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Revolving Loan Servicing System

MainScreenRLSS

GMS-RLSS maintains loan profile data, records loan transactions, and meets the reporting requirements of state and federal programs. GMS-RLSS is specifically designed for organizations who must keep track of information for different funding sources — even for multiple funded loans.
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Loan Master File

Masterfileborrower The Loan Master Files are the key to the rest of the system. The three screens for information pertaining to the loan and its terms keep all data that relate to the loans. Optional fields created by your agency allow you to track additional agency-specific items.
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Loan Master File

MasterfileStats Characteristics of the loan such as jobs information, financing data, repayment terms, collateral type, use of funds, ethnicity, income levels, notes on the loan, escrow information are all kept in this main area.
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Loan Master File

Masterfileterms Multiple funding sources for loans are easily handled within each loan. Using the loan fund selection option, you can select from unlimited user-defined funding source choices.
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Loan Activity

Loan_Activity Loan Activity allows loan repayments to automatically be computed based upon terms established in the loan master file. Calculation of principal, interest, service fees, late fees and escrow amounts are automatic. If special terms apply, you always have the option to override the automatic calculations.
Two methods of interest computation are built into GMS-RLSS: calculation based upon an amortization table and calculation based upon number of days lapsed since last payment (daily interest method). These options are loan specific, allowing flexibility.
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Loan Activity

Monthly_Activity_Report The Monthly Loan Transaction Activity Report is the key to reconciling with your accounting system each month, providing the data required to prepare a journal entry. This report also serves as the proof register for all transactions entered throughout the month.
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Reporting, Amortization Schedules and Additional Features

reportingmenurlss

Reporting
Reporting is very important to your agency, and is an intricate part or the GMS-RLSS system.

The reports menu puts the basic reports in one easy to use menu and makes retrieving information a snap.

Standard reports include: Loan Payment Status Report, Loan File Aging Report, Current/Non-Current Balances, Analysis by Fund, Accrued Interest Report, Borrower Profiles, Portfolio Statistics, and the Monthly Activity Report.

Amortization Schedules
Amortization tables can be computed for virtually any combination of terms, including special terms such as interest only or balloon payments. Different payment amounts throughout the loan term are also accommodated.
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Security

Securityrlss

GMS-RLSS has an internal security program that allows you to set up each user with access only to those areas they are authorized for.

A password is set up and selections are made for each area of the system. These include master files, reports, amortization, tools, and journal entries. It is also broken down by review, edit, and create where applicable. Access to the database can be limited to one or two persons so that your system is safe and secure.
 

Software Warranty and Continuing Support Services

Our software warranty and continuing support program assures that your revolving loan system will function and perform for your organization for many years to come.

GMS maintains a Service team to provide complete client support by telephone. Our Service team consists of former clients who have served in a Fiscal Officer capacity. Located in various parts of the United States, we are able to provide support and service to GMS clients in all time zones.

GMS places an exceptionally high priority on quality service. We maintain service histories on all clients, and invest in-service training to keep our staff current with GMS products.

All GMS services are provided toll free. Hours are 8:30 to 7:00 EST Monday through Thursday and 8:30 to 5:00 EST on Fridays. Service calls may be placed online, as well as by telephone, fax or e-mail. GMS policy is to respond within 2 hours or earlier depending upon the circumstances.

There are two levels to our warranty and continuing support program.
 

Basic Warranty and License

All clients subscribe to a warranty and license which includes selected services. Our commitment is that your software continues to function and remains operationally current.

Here is what the basic warranty and license includes:

  • GMS is a single user version, additional user licenses are available.
  • Software updates and upgrades will be available to keep your software functionally current with the overall GMS Revolvling Loan Servicing System.
  • Help files are provided which contain instructional usage of the GMS system.
  • News from GMS – our monthly newsletter emailed to clients and available here.
  • Toll free access to the GMS Service Staff for assistance with software operation issues.
  • Ability to attend the GMS Annual Users Financial Management Conference and specialized post conference intensives and take advantage of our user registration fees.
  • GMS Supplement Catalog and access to GMS Supplements and Enhancements.
 

Continuing Support and Service

Options are provided for continuing service – a full unlimited service program for loan and software operating assistance, or, a limited “pay as you use” assistance program.

To provide your staff unlimited support when the system is first implemented, all new users subscribe to our full service program for the first year.

These support services are provided on a continuing basis:

  • Assistance correcting user operating errors including diagnosis of problems, reconciling amounts and posting assistance.
  • Advice on all aspects of system operations including handling of specific transactions.
  • Advice on hardware.
  • Assistance to auditors in interpreting reports and functions performed in the GMS system.
  • Access to GMS knowledge and experience about loan management, accounting, non-profit financial management, federal assistance regulations and accounting and audit standards.
  • General “problem solving” support which might apply to any aspect of system operation.