What is Bank Loan Tickler Tracking?

Bank loan tickler tracking is a process that enables the timely follow-up of items that must be tracked throughout the life of both consumer and commercial loans. This includes anything that requires periodic updating or validating in order to maintain compliance and a well-managed portfolio.

What Should Be Tracked?

Financial institutions engage in loan tickler tracking to stay on top of items that require attention to mitigate risk and to stay in compliance with state and/or federal banking regulations. Such items include:

• Initial loan file documents: Bank staff must ensