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A full-featured loan portfolio management application that tracks loan principal and interest accruals, payments, late fees, and other fees/costs, charges, or credits.
You can set up individual billing instructions for each loan account and generate bills & past-due notices for normal P&I, interest only, or FIXED principal payments plus accrued interest on a monthly, quarterly, semi-annual, annual, weekly, bi-weekly, or semi-monthly basis.
Payoff amounts are always available (with the current PerDiem), as are accrued interest, late fees, and other fees/costs due, along with interest paid year-to-date & life, late fees paid year-to-date & life, and other fees/costs paid for life.
A complete loan portfolio management application that tracks loan principal and interest accruals, payments, late fees, and other fees/costs, charges, or credits. It can also handle all the billing functions for loan accounts with set repayment schedules. The program is useful in maintaining and reporting active loans as well as non-accrual and/or charged off accounts. The software is available in two 'flavors' --- the LITE Edition does not include the 'Billing' functions/features present in the Standard edition (since I don't believe in making users pay for capablities they don't need!). The 'LITE' edition will not display the Billing Info and Outstanding Bills tabs on the main data form, and associated 'Billing' reports, etc. will be disabled.
ALL program functions are operational in Evaluation mode so you can decide if they are useful to you and your organization ... when you register the software you will be issued a 'Standard' or 'LITE' Edition license based on your order and payment. Some of the major features include:
All account names and account numbers in a Loan Trak Pro file are displayed in a 'sortable' (and searchable) listing on the left side of the data form, with the selected account's data (Customer, Transactions, Billing Info, and Bills Outstanding) shown on the right.
The account listing's 'search field' allows you to locate individual records quickly, even in large files.
Interest can be accrued using a 365/365, 365/360, or 360/360 accrual basis for each individual Customer. Starting with version 4 you can also choose between a fixed or floating interest rate type.
Payoff amounts are always available as of the current date, along with a Per Diem interest amount to quickly compute a payoff for a future date.
Current interest due is automatically maintained, as well as any late fees due, other fees/costs due, interest paid year-to-date & life, late fees paid year-to-date & life, and other fees/costs paid during the life of the loan.
End of period processing will automatically accrue interest to date (using the interest rate 'basis' and 'type' for each Customer) for ALL accounts in the file.
[Std. Edition only] Individual billing instructions can be set up for any Customer account in your files to include billing date, frequency of payments (monthly, quarterly, semi-annual, annual, weekly, bi-weekly, or semi-monthly), maturity date, option to charge late fees on delinquent payments, and either interest only, constant P&I, or constant fixed principal PLUS accrued interest.
[Std. Edition only] The Billing Information window will automatically maintain the current status of each customer, reflecting the oldest-due and next-due dates; interest, principal, late fees and other payments currently due; and scheduled & current principal balances.
[Std. Edition only] Bills are automatically generated and printed indicating the payment due date, interest/principal/late fees/other due for the current & past-due periods, and formatted with your company name & your customer's name and address for mailing in either single or double window envelopes.
[Std. Edition only] When bills are generated the corresponding data is automatically posted to the Customer's Transaction records indicating that a bill was generated, along with the billing due date and interest accrued. Likewise, payments posted as a new Transaction will automatically update the related Billing records (unless you choose to override this for an individual Transaction).
Built-in reports include...
· Listing of Records by Account Name, Account number, or Servicing Officer
· Trial Balance by Account Name, Account number, or Servicing Officer
· Loan History (all Transactions for the life of the loan)
· Statement of Account (using the time period you specify)
· Posting Journal for the current day, month, year, or any period using the dates you specify)
· Base Rate Index history (if you've enabled the 'Floating Rate' feature of the program)
· Rate Change Notices for floating rate accounts are generated whenever you change the Base Rate Index
· Receipts for payments collected from Customers
· Interest Paid Year-to-Date by Account Name or Account number, which includes each borrower's address and Tax ID number (if you entered that info into their 'Contact' record).
· [Std. Edition only] Billing Information Summary Report showing the payment/billing 'setup' for each Customer in file.
· [Std. Edition only] Outstanding Bills (for all Customers in file or an individual Customer)
· [Std. Edition only] Past Due Report by age of delinquency, Account Name, Account number, or Servicing Officer.
· [Std. Edition only] Reprint Old Bills (either the last 'set' generated or individual bills, even if no longer a part of your 'active' file)
· [Std. Edition only] Past Due Notices (either by themselves or in conjuction with the printing of new Bills)
Full print preview with user-selectable fonts and user-selectable paper sizes.
Context-sensitive online Help always available, including right-click pop-up help boxes for the specific data fields
New 'wizards' will help both new and existing users with their Customer and Billing Info/Bills Outstanding record setups, walking you through the necessary data entries in easy steps. The New Billing Info Wizard [Std. Edition only] also incorporates an option to import the Billing data from an existing Lender's ToolBox (v6 or higher) amortization file!
Data files are MS Access97 (& higher) compatible, allowing you to design custom reports using MS Access or other database management programs. (A File Conversion Utility is included to convert your existing v3.x data to the new file structure.)
You can now use multiple data files if you want to maintain separate records for branch offices, subsidiary companies, etc. Just open the file you want to work with and it's data will be loaded & displayed on your screen.
Major Version registration license remains valid for all minor upgrade releases (4.1, 4.2, etc). |
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