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The Loan System offered by FAS is by far one of the most extensive packages on the market today. This application, designed around a system manager, runs on almost all types of operating systems, will effectively and efficiently handle up to 16 million loans, and incorporates from one to an unlimited number of users.
The base system is designed to handle standard financing; however, multiple custom options allow the package to be tailored to accommodate needs ranging from creative financing, construction loans, mortgages, agricultural, commercial, installment, student, and lease/loans. Many of these features cannot be found on software packages costing a quarter of a million dollars.
The Loan Service System is by far our largest package. The ability to effectively handle all loan transactions are inclusive in the base system with 12 different transaction types, and over 100 reports available. One-time entry of customer information is permitted, and can then be tied to multiple loans. Customers may be sorted by class and type. Loan information may be sorted by class, type, and loan officer, with the class being tied to general ledger accounts for interfaced postings. Partial payments are handled with ease with the ability to define what will be satisfied first (i.e. Interest, late charges, principal, escrow). Any item not satisfied will be carried over and will reflect in reporting. Past due notices may be generated at any time, with global late charges or individual rates for each loan class. Past due reports can be produced using any date window.
Reports may be sorted using date ranges, class, type, or loan officer where applicable. The Loan Service System is very flexible, it works well as a Loan Charge-Off System also. Any configuration for the system may be used considering the following options:
"Loan Service System" is part of the Solutions Plus Software line of products, developed by F.A.S. - Financial Accounting Systems.