ACH returns

Returned rail

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.

What happens in Arix when a rail is returned

Rail status

When a rail is returned, the status of the rail is automatically updated to Returned.

Loan status

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.

Webhooks

These webhooks are triggered for the rail and loan statuses:

  • LoanStatusUpdated (if the return causes the loan status to change)
  • RailUpdated

Loan funding

The loan funding information is updated accordingly in these fields:

  • ProcessedRails
  • ReturnedRails

Investigating returned rails

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.

Resubmitting a returned rail

To resubmit a returned rail, call PUT /FundingInfo with the correct details.


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