Loan Trak Pro 5.6

Loan Trak Pro 5.6 is considered as a full-featured loan portfolio management application that tracks loan principal and interest accruals, payments, late fees, escrow, and other fees/costs, charges, or credits. You can set up individual billing instructions for each loan account and generate bills and past-due notices for normal P&I, interest only, or fixed principal pymt. plus accrued interest on a monthly, quarterly, semi-annual, annual, weekly, bi-weekly, or semi-monthly basis.

Interest can be accrued using a 365/365, 365/360, or 360/360 accrual basis with a fixed or floating interest rate type for each Customer. Payoff amounts are always available (with the current PerDiem), as are accrued interest, late fees, escrow account balance/activity, and other fees/costs due, along with interest paid year-to-date and life, late fees paid year-to-date and life, and other fees/costs paid for life.

Major Features:

1.  All account names and account numbers in a Loan Trak Pro file are displayed in a "sortable" (and searchable) listing on the left side of the data form, with the selected account's data (master Account info, Transactions, Billing Info, and Bills Outstanding) shown on the right.
2. The improved "search functions" allow you to locate individual records quickly (Account, Transaction, Billing Info or Outstanding Bills), even in large files.
3. Interest can be accrued using an exact days 365/365, 365/360, or equal 30-day months 360/360 accrual basis for each individual Account. Starting with version 4 you can also choose between a fixed or floating interest rate type.
4. Payoff amounts are always available as of the current date... the payoff 'date' can now be modified to provide a payoff amount as of any date you choose - past, present, or future. A Per Diem interest amount is also provided for easy recalculation of a previously quoted payoff.
5. Current interest due is automatically maintained, as well as any late fees due, other fees/costs due, interest paid year-to-date & life, late fees paid year-to-date & life, and other fees/costs paid during the life of the loan.
6. Beginning with version 5 Escrow accounts for insurance, taxes, etc. can be set up and maintained for individual loans, and the current escrow 'balance' is updated whenever a payment is made into or from the customer's account. An escrow account "history" can be viewed or printed whenever necessary.
7. End of period processing will automatically accrue interest to date (using the interest rate "basis" and "type" for each customer) for ALL accounts in the file.
8. Individual billing instructions can be set up for any Account in your files to include billing date, frequency of payments (monthly, quarterly, semi-annual, annual, weekly, bi-weekly, or semi-monthly), maturity date, option to charge late fees on delinquent payments, and either interest only, constant P&I, or constant fixed principal PLUS accrued interest. Escrow payment amounts entered into the Billing Info record are automatically added to a respective customer's Periodic Payment when bills are generated.
9. The Billing Information window will automatically maintain the current status of each loan Account, reflecting the oldest-due and next-due dates; interest, principal, escrow, late fees, and other payments currently due; and scheduled & current principal balances.
10. Bills are automatically generated and printed indicating the payment due date, interest/principal/escrow/late fees/other due for the current & past-due periods. The Bills are formatted with your company name & your customer's name and address for mailing in either single or double window envelopes.
11. When bills are generated the corresponding data is automatically posted to the respective customer's Transaction records indicating that a bill was generated, along with the billing due date and interest accrued. Likewise, payments posted as a new Transaction will automatically update the related Billing records (unless you choose to override this for an individual Transaction).
12. Built-in reports include...
    • Listing of Records by Account Name, Account number, Servicing Branch, or Servicing Officer (A Floating Rate accounts and Customize this report options are also available)
    • Trial Balance by Account Name, Account number, Servicing Branch, or Servicing Officer (A Customize this report option is also available)
    • Loan History (all Transactions for the life of the loan)
    • Statement of Account (using the time period you specify)
    • Posting Journal for the current day, month, year, or any period using the dates you specify
    • Escrow account "history/activity" with running balances
    • Base Rate Index history (if you've enabled the "Floating Rate" feature of the program)
    • Rate Change Notices for floating rate accounts are generated whenever you change the Base Rate Index
    • Receipts for payments collected from customers
    • Interest Paid Year-to-Date by Account Name or Account number, which includes each borrower's address and Tax ID number (if you entered that info into their master Account record).
    • Notes, comments, reminders, etc. are maintained for each Account and can be printed as needed
    • Billing Information Summary Report showing the payment/billing "setup" for each Account in file. (A Customize this report option is also available)
    • Outstanding Bills (for all Accounts in file or an individual Account)
    • Past Due Report by age of delinquency, Account Name, Account number, Servicing Branch, or Servicing Officer. (A Customize this report option is also available)
    • Reprint Old Bills (either the last "set" generated or individual bills, even if no longer a part of your "active" file)
    • Past Due Notices (either by themselves or in conjuction with the printing of new Bills)
13. Full print preview with user-selectable fonts and user-selectable paper sizes.
14. Context-sensitive online Help is always available, as well as What's This? pop-up help for the specific data fields
15. Improved "wizards" will help both new and existing users with their Account and Billing Info/Bills Outstanding record setups, walking you through the necessary data entries in easy steps. The New Billing Info Wizard [Std. Edition only] also incorporates an option to import the Billing data from an existing Lender's ToolBox (v6 thru v9) amortization file!
16. Data files are MS Access97 (& higher) compatible, allowing you to design custom reports using MS Access or other database management programs. (A File Conversion Utility is included to convert your existing v4.x data to the new file structure.)
17. You can create multiple data files if you want to maintain separate records for branch offices, subsidiary companies, etc. Just open the file you want to work with and it's data will be loaded & displayed on your screen.
18. Major Version registration license remains valid for all minor upgrade releases

Enhancements:

• Include unspecified updates, or bug fixes.

Requirements:

•  Windows 98/Me/2000/2003/XP/Vista operating system
• Pentium (or Pentium-compatible) CPU (266 MHz for satisfactory performance)
• 128MB of physical/installed memory (256MB recommended for satisfactory performance)
• SVGA monitor with a minimum 800x600 display resolution AND 16-bit (or better) 'color depth' setting
• Hard disk drive with 12.5MB of available space for a complete installation (could be much less if the required "system" files are already present on your computer. The WinXP/Vista operating systems already include the bulk of these files.)
• Windows compatible printer for 'hard copy' reports