Interest Only Loan Servicing
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 amortizatioin 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
