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#1581 - 05/03/01 05:42 PM LOAN PLATFORMS: Loan Platform Systems
Anonymous
Unregistered

Besides Bankers Systems, Inc., what other loan platforms do you use to generate loan doucments?
Last edited by mbguard; 01/23/03 10:10 PM.
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General Discussion
#1582 - 05/03/01 07:56 PM Re: Loan Platform Systems
De Vonne Offline
Member
Joined: Jan 2001
Posts: 84
We used to use CFI-Laser Pro. The documents are fine but you get a lot of unnecessary paperwork and the service contracts are pretty pricy.

I know a small bank that uses Microsoft Excel to calculate payments/APR's and uses Microsoft Word to prepare the documents. This is effective for fixed rate loans only.


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#1583 - 05/07/01 01:50 PM Re: Loan Platform Systems
Michele Petry Offline
New Poster
Joined: May 2001
Posts: 7
We have used Pedestal Loan Publisher (DOS)from Harland for the past 2 1/2 years. Harland acquired CFI (Laser Pro) last August so that is now their product also. But, Harland is nearly ready to introduce a new loan documentation product which is web-based. This seems to be on the cutting edge of new technology and our bank is very interested in it. I have used a beta version of it and I am optimistic about its capabilities. In addition, although I have never used it, I have also heard good things about the Fiserv product as well.

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#1584 - 05/08/01 05:00 PM Re: Loan Platform Systems
Anonymous
Unregistered

There is a new product sweeping the southeast and midwest call GulfPak. This windows based system handles all types of loans plus it has a deposit module that interfaces nicely. The pricing is based on assets which means it can be installed on every computer in the bank. You can email ABS at mail@abs-ok.com for more information.

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#1585 - 05/14/01 12:39 AM Re: Loan Platform Systems
SMQ, CRCM Offline
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Joined: Apr 2001
Posts: 4,828
Between the lines
We used GulfPak for several years and recently switched to Digital Dimension. The GulfPak product is moderately priced and simple to use, BUT support was sorely lacking and compliance issues were major (defaults in the documents disappeared after each upgrade, certain states not supported, etc.).

We are hoping for better with DDI.

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Opinions expressed are not necessarily those of my employer.

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NOLA is my Beach!

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#1586 - 05/14/01 02:36 PM Re: Loan Platform Systems
BankerMama Offline
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BankerMama
Joined: Jun 2001
Posts: 1,543
We use F.A.S.T. of Louisville KY to process loan documents.

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#1587 - 05/14/01 07:29 PM Re: Loan Platform Systems
Anonymous
Unregistered

This is in response to CAnderson's comments regarding Gulfpak. Since you are from Mississippi, I assume you are commenting on Mississippi's customer support. American Bank System's (ABS), an Oklahoma corporation, sells and supports the software in the Midwest (Oklahoma and the surrounding states). We have been very happy with ABS customer support. ABS provides us with timely responses and their support staff has enabled us to customize documents within the Gulfpak software. I think it is a great system and very reasonably priced. I don't think you will find a better customer support staff with any other loan platform system. Regarding compliance issues, I feel that their loan documents are state-specific and cover the compliance issues. I have been the compliance officer for eight years, and I have not had any problems with the Gulfpak software as it relates to bank examinations. It's usually the person inputting the information. At least, that is my experience.

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#1588 - 05/16/01 02:30 PM Re: Loan Platform Systems
SMQ, CRCM Offline
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SMQ, CRCM
Joined: Apr 2001
Posts: 4,828
Between the lines
Response to Paul Reherman, good to hear that some states give better support. Our situation was that we also do business in Louisiana, a state originally supported by GulfPak; however, in 2000 we were informed that they would no longer support the Louisiana system, compliance, or documents.

As for the input issue, I was speaking of the defaults, not the specific new account/loan data. For example, my form may say that stop payments have to reach us by 4:00 pm; when they did an upgrade, the 4:00 disappeared and we had an empty blank. I also found that in the beginning, they were very accommodating at customizing forms for us and fixing "bugs"; but those "fixes" and customizations would not be on the next release and our own customizations (performed by them)were gone.

Better luck to others, I'm only answering to our experience and letting the inquirer know that there is another option. Whether our new system is better, only time will tell.

------------------
Opinions expressed are not necessarily those of my employer.

_________________________
NOLA is my Beach!

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#1589 - 01/23/03 10:03 PM Re: Loan Platform Systems
Anonymous
Unregistered

What has been your experience with Digital Dimension?

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#1590 - 01/23/03 10:55 PM Re: LOAN PLATFORMS: Loan Platform Systems
Anonymous
Unregistered

We just converted to Jack Henry's 20/20. Since conversion we have installed their Streamline deposit and Loan processing. Streamline is fairly easy to use and the accounts are uploaded to 20/20. Once we get past the learning curve I think this will be a great choice and a real time saver.

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