Press Release

Welcome

This press release is provided by Dynamic Interface Systems Corporation (DISC), creators of LOANLEDGER, the world's leading supplier of loan servicing software for microcomputers. Since 1982, DISC has provided loan software, collection software and other sophisticated yet affordable products for lenders and financial institutions. Nearly half of the Fortune 100 Companies use LOANLEDGER.

To find out how LOANLEDGER Loan Servicing Software can greatly enhance all of your lending activities, please call (310) 568-4567.

Electronic Check Clearing Now Available For New 'Check 21' Law

Consumers will revolt. Your customers will complain. Our whole paper-based check payment system will be in turmoil. But the Check Clearing for the 21st Century Act (“Check 21”) allows that, as of October 28, 2004,all checks be ‘truncated'. That means scanned images will replace canceled paper checks as legal proof of payment, and consumers (and businesses) will stop receiving their canceled paper checks with their monthly statements. This directly affects you; and you know how important large volumes of checks are to your business.

ScanOnce is the only automated interface between a PC-based loan servicing system and the Federal Reserve System. Dynamic Interface Systems Corporation (DISC), the world leader in loan servicing software for Microsoft Windows, has integrated ScanOnce into the latest version of its flagship product, LOANLEDGER. Not only does ScanOnce give you full compliance with Check 21, it can automatically ELIMINATE HALF OF ALL YOUR LOAN SERVICING COSTS! Just imagine: a single pass through the check scanner and you automatically collect your funds from the borrower's bank account, credit the borrower's loan account for the appropriate principal, interest and servicing charges, and 14 days later, you simply destroy the old original check. Virtually no data entry fuss. No key punch errors. No clerks filling out deposit slips. No bank charges for handling paper checks. What if you never again had a bounced check?

Years ago, FNMA estimated that loan servicing costs $4.30 a month... per loan. It's got to be more than that now. But even assuming the old estimate, how much would ScanOnce save you? Eliminating half the cost—say, just $2.00 a month, times 12 months, times the number of loans you have...you do the math! So much for theory.

The US Government and the banking system aren't giving you much choice: 'Comply or die. You choose.' Since truncated checks are, by law, the wave of the future, the sooner a lender begins this new system, the more money he can save. With ScanOnce, any lender can launch ACH transactions, sending them into the Federal Reserve System with not much more than a modestly priced, leased scanner.

And, here's the practical part: ScanOnce is FREE to LOANLEDGER users. Call our toll-free number (800) 998-DISC (3472) to see what you need to become involved.

Questions / Comments

If you have questions or comments, please write to info@loanledger.com