loan Center

Description

Chattel loan servicing software accommodates various types of loan structures and schedules, generates amortization schedules, produces loan billing statements, performs recalculation for prepayments, and provides 1098 reporting.

Key Features 

  • Ability to track loans in separate module, so amortization schedules can be set up and payments tracked.

  • Ability to create escrow analysis for insurance and tax impounds

  • Tracks insurance and tax impounds/disbursements, if applicable

  • Offers a quick-view dashboard that displays key metrics

  • Produces loan billing statements, which can be incorporated into your residents’ fully integrated bills

  • Company personnel may view loans, post payments, edit payments, edit ledgers, post payoffs, view all details about the loan, and add/view notes to the Resident Loan Ledger.

  • Includes comprehensive, ready-to-print web reports (both stock and custom) with drillable detail—which can be converted to, and opened directly in, Excel

Posting Loans to Loan Ledgers

  • Clients may accept one or two rent checks for the loan and rent payment with monies deposited in the same account or separate accounts. The rent check funds are posted to the Resident Ledger; the loan check funds are posted to the Resident Loan Ledger.

  • If a loan payment is being made to an entity and/or bank account that differs from the community entity or bank account, the payment can also be made by the Corporate User entering the payment information into the Loan Center.

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Accounting & Reporting