Benedict Unveils Dot-Net Software
Benedict Group Inc. has added a new product to its menu of loan management applications, called "LOANS! For .Net." The servicing, accounting and investor tracking system is designed for commercial, consumer and multifamily loans, the company said.
The new release of LOANS! is based on Microsoft's VB.Net and SQL Server technology, the company said, noting that this is a widely used industry-standard platform for computer systems. "The use of .Net and SQL Server enhances LOANS!' value by offering improved integration with Microsoft Office and third-party software products, and Internet access with Microsoft's ClickOnce technology," said Ann Wood, executive vice president at Benedict Group, in a news release.
The new version of the company's software is modeled after its original LOANS! For Windows software, which was first released in 1990.
"It provides processing support from loan application through payoff or sale, including escrow processing, multipayer subsidies, lockbox processing, ACH and GL interfaces, collections and restructuring support, image and document management, asset management reporting, financial statement tracking and workflow management."
Benedict Group is marketing the new software under its "Build, Buy or BGI" program, which allows clients to license both the LOANS! application and its source code.
"Previously lenders could either build their servicing software in-house or depend upon one of our competitors for all of their software and enhancement needs. With our products, however, lenders have a third choice: they can license BGI's feature-rich software, receive support and upgrades from BGI, and still have the ability to make enhancements in-house as needed," said Guy Angione, vice president of client relations.
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