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With easier access to information and improved flexibility, LA Pro loan servicing and loan accounting software enables lending organizations to respond quickly to new business opportunities and improve their competitive position in the marketplace.
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Clicking a tab opens windows that display options intuitively displayed for maximum ease of use and efficiency.
Records
Deal information is maintained from the Records tab. This information includes:
- Customers, facilities, loans
- Collateral and guarantors
- Unsettled loan and fee bills
- Deferred fees and costs
- Rates and pricing options
- General ledgers and general ledger transactions
- Notes and reminders
- Participant, participant facilities, and participant loans
Customer Lookup
The Customer Lookup feature displays all of a customer's deals and it is a useful navigational aid.
This customer has three facilities, seven loans, and two fees.
Clicking a part of the deal displays its associated record. For example, clicking Loan:L-1 displays the record for that loan.
Loans
Loan L-1 is a 10-year amortized loan for $65,000.00.
The Rate tab defines a prime rate of 7.5% with a spread of 2% for a current rate of 9.5%. It also defines a Days Per Year Code of actual/360.
The Billing tab defines monthly billing, printed on the 20th and due on the 1st.
The Delinquency, Amortization, and Discount tabs track additional loan information.
The payment split and allocation order, late fee information, and month-to-date, year-to-date, and loan-to-date balances are defined on the Other, Late Fee, and Summary tabs, respectively.
The Find button allows you to search for a specific record. You can use any combination of fields to search for a record.
Free-form notes are added using the Notes button.
With the proper access level you can enter a new record, save changes made to the current record, or delete the record. There are 10 user-definable access levels.
Data entered in LA Pro can easily be exported to other systems in XML format.
Day end, month end, and year end cycling are performed from the Processing window.
Individual transactions can be reviewed and posted by user ID or all transactions can be reviewed and posted. The transaction listing can be sorted by transaction number or General Ledger Code. Rate change notifications can be generated prior to posting.
From the Transactions window loan payments, disbursements, waivers, and rate changes are entered. All transactions can be backposted or future-dated. Transactions can be reversed easily. Bills are generated from the Billing window.
Bills can be printed and reprinted for all loans or for a specific loan or customer.
LA Pro's reporting capabilities provide several ways to use your financial information. Click here to download details of LA Pro's reporting capabilities.
Ad Hoc Reports lets you produce on-the-fly reports based on one table. You can use the Find feature to tailor your report results.
The Amortization Schedules option develops hypothetical loan schedules.
Custom Crystal Reports runs reports you have created using Crystal Reports software.
The Forecast Report projects payments by month and year.
LA Pro Reporter lets you create and run reports and queries using Microsoft Access.
The Batch Amortization Schedules option prints multiple amortization schedules for newly re-amortized loans.
LA Pro comes with over 100 standard reports including:
- Base Rate History
- Collateral Report
- Customer Master List
- Facility Balance Report
- Fee Balance Report
- Fee Delinquency Report
- GL Transaction Listing
- Guarantor Report
- Loan Delinquency Report
- Loans Outstanding Report
- Notes Report
- Participant Loan Payments Month to Date Report
- Payments MTD Report
- Record Edits Report
- Reminder Report
- Trial Balance and Accrual Report
Options on the Administration tab are used for application and database maintenance.
Application maintenance includes setting up security and user accounts, configuring the system, defining window layouts, adding custom fields, and changing field colors.
Database maintenance options are used to compact and repair the LA Pro database, clear all data, create test data, and setting passwords.
