To decide if you are worthy of a loan, lenders have to take into account a number of factors about you. They look at your income, employment history, and stability. This can be a lot of information to keep track of, and lenders have even more things they need to worry about. Here are four different software solutions to make their lives easier.

Sageworks ALLL

This software has a single point of entry technology, which allows you to enter your financial data once and only once. You then have that data available at your fingertips for the life of the loan. You can try different scenarios with segmentation elections and different models for an estimated impact on allowance and capital. You can also determine the calculation that is most reflective of a loss. You get faster loan turnaround time with this solution which can then lead to booking more loans.

CECL Compliant Loss Calculation

Many banks and lending institutions have been scrambling to prepare for the recent changes in the CECL (Current Expected Credit Losses) standard. Private lenders are no exception to this rule and must also make preparations to update their procedures in compliance with these new standards.

Part of this preparation will likely involve new software implementation to help streamline the lending processes. The best CECL-compliant software solutions will provide methods for comparing expected losses between ALLL and CECL calculation methods. Numerous corporations have already been ahead of the game with state-of-the-art developments.

These current CECL and ALLL standards have been put in place to avoid any future catastrophic financial crises that we experienced in previous years. While there may be a few slight bumps during the transition, there are many available solutions to help get you back running more smoothly than before.


The MST LLA software can be customized to fit your institution’s specific loan procedures. It can integrate with any core system and interfaces such as general ledger, charge-off and recovery, and credit card, among others. Its Virtual Economist tool helps you quickly build correlation and regression analysis between the loan portfolio and important economic data. You can also run parallel scenarios for allowances and test out methodologies in an automated environment that complies with CECL.

MIAC Analytics Suite

This lender software suite adapts with you and your requirements. They are a regulator validated software and have recently developed advanced analytical tools to help you prepare for the new transition. Several of its applications, including DataRaptor-Surveillance (TM) and MIAC CORE (TM), analyze client portfolios payment performance over time as well as analyze the behavior of cashflow forecasts. This solution can mine and manage data and run comparisons for all over the US, including alternate geographies. You are sure to get a thorough and accurate analysis involving every possible scenario.

If you are concerned about the potential chaos and overhaul of your current procedures, you don’t need to be. These software solutions are created to integrate seamlessly into your existing interfaces and environment. They not only provide all of the compliant data you need, but they also save you turnaround time so you can process more loans and focus more on your relationships with clients.

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