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Lacoda

Name: Lacoda
Rating: 4.5 (2 reviews)

By Lacoda

1081 Interested

Highlights : About Lacoda

Automatic monthly and end-of-year statement creation

Escrow deposit/withdrawal totals

Monthly interest calculations

About Lacoda

Lacoda is a web-based loan servicing and management solution designed to assist lenders and loan servicers in managing all sizes of loan portfolio, whether a single loan or hundreds. Users can manage any combination of loan terms, with unlimited options including varying interest rates, multiple lenders, and construction escrow. Lacoda offers real-time online access to borrower and lender details, with lists of all borrowers and lenders and their individual loan totals, and a database of contact information and tax ID numbers. Users can also view a list of all active loans, with their principal balances, and breakdowns for each individual loan including the terms and details, principal history, funding, interest, late fees, transaction fees, unpaid items, and any associated notes or reminders. Lacoda automatically generates monthly and end-of-year borrower invoices and lender statements. Monthly borrower invoices include a summary of all active loans, and breakdown of each loan, with any unpaid amounts, the principal balance, and an interest calculation table. Monthly lender statements also include a summary of loans, and each loan’s breakdown with collections and uncollected amounts, accruals, interest, late fees, transaction fees, and points, and an interest calculation table. Lacoda also allows users access to full transaction histories, which can be filtered by date, payer, or recipient, with payment totals, withdrawal/escrow deposit totals, and by-item breakdowns of individual payments.

Specifications

24/7 Support

Yes

Business Size

Mid-Market

Deployments

Cloud

Language Support

English

Platforms

Product Details

Features

Borrower and lender database

Monthly borrower invoices

Automated daily backups

Loan terms and details

Variable interest rates

Late fees and transaction fees

Monthly interest calculations

Monthly lender statements

Payment summaries

Escrow deposit/withdrawal totals

Automatic monthly and end-of-year statement creation

Benefits

All combinations of loan terms can be managed, including varying interest rates, multiple lenders, and construction escrow.

Users can view full transaction histories for all payments, including lender buyouts and principal repayments.

Monthly and end-of-year statements are automatically generated for both lenders and borrowers.

Data is automatically backed up daily, and backups are never deleted.

Monthly borrower invoices include loan summaries, and individual loan breakdowns, with principal balances, unpaid amounts, and interest calculations.

Monthly lender statements include a summary of all loans, with individual loan breakdowns showing collections, uncollected amounts, accruals, interest calculations, transaction fees and late fees, and interest.

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