Loan Servicing Software For Revolving Credit - Equity Lines
Servicing Commercial Lines Of Credit
Revolving credit lines can be lucrative revenue generators or financial management fiascoes. OPEN$LINE eliminates the downside by handling the complicated calculations associated with these loans, making interest accruals effortless.
OPEN$LINE puts you in complete control of home equity lines, credit cards, commercial lines of credit and revolving credit accounts. It warns you of delinquent accounts, greatly increasing your company's collection results. OPEN$LINE makes managing your loan portfolio remarkably easy.
This module calculates individual repayment schedules, late charges and periodic renewal fees for each borrower. In addition, each borrower can be assigned a credit limit, which can be adjusted during the life of the contract.
Each borrower receives a detailed monthly billing statement. OPEN$LINE automatically updates customer files and allows for payoff quotations when answering inquiries.
Software Features
- Adds revolving credit functionality to your system
- Branded credit cards
- HELOCs
- Equity Lines
- Commercial Lines of Credit
- Credit limits for your approvals
- Handles advances and purchases
- Detailed monthly billing
- Individual cut-off dates
- Individual repayment schedules, late charges and period renewal for each customer
- Multiple marketing messages that you can customize for statements
- On screen payoffs and inquiries
- Automatically updates customer files
- Assignable minimum payments
- Help screens and windows
- Works with FLEX-RATE to handle variable rate lines of credit
- Reports include:
- Customer Status Report
- Special Agings
- Sales Distribution Report by Account
- Sales Distribution Report by Transaction
Experience a free, personalized loan servicing software demonstration over the Internet.