Harland Financial Solutions, a wholly owned subsidiary of Harland Clarke Holdings Corp. and M & F Worldwide Corp., has introduced its new service release module for the Interlinq loan servicing system.
To streamline servicing releases, the new module supports the sale of loans by batch to each purchasing company. By importing data from Microsoft Excel spreadsheets, text files or Microsoft Access databases, servicers can avoid re-keying loan information and associated errors, the company says.
In addition, the system amortizes loans forward to help ensure balances are correct when calculating on a future date. Tolerances for variations from the purchase advice, such as for the principal or escrow balance, can be set to automatically generate errors and warnings that must be overridden or addressed before the sale can be processed. System reports also provide audit capabilities, such as the ability to track trailing payments.