Auto collection services

Automated collection services can be configured  by investor and by loan product, and include the following:

  • Applying payments for multiple loans
  • Possible late loans forecasting
  • SMS notification about forthcoming and late payments (multiple templates, multiple loans)
  • Delinquency letters preparation (multiple templates, multiple loans)
  • Default letters preparation (multiple templates, multiple loans)
  • Automated track record in loan file about actions completed
  • Automatic loan risk group assignment ( 30, 60, 90, 90+)
  • Automatic non-accrual status assignment for late loans depending on configuration
The system supports variety of  payment processing methods, including:
  • –Interest only payments
  • –Payment holiday  (interest capitalization)
  • –Different priorities while applying principal, interest, and penalties
  • –Apply to suspense
  • –Apply with delinquency
  • –Apply for multiple periods
  • –Wave penalty or default interest
  • –Postpone  interest