--- title: New in lending slug: concepts/lending/new-in-lending description: Overviews of the latest features and enhancements available in Cross River’s lending program. docTags: createdAt: 2024-08-28T13:08:29.744Z --- ## Borrower Paid Interest – Automated Interest Netting at Purchase **Release Date**: 2026-07-13 The Selling Platform now automatically applies borrower-paid interest to reduce the MPL's purchase cost at the time of purchase. ### What It Does: - **Captures borrower payments**: Ingests interest payments made by borrowers during the seasoning period from servicing data - **Automatic netting at purchase**: Two transfers execute at purchase: - InterestCollectionOnPurchase charges the MPL for full accrued interest - BorrowerInterestPaid credits the MPL back for what borrowers already paid - **Net purchase calculation**: Total Purchase = Principal + (Accrued Interest - Borrower Paid Interest) - **Config-driven**: Enabled per MPL and per loan type (HFS/LTHFS) via contract configuration ### Why It Matters: Eliminates manual post-purchase adjustments that were error-prone and time-consuming. Previously, MPLs were charged the full accrued interest without accounting for borrower payments, requiring manual reconciliation. This automation ensures accurate financial reporting at purchase time and scales with growing loan volume. ### No Manual Steps Required: BPI collection is fully integrated into the standard purchase workflow—no additional action needed from partners. The feature is config-gated, so only enabled MPLs participate. ## Backup Purchase Account – Automatic NSF Fallback **Release Date**: 2026-07-30 The Selling Platform now automatically retries loan purchases against a backup account when the primary purchase account has insufficient funds. ### What It Does: - **Automatic retry on NSF**: When a purchase batch detects insufficient funds (NSF) on the primary debit account, the system automatically switches to the secondary purchase account if configured - **Seamless failover**: All transfers for affected loans are automatically rerouted to the backup account without manual intervention - **Pre-purchase balance check**: The UI verifies both primary and secondary account balances before enabling the purchase button, ensuring purchases can proceed even when primary accounts are temporarily low - **Config-driven**: Enabled per investor via the investor\_configuration table ### Why It Matters: Eliminates purchase batch failures due to temporary insufficient funds on primary accounts. Previously, an entire batch would fail if any loan's primary account had NSF, requiring manual intervention to either fund the account or reconfigure the batch. With automatic fallback, purchases complete successfully using the secondary account when available. ### No Manual Steps Required: NSF fallback is fully automatic for configured investors. When secondary accounts are set up and fallback is enabled, the system handles account switching transparently during the purchase workflow. ## OID (Original Issue Discount) – Automated Fee Disposition **Release Date**: 2026-04-20 The Selling Platform now automatically handles origination fee disposition at purchase time, moving fees from in-process accounts to partner income accounts. ### What It Does: - **Internal accounting entry**: Transfers origination fees from "in-process" GL accounts to "partner fee income" accounts at purchase - **No impact on MPL**: This is an internal CRB accounting operation—does not affect the MPL's purchase account debit - **Config-driven**: Enabled per contract via oidEnabled flag - **Financial Processing**: System automatically debits and credits the designated OID accounts through COS ### Why It Matters: Ensures proper accounting treatment of origination fees without manual journal entries. Fees are automatically moved from temporary holding accounts to their final income classification at the moment of purchase. ### No Manual Steps Required: OID disposition is fully integrated into the purchase transfer workflow—no additional configuration or action needed from partners once enabled. ## Selling update - Florida Stamp Tax Functionality Release date: 2026-03-15 ### Overview Selling automatically collects Florida Documentary Stamp Tax for loans originated in Florida. ### What It Does - **Tax Collection**: Florida Stamp Tax is collected based on the amount sent in Field 5 by the issuing MPL - **Collection Timing**: The tax is collected as a fee when the loan is funded. - **Financial Processing**: The system automatically debits and credits the designated accounts ### DMV Fee – Automated State Fee Collection **Release Date:** 2026-03-30 The Selling Platform now automatically calculates and collects DMV (Department of Motor Vehicles) fees for vehicle-related loans at the time of funding. **What It Does:** - Identifies auto loans requiring DMV fees based on loan product type and state regulations. - Collects the fee automatically when the loan is funded. - Debits and credits the