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Loan Management ™
LeaseTeam’s Loan Management solution offers users full loan accounting functionality combined with greater flexibility in structuring loan contracts. This product provides both traditional and non-traditional lenders with the opportunity to easily manage their loan business, resulting in better diversification, increased growth and higher profitability.
How it Works
Loan accounting differs from lease accounting in that loan accounting carries only the unpaid principal balance and interest that has accrued, while leases carry a grossed-up receivable balance offset by the projected future income to be recognized. Using the Loan Management tool, both accounting methods can be handled seamlessly within the same system. Full integration of this functionality also allows you to service and report on both your leases and loans using a single integrated software system. Within this functionality, numerous options are available to let you customize payment terms to meet your customers’ needs. The result: The Loan Management tool can handle even the most complex transactions. Just enter basic loan information and it generates accounting entries that will ensure accurate income and expense figures throughout the life of the loan.
Harnessing the power of the T-Value engine, this solution offers you full flexibility in establishing the terms of your loan contract, coupled with full loan accounting. Features
include:
- The option to calculate interest using actual daily balances or using a fixed amortization schedule
- The ability to handle zero-interest and interest-free periods
- Fixed and variable rate structures and the ability to have both on the same contract
- The ability to handle same-as-cash structures
- Interest only, fixed principal and interest and regular principal and interest payments and the ability to mix and match on a single contract
- User-friendly methods of applying mid-term adjustments and principal paydowns supported by full change history tracking
- Servicing, accounting, reporting and exposure determination that seamlessly combines both leases and loans
The Loan Management solution enhances LeaseTeam’s powerful lease portfolio capabilities, extending that functionality to loan structures. When you service and report on both your leases and loans using a single system, your opportunities are limitless.
Key Benefits
The Loan Management software makes portfolio management a breeze, allowing you to easily handle your customers’ contracts (both leases and loans) from initiation to payoff.
Loan Management offers users flexibility in interest rates; methods of amortization; interest calculation methods; payment schedules; methods of incorporating mid-cycle changes; upfront event handling; setup for future dated loan events; recognition of income lost; and principal adjustments, modifications and payoffs.