Name: Contract Collection System
Price: 4000 USD
Author: Lincoln Data

Help Desk

Web and Video Conferencing

Customer Support

AI Chatbot

Development

Attendance Tracking

Career Center

Education

Association Management

Business Intelligence (BI)

Case Management

Collaboration

File Sharing

File Sync

Objectives and Key Results (OKR)

Office Suites

Unified Communications as a Service (UCaaS)

Enterprise

Accounting

FinTech

Online Trading

SaaS Spend Management

Finance and Accounting

Applicant Tracking

Corporate Learning Management

Employee Performance Management

HR Management

Payroll

Talent Intelligence

Talent Management

Workforce Analytics

Workforce Management

Human Resources

Asset Tokenization

Business Internet Service Providers (ISPs)

Cloud Storage

Container Management

Debugging

Disaster Recovery as a Service (DRaaS)

Dynamic Application Security Testing (DAST)

Fraud Detection

In-Memory Databases

Incident Response

Integrated Development Environment (IDE)

Integration Platform as a Service (iPaaS)

Intranet

Managed Private Cloud

Managed Security Service

Modular Storage Area Network (SAN)

Network Function Virtualization (NFV)

Network Performance Monitoring

Runtime Application Self-Protection

SSL Certificate

Secure Web Gateway

Threat Hunting

Information Technology

A/B Testing

Ad Serving & Retargeting

All-in-One Marketing

Content Management

Email Marketing

Marketing Automation

Personalization Engines

Product Management

Sales and Marketing Automation

Social Media Management

Survey & Forms Building

Technology Review

Web Analytics

Marketing

Project Management

Professional Services

Customer Relationship Management (CRM)

Sales Forecasting

Sales Pipeline

Sales

Microsegmentation

Security Information and Event Management (SIEM)

Security

Automotive

Building Information Modeling (BIM)

Catering

Law Practice Management

Legal Research

Tour Operator

Vertical-Specific

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The Contract Collection System, developed by Lincoln Data, is a software solution designed specifically for commercial banks, title companies, escrow companies, and private lenders. According to the vendor, this system is aimed at firms servicing a few hundred to many thousand collection accounts in the mortgage servicing industry. With its wide range of features and capabilities, the Contract Collection System is positioned as a valuable tool for managing seller-financed mortgages, trust deeds, real estate contracts, and other installment notes.

## Key Features

**Comprehensive Reports**: According to the vendor, the system generates a range of comprehensive reports, including Trial Balance, Investor Reports, Year-End Statements, IRS 1098 and 1099 Forms, IRS Electronic Filing, Tickler Memo Reports, and more. These reports provide detailed information on account status, balances, payment history, payment disbursement, contract tickler memos, payoff quotations, and amortization schedules.

**Payment Processing**: According to the vendor, the system seamlessly handles daily or monthly interest calculations, tax and insurance reserves, late charges, payment coupons, buyer/seller payment notifications, and delinquent payment notices. The system supports payment processing through ACH debits and credits, allowing for electronic funds transfer and reducing postage and paper costs.

**Data Import/Export**: The vendor states that the system allows for effortless import and export of data, including ACH debits and credits, email receipts, annual statement printing, and cleared/issued checks. This feature facilitates seamless integration with external systems and streamlines data management processes.

**Bank Reconciliation System**: The system interfaces with the WCCS database to automatically transfer checks issued by the system into a separate check reconciliation file for the trust account. According to the vendor, the system provides "point and click" and "range" clearing features for efficient check reconciliation, reducing the time required for balancing bank accounts.

**Email Receipts**: According to the vendor, the system offers an email service that provides buyer/seller statements by email, reducing postage, forms, and labor costs. This feature enables efficient communication and document delivery through electronic means.

**ACH Interface**: The vendor claims that the system allows for the electronic transfer of funds, eliminating the need to mail checks to sellers or their banks and improving payment posting efficiency. This feature is said to reduce postage and paper costs, streamline payment processes, and enhance overall operational efficiency.

**www Branch Internet Inquiry**: The system provides password-protected inquiry and printing for sellers and buyers who want 24/7 internet access to their loans. According to the vendor, this feature enables convenient and secure online access to loan information through a website interface, improving customer satisfaction and self-service capabilities.

**System Requirements**: The vendor states that the system is compatible with Windows 7 and newer versions, including Windows 10, with support for Terminal Services. The system requires a laser printer and disk storage capacity based on the number of years' payment history and volume of imaged documents stored.

**Types of Loans Serviced**: According to the vendor, the system supports various types of loans, including mortgages, trust deeds, real estate contracts, mobile home loans, land contracts, rents, and leases. This feature offers flexibility in servicing different loan types, catering to the needs of diverse industries and professionals.

Basic

Contract Collection System

Loan Servicing Software automates the loan lifecycle from origination, credit decisioning, payment processing and collections, to accounting and reporting.

Loan Servicing

Lincoln Data

Loan Workflow

Tools used by loan origination and servicing and servicing agents to streamline their workflows.

Loan Document Management

This feature allows users to store, manage, and track all loan-related documents, ensuring compliance and efficient processing.

Loan Workflow Automation

This feature helps to automate various stages of the loan process, improving efficiency and reducing manual errors.

Loan Software Integrations

This feature allows lenders to access credit reports and scores from major credit bureaus, aiding in the credit assessment process, and integrate with CRM tools and third-party databases to manage borrower relationships.

Loan Reporting and Analytics

Allows users to generate various reports and analyze data related to loan origination and servicing, helping to make informed decisions.

Financial Reporting and Compliance

Financial statements and regulatory filings

Management Reporting

Tools facilitating creation of internal ad hoc or standard reports.

XBRL support for regulatory filing

Support for the XBRL standard reporting format for exchanging financial data.

Excel-based Reporting

Ad hoc or formatted reports using MS Excel.

Data Security

Tools and features that help keep data secure from unauthorized access or internal exposure.

At-Rest Data Encryption

Data at rest is encrypted, requiring decryption to read the underlying data.

In-Transit Data Encryption

Data is transmitted in an encrypted state, preventing interception of raw in-flight data.

In-Use Data Encryption

Data remains encrypted even when stored in non-persistent storage (RAM, CPU caches, and CPU registers). This prevents access to data through malware on an individual device.

Data Redaction

The product's capability to return redacted data in place of actual data when queried. For instance, a redacted query for the phone number 555-5555 could return ***-**55.

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Loan Servicing Software

Contract Collection System

Overview

What is Contract Collection System?