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| Modules of the Nortridge Loan System |
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| Multi-Book Accounting Module |
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| The Nortridge Multiple-Book Accounting module, also known as the Shadow Loan module, allows loans to report to two or more different sets of books in the General Ledger. |
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Example #1: A loan has been charged off, or partially charged off on the official ledger, but there is also a need to keep the entire loan on the system and attempt to collect on the full amount. |
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Example #2: Loans are purchased at a discount or premium. This module will allow the full note balance to be tracked on the master loan, and the actual cost basis can be tracked on the shadow loan. |
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| Features |
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Allows user to track and report on separate balances |
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Transaction flow-through to shadow loan(s), if desired |
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Set parameters that control the interaction with the master loan |
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Monies can be distributed via basis recovery, discount method, or daily prorated income method |
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