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.
COS Lending Selling
Screenshot of log-in showing loans ready for purchase.
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 [email protected]. 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