Troubled-Debt Restructuring Utility

Automate Lease Modifications to Power Through These Times of Economic Uncertainty

During this time of crisis, lessors are being encouraged to pursue loan modification programs to mitigate the adverse economic effects on borrowers. In order to enable economic recovery, it is essential that all those involved in the equipment financing community streamline processes.

Through Tamarack’s Extension of Terms Automation Utility (ETAU), the forbearance process for leases and loans is dramatically simplified and accelerated. While legacy lease management systems can only do a few modifications at once and each usually takes an employee’s time. The new ETAU enables Lessors to modify thousands of contracts in a matter of minutes without intervention.

Lessors can now easily modify the payment structure for their customers granting, per the Federal Reserve Bank’s (FRB) guidelines, a 60- to 180-day grace period. All modifications are aligned with FRB’s guidelines for financial institutions, the ETAU enables Lessors to quickly comply with the FRB’s guidance performing:

  • Lease/loan modifications
  • Deferral of Past Due reporting
  • Deferral of Nonaccrual and Charge-off status

Any Troubled-Debt-Restructuring is also documented for both Lessor and Lessee for the purpose of pursuing SBA funding to cover the lost revenue created by the COVID-19 epidemic.

For more information contact Tamarack.

Extension-of-Terms Automation Utility with integration services enabling lessors to automate lease/loan modifications for lessees.

  • Already deployed by nearly a dozen Monitor 100 companies
  • Available immediately, along with integration services.

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