Banking Software: Loans and Mortgages

Loans and Mortgages (Circa 2010): The Strong get Stronger

SIT customers continue to get stronger despite the mortgage meltdown "infection" that has affected the world economy. Why? For starters many of our customers fund their loans with SIT's term deposit system (as opposed to securitization). Secondly, because the lenders who depended on securitization to fund their loans became weaker — many have withdrawn product offerings. The result? SIT customers become stronger.

Don't Forget Product Innovation

In addition to securing a solid funding source — product innovation also counts for a lot. Manulife Bank, with its Manulife One product, is a great example of an SIT customer that continues to thrive in the current economy.

If you're considering a new loan or mortgage software platform — consider SIT. You'll be in good company.

Portfolio Plus: Sample Loan Types

• Residential Mortgages
• Commercial Mortgages
• Construction Mortgages
• Variable Rate Mortgages
• Introductory Rate Mortgages
• Second and Third Mortgages
• Lines of Credit
• Car Loans
• Inventory Loans
• Government Loans
• Letters of Credit
• Loans with Balloon Payments
• Debt Consolidation
• Bridge Loans
• Convertible Mortgages
• Consumer Loans
• Business Development Loans
• RRSP Loans
• Manufacturer Loans

Multi-Currency, Multi-Company, Multi-Language

As a company offering loans or mortgages, you need the corporate flexibility to take on new markets and portfolios without restrictions from your software. Portfolio Plus allows you to run your business your way. If you need to manage a particular portfolio of loans using a different company, go ahead. Same goes for multiple languages and currencies. Portfolio Plus gives you flexibility and control.

Loan Origination, Mortgage Origination, Underwriting

Portfolio Plus gives you the flexibility to implement your own business practices for origination and underwriting.

Loan Origination Workflow

Loan Origination Workflow and Documentation

Portfolio Plus tracks the status of the all applications through the origination process allowing you to manage your workflow with the appropriate resources. For any documentation required during this process you have the opportunity to use Office Link, a document automation technology that empowers users to change templates using Microsoft Word.

Loan Administration: Easy Management of your Assets

Full arrears reporting allows you to immediately call attention to loans that could be in trouble. NSF notifications are another tool to ensure you're managing your loans with care. Standard NSF notifications can be produced from Portfolio Plus, once you’ve received PAC notifications from the bank. Optionally, you can produce those same notifications using Portfolio Plus Office Link, when you want to control the exact fonts, colours and images that appear on the NSF notification.

Loan Administration: Adding Loans from External Sources

In some cases you may have purchased an existing loan portfolio or acquired a company that has loans. For these cases the loans are entered using the Direct Entry Loan function or the Quick Batch process. From this point, they are administered like any other loan. You have control over which company code these loans are associated with, in which currency they are underwritten, in addition to complete control over cost centers and the journal entries they will affect.

Loan Administration: Cash Management and Projections

Cash management and cash projections can be performed on any loan portfolio including internal or externally sourced loans.

Loan Credit Facility

Lenders are driving their success by offering their customers a portfolio of loan products that is originated, approved and underwritten in one step. The attraction for customers is that they get to single-source their financing. The appeal for loan companies is the sale of more product. With Portfolio Plus, virtually any type of loan can be combined into a credit facility, the most popular being a mix of a car loan, mortgage and line of credit.

Loan Administration: Investor Servicing and Loan Partners

Portfolio Plus lets you accommodate Loan Partners by enabling pools of loans to be managed independently, in multiple companies and currencies, and then remitting proceeds as they are required. Investor Servicing is accomplished by allowing “shadow loans” to be managed on the system, with the acceptance of remittances applied to those loans and the appropriate fees retained.

Loan Securitization and Mortgage Backed Securities

Securitization of loans and mortgage backed securities can be accommodated through the Guthrie Phillips interface for Portfolio Plus.

Subsidized Loan Management

Employers and other groups can offer their employees or members special loan rates by subsidizing these loan rates with a loan partner. Portfolio Plus supports loan subsidization.

Selling Tool: Loan Scratch Pad

Scratch-pad utility provides a set of services and reports that help you sell more product. With a customer or agent on the phone, you’re able to quickly calculate hypothetical amortization schedules, bi-weekly versus monthly payments, lump sum payment effects on the loan schedule, and more.

Mortgage and Loans: Security

Portfolio Plus allows you to customize security for each of your employees and/or groups of employees. The system administrator establishes the users and groups and then chooses the restrictions to be applied to those users and groups.

Mortgages and Loans: Plug-In Banking Architecture

Loans and Mortgages Brochure

Portfolio Plus was designed to evolve. The Loan and Mortgage module integrates seamlessly into the Accounting module along with any other module that is required to perform your business. As an example, if you added Retail and Web Banking, the loans can appear on your customers' web banking interface.