What is Lacoda?Lacoda is a web-based loan servicing and management solution designed to assist lenders and loan servicers in managing all sizes of loan portfolio, whether a single loan or hundreds. Users can manage any combination of loan terms, with unlimited options including varying interest rates, multiple lenders, and construction escrow.
Lacoda offers real-time online access to borrower and lender details, with lists of all borrowers and lenders and their individual loan totals, and a database of contact information and tax ID numbers. Users can also view a list of all active loans, with their principal balances, and breakdowns for each individual loan including the terms and details, principal history, funding, interest, late fees, transaction fees, unpaid items, and any associated notes or reminders.
Lacoda automatically generates monthly and end-of-year borrower invoices and lender statements. Monthly borrower invoices include a summary of all active loans, and breakdown of each loan, with any unpaid amounts, the principal balance, and an interest calculation table. Monthly lender statements also include a summary of loans, and each loan’s breakdown with collections and uncollected amounts, accruals, interest, late fees, transaction fees, and points, and an interest calculation table.
Lacoda also allows users access to full transaction histories, which can be filtered by date, payer, or recipient, with payment totals, withdrawal/escrow deposit totals, and by-item breakdowns of individual payments.