State and Federal regulations dictate that loan servicers provide borrowers with timely notices, and our HELOC/Revolving Credit module helps you generate those notices automatically. It also serves as an informative management system, delivering robust reports on-demand and with minimal user input. With this module, you can:
- Assess finance charges and generate billing statements in a single step
- Generate detailed account activity, summarized information and finance charge calculations
- Automate the entire draw process
- Generate notices and informative management reports at any time
This module automates crucial notices on a regular schedule and for relevant account events so that you don’t have to do them manually. And if you have multiple funding sources, the built-in assistant will accurately distribute mid-month cash advances to multiple sources or lenders, prorating disbursements accordingly. Everything is efficiently coordinated, automating tedious tasks that would otherwise be eating up staff time.