Loan Express Addition
The Loan Express module will lead you through the entire loan addition process. Once the program is initiated, the payment calculation module appears. After all information is entered, you will be brought directly to an addition screen where ALL DETAILS PREVIOUSLY ADDED ARE AUTOMATICALLY INSERTED. Next, you will be whisked off to process the loan disclosure, if applicable, and finish up actually posting the disbursement. Along the way you will never enter the same data twice. This exciting feature will not only streamline your loan processing; it will virtually eliminate any mistakes.
The AMI System provides a comprehensive collection system that will suit the needs of any credit union. Our collections system allows your staff to enter comments and automatically generate letters to your members to follow up on discussions and payment arrangements. In addition the collections module will notify your staff to follow up if a payment has not been made by the agreed date. This program was designed with the credit union staff in mind to offer a real world solution to your collection problems.
Automated Risk Based Lending
Many credit unions are implementing Risk Based Lending in to their lending policies in order to offer the most competitive rates to their members. The AMI System will help your Loan Department automate the process of determining rates and available products based on your member’s credit history. This program will allow your credit union to set up to 6 different categories of qualification and will display all of the different payment options. The system will also show how those options will affect that member’s debt ratio so you can help your member make an informed decision. This cutting edge product is an example of our dedication to providing the best lending package in the industry.
Credit Bureau Inquiry and Reporting
The AMI System offers a complete suite of products to assist your credit union in obtaining and reporting your members credit information. Our Credit Bureau Inquiry Module allows your staff to electronically receive your members credit reports and automatically download that information directly in to your Loan Application. This makes the process of adding a loan quick and accurate. The AMI System also gives your credit union the ability to report to all the major credit bureaus in the latest Metro 2 Format. The program is a simple function that can be set up to run automatically during your End of Month processing. AMI also offers an optional service where we will report your information to the credit bureau(s) of your choice.
Laser Loan Forms
Do you ever get sick of having an old noisy dot matrix printer solely dedicated to printing out your loan documents or having to run to the printer to change paper every time you want to print out a loan document? Well so did our customers, so AMI in conjunction with the major insurance provides like CUNA and Madison National initiated our laser loan document printing. We take the document image provided to us by your insurance provider, with all the legal language and fill in the specific information on the member you are offering the loan to. All you do is click print when the loan is finished and the whole document is printed to your laser printer on plain white paper. No more lugging large boxes of forms around, no more running to the printer to change forms, and the ability to get your member out the door and on their way faster.
Keeping your members money in the Credit Union can be a difficult task at times especially when they are being bombarded by fancy marketing campaigns and promises of fast and cheap money. Protecting your membership from unscrupulous mortgage brokers can be a daunting task but when you have tools provided by AMI’s Mortgage Loan Module it will shift the advantage in your favor
The Mortgage Loan Processing module is a thorough package for all of your first mortgage loans. This comprehensive program will enable you to segregate mortgage loans into their own file. This feature includes thirty day interest calculation, up to three escrow descriptions, and an independent mortgage statement for each member.
The AMI Mortgage Loan Processing module is the essential ingredient if your Credit Union is considering offering first mortgage loans to your members. This program will conveniently keep all necessary information regarding each mortgage in one section. Once all preliminary data has been entered for each mortgage loan, your job is done. You don’t even need to buy a special statement form, the AMI mortgage statement is printed on blank 8 1/2″ by 11″ paper.
- Separate mortgage master record for each member.
- All updating is handled in normal posting screens.
- Thirty day interest calculation is offered.
- Complete yearly mortgage statement.
- Existing mortgage loans can be added to system.
- Three separate escrow descriptions.
- Distinct grace days for mortgage loans.
- Mortgage master will list all yearly interest, principal, escrow, and late payment charges.
- Mortgage master will distinguish escrow payments, dividends, and withdrawals.
- Each mortgage record contains four comment lines.
Additional Loan Features
- Closed or Opened End or Mortgages (360,365 or 30 Day Basis)
- Automatic Loan Refinancing (Just Enter Amount of New
- Automatic Calculation of Principle and Interest
- User Defined Interest Rates
- User Defined Purpose and Collateral Codes
- Pledge Accounting, Frozen Amounts
- Loans may be differentiated by Type for Separate G/L Distribution
- Late Charges for Delinquent Loan Payments
- Variable and Level Rate Monthly Renewable Credit Disability and Life Insurance Calculation
- Designated Code on Easy Loan for Approving Loan Officer
- Payments can be Made Weekly, Bi-Weekly, Semi-Monthly, Monthly or a Single Payment
- On Line Delinquency Inquiry Includes Number of Payments, Days and Dollar Amount
- Loan Pay off Calculation for Current Date or Any Other User Defined Date (Also Displays One Day Interest Amt.)
- Loan Payment Calculation Based on User Defined Amount to Borrow, Interest Rate and Length of Loan
- Regulation Z Calculation
- Amortization Schedule
- Projected Accrued Interest Report
- Automatic Printing of Delinquent Letters
- CUNA Insurance Calculations for Disability and Life On Line
- Complete End of Year Mortgage Statement with Escrow Detail