The On-Line Loan Collection Module (OLC) automates the process of collecting delinquent loan payments. OLC standardizes collection procedures, develops a daily agenda for each collector, and documents collection activity.

Procedures that have proven effective for experienced collectors can be set up as standards to guide the efforts of all collectors. The standards help ensure proper steps are taken in the correct time frame.

Delinquent notes are automatically assigned to collectors. Complete note information is available for on-line review, and collectors can record their efforts on a real-time basis.

OLC Summary

OLC automatically extracts past due notes from the Premier Loan Application. Even before notes are automatically assigned to collection, loan officers have past due information available for on-line inquiry to help them work with delinquent notes. Once notes are in collection:

• They are automatically assigned to collectors, based on note characteristics and collector workload. Specifications are used to define the methods of assigning notes.
• Policy specifications establish the standard sequence of collection activity events. The standards are easily modified to fine-tune every aspect of the collection process.
• An on-line agenda is automatically generated for each collector to help organize activity.
• All collection data is retained and reported for a complete audit.