Collections
Commercial Servicer provides a robust set of tools that will assist your collections area in keeping your delinquencies to a minimum. From pro-active reminder notices to reactive collections work.
Collection Queues
Collectors can work from their own customized queues on a very comprehensive collection screen. Everything the collector needs to know about the loan including past and current amounts due, delinquency history, past conversations with the borrower, promises made, etc. will be available from one detailed screen. Log conversations, add notes, generate custom documents such as promise to pay letters and schedule next follow up action. Send results of the collection effort to others through the automatic notification feature.
Watch List
The watch list feature enhances delinquency control with loans automatically falling onto the watch list for immediate action if they’ve reached your user-defined thresholds. The Watch List can help you identify potential delinquencies or non-monetary defaults before they actually occur.
Late Notices and Reports
Numerous notices and reports assist with all your collection work. Reminders, late notices and several delinquent notices inform the borrower of their status. Several flexible delinquent reports assist management with evaluating exactly where your loans stand.
Late Fees/Default Interest
User-defined late charge formulas and default interest plans ensure that no matter what type of late charge and default interest structures you may have, Commercial Servicer will be able to automate their calculation and assessment.
Loan Stops
Unlimited loan stop and warning codes allow loans to be tagged for special processing.
