Commercial lenders waste countless hours manually reading loan agreements, calculating payoffs, and generating letters. Each payoff request requires staff to hunt through SharePoint, parse complex PDF agreements, manually calculate daily interest accrual, and create custom payoff letters. This process is slow, error-prone, and expensive.
The Manual Loan Servicing Problem
A typical commercial lender processes 50-200 payoff requests per month. Each request takes 15-30 minutes of staff time:
- Document Hunting: Search SharePoint for the loan agreement PDF
- Manual Reading: Parse complex agreements to extract payment terms, interest rates, prepayment penalties, and fees
- Calculation Errors: Use spreadsheets to calculate daily interest accrual, often getting day count conventions wrong
- Letter Generation: Manually create payoff letters with breakdowns
- No Audit Trail: Limited documentation of calculations for compliance
This manual process costs companies 12-40 hours per week in staff time and creates errors that lead to incorrect payoff amounts.
How PayoffAgent.com Automates Loan Servicing
1. AI Document Extraction
Upload loan agreement PDFs and PayoffAgent's AI automatically extracts:
- Loan amount and origination date
- Interest rate (fixed, variable, step rates)
- Payment schedule (monthly, quarterly, custom)
- Balloon payments and residuals
- Prepayment penalties and fees
- Day count conventions (Actual/360, Actual/365, 30/360)
The AI handles complex agreements that traditional OCR cannot parse, including tables, step payments, and variable rate schedules.
2. Accurate Payoff Calculations
PayoffAgent calculates payoffs with precision:
- To-the-Day Accuracy: Calculates daily interest accrual using correct day count conventions
- All Fees Included: Automatically applies prepayment penalties, late fees, and administrative charges
- Complex Structures: Handles balloon payments, step payments, and variable rates correctly
- Multiple Scenarios: Calculate payoffs for today, next week, or any future date instantly
3. Professional Payoff Letters
Generate complete, professional payoff letters instantly:
- Detailed breakdown of principal, interest, fees, and penalties
- Good-through date with per-diem interest
- Wire instructions and payment address
- Branded letterhead with your company logo
- Download as PDF and email directly to borrowers
4. SharePoint Integration
Connect PayoffAgent directly to your company's SharePoint:
- No manual document uploads
- Automatic synchronization of loan files
- Version control and document tracking
- Search and retrieve agreements instantly
5. Enterprise Security & Compliance
Built for financial institutions:
- SOC 2 Certified: Bank-level security and compliance
- Multi-Tenant Architecture: Complete data isolation between companies
- Row-Level Security: Role-based access controls
- Audit History: Complete trail of all calculations with timestamps and user information
- Encrypted Data: All documents and data encrypted at rest and in transit
ROI: The Numbers That Matter
For a commercial lender processing 100 payoffs per month:
- Time Saved: 20+ hours per month = $2,000-$4,000 in labor costs (at $100-200/hr loaded cost)
- Error Reduction: Eliminate miscalculations that lead to revenue leakage or disputes
- Faster Turnaround: Instant payoff quotes improve borrower experience
- Scalability: Handle 2x volume without adding staff
Case Study: Mid-Size Commercial Lender
A $200M AUM commercial lender implemented PayoffAgent.com:
- Volume: 150 payoff requests per month
- Before: 25 hours/month of staff time, frequent calculation errors
- After: 3 hours/month of staff time, zero calculation errors
- ROI: 88% reduction in processing time, $30K/year in cost savings
Getting Started
PayoffAgent.com is designed for commercial lenders, equipment finance companies, and specialty finance operations:
- Quick Setup: Connect SharePoint and configure your fee structure
- Upload Agreements: Bulk upload existing loan agreements
- AI Extraction: AI automatically extracts terms from all PDFs
- Start Processing: Generate payoff letters instantly
Stop Manual Loan Servicing
Your competitors are already automating loan servicing. Don't waste staff time on manual calculations when AI can do it better, faster, and more accurately.