appropriate accounts through COS to record the transaction. **Why It Matters:** This automation ensures compliance with state-mandated vehicle registration and titling charges without manual fee lookups or calculations, reducing processing time and improving accuracy. **No Manual Steps Required:** DMV fee collection is fully integrated into the standard loan funding workflow—no additional action needed from partners.MV Fee- The Selling Platform can automatically collect DMV (Department of Motor Vehicles) fees for vehicle-related loans, ensuring proper processing of state-mandated vehicle registration and titling charges. The fee is collected when the loan is funded - **Financial Processing**: The system automatically debits and credits the appropriate accounts through the COS (Central Operating System) to record the DMV fee transaction ## Selling update-Purchase Account selection for batches Release date: 2026-04-15 The Selling Platform allows users to **override the default purchase account** when creating a batch of loans for purchase. This provides flexibility to direct purchase funds from a specific account rather than using each loan's default configured account. ### What It Does - **Account Override**: Users can specify an alternative purchase account when initiating a batch purchase - **Batch-Level Override**: The selected account applies to **all loans in the batch**, overriding individual loan-level purchase account configurations - **Validation**: The system validates that the selected account is valid and available before allowing the purchase to proceed ## Selling update- Fee Sweep Release date: 2026-04-15 **Overview** Fee Sweep is an automated daily sweep capability in Selling that transfers available balances from your Cross River Bank account to your designated external bank account via Same Day ACH. **Setup & Configuration** - **Enable Auto-Sweep:** Auto-Sweep can be activated within your contract settings alongside existing Auto-Purchase options in Selling **Destination Account Details (Client-Managed):** You control the entry and editing of your sweep destination account information, including: :::Paragraph{listStyleType="disc" indent="2"} Routing number ::: :::Paragraph{listStyleType="disc" indent="2"} Account number ::: :::Paragraph{listStyleType="disc" indent="2"} Account name ::: :::Paragraph{listStyleType="disc" indent="2"} Account type (Checking or Savings) ::: **Real-Time Validation:** Upon entry, your routing number is validated immediately. If invalid, you'll receive an error message to correct before saving. **Source Account (CRB-Configured):** Cross River Bank will configure the designated source account from which funds will be swept. **How It Works** Once enabled, Fee Sweep operates automatically each business day: 1. At 6:00 AM Eastern, the system retrieves your available balance. 2. A Same Day ACH transfer is initiated to your designated external account. 3. The ACH description will appear as: **"CRB SWEEP MMM-DD"** (e.g., CRB SWEEP MAY-20). ## ## Selling update - auto purchase and SOFR **Release Date**: 2025-07-03 Auto-purchase: MPLs can choose to have the HFS purchase process run automatically without having to log in to Selling UI or call the API. This can be configured to run at a time between 10 AM and 6 PM Eastern. SOFR API: For partners that use Cross River Warehousing facilities, Selling provides a daily SOFR rate from the NY Federal Reserve. There are currently two available options: The daily SOFR rate as well as a daily 30-day average called SOFRAI. Graham Agee Sr. Product Manager, Lending *** ## Webhook update – ACH success message enhancement **Release Date**: 2025-05-15 We’ve enhanced the [RailUpdated](docId\:jXGfRbtNHOshrZJYHYKTo) webhook for ACH/ ACHSD rails to include the ACH trace number directly within the content.Message field for successful funding events. **What Changed:** - Before: `"Message": "LOAN"` - After: `"Message": "Description: LOAN Trace#: 021214890645262"` **Why It Matters**: This addition provides better traceability and aligns webhook data with NACHA record details, making it easier for partners to reconcile and audit ACH disbursements. **No Changes to JSON Structure:** The overall structure of the webhook payload remains unchanged, ensuring backward compatibility. Ari Pollack Sr. Product Manager, Lending *** ## Improving B2B integration: Cross River’s approach to partner data exchange ### Introduction At Cross River, we are focused on making financial technology more efficient for our partners. We understand that B2B data exchange can be complicated, especially in regulated industries like lending and payments. That’s why we are working on a **new approach to partner integration**—one that improves **data validation, schema flexibility, and user experience** to make collaboration smoother. ### The challenge: Static APIs and data complexity Most API integrations rely on **fixed JSON schemas**, forcing partners to adapt to rigid data structures. This can lead to inefficiencies, requiring partners to send redundant data, deal with validation errors, or go through multiple iterations before getting the integration right. Regulatory changes like **1071 compliance** add even more complexity, making flexibility important. ### Our solution: A more flexible schema management platform To address these challenges, we are developing a **new B2B integration platform** that allows partners to define, customize, and validate JSON schemas **more dynamically**. We are starting with our **Lending and Credit Card partners**, who face the greatest challenges in adapting to evolving data and compliance requirements. The key improvements include: - **Customizable Schema Structures** – Partners can use a **custom schema** that still meets our regulatory and business requirements, avoiding unnecessary workarounds. - **Real-time Validation & Error Handling** – With **JSON Schema-based validation**, partners receive immediate feedback on data quality before submission, reducing delays. - **Simple UI for Schema Design** – We are building a visual schema editor that makes it easier for partners to adjust data structures with no need for deep technical expertise. ![](https://api.archbee.com/api/optimize/4hvUOg5mU1sCngl0n0Has/qkSQ7CrdBCLGjcEATEysS_image.png) ### How lending and credit card partners can get involved We want to build this with input from our partners. As we refine our integration platform, we are inviting fintech companies and marketplace lenders to help shape the design. By participating, partners will gain: - **Early access** to our schema editor and integration tools - **A say** in how validation and structure should work for their specific use cases - **Faster onboarding** for new product offerings and regulatory changes ### Looking ahead We aim to improve how financial data is exchanged between businesses. With **scalable and adaptable integration tools**, we are making it easier for partners to work with us. If you’re a Lending or Credit Card partner interested in collaborating, we’d love to hear from you. Reach out to our team and be part of the **next phase of B2B integrations**. Amichai Lichtenstein Product, Lending *** ## Introducing COS lending selling Cross River Bank is excited to announce an enhancement to our Lending process, designed specifically for our valued Marketplace Lending (MPL) partners. The new solution streamlines the process of purchasing loans, delivering efficiency, transparency, and control. After the designated seasoning period, MPLs repurchase originated loans from issuing banks. With our enhanced Lending Selling solution, MPLs can access a user-friendly interface or integrate with our Lending Selling API . Log on in the morning and see loans scheduled to be purchase that day. Screenshot of log-in showing loans ready for purchase. ![](https://api.archbee.com/api/optimize/4hvUOg5mU1sCngl0n0Has/XtTz5vjuTZemfrlHnThFQ_image.png) ### Key benefits of the lending selling solution - **Simplified Loan Management**: MPLs can now log in to our intuitive Lending Selling UI to view and manage loans ready for purchase. - **Seamless Integration with APIs and Webhooks**: For firms seeking a higher degree of automation, our Lending Selling API enables direct access to the loan buyback process. Additionally, **webhooks** are available to provide notifications and updates, ensuring MPLs stay informed. - **Pre-Purchase Reports and Post-Purchase Receipts**: Easily access **pre-purchase invoices** and receive **post-purchase receipts** to enable reconciliation and record-keeping. - **Increased Efficiency**: The new platform minimizes the time and effort required to identify, assess, and complete purchase transactions. - **Improved Transparency**: With near real-time updates and detailed loan information, MPLs can make informed decisions and maintain control over their purchase process. ### Now live for HFS loans, with more to come We’re proud to announce that the enhanced Lending Selling solution is now **live for Held for Sale (HFS) loans**, enabling MPLs to immediately benefit from this streamlined process. Looking ahead, we will be expanding the platform to enable management of loans in a warehousing facility , ensuring full coverage to meet your needs. We’re committed to empowering our MPL partners with tools that make loan buyback processes faster, smarter, and easier. Whether you prefer the hands-on control of our UI or the automation of our API combined with the proactive capabilities of webhooks, Cross River Bank is here to support your success. For access requests, inquiries, or feedback, please don't hesitate to contact our dedicated support team at [arix.support@crossriver.com](mailto\:arix.support@crossriver.com). To access the UI, your user will need *COS Lending Selling *permissions from an allow-listed static IP address. Graham Agee Sr. Product Manager, Lending *** ## Introducing manual review UI: A synergistic addition to Arix's lending APIs We're thrilled to announce a significant milestone for Arix, CRB's loan validation and funding system. For the past five years, Arix has empowered Marketplace Lending (MPL) partners with an API-only integration. Today, we're excited to unveil a complementary addition: Manual Review, a UI designed to enhance the loan review experience and speed up onboarding. ### What's new? In response to your feedback, we've developed Manual Review, a UI that integrates with our API-driven system. Now, you have the flexibility to choose between API calls or intuitive UI interactions for loan management tasks. The system currently shows all the loans that have not automatically proceeded to funding. ### Key features 1. Dashboard: Gain comprehensive visibility into loans that are in the queue. 2. Actionable insights: Easily identify why a loan is in the queue, edit loan details or upload documents directly from the UI. These actions rerun the compliance engine. 3. Seamless transition: As an existing user, enjoy consistency and ease of use because all functionalities available via the UI mirror the capabilities of our Arix API. 4. Enhanced collaboration: Add notes to a specific loan, giving Bank Ops more information needed to pass a failed rule (coming soon)! ![](https://api.archbee.com/api/optimize/4hvUOg5mU1sCngl0n0Has/VpgFnU1TNySUISALm6ij5_image.png) As we celebrate this milestone, we're committed to further enhancing the Arix experience. In future releases, expect even more features and refinements aimed at optimizing loan processing efficiency and compliance management. ### Experience the difference today! For access requests, inquiries, or feedback, please don't hesitate to contact our dedicated support team at [lending.support@crossriver.com. ](mailto\:lending.support@crossriver.com)To access the UI, your user will need **Oversight **and **Loan Edit** permissions from an allow-listed static IP address. Here's to a future of seamless lending with Arix! Ari Pollack Sr. Product Manager, Lending *** ## Streamlining loan funding testing with “BypassRuleChecking” Building and optimizing a lending platform takes time—and testing should be frictionless. At Cross River, we’re making it easier for our partners to `validate loan funding and loan purchasing flows` **without triggering full compliance** **checks** in the sandbox environment. Now, by adding the "`BypassRuleChecking`" key in the **Field5 **JSON, you can bypass compliance rule checks during sandbox testing. This lets you focus on funding mechanics and iterate faster, without waiting on full verification cycles. Want to see it in action? Check out our [Field 5 attributes in Post /Loan](docId\:v8cArTCqMmQrYCIYHUf7f) page for details. As always, we’re here to help. Reach out with any questions. Amichai Lichtenstein Product, Lending *** ## Streamlining fair lending requirements with the Pre-approval UI We’re excited to announce the launch of our new web-based app for viewing loan application data that’s sent using our Fair Lending API set. This new user interface (UI) lets you view, sort, and filter loan application data, making it more efficient to access the information you need for successful implementation of our APIs. One of the major benefits the UI gives is the ability to view a large amount of data without the need to pull it via API. You can access the information you need without having to deal with any technical details or coding. The app is ideal for anyone who needs to review loan application data on a regular basis. It also makes onboarding to our systems easier. Here’s a view of a denied application, including the reasons the loan application was denied. ![](https://api.archbee.com/api/optimize/4hvUOg5mU1sCngl0n0Has/ShYGAM61JDYMSv_9EhdFn_image.png) Another benefit the new app gives is the ability to navigate through information, without being overwhelmed by the amount of data needing to be collected. This is sometimes hard to do in a single large JSON object. This image shows a drill down into an approved application that’s been accepted by the customer. ![](https://api.archbee.com/api/optimize/4hvUOg5mU1sCngl0n0Has/tcn98z-ECAa8sfLFnXusO_image.png) Overall, our new UI for viewing loan application data is a valuable tool for anyone who needs to access this information. Whether you're a loan officer, Fair Lending specialist, or just someone who needs to view data as part of your job, this new web-based app makes it easy to get the information you need quickly and efficiently. Ari Pollack Sr. Product Manager, Lending *** ## New mailing options for checks Hey API Developers, Engineers, and Product Managers! Great news from CR for Arix users! We're releasing an update to the check rail, offering more mailing options: 1. FedEx Express Overnight 2. FedEx Priority Overnight 3. FedEx Express 2 Day 4. USPS Overnight 5. USPS Priority "2 day" (delivery confirmation) 6. USPS Priority "2 day" (signature required) 7. USPS First Class - Canadian 8. USPS First Class - International 9. USPS First Class - US 10. USPS Certified Mail You now have the flexibility to choose the best option for your needs. Plus, for auto loans, checks will expire after 40 days, giving you more time to process payments. CR values your feedback and is committed to improving your experience with Arix. Head over to check out these fantastic updates and stay tuned for more! Happy lending. Amichai Lichtenstein Product, Lending *** ## Expanding possibilities: Arix welcomes wires and card payment rails to the family! Arix is thrilled to introduce two new rails to our [collection](docId\:GMP-Bavby6sAgCbQlLsJM), bringing our total to eight! 