ACH Servicing Software
Loan servicing businesses know that it's very expensive and time consuming to service loans.
Studies have shown that the costs can average between $5 and $10 (or more) to collect each payment - this takes into account everything associated with each operation, printing costs, postage, your accounting staff, collectors, equipment and of course, the additional cost of money.
ACH DEPOSIT:
Eliminates accounting time and possible inaccuracies by receiving a file in NACHA (National Automated Clearing House Association) format, and automatically posting payments to customers accounts.
ACH COLLECTION:
Borrowers: Creates the NACHA formatted file to electronically collect a payment from a participating borrower's account.
Investors: Creates the NACHA formatted file that electronically pays your investors the amounts you've collected for them.
Software Features
- Reduces collection and servicing costs to just fractions
- Most comprehensive solution available in the marketplace
- Eliminates much of the cost and hassle from your business
- Set up an account once, and you may never have to deal with it again until it pays off
- Funds are deposited directly into your bank account -- all automatically
- Several ACH transaction reports keep you aware of what's happened
- Dramatically reduces your organization's workload
Experience a free, personalized loan servicing software demonstration over the Internet.