Participations Module in Nortridge's Loan Servicing Software
Participation Loans are loans in which the funds for the loan come from multiple sources or participating institutions. NLS provides all the sub-accounting and payment distribution to the participants.
Features
- Participations can be by percentages or by dollars
- Each participant can have a different main interest rate and secondary rate for deferred interest
- Distributions are rules-based
- Payments to participants can be made through ACH or automatic check disbursement
- General Ledger entries can be generated for each participant
- Servicing fees can be tracked
