January 16, 2015

RETAIL Home Equity Line of Credit (HELOC)

RETAIL Home Equity Line of Credit (HELOC)

Home equity line of credit (HELOC) processing is integrated into the retail system. A single inquiry gives you access to the total customer debt relationship. RETAIL Home Equity Line of Credit handles lines large and small. Set up different product profiles for your credit line products, including interest rates, fees, payment plans, and late charge plans.

The system features multiple flexible payment plans and produces detailed customer statements. Line amounts are flexible; you can increase or decrease the amount at any time. A history of all line changes and a complete audit trail is stored in the system. It also stores and tracks collateral, allowing you to track the collateral value and maintain a history of appraisals.

RETAIL Home Equity Line of Credit are all maintained in compliance with all federal regulations, including Truth in Lending and the Credit CARD Act.