Setup - Credit Card Processing

The Credit Card Processing section is optional.

A stripe account must be set up and the product key must be provided to the LoanCatcher℠ tech team prior to leveraging this option. Review the Setup - Borrower Credit Collection Option (Stripe)procedure for additional steps.

This function allows LoanCatcher℠ to use Stripe for credit card processing to collect a fee before a borrower pulls credit; Credit Pull Option - Allow Borrowers to pay for Credit.

Add New Vendor

• Select the vendor.

  

  Stripe is the only available option for this feature right now.

Fee Amount

• Enter the amount to charge a client for pulling the credit report and click Save.

• Stripe has a placeholder for only one fee amount, therefore only one fee amount can be entered and used for charging all clients for any type of credit report.

Example: If your company pulls individual and joint credit reports, Stripe can only be set up to charge one flat fee. Therefore, it is recommended your company sets up the lesser of your credit reporting fees, however it is your company’s responsibility to remain compliant.