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.
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.
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.
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:
Loan status changes
Year-end 1098 interest statements
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.
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).
Operating system: Microsoft Windows®. DownHome Loan Manager is a Windows-based program, so it requires Windows to run (Windows 8, 7, Vista, XP).
Network operating system: For its multi-user network versions, DLM will operate on a variety of popular network operating systems. The following are fully supported: Microsoft 2012 Server, 2003 Server, 2000 Server, Novell. DownHome Loan Manager may also be set up on a peer-to-peer network (in which several PCs share files without the use of a dedicated server). DLM may also be configured for remote access through Microsoft Remote Desktop, terminal services, Citrix, etc.
Minimum memory (RAM): 32 MB minimum. 128 MB or more preferred.
Disk space: 20 MB for the program. Disk space for data tables will vary depending on amount of data records to be stored.
DLM is 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.
Furthermore, a system administrator may assign variable access rights to individual users. For example, one user may be given full editing rights while another may be assigned read-only rights, allowing them to view account information and print reports, but not change the data itself.