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Frequently Asked Questions

Loan Questions

Frequently Asked Loan Questions about the Insite Banking System™
Are all of your Loans in one Module?
Yes. All of our Loans are handled through the loan module.

What loan and deposit document processing systems does Insite™ interface with?
Currently, the Insite Banking System™ interfaces with Harland, Bankers Systems and GulfPak*.

How does the Insite Banking System™ handle variable rate loans?
Insite Banking System™ handles two different types of Variable Rate Loans.
1) Different groups of loans tied to a Prime or some other index. These loans can be changed any time the index changes.
2) Loans tied to a Peg Rate. Rates can change based on origination date of each loan. Example: Monthly, Quarterly, etc.

How many Peg Rates can Insite Banking System™ handle?
Insite Banking System™ can handle up to 99 Peg Rates.

Can you track delinquencies weekly, bi-weekly, etc., on loan payments?
Yes. The tracking is related to frequency of the payments.

How does Insite Banking System™ handle open end and closed end credit?
Data Fields where you can input a Credit Limit or amount, and flag the loan open end or closed end credit.

How long is transaction history kept on the system?
On CD’s and Loans the history can be kept on the hard disk indefinitely.

When variable rate loans change interest rate, what happens to the payment amount?
The payment can either be automatically recalculated or can remain the same.

Do you have Credit Bureau reporting?
Yes. We either download the information to a diskette or it is transmitted to the Credit Bureau.

How do you handle charge off and non-accrual loans?
The loans must be coded for Charge Off or Non-Accrual status. A charged off loan stays on the system, and continues to accrue, however the amounts are not included on the G/L. The same holds true for non accruals, except principal is included in the G/L.

How do you handle participation loans?
Multiple loans run simultaneously on the system. One for the whole loan amount, the others for the sold portions. The sold portions carry negative balances and when balanced with the regular loan, they net out.

* Under Development


 
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