Benedict Group announces CDFI tracking and reporting functionality
(April 28, 2015) — Benedict Group, Inc., a provider of loan servicing software for complex loans, announced today that their new CDFI loan tracking support is now available, and that this support has been approved by the Community Investment Impact System (CIIS), an organization that oversees regulatory reporting for this industry.
“The CDFI industry has been lacking a system that can handle both CDFI and other complex loans.” says Tom Scott – Director of Business Development at Benedict Group. “Our new support will now allow these lenders to continue servicing their current loan types AND offer more complex deals which their current software may not support, such as participation, multi-escrow, multi-family, construction, and other loans with extensive processing requirements.”
Benedict Group decided to expand their current loan servicing software after multiple prospects expressed this need for one servicing solution to handle all loan types, including CDFIs. “We feel the automation these enhancements provide will be helpful to such organizations, especially as they offer the same ease-of-use features as the rest of our software.” added Rick Clifford, Manager of Sales at Benedict Group.
LOANS! For .Net is a loan servicing, accounting, and investor reporting system for commercial, consumer, multi-family, and other complex loans. It’s based on Microsoft’s VB.Net and SQL Server technologies.
Founded in 1986, Benedict Group focuses on investment management software and offers a family of financial applications for commercial loans, structured settlements, and investment account billing. BGI’s clients include major lenders, investment account managers, CDFIs, state economic development and housing agencies, and structured settlement companies. Benedict Group offers a one of a kind support model, competitive pricing, an intuitive user-interface, a flexible framework, and all-encompassing functionality. Their corporate offices are in North Carolina and Colorado.
For more information, please call Benedict Group at 303-747-6690, send an email to BGIinfo@BenedictGroup.com, visit Benedict Group’s website at www.BenedictGroup.com, or follow them on Twitter.