Personal Loan Servicing Software:

Personal lending features include:

• Term Length: Supports 10 year, 15 year, 30 year or any designated number of payments.
• Escrow Accounts: Track property taxes and insurance escrow accounts. Print escrow reports to analyze escrow shortage or surplus.
• Payment Frequency: Weekly, bi-weekly, semi-monthly, monthly, bi-monthly, quarterly, semiannual & annual payments.
• Interest Method: Calculate interest based on a wide variety of parameters: fixed interest, variable days interest, variable interest rate, 360 or 365 day year, simple or compound interest.
• Payment Application: Full control over how payments are applied. Apply extra payment amounts to future payments or to reducing principal. Accepts principal only payments as well. Disburse payment amount between various charges including: late fees, escrow charges, and principal/ interest.