Loan Product Types in Intro XL First and foremost: Always confirm with your state’s regulatory body which loan products are permitted. Federal law prohibits pre-computed interest using the Rule of 78s for loans longer than 61 months, and 17 states ban such loans entirely. Intro XL supports two primary interest […]
Export loan agreement into Word (for E-sign Contracts)
Lenders may need to provide a sample contract in Word format to the state licensing body or as response to a legal request to provide sample loan agreement for review. For online lenders utilizing e-sign contracts in Intro XL: Identify a Loan to use as a sample. Go to : […]
How to add a debit card to a borrower or loan
Adding a debit card to an account is easy. You add the card on the loan details for borrower profile. Pro Tip: Doing a Pre-Authorization is a best practice. This will put a $0.05 hold on the account that will drop off after a few days. This is similar to […]
NACHA Rules for ACH
ACH Return Thresholds & Best Practices If you’re not actively monitoring these return statistics, there’s a good chance you may be exceeding the allowed thresholds. Here are some practical tips to help you stay compliant and protect your processing relationships: Never use ACH as a collection tool. For high-risk customers, […]
Adding a New Lead Provider
Go to Admin > Lead Sources Pro tip: Clone an existing lead source and update the name and password. Provide the following information to your lead provider. The company name is the acronym you use when logging into Intro XL. Think of this like a user id. <Company>XYZ</Company> <Storeid>1</Storeid> <Password>*******</Password> […]
Auto Debit Card Payments
We can auto charge a debit card on a loan. This auto payment happens everyday around 3:30am est. To view ALL “auto” and scheduled payments, use the Auto Schedule Report. The repayment method is Debit Card The repayment status must be set to “Debit Card”. The payment is due today […]
Work Flow for a New Lead
Working Leads in Intro XL When a lead is received in Intro XL, the applicant will be directed to the eSign page to sign the temporary loan agreement. They will also receive an email providing them with a link to sign the agreement. Example Email (Sent on 9/18/2019): Katie, please […]
Getting Started with Experian / Clarity
Once you have an account set up, we need the lender to: Provide us with the utility user id / password / Group ID / Account ID / Location ID / Username Password / Control File Name / Inquiry Trade-line Type Run a test with Clarity’s practice environment (Clarity will […]
Opt out your customers for text messaging
If a customer responds with any of the following, Intro XL will opt them out. “STOP” at the beginning of the text “remove” in the text “wrong number” in the text “stop texting” in the text Of course, you can always manually opt out a customer in their profile.
Auto ACH Rules and Windows
Intro XL – Automated ACH File Schedule (All Times CST) Note: Every payment processor has different official cutoff times. The schedule below reflects Intro XL’s automated processing times for sending ACH files to your processor. For your processor’s exact cutoff times, please reach out to them directly. Type Time(s) CST […]