1. [Wires.](docId:3KsA-jsyJ0pCqtDdHl8sp) Effortlessly wire funds directly through Arix. Pricing will remain the same if you are using wires through COS today. 2. [Card payments](docId\:f6s7wNyFtdq1mMgxPPnzM). The Card Payment Rail allows you to send funds directly to credit cards. This can be used as a failover for RPPS rail for covering a wider network, or a stand-alone rail. These rails can be utilized through the Arix APIs, just like one would call the other payment rails. ### The case against the two-step solution The wide range of payment rails wasn’t always available directly in Arix. Workaround solutions were found by using the XPay rail for internal transfers and then sending funds from your account using another payment method. It's time to ditch the two-step solution. Here's why: 1. Efficiency Matters The two-step process introduces unnecessary complexity and increases the chances of errors. Direct wiring and card payment rails from Arix simplifies transactions, reducing manual reconciliations and potential failures. 2. Capture Every Loan Funding Event With Arix APIs, loan funding events can be seamlessly captured in one step, and in one system. No need to juggle between different systems, Arix ensures a comprehensive record of all your loan disbursements. ### Ready to transform your transactions? Upgrade your loan processing experience with ArixWires and Card Payment Rails. Explore the possibilities of these new additions, now totaling eight rails in our comprehensive system. ### Learn more Curious about how to sign up or want to explore these new features further? Reach out to your dedicated relationship manager today. They're here to guide you through the seamless integration of these rails into your loan operations. Ari Pollack Sr. Product Manager, Lending *** ## Unveiling the new Hooks UI: Elevating your connectivity experience We're thrilled to introduce a transformative update that takes our client-facing UI to new heights! Say hello to The New Hooks UI, where functionality meets self-service, and your control over notifications is taken to the next level. ![](https://api.archbee.com/api/optimize/4hvUOg5mU1sCngl0n0Has/_ad0oWkU9o_hzh0KA9YfP_image.png) Registrations can be restarted, so all failed events are resent. ### Empowering features 1. Interactive Connectivity: You can now create registrations for events, ensuring a tailored experience. 2. Troubleshoot with Ease: Encounter an issue? No problem. Troubleshoot historical data of events, dive into requests sent, and inspect responses from your system – all within a single, user-friendly interface. 3. Edit Registrations and Resend Events: Fine-tune your interactions effortlessly. Edit registrations, restart processes, and resend events on your terms. ![](https://api.archbee.com/api/optimize/4hvUOg5mU1sCngl0n0Has/BVGRyHA9p_Nw7OzgmKuMv_image.png) ### Empower your team, save your resources The New Hooks UI isn't just a UI update; it's a strategic move to empower your development team and save valuable resources. Faster troubleshooting means more efficient workflows, translating directly to cost savings for your company. The ability to resend events means that no events are lost, and even if the network is down, your system can be updated at a later time. Ready to experience the future of connectivity? Dive into The New Hooks UI today! Your Connectivity, Your Control. Ari Pollack Sr. Product Manager, Lending *** ## Streamlining fair lending My name is Ari Pollack and I’m a Product Manager on the lending team. I’m excited to announce the release of our newest set of APIs, Cos.Lending PreApproval. At this first stage, you can send application data to Cross River for all applications (originated, approved-not-accepted, denied, withdrawn, rejected, incomplete, and if applicable, in progress). ### Why is this necessary Regulatory agencies across the industry recognize how unique our business model is, and have been scrutinizing FinTech lending activities as it relates to Fair Lending. As a partner, expect an annual examination as regards fair lending, in addition to regular examinations. The bank’s prudential regulator, the FDIC, expects us to evidence collaborative data management practices between Cross River and its partners. ### Validation of data on submission Until recently, only approved and ready to fund loans were sent via API to the system. All other application information was sent daily, as files via sftp. Partners often received feedback from regulators, months and even years after the data was sent in which led to burdensome research to fix old data. With the new Application API, we validate each field on submission, and return instant feedback in the response of the API call. Required fields are enforced so that an application can be recorded. For example, the Approve API in the image below where an application is being sent in and marked as **Approved**. ![](https://api.archbee.com/api/optimize/4hvUOg5mU1sCngl0n0Has/07lURtvyIcoKCzSuWCvmy_image.png) In the API response you can see immediate feedback. The borrower had an illegal email address and the postal code was also not valid. Now, the submitter will know what needs to be fixed much earlier on in the process. ### Denial API For Fair Lending purposes, we are not only required to collect information about approved loans, but also for denied, rejected, or undecided applications. Below is an example of an application submission to the API with a decision of Denied. As you can see in the image, there is a list of denial reasons in the body of the API call along with the application itself. ![](https://api.archbee.com/api/optimize/4hvUOg5mU1sCngl0n0Has/aY31aM8T8Ekv9myOGUqun_image.png) ### Long term benefit **Ultimately, this API strengthens data governance and regulatory exam management processes.** While it will take some level of effort to integrate, the benefits of the API process include: - Eliminates or minimizes data errors - Enables an automated, real-time process to correct data errors and avoid burdensome research/ correction of errors after the fact - Facilitates proactive identification and management of compliance and fair lending risks - Allows more timely responses and adequate preparation for regulatory examinations - Ensures adherence to record retention and technical compliance requirements The FDIC expects to receive complete and accurate data in a timely manner during the regulatory examination process. The API process will go a long way in meeting those expectations and minimizing potential scrutiny by the examiners, which helps everyone involved. Ari Pollack Sr. Product Manager, Lending *** ## Check's in the mail Don’t start eulogizing the paper check just yet. Our “Check in the Mail” keeps gaining popularity. This release allows for scalability, security, and a better user experience for our partners. At the end of 2020 we launched our Check in the mail rail. MPLs use checks to give their customers the option of receiving funds or paying off their existing loans via a paper check. Very old school, yes, but our MPL customers jumped at the option. Our vendor, Checkbook, did a great job of printing and sending out the checks. Because of our architecture, they also managed the check clearing. As the volume increased though, relaying details of cashing, revoking, and expiring checks became a non-scalable procedure. ### Positive pay and COS clearing To address that issue, we needed to automate the clearing of the checks in-house. COS, our banking core, added a Positive Pay feature, and once the system integrated that feature, check events could be automatically handled. ### Cashing a check When a check is created, the system adds it to Positive Pay in COS and it has an expiration date. The check is then printed and mailed out by Checkbook. When a customer tries to cash the check, the fed notifies CR, and COS reviews the check. The check only gets cashed if all 3 conditions are met: 1. The check is on the Positive Pay list and matches the account information. 2. The check hasn’t expired. 3. The check hasn’t been revoked. The system can revoke a check if MPL Operations or the MPL wants to stop a check from being cashed. And, if any of the 3 conditions are not met, COS will bounce the check when someone tries to cash it. ### Return events Any event that stops a check from being able to be cashed, such as an expired event or a revoke, will create a return event for that check. After a return, you'll be able to request the funds again by check, or by another payment method. Should I state the obvious? OK, I will. Since the fed will now send the cash request to CR, cashed events will now be in real time. No tech changes required by our MPL customers. Relax and enjoy the improved experience. You may notice these features that we added: - Check number is now printed in the message field for easier tracking - Check image is now available to our MPL Ops once it is presented to be cashed Any failure to create a check will result in a return. This will allow the rest of the loan amount to be disbursed using a different rail. We are working with Checkbook on other possible mailing options (at present, only USPS). If you are an MPL that’s keen on disbursing via digital rails, of course we support those as well as payment rails. If a business opportunity arises that requires more traditional payment methods, we’ve got you covered. We’re not burying the paper check just yet. Ari Pollack Sr. Product Manager, Lending