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#447425 - 10/26/05 05:08 PM Commercial Loans
etm238 Offline
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Joined: Sep 2005
Posts: 6
Can you please let know of any Origination Software for Commercial Loans. New Training Issue for me, also can you guide me to some commercial loan regs.

Thanks I appreciate all your help!!!!!!!!!

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Lending Compliance
#447426 - 10/26/05 05:21 PM Re: Commercial Loans
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,855
Bloomington, IN
I don't know of any software that is specifically designed for commercial lending. Doesn't mean it's not out there, I'm just not familiar with it. We use Banker Systems Rembrandt and it does a good documentation job and is flexible in allowing some of the quirky terms you get into with commercial lending.

There are no federal commercial regulations per-se. You will want to look to the flood requirements, appraisal requirements, any regulatory guidance put out by your regulator, Reg. B and state laws to name a few.
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#447427 - 10/26/05 05:35 PM Re: Commercial Loans
etm238 Offline
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Joined: Sep 2005
Posts: 6
Thanks Dan!!!!!!!!!

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#447428 - 10/26/05 07:07 PM Re: Commercial Loans
Raymond Offline
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Raymond
Joined: Jul 2004
Posts: 517
The Land of OZ
I have not seen Rembrandt, but I have heard that it does a nice job. We didn't look at if because of its price. We use Arta at this bank for commercial and consumer loans. Arta does a nice job on consumer and an okay job on commercial. Harland's Laser Pro does a nice job on both commercial and consumer. Beyond that, those are the only two softwares that I have actually seen and used.

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#447429 - 10/26/05 07:17 PM Re: Commercial Loans
HRH Dawnie Offline
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HRH Dawnie
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
Harland's Laser Pro is what we use. It does a great job on producing documents, but getting Harland to produce when you need help is somewhat of a nightmare (For six months I've been trying to get them to develop a program for me to download more than the standard CRA submission data! Only to have to threaten to beat someone up with a spagetti noodle and get the answer in one day....the answer mind you that was supplied gave me two days to decide to purchase at an unreasonable cost...) Oh dear, I'm ranting...harland's Laser Pro is what we use LOL
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#447430 - 10/27/05 02:43 AM Re: Commercial Loans
flaire Offline
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flaire
Joined: Sep 2005
Posts: 228
sw us
Dawnie - we use Laser Pro too and I totally understand what you mean. We waited TWO YEARS for them to revise the NM DMV form. Maybe we should form a BOL user's group!?

But, etm, they do have a good package. I've used their SBA module and Participation module too. They also have interfaces with most major core platforms that allow you to upload loans, which is great. Also use their e-mailing option for e-mailing loan documents to out of town borrowers and title companies (with borrower permission, of course).
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