HDS Loan Servicing Portfolio Management
HDS' LOAN SERVICING PORTFOLIO MANAGEMENT SYSTEM is adaptable to multiple loan amortizing and non-amortizing products. This ability to manage a portfolio of traditional and non-traditional loans makes this HDS product unique. The HDS Loan Servicing System can be used as a standalone product that can integrate with third party software, or simply as part of the HDS Enterprise Solution. In either case, this system allows agencies to track important loan data including borrower, co-borrower, property, and funding source. The system flow is organized for ease of use, with all information readily available. The HDS Loan Servicing Portfolio Management System features customizable views which give the agency's users the flexibility to display, sort, and query on many general loan fields. This allows the agency to report on and group data in the loan portfolio at-a-glance.
The software has full capture of individual BORROWERS AND CO-BORROWERS, as well as ENTITIES AND ORGANIZATIONS as borrowers, including demographic data. Property information can pertain to any property type, including Single Family, Multifamily, Cooperative, or other special type. As a result, a loan record can contain multifamily project property information as well as single family property information.
TRANSACTION PROCESSING
PAYMENTS: The system allows the user to process full, partial, short, and unapplied payments. The Payment Application Screen displays a complete payment breakdown and allows for additional payments to Principal, Escrow, and Replacement Reserve. Payment Reversal Processing provides the ability to automatically reverse the last posted payment on a loan. Additionally, the system provides the ability to process an NSF Reversal which will automatically assess an NSF fee once the payment is reversed.
FEES: Here the user has the ability to specify various loan fees, including late fee, insufficient funds fee, service fee, trustee fee, and prepayment penalty. All applicable fees are automatically assessed by the system. One-time Fees functionality allows for non-recurring fees, such as legal fees, to be automatically assessed to loans. The system has the ability to automatically reverse any assessed fee.
DRAWS/DISBURSEMENTS: The Draws/Disbursements functionality makes it easy to manage your construction-style loans. The system allows users to track both expected and approved disbursements, and as disbursements are approved, loan principal balances are automatically updated. The system will reflect all disbursements in accrued interest calculations, ensuring accurate payment processing.
ADJUSTMENTS: This functionality allows users to change any loan balance by a specified amount.
TRANSFER PROCESSING: The Transfer functionality allows funds to be transferred from the Escrow, Replacement Reserve, and Unapplied accounts to any other account.
PAYOFF PROCESSING: The System provides users with a utility for processing payoffs. The utility calculates a payoff through a selected date with the option to net out Escrow and Replacement Reserve balances. Users can also print a payoff letter containing all payoff details.
Within the Loan Servicing System, users will also have ability to perform Insurance Tracking, Escrow Management,, Delinquency Tracking, and Record all instances of communication via communication logs.
Add On Modules available to the Loan Servicing System include Bankruptcy Management, Foreclosure Management, and IRS Reporting.
