We can track that through our construction monitoring software.  We use a 3rd party, Built, not the core.


Thanks – Katie

 

KATIE BREZLER

SVP - Loan Servicing Manager

MVB & Mlend

Phone

(240) 850-4411

Email

xxxxxx@mvbbank.com

Website

mvbbank.com

MVB Operations Center
480 N. Potomac Street
Hagerstown, MD 21740

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From: xxxxxx@marug.simplelists.com <xxxxxx@marug.simplelists.com> On Behalf Of Amy Shimp
Sent: Wednesday, July 3, 2024 4:19 PM
To: xxxxxx@marug.simplelists.com
Subject: SilverLake MA-RUG Interest Reserves

 

The e-mail below is from an external source. Please do not open attachments or click links from an unknown or suspicious origin.

Would any banks be willing to share how you handle the tracking of interest reserves for loan accounts?  Do you track them on core?

 

We are struggling with a method that will track them on core, process the monthly interest payment when due and restrict the interest reserve amount from the overall credit line amount so funds are not overadvanced.

 

Any suggestions provided would be welcome.

 

QNB Bank logo

 

QNBbank.com

Amy Shimp

Vice President

Loan Services Manager

 

P 215-538-5600 x5629

E xxxxxx@qnbbank.com

 

 

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