FEATURES & BENEFITS
LoanAssistant Features & Benefits
LOAN MANAGEMENT
Lender and/or Borrower side servicing.
Service an unlimited number of loans and credit lines.
LoanAssistant covers most segments of the lending industry:
- Education Loans
- Installment Sales
- Investor Participation
- Structured Finance
- Legal Settlement Loans
- Inheritance Loans
And Much More..
SEAMLESS QUICKBOOKS® INTEGRATION
- Simple Intuitive Integration with an Unlimited Number of QuickBooks® Online and QuickBooks® Desktop Companies
- All Transactions Are Posted instantly in QuickBooks®
- Combined Report of Loan Portfolios from Different QuickBooks® Companies.
- Keep your QuickBooks® Companies Well Organized and Updated in Real-Time
REPORTING FEATURES
- Amortization Tables and Payment Coupons
- Customizable Comprehensive Billing Statements
- Customizable Pay-Off Statements
- Customizable Borrower Account Statements
- Managerial Reports
- Payment Summary Reports
- Escrow Collection and Payment Reports
- Late Accounts Summary and Payments Due Reports
- Portfolio Summary Reports
- IRS 1098 and 1096 Forms - Automated Data Collection/Reporting to Borrowers (Form 1098) and Mortgage Interest Statement (Form 1096)
- Custom Reporting Module - Create Your Own Reports
- Access to a Wide Range of QuickBooks® Reporting Capabilities.
FLEXIBLE LOAN SERVICING SUPPORT
- Assign multiple borrowers and guarantors to a single loan
- Escrow module for third party payments such as taxes, insurance, etc.
- Multi-user network set up
- LTV tracking with multiple collateral items referenced to specific accounts
- Multi-currency support, including reporting
- Tracking notes/images can be stamped with the user name and date for audit purposes;
- Tasks/images and deadlines assigned to different users through Microsoft Outlook
- Up to three levels of security for administrators
- Assign multiple borrowers and guarantors to a single loan
- Escrow module for third party payments such as taxes, insurance, etc.
- Multi-user network set up
- Keep your QuickBooks® Companies well organized and updated in real-time.
- Modification of loan parameters
INTEREST CALCULATION OPTIONS
- Cash Basis / Accrual Accounting
- Self-Amortized, Balloon and Interest-Only Loans
- Interest calculation based on Actual/365, Actual/360 and 30/365, 30/360
- Interest Compounding with Flexible Settings
- Support for Adjustable-Rate Loans with Periodic and Random Rate Changes
- Interest Deferral and Non-Interest-Bearing loan amounts
- Fixed Interest Amount
INVESTOR TRACKING AND REPORTING
- Tracking of Investors’ Certificates of Deposits
- Participation Pools with One or Multiple Investors
- Investor Allocation Based on Fixed Percentages or the Amount of Capital Invested
- Multiple Management Fee Options Automatically Recorded in QuickBooks
- Export Comprehensive Investor Participation Reports into Excel