Loan management is much more involved then knowing how the current loan value. Important aspects like collateral/security and arrears help paint the true picture of the current position of a loan.
Managing arrears is an important aspect as it highlights any borrowers who are behind in their payments or term. Being in arrears is key indicator of potential default.
Task management is the only arrears management currently available. To help lenders better manage their arrears especially in the mortgage security types, arrears management will be built out. Arrears balances and transparency will be added in providing the transparency required. A series of workflows will be created from this as well as notifications to the relevant stakeholders.