Commercial Loan Servicing Software

Commercial Loan Servicing Sofware

Application Tracking

Complex Loan Support

Extensive Loan Info

Flexible Support

Multi-Basis Accounting

Delinquent Loan Support

Investor Tracking

Investor Reporting

Project Tracking

R.E. Asset Management

Risk Management

Powerful Sub-Systems

Benedict Group has been an industry leader in enterprise loan servicing software since 1990. In partnership with one of the nation’s largest insurance companies, we first released our LOANS! software at that time for the servicing and accounting of commercial loans.

Since then we have enhanced LOANS! continuously with input from clients, using the latest technology, expanding its functionality, and making its interface extremely easy to use. As a result, LOANS! is now ideal for commercial lenders, multi-family housing authorities, economic development agencies, credit unions, insurance companies, consumer loan providers, and structured settlement companies.

Supporting our software is a staff of industry professionals with many years of expertise. With LOANS!, you will be provided with one point of contact to handle all your support needs – a person familiar with you, your company, your loans, and your current requests.

In short, with LOANS! For .Net, you will receive a quality loan servicing software and accounting system with the knowledge that we will help you make it whatever you want it to be.

Please review the list of major system functions and features below.

Application Tracking

· Entry and tracking of loan applications.

· Application check list monitoring.

· Automated link of application data to loan servicing at closing.

· Unlimited borrowers per application.

· Unlimited properties per application.

· Unlimited investors per application.

· Tracking of offering and closing data.

Support for Many Complex Loan Types

· Adjustable rate.

· Canadian interest.

· Commercial.

· Consumer.

· Construction.

· Discount/premium.

· Home equity.

· External.

· Farm.

· Fixed rate.

· Floating rate.

· Graduated equity.

· Lease.

· Multi-family.

· Multi-part

· Refinance.

· Reverse.

· Structured settlement.

· Variable rate.

Extensive Loan Information

· Multi-company and multi-division support.

· User-defined loan templates with automated processing based on loan type.

· Agents.

· Address changes.

· Bank accounts.

· Bankruptcy information.

· Borrowers.

· Collateral.

· Collections information.

· Default interest.

· Escrow accounts.

· Fees.

· Foreclosure information.

· Incentive plans.

· Insurance policies.

· Investors.

· Late charges.

· Loan classifications.

· MIP schedules.

· Pending changes.

· Prepayment penalties.

· Properties.

· Subsidies.

· Taxes.

· UCC filings.

Flexible Loan Servicing Support

· Support for complex and flexible interest calculations.

· Automated loan changes, including from fixed to variable rate.

· Direct and agent billing, with monthly, quarterly, semi-annual, annual, and user-defined payment periods.

· Flexible ARM and VRM Processing.

· The automatic implementation of loan changes such as from fixed to variable rate, interest resets, and varying payment amounts.

· Construction loan processing.

· Collateral tracking for an unlimited number of collateral types.

· Multi-payer processing for subsidized loans, with independent tracking of borrower payments.

· User defined fee processing, with unlimited fees per loan.

· Cash and Non-Cash Payment Processing.

· On-line entry of cash and non-cash financial transactions.

· Online transaction reversals, with the ability to auto-generate new transaction entries.

· Transaction date and effective date processing.

· Scheduled transactions including disbursements, principal paydowns, and deferred interest payments.

· Support for both manual and automated principal disbursements.

· Automated interfaces for ACH and lockbox processing.

· Loan sales and transfer support, with unlimited investors per loan, and multi-level reporting.

· Financial reporting by loan and investor.

· Suspense balance processing.

· User-defined payment application sequences by division and/or loan (e.g. late charges, principal, interest).

· Insurance, Tax, and Escrow Processing.

· Insurance and tax tracking (with and without escrow).

· Escrow processing with unlimited escrow balances per loans.

· Escrow on items other than insurance and taxes.

· Escrow forecasts by month.

· Vendor payments by check, ACH, or wire transfers.

· Escrow analysis with calculated escrow amounts per loan per taxing authority.

Multi-Basis Loan Accounting

· Financial reporting on a statutory, GAAP, tax, or other user-defined basis.

· Cash and accruals accounting, with multi-basis reporting.

· Automated processing support for loans purchased at a discount or premium.

· Extensive reporting, including accounting, regulatory, and investor reports.

· Schedule B reporting (insurance companies).

· Cash receipts, transaction, delinquency, trial balance, and other key reports.

· Month end recording of key loan status information.

· Automated interfaces to external general ledger system, with user-defined filters and account numbering.

· Support for year-end tax filings and UCC filings.

Delinquent Loan Monitoring and Restructuring

· Multiple options for the automatic calculation of late charges.

· Bankruptcy tracking.

· Multiple types of loan holds.

· Collections support with the auto generation of delinquency letters.

· Automated integration with LOANS!’ Workflow Management sub-system for additional delinquency tracking features.

· What-if restructuring support that includes the automated deferral or capitalization of interest, and the ability to automatically apply your approved changes.

· Automated support for workouts and write-downs.

Investor Tracking and Reporting

· Unlimited investors and/or participants per loan.

· Up to three levels of investor participation (e.g. company, product line, product).

· Extensive financial reporting by loan and investor.

· Financial transactions and month end accrual information by investor.

· Loan sale and transfer history.

Project Tracking

· Project tracking support.

· Ability to track unlimited loans per project.

· Master and subordinate loan tracking.

· Risk management by project.