LenderSuite: Summary of Loan Servicing Software Modules

We have written these brief descriptions to introduce you to LenderSuite and its modules. Regard them as a road map to greater productivity and maximized cash flow.

Loan Management System

LOANLEDGER is the manager of all our systems with a 9-level password system and this on-line database manager program provides the environment for full loan servicing, including:

Mortgages
Simple Interest
Rule-of-78
Commercial Loans
Construction Loans
Adjustable Rate Mortgages with graduated payments
Floating Rate Mortgages and Floating Prime Rate Adjustments
Credit Cards/Revolving Credit
Level Principal

... and of course, Investor handling with checks and 1099s as well as many US government reports. Automatic Tax and Insurance collection and reports. Payment coupons and monthly billings are automatically available to you. End of the year interest and late charges paid letter with 1098's included for all systems. You select daily interest calculation (from 0-700 days). We've added prepayment penalty calculation and payoff worksheets - plus a full amortization program for you to use as a what if... tool.

LOANLEDGER has a dedicated word processor that allows you to "mail merge" your customer database for collection and other letters and a full mailing label program. Oh yes, REPORT+ EXPRESS is a report writer that is sooo... easy to use. Just select the categories from the library that you want to see and it's yours. On-screen payoffs, customer inquiry, and credit ratings; 50 standard reports including the full Management Alert, Portfolio Yield Forecast, Risk Stratification, Unearned Discounts, Income Earned for the period and much more. LOANLEDGER is limited only by its two million! customer maximum, given your hard disk capacity with our multi-user version.

Debt Collection Software

COLLECTOR allows you to look at any borrower's complete history on screen. Puts all the information required to increase receipts and decrease delinquencies at your fingertips: property description, payment history, co-borrower information, user defined fields, the last "excuse" given for non-payment, as well as the last promised amount and date. Notepad integrates directly into LOANLEDGER.

So easy to use, the system helps plan your workday and your collectors' by automatically queuing the calls to be made and by generating reports for your follow up or handles an incoming call. Make a selection and it dials the telephone for you! Forty additional collection letters available at your fingertips.

Escrow Analysis Software

Adds tax and insurance accounting to the LOANLEDGER environment. Can do escrow analysis at any time during the year. On screen look up of impounds/escrows. Up to 10 unique fields per customer. Reports by category description or by payee number. Impound balance reports and agings. Check writing automatically updates the payee/vendor files.

Construction Loans Servicing Software

Allows you to track the progress of construction loans utilizing cost breakdown schedules. Easy up-to-the-minute loan analysis for both funding and payments. (C²), Cost Breakdown and Construction Summary and other reports provide necessary information on a loan's progress. Some of the information given includes amount budgeted, amount paid, percentage paid and completed, projected overrun, funds received, funds disbursed, balance and LIP available.

Variable Rate Mortgage Servicing Software

Floating Rate Mortgages - a very sophisticated tool for users whose rates can vary on a daily basis!! Interest is calculated from due date to due date. You have 99 different indices. Produces calendars of rates for each day of the year and every year if you want it. Lets you adjust payments as you require.

Loan Servicing Software For Simple Interest Loans

Floating Rate Simple Interest, like FLEX-RATE, this is a very flexible tool for users whose rates can vary on a daily basis. Interest is calculated from receipt date to receipt date. You have 99 different indices. Produces calendars of rates for each day of the year and every year if you want it. Lets you adjust payments and late charge amounts as you require.

Loan Servicing Software For Interest Only Loans

Three different types of "bullet" loans: INTERE$T allows you to select the option for

Simple Interest
Mortgage Style
Adjustable

Your payment each month is the interest only, and then at maturity, the principal is automatically moved to the payment. Reports include a future aging of maturity/principal collection. Also used for amortizing call loans. Eighteen new notification letters including ten fully customizable by you (these are also included with the MARGIN system).

Loan Servicing Software for Level Principal Loans

Adds to your system the ability to collect equal periodic principal instalments plus interest for simple or actuarial (mortgage) loans. Automatically adjusts and bills for the next periodic payment taking into consideration any extra principal reduction or short payments. With the appropriate module installed, interest can be tied to a daily floating rate with plus/minus margins. Calculates late charges appropriately on the varying payment amount.

Loan Servicing Software For ARMs

Adjustable rates with graduated payments - 99 different indices; unlimited scheduled rate changes with rate and payment caps for each. Among several new reports is a negative amortization report to warn you of loan-to-value compression and other limits. Automatically adjusts payments and late charges as appropriate.

Loan Servicing Software For Participating Loans

M/BANKER gives LOANLEDGER the ability to link fractionalized/participating investors to any or all loans in the system, up to 9000 investors on a single loan, with a total limitation of TWO MILLION investors. The important Investor Ledger gives you an instant snapshot of the investor's holdings and portfolio. As transactions flow through LOANLEDGER they automatically update investor files, produce checks to the investors and ultimately generate 1099's at the end of the year. New reports are available including a "Net Yield" synopsis for each investor.

Loan Servicing Software For Revolving Credit

Equity Lines/Revolving Credit - provides credit screening and control on incoming additions to a portfolio. As you purchase or pay out transactions, the system updates the loan customer file, automatically updating the accounts payable client file and letting you control payments. Whether your paper is recourse or not, this can handle it. Strong marketing reports for analysis of your incoming business. Additional controls for over/under credit limit, minimum required payments, detailed monthly billing with four different, selective message banks for marketing or collection tools. On screen inquiries, payoffs, credit approvals. Mortgage-backed credit cards! User-definable fields. Help screens and windows.

Loan Workouts for Irregular Payments

Allows you to schedule a stream of negotiated payments, which can differ from the original contract agreement. For example: Have the interest accrue at the original note rate, yet collect at a different pay rate. Each payment can vary from the next. Schedule fixed principal reduction, or no payments for any given period. Weekly, bi-weekly, semi-monthly, monthly, quarterly etc. whatever your customers' cash flow allows for repayment. You design the payment and principal return schedule.