LoanWatch is a web-based software program that we use to create an Asset Based Loan (ABL) Borrowing Base (BB), using an advanced rule-based ineligible calculation. What used to take borrowers and lenders hours/days to complete can now be done in minutes. Once the borrower is set up, the borrower’s data is uploaded into Loanwatch permitting a Borrowing Base to be created immediately.
LoanWatch allows lenders to confidently, proficiently and cost effectively make loans to new customers or manage the loans of existing customers. Banks and non-banks that provide ABL loans can use this software to greatly reduce the time and cost of creating a BB that can be Relied upon to be a true representation of the borrower’s collateral, thereby allowing the user to quickly identify and minimize risk.
CoreVision provides various levels of service from complete loan/portfolio management to lightly monitored oversight.
LoanWatch® is used for:
- Collateral monitoring of secured loans using automated data collection tools, ability of borrower to upload data, sophisticated collateral analysis and monitoring tools, as well as configurable rules and reports.
- Collateral Analysis provides all necessary functionality to manage collateral. This includes calculating borrower's availability and ineligibles in real-time and tracking balances utilizing real-time data from the borrowing base. Other key features include, ineligible calculations including contras, credit limits, cross aging, skipped invoices, foreign, at debtor or invoice level.
- Ineligible collateral can be updated on a timely basis. Credit limits and holds for debtors are maintained in LoanWatch and do not have to be reset at each update to collateral. Many ineligible items are calculated automatically at each upload, for example cross aging, concentration limits, removing credits from 90 day column, and AP aging’s to check for contras.
- Reports are provided online and available as they are processed in Excel or PDF formats for emailing or saving purposes. Included are many standard reports, such as availability reports, aging comparison reports, aging trend, concentration, loan ledgers, and period to period analysis.
- Provides alerts for any exceptions found while monitoring collateral and other customer data. The exceptions are triggered by business rules defined in the system. We provide pre-built rules but can be configured to your business requirements. Alerts and Ticklers can be sent via email; in addition a robust alert management system is built into LoanWatch.