Software needed to manage participant loans in 401(k) plans.

[Guest jrhodes]

We have a particularly large 401(k) client which allows participants to have multiple outstanding loans. We're looking for any kind of loan program which will allow us to more efficiently manage payment receipts, outstanding balances, amortization schedules, etc. Does anyone know of any specialized program for this purpose? There seem to be a lot of loan programs on the Net but most seemed tailored towards real estate issues. Thanks in advance.

[LCARUSI]

I would think those capabilities are incorporated into your recordkeeping system

[Guest jrhodes]

Not if you use Datair.

[Guest judyf]

ASC does a very good job of tracking multiple loans.

[Guest RJM]

I've not heard of ASC. Is it an Allocation system or separate loan software?

[Guest judyf]

ASC is a recordkeeping system. You can do quarterly vals and annual compliance testing. It does allocations, i.e. new comp, integrated, points, etc. You can value multiple loans, print amort schedules. There isn't much that it doesn't do. I have used Datair and ASC is much better.