"To easily track loans that come from two or more sources, the Nortridge Paricipations Module is a natural."
Modules of the Nortridge Loan System
Participation Loans are loans in which the funds for the loan come from two or more sources of funds or participating institutions. NLS will provide all the sub-accounting and payment distribution to the participants.
- Participations can be by percentages or by dollars
- Each participant can have a different main interest rate and secondary rate for deferred interest
- Distributions are rules-based
- Payments to participants can be made through ACH or automatic check disbursement
- General Ledger entries can be generated for each participant
- Servicing fees can be tracked