At Suntell, we understand the importance of compliance in the loan management process. That’s why we developed the Loan Exception Tracking feature of our Square 1 Credit Suite platform.
The Loan Exception Tracking feature allows financial institutions to automate their exception tracking efforts, strengthening their compliance processes. This feature allows institutions to define exceptions and variances and track them through a comprehensive process.
The Loan Exception Tracking feature includes tools for institutions to properly identify risk based on the tickler’s association with the borrower, collateral, or loan. It also includes the ability to email letters to borrowers informing them of outstanding documentation items and track and contact third parties that may be involved in correcting documentation exceptions. In addition, institutions can create internal follow-up notifications related to specific ticklers.
With the Loan Exception Tracking feature from Suntell, financial institutions can:
- Strengthen their compliance efforts: Automating exception tracking helps institutions to more effectively meet compliance requirements.
- Properly identify risk: The ability to identify risk based on the tickler’s association with the borrower, collateral, or loan helps institutions to better understand and manage their risk.
- Track and contact third parties: The ability to track and contact third parties that may be involved in correcting documentation exceptions helps to ensure that exceptions are promptly addressed.
- Create internal follow-up notifications: The ability to create internal follow-up notifications related to specific ticklers helps institutions to stay organized and on top of their exception tracking process.
Overall, the Loan Exception Tracking feature is a valuable tool for financial institutions looking to improve their compliance efforts and manage their risk. We believe it is an essential component of any comprehensive loan management program, and we are confident that it can provide significant value to our customers.
