Colonial Modules
Loan Processing
With the Loan Processing module, property managers can improve invoicing, budgeting, and scheduling while taking advantage of integrated record-keeping.
Loan Processing lets users store a wide variety of information for outstanding loans. Notes, contacts, ticklers, and user-defined fields may be attached to every loan. In addition, users may view historical interest rate and monthly payment information, including when each rate change took effect.
Using Loan Processing, you’ll appreciate these benefits:
- Track as many as six different escrow items to general ledger accounts and know what has been paid.
- Post your monthly payment by creating an AP invoice and writing a check – or just make an internal journal entry to General Ledger.
- Manage all of your various types of loans including interest only, principal and interest, and balloon payment.
- Various interest calculation formulas can handle daily and monthly determinations.
- Efficiently manage loan processing with the ability to store a wide variety of information for outstanding loans.
- Automatically create AP invoices on a monthly basis to meet principal, interest and escrow payment obligations.
- Fully integrated, Loan Processing ties the loan amount to budgeting and helps Colonial customers manage long-term forecasting.
- Loan Processing creates amortization schedules for the full life of the loan and summarizes payment information in reports such as the Loan Abstract.
- Attach important loan documents using Colonial Document Management for easier workflow.
- Access current loan values, including balance, interest paid to date, and principal balance to date.
- View historical interest rate and monthly payment information, including when each rate change took effect.
- Track Maturity Date, Number of Payments, Add-on Basis Points, and much more.
- Flexible queries allow custom report writing within standard report structures. Reports can then be printed, emailed, saved as PDF, or used with Microsoft Excel.

