Interest Only Loan Servicing Software
Points, Balloons, Monthly Interest, Partial Amortization, Strategic Reports
The INTEREST loan servicing module adds calculations for interest only payments and principal at maturity. INTEREST services interest-only loans, partial amortization loans, negative amortization loans and accrues unpaid interest on simple-interest loans. The INTEREST loan servicing module automatically moves balances to payment amount when due.
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- Generates all the reports and notifications associated with balloon notes
- Handles partial amortization, call loans and balloons
- Allows for adjustment of payments, rates and late charges at any time
- Shares dedicated word processor with eighteen notification letters
- Strategic Reports that can be incorporated into letters:
- Payoff Demand Letter
- Maturity Notice
- 30 Day Solicitation
- 60 Day Reconveyance Request
- 90 Day Reconveyance Notice
- 120 Day Notice of Balloon Payment Coming Due
- Request For Full Reconveyance
- Rate Change Notification
- Balloons Due
