Goods. QFund TM supplies a solution that is complete handling the cash advance deals for loans which are disbursed to borrowers in substitution for checks drawn from the mortgage lender

PAY DAY LOAN

After how many payday loans can you have in Texas would be the different deals which can be easy for handling pay day loans:

• Loan – Disbursement of a New Loan through different modes such as for example money, Checks, Debit cards, and ACH.
• Partial Payment – re Payment in partial amounts having the ability to determine rebates and pro-rate the re re payments
• Paid-in-Full – re re re re re Payment via – money, Cashiers Checks, cash instructions and Checks for total quantity to shut the mortgage
• Deposit always always always always always Check – Deposit of Borrowers sign in the Stores Bank
• Return check always Prepayments – re re re Payments created by debtor following the Check Deposit Clear always always always Check – Marking of Deposited checks as Cleared Checks
• Reimbursement – Reimbursement of exorbitant quantity gathered through the debtor via Cash / Check
• Return check always re re Payments – re re re Payments produced by debtor following the Check marked as NSF
• Post Court Filing Payments – re re re Payments following the Court filing of borrowers
• Post Judgment Re Re Re Re Payments – Re Re Payments after
• Write-off – Write-off loans that can’t be restored
• Write-Off healing – re re re Payments from the written-off loans
• Rollback – Time bound Rollback/Void for all your deals when you look at the use and application of an encryption rule for Rollbacks beyond the schedule
• Bank Deposit transactions enable depositing checks for redeposit and received as Garnishment Payment

INSTALLMENT LOAN

QFund TM supports problem of loan services and products with numerous loan re re re payment schedules, in other words., installment loans. QFund TM allows the user that is authorized process an installment loan as soon as a person is applicable for a financial loan or the main points are captured while the consumer evinces desire for taking on the mortgage. QFund TM has interfaces from the storefront which enables shop users to disburse installment that is new and record receipt of re re payments against each installment due.

There are two main kinds of Installment loan:

1. Simple Interest established loan – The installment interest will be determined from the various times of final re re re payment date therefore the processing date that is current.
2. Fixed Interest based loan- The installment interest needs to be determined from the diff times of final Installment deadline together with present installment deadline

The APR is determined according to Loan Amount, rate of interest, Duration, Frequency, No. of Installments, End of Month and Then Payment date. It automates the APR calculations on the basis of the values of Frequency, Duration, Loan quantity, rate of interest in addition to payment date that is first.

The No. of installments is determined on the basis of the values chosen when it comes to Installment Duration, Frequency, End of and First Payment date month

Features

• Two kinds of Installment Loans – Simple Interest loan that is based Fixed re re re re re Payments (Pre-computed) based loan
• Minimal Decision Points for CSR – Rules into the application address the majority of the parameters Multiple Collateral kinds – aids receipts of numerous checks as security against loans disbursed
• Quantity of installments car computed by taking into consideration the Loan Term desired and also the Income Frequency regarding the debtor
• Schedule of loan to be disbursed determined predicated on rate of interest configured when you look at the guidelines motor
• Alternate very first repayment date function obtainable in the applying
• First re re re re payment date auto populated according to borrower’s next pay date
• End of thirty days options designed for Monthly & Semi-Monthly frequencies
• Car calculation of revised check quantity
• Rebate for very very very very early payoff directed by guideline
• Refinance applicability for a shop / state – controlled by way of a rule “Allow Refinance”

Deals

The menu of Installment Loan related transactions that may be carried out are:

• Installment Loan/ Advance- New or current borrowers can make an application for an installment loan-
• Installment Payment – Borrowers will make partial repayment against a loan, the re re payment quantity can’t be lower than the standard EMI. (For loan type as Simple the revised check quantity equals the stability principal quantity whereas for loans of kind Fixed the revised check amount ought to be the stability principal amount and the Interest for the following re re payment duration.)
• Early Payoff – Borrowers could make complete repayment against a loan.
• Deposit- the answer immediately provides deposit deal when it comes to collateral check, if letter re re payments are due in addition to elegance duration is elapsed.
• Clear Deposited always always Check – this suggests that the be sure ended up being deposited by happens to be honored by the Borrower’s bank.

CAR EQUITY LOAN

QFund TM covers functionalities linked to car Equity loan which can be supplied to Borrowers. For just about any Borrower to avail this loan, they need to be registered with QFund TM .

Features

• It permits the CSR to fully capture the Vehicle Condition details to learn the loan amount that is qualified.
• Any borrower’s loan amount is fixed by the quantity he gets qualified to after operating Tele-track.
• Transfer of name from the borrower’s name into the home loan company, with day-to-day alerts given to pending transfers or alerts on pre-configured guidelines.

Settings into the application:

The different controls which can be confirmed & impacted by the program through the life period of a car Equity Loan are:

Guidelines

Settings for automating functions a few critical functions through the lifecycle of that loan

• APR definition
• Fee configuration for many charges relevant
• No. of missed installments before a notice page is delivered
• Belated cost elegance duration, if relevant
• Collection notice times
• Reimbursement applicability

Reputation codes

The applying is managed by the status that is following which determine loan applicability

• Client status rule
• Loan status rule
• Name status code
• AEL Collection Reputation

Deals

• AEL Loan- New or current borrowers can submit an application for that loan.
• Installment Payment – Borrowers will make their re re payments in installments.
• Early Payoff – Borrowers will make complete repayment against a loan.
• eposit- The solution immediately provides deposit deal when it comes to check that is collateral if n re payments are due as well as the elegance duration is elapsed.