can be returned from the Fed at any point in the loan process. Returns typically occur within several days of funding, but they can be generated up to 180 days from the funding date. Click here for more information.
Arix uses webhooks to update the funding status of a loan.
When a rail is returned, the status of the rail is automatically updated to Returned.
The loan status changes based on these conditions:
- Returned If all rails were returned, then the loan automatically moves into the status, Returned, regardless of the previous loan status.
- NotFullyFunded If at least one rail was returned, the loan moves into the status, NotFullyFunded. See the enums reference document for a list of the loan and rail statuses.
These webhooks are triggered for the rail and loan statuses:
- LoanStatusUpdated (if the return causes the loan status to change)
- RailUpdated
The loan funding information is updated accordingly in these fields:
- ProcessedRails
- ReturnedRails
You can call Get/LoanDetails to view the details on a returned rail by including returned rails in the field request. The update includes the NACHA return reason code, the return trace number, and the original trace number.
To resubmit a returned rail, call @PUT/FundingInfo with the correct details.
