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FAQs

DownHome Loan Manager (DLM) was designed specifically for community lenders, with special attention given to the special reporting requirements of community lending programs. Whether your agency operates a single microloan fund or multiple portfolios serving a variety of community development purposes, DLM will help you keep track of your overall portfolio and adjust to your needs as you grow.

Many of DLM’s features were developed to meet agency reporting requirements. In DLM, loan accounts are identified by funds (e.g., by CDFI, SBA, EDA, USDA, private funds, etc.) to make it easy for you to prepare reports to government, foundation, or private funders. In addition to monitoring loan accounts, DLM keeps demographic data on your borrowers, so you can demonstrate that your program is reaching your target audiences.

DLM is a flexible system that accommodates the non-standard repayment schedules and adjustable terms that some alternative financing deals require. DLM makes it as easy as possible to change loan terms “on the fly” for scheduled loan transitions. Adjustments for workouts can also be made as these circumstances arise.

Yes. DLM is a robust, full-featured relational database system, with a very large data storage capacity. DLM can easily store tens of thousands of record transactions, well beyond the requirements of most community-based agencies.

DLM expands with your agency as well. The software lets you add new loan programs as you grow. Since you can query the database by loan fund, DLM gives you the flexibility to report back to each funding agency according to the schedule they require. A single borrower may have one or several loans, which can originate from different loan programs in your overall portfolio. DLM offers many automatic payment transaction functions to match the payment crediting options you need.

Yes. All editions of DLM come with a complete billing component. DLM produces monthly paper statements to be printed on letterhead and mailed, or electronic statements with a customized template to be sent via email. Each billing statement includes detailed information about the status of the loan account so your borrowers knows precisely where they stand. This information includes: the due date, minimum monthly payment amount, total past due, any fees that have been assessed, and the payoff balance. Past due amounts are broken out by 30-day delinquency increments. A box also displays the date and amount of the borrower’s last payment, detailing how it was credited to fees, interest, and principal.
DLM offers a wide variety of reports that will keep you on top of your loan accounts and help you report back to funders in a timely manner. Some examples:

Portfolio status:
Want to know the current status of all of your loan accounts right now? With a click of a mouse, you can display or print a report summarizing all accounts by loan fund, detailing each borrower’s current balances, delinquency information, when their last payment was made, the amount of their last payment, etc.

Quarterly reports:
Do your funders require you to report back to them on the performance of your loan funds each quarter? Semi-annually? Annually? DLM’s transaction summary reports can be printed out by loan fund and date range. These reports show how much money you’ve lent during a time period you specify, how much you’ve received in borrower repayments, and what portions have been credited to fees, interest, and principal. And since you can ask for one or all of your funds, you can restrict your reports to the exact set of data you need.

And many more, including:
Trial Balance
Delinquency
Transaction summaries
Transaction details
Closings
Maturity
Loan status changes
Year-end 1098 interest statements
Loan demographics

Yes. DLM will create amortization schedules that detail a borrower’s month-by-month payment schedule, broken out by interest and principal portions. Amortization schedules may be viewed, downloaded, or printed. The amortization scheduler also allows the user to test various “what if” scenarios by hypothetically changing the terms of an existing loan.
DLM Cloud Edition and Desktop Select Edition offer multiple formulas for calculating interest. You can pick and choose, loan by loan, whether to follow simple (daily) interest computed on a 365-day year or on a 360-day year. You may also choose a fixed monthly calculation method (approximating a fixed monthly amortization schedule).
Yes. DLM easily handles multiple loan disbursements. Simply post them when such transactions are made and DLM will take care of the daily interest details.

Example: Let’s assume you set DLM to follow a daily (simple interest) formula, based on a 365-day year. If you disburse additional funds to the borrower in the middle of a payment cycle, DLM will accrue the interest due according to the number of days the borrower has used the smaller balance, then will calculate daily interest from the disbursal date based on the higher balance.

Yes, DLM will properly update a loan account when multiple disbursements are made. You may set whatever minimum payment requirements are called for by your loan agreement (for example: no monthly payment, minimum level payments, interest-only payments, etc.).
DLM easily handles loan term changes, whether they are interest rate changes, term extensions, or changes in the monthly payment requirements. DLM is designed so you can change the terms of a loan “on the fly” to accommodate non-standard repayment schedules, variable terms, workouts, etc. Simply change the terms as required by the loan agreement.

Example: Let’s say you need to structure a loan so that only interest-only payments are required for the first three months, followed thereafter by full payments amortized over the remaining life of the loan. In this case, you will define the loan terms in DLM to match the terms that apply at the beginning of the loan (e.g., set the minimum payment to equal the interest-only payment amount). Then, at the end of the initial 3-month period, simply re-set the minimum payment to the larger amount. DLM will post payment transactions according to whatever terms you specify. DLM also has a built-in tickler system to remind you of upcoming loan term changes (and any other matters you want DLM to alert you to).

Yes. DLM includes data fields for key demographic information that you are likely to be required to report to federal or foundation sources. Key fields include information about individual clients such as ethnicity, gender, veteran status, whether they reside in an Empowerment Zone or Enterprise Community, etc. Fields are also provided for business data, including business status, size, SIC codes, etc.
All editions of DLM can accommodate as many users as you need, and everyone can be signed on simultaneously. The DLM Cloud Edition core subscription pack includes 2 users, and extra user packs are available to add on. The DLM Desktop Edition licenses do not include a limit on the number of users.
Take a look at our DLM Edition Comparison Chart, see which Add-On Modules are available in each edition, or give us a call toll-free at 877-800-4476. We’re happy to help you determine the right fit.
Yes. You can access DLM Cloud Edition from anywhere in the world. All you need is an Internet connection.

DLM Desktop Editions are tied to a local network and therefore do not allow for working remotely.

No. DLM Cloud Edition runs on a browser on your PC or Mac.

DLM Desktop Editions run only on PCs. They are distributed with a runtime version of the database engine and relational database, which is licensed to you as part of the DownHome Loan Manager software application.

DLM Cloud Edition system requirements: Chrome browser installed on your PC or Mac.

DLM Desktop Editions system requirements: Please see Desktop Technical Specs.

Yes. Let us convert your existing data and import it into our system to make your transition flow smoothly. We’re also happy to help current DLM Desktop Edition users migrate to the cloud. Call us toll-free at 877-800-4476 for a quote.
We offer telephone support on demand and pride ourselves on same-day service. Please see Tech Support for details.
Yes. We’d love to walk you through a personalized tour the software with one of our staff. To schedule a demo, fill out our online form or call us toll-free at 877-800-4476.