LendingWise allows you to automate the collection of loan payments via ACH payments based of the loan terms entered. You can setup the details related to default interest rules and late payment fees as well. You can choose to run payments on auto-pilot or manual. Your billing/accounting report page will outline which loans are past due or current. Borrowers will be able to login and make payments, update ACH info & request pay offs.
Equally important to automating payment collection from borrowers, you can automate payment to investors on the loan level, even if there are numerous investors on a loan. You can even set up payments to yourself to collect the yield spread or commission/broker origination points.
By popular demand, our lenders require managing numerous investors on one loan commonly referred to as fractional investors. Each investor can have a fractional ownership/investment in a loan with their own expected rate of return & payment calculations. Using the auto-ACH payment method to pay each investor individually can save you a lot of time & administrative headaches as well.
The process of generating an accurate pay off amount can be complicated when it comes to factoring the many miscellaneous fees accrued on a loan for various purposes. You can automate the pay off determination or do it manually to ensure 100% accuracy.
Your back end private investors provide the capital needed to fund loans and they expect transparency in how their capital is deployed. Furthermore, they want to quickly and easily see their ROI in real time with investor reporting dashboards and reports via a login portal or a custom report outlining the data important to them. Don’t leave your private investors hanging without the insight they need to ensure trust and measurable results.