AmSouth Bank has implemented the AFSXpress Paralender commercial loan processing package from Automated Financial Systems (AFS).
The bank has installed the software on desktop workstations for commercial and commercial real estate paralenders, and for paralenders in the business loan centre.
The system enables users to enter loan data, such as amount and terms, only once to produce loan documents and automatically book loans to AFS Level III, the commecial accounting system for record. Users will also soon be able to review imaged loan documents from their desktop.
The original documents are then sent to commercial loan services for imaging and indexing. Indexing enables the documents to be retrieved electronically by name, tax ID or customer numbers. The CLS collateral processor retrieves the imaged documents and accesses the collateral module of AFSXpress for a post closing review, flagging any exceptions for review.