Loan Servicing with Nortridge
Economic Development and Non-Profit
Community Development Financial Institutions (CDFIs), Community Development Entities (CDEs) and non-profit lenders face a broad array of challenges in their lending, portfolio servicing and reporting practices. The Nortridge Loan System has deep roots in the worlds of Economic Development, Non-Profit and Government Lending. Over the years, Nortridge has developed specific functionality to meet the compliance and reporting requirements for this space and its unique funding sources. NLS has earned high user satisfaction marks by the CDFI community because of its flexibility, automation, and user-friendly design. With hundreds of user defined fields for demographic and financial information, in addition to predefined contact and loan tabs to store information required by the Community Investment Impact System (CIIS), you'll immediately realize increased efficiencies.
- Powerful contact management system to manage not only your borrowers, but applicans, Technical Assistance (TA) and workshop participants, investors, lenders and other relationships
- Hundreds of user defined fields (UDFs) for economic impact reporting, project information,, and other agency reporting requirements
- Flexible loan setup allows you to tailor the software to meet your borrowers' needs rather than forcing your loans to fit the software.
- Easy to modify or restructure loans and to track changes
- Supports amortized payments, interest-only, principal-only, percentage- and fixed-pricipal reductions, interest-only beginning periods, step payments, and custom payment schedules
- Handles fixed, variable, step-by-amount, step-by-days, post-maturity and default rates and deferred or Payment-in-Kind (PIK) interest
- Genereates statements, late notices and payoff notices
- Supports unlimited commenting, document generation and storage of all correspondence (including invoices)
- Investor and source-of-funds reporting
- Tracks collateral, including expiration and renewal dates
- Robust reporting system allows you to sort and group your information by funding source, purpose, type, status, risk rating and much more. Output can be in PDF or Excel file format
- Manages and accounts for grants, investor and bank loans too
Tailor your servicing platform to your loans…instead of tailoring your loans to the servicing platform.