Loan Service Plus
The Loan Service Plus system offered by FAS is one of the most comprehensive applications on the market today. The application, designed around a portable system manager, runs on almost all types of Windows based operating systems, will effectively and efficiently handle up to 16 million loans, and will incorporate from one to an unlimited number of concurrent users. The base system is designed to manage standard financing; however, multiple options allow the package to be tailored to accommodate needs including creative financing, construction loans, mortgages, agricultural (seasonal), commercial, installment, student, and lease/loans. Many of these features cannot be found in competing software costing a quarter of a million dollars.
The ability to effectively handle all loan transactions is included in the base package with 13 different transaction types: New (opening), Regular payment, Odd payment (partial payments), Disbursements,Principal added, Interest added, deferraL, Extra principal only payment, Variable rate (interest) adjustment, Mark-down (discount or partial charge-off), Write-off (charge-off), Closing, and automatic reversals (X).
The ACH option adds three additional transaction types: ACH (Automated Clearing House) Auto Payments, Final ACH (Close) Transaction, and ACH automated reversals (Z).
Over 125 reports are provided. One-time entry of Customer Information is permitted, with multiple loans associated with a single customer record. Customers may be sorted by class and/or type. Loan Information may be sorted by class, type, and loan officer, with class being tied to General Ledger accounts for interfaced posting. Partial payments are calculated with ease, with the ability to configure the order of payment distribution (i.e. Interest, Principal, Late Charges, and Escrow). Any item not fully satisfied will be carried over and will reflect in reporting and subsequent payment requirements. Past Due Notices may be generated at any time, with global late charges or individual rates, and past due reports can be produced using any date window. Reports may be sorted using date ranges, class, type, or loan officer where applicable. The Loan Service Plus system is very flexible; it also works well as a Loan Charge-Off system. Any configuration for the system may be requested considering the following options:
Available Options, most included in purchase: