Our loan servicing solutions include:
HELMS™: Higher Education Loan Management System
HELMS™ Brochure
Unlimited Options for Servicing, Buying and Selling FFELP and Private Student Loans
5280 Solutions’ HELMS (Higher Education Loan Management System) is a complete,
end-to-end educational loan servicing system for FFELP, consolidation and private
loan programs. While currently used by some of the largest financial institutions
and student lending organizations in North America, it is designed to meet the needs
of any client – large or small – regardless of loan volume, and it operates
on a variety of platforms.
Control Your Loan Program Costs, and Your Destiny
Having the control to internally service loans gives you the ability to better manage
customer service levels, costs, schedules and operations. With HELMS your institution
can benefit from the flexibility derived from the extensive use of user-defined
control records that control system processing. You can easily design new loan products
and service multiple guarantors, loan product types and lenders under one copy of
the software.
Solution Design Features:
- One master record for borrower's loan information regardless of the number of guarantors,
loan types and lenders serviced
- Automated maintenance and processing of up to three co-signers and three references
per loan
- Automated loan approval processing from guarantor or CommonLine formats
- Web accessibility to loan information for the borrower, lender and school for user
ease and convenience
Reporting and Processing Features:
- Automated, self-balancing reports verify system integrity
- Ability to schedule, cancel, and/or reschedule loan disbursements
- Complete audit trail capability by loan types and individual borrower
- Automated general ledger ability to feed directly to an institution’s accounting
system(s)
- Complete due diligence, collection, and skip trace processing functionality
- Retroactive processing
Loan Payment Features:
- Electronic payment capabilities from borrower's checking or savings account with
reduced interest rate options
- Ability to calculate, track and reconcile insurance fee billing and adjustments
between the lender and guarantor
- Ability to generate scan-able billing statements or coupon book requests
- Online capabilities including payment and deferment history, loan balances and creation
of payment schedules
HELMS is also a loan origination
system, capable of originating FFELP, private and consolidation loans. With
HELMS you can originate loans and then sell, transfer and securitize them at any
point in their lifecycle.
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Student Loan Servicing System (SLSS™)
SLSS™ Brochure
5280 SLSS Solution – Loan Servicing for FFELP and Private Student Loans
With 5280 Solutions’ Student Loan Servicing System (SLSS) your institution can effectively
service both FFELP and Private student loans. SLSS allows you to deliver quality,
customer-focused programs knowing that your administrative staff can easily and
effectively service these loans on the back-end. The SLSS client base includes some
of the largest secondary markets and state agencies in the United States.
With SLSS you can take advantage of functional benefits to increase customer and
administrative satisfaction. One is retroactive processing that automatically and
immediately adjusts records for past transactions to show the most up-to-date information
of loan balances and status. With retroactive processing you can avoid the manual
calculation and data entry required to update and adjust a loan.
Another unique benefit is the ability to create daily accounting and reconciliation
reports that provide a detailed summary of loan balances – eliminating the lengthy
process associated with gathering and comparing information from multiple sources.
SLSS Features that Enhance Loan Servicing Include:
Caller Contact Maintenance – This module provides an easy way
to ensure due diligence is performed in accordance with insurance requirements.
Mass Transaction Entry – Easily import data such as new loan
information, payments, disbursement, deferment and forbearance changes, from various
outside sources.
Financial Calculator – Supports repayment schedule calculations
based on both actual and user entered hypothetical loan data.
Borrower Incentive Control – Easily track and manage loan incentives,
such as reduced interest rates or fees that competitive lenders offer.
LaRS Reporting – Automatically generates reports, in LaRS format,
supporting Parts I through V of the government LaRS Form.
Additional Automatic Features of SLSS Include:
- Credit Bureau reporting
- Automated Clearinghouse (ACH) processing for bank draft borrower payments
- Late charge assessment
- Small balance write-offs
- Interest rate changes
- Letter/statement generation
- Statement suppression
- Claim package and pre-claim assistance generation
- Social Security number corrections
- NSLDS reporting
- Generation of disclosure repayment options
- Common Account Maintenance (CAM)
- Common Claims Initiative (CCI)
- Total Enrollment Reporting Process (TERP)
- Borrower Web Interface (BWI)
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STAR™ System – Loan Servicing for Private Loans
STAR™ Brochure
For those interested in servicing private loan programs, 5280 Solutions’ STAR System
enables your institution to effectively and efficiently manage and service your
loan portfolio. From simple principal and interest loans to complex loan programs
with tiered interest rates and fee structures, the STAR System can support a broad
array of diverse private loan programs while providing automated functionality.
Flexibility – STAR is a profile-based system. Profiles allow
for user control of system, lender and loan level processing parameters. This means
the rules for schools, lenders and participants – as well as the multiple
levels of detail for loan programs – are all table driven, resulting in the
ability and flexibility to service a multitude of diverse loan programs.
Ease of Use – STAR was designed with the end-user in mind. STAR
has the familiar look and feel of a Microsoft application, intuitively guiding customer
service representatives through loan servicing screens. STAR enables Administrators
to set up new loan programs from their desktop by simply selecting the desired options
for each loan status.
Scalability – Based on state-of-the-art Microsoft technology,
the STAR System is adaptable and scalable to manage several hundred concurrent users
and multi-billion dollar loan portfolios. Leveraging the advantages of the Microsoft
backbone results in less technical programming requirements, faster response times
and overall reduced dependency on your internal IT department.
Additional Features of STAR Include:
- STAR Servicing system completely integrated with Web Origination/STAR Origination functionality
- All custom reporting/operational reporting delivered via the web
- Windows Workflow/Sharepoint integration with STAR
- Borrower Benefits Processing
- Full Online Transaction History in STAR
- Full IRS 1098 Reporting
- Automated Collection Call Queue Generation
- Full Online Due Diligence History
- Claim Payment Processing
- Due Diligence Processing
- Variable and Indexed Interest Rates
- Deferment Processing
- Full Deferment History
- Full Credit Bureau Reporting
- Automated Collection Letter Generation
- Retroactive Processing
- Internet Access for Borrowers, Schools, Lenders
- Full Disbursement and Reconciliation History
- Full Deferment and Repayment History
- Automated and On-Demand Letter Generation
STAR is also a loan origination
system capable of originating diverse, private loan programs.
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