Tracking loan document exceptions needs to be part of any loan portfolio management process. System accessibility, ease of use and consistency are keys to ensuring data accuracy and consistent follow-up by responsible person. Done properly deviations are minimized thereby reducing bank loan risk profile.
The FINBOA™ Loan Exception Tracking System greatly simplifies the administration of loan and customer exceptions for lending compliance. The system is designed to provide operational efficiency, enhance record keeping, and simplify compliance.
What It Is:
- Browser user interface for the loan operations and loan officers
- Automatically generate exception letters for customer notification
- Timeline management and Deadline Alerts
- Track exceptions by customer or by loan
- Track customers linked to each loan
- Meet regulatory requirements and minimize loan risk
- Improve customer experience
- Reduce time to correct exceptions by 55%
- Streamline information distribution to loan officers
- Track updates easily through loan or customer screen