SYNDi manages mortgages and other loans in cases where an investor or a group of investors lends money for a loan. It is used primarily by Mortgage Brokers and Syndicators. In a typical scenario, the company sets up the syndicate, advances the loan amount to the borrower, receives the payment on monthly basis and distributes it to the investors after deducting a percentage from the interest amount as the management fee. The system automates the loan management cycle and maintains relevant records until the loan is paid off.
SYNDi handles all loans including mortgages that are payable in monthly installments (interest only or amortized over a period with a balloon payment).
SYNDi cuts down paperwork and saves time so that you concentrate on marketing while SYNDi takes care of managing the mortgage cycle.
Features of the Software:
- Interest-only loans or Blended Payments
- Provision of payment of fixed amount from the principal at regular intervals
- Amortization Tables based on loan profile
- U.S. and Canadian interest calculation algorithms
- Sage Accpac ERP and Sage Simply Accounting integration
- Calculation of Federal and State / Provincial taxes on management fee
- Calculation of Late Payment Charges
- Withholding of Non-Resident Tax from interest payments to investors
- Renegotiation of terms during the life of a loan
- Provision for investors to withdraw and be replaced by new investors during the term of a loan
- Generation of detailed or consolidated entries for General Ledger
- User-friendly inquiry and data-entry screens
- Minimal training requirements
- Intuitive data-entry procedures
- 35 built-in reports
- Access to data by standard report-writing tools such as Crystal Reports to generate customized reports
Reviews of SYNDi Mortgage Manager Write a Review
No reviews have been submitted. Do you use SYNDi Mortgage Manager? Write a review, and help other organizations like yours make smarter, more informed software selection decisions!