Loan Interest & Fee Calculation demo
Any bill recalculated from the agreement and the rate history, with every step shown, before it is sent or disputed. 1:15
What the demo shows
A billing solution for loan servicers that recalculates any bill from the agreement and rates.
Six agents recalculate every bill from the agreement, the published rate fixings and the loan's transactions, print it as a receipt with the clause and fixing behind each line, trace any difference to the term that caused it, and draft the correction or the dispute answer for the servicing officer to sign.
Transcript
- Loan Interest & Fee Calculation recalculates every loan bill from the agreement and the rates.
- Bills come from the core system, and one wrong setup repeats on every bill.
- Today's run, 412 bills, 7 disagree.
- Kestrel Ridge Foods prints as a receipt.
- Every period, reset, fee, and payment.
- Each line opens its clause, its rate fixing, and the arithmetic.
- The receipt totals $184,000.
- The system billed $26,91 more.
- The cause. The note counts 30-day months.
- The system billed actual days.
- Replay the system's setup.
- The difference goes to zero, to the cent.
- Renee corrects it and credits last quarter.
- Her supervisor co-signs.
- Built on Botminds: agents, data, screens, and governance on one platform.
Transcribed from the film’s narration. Captions are on the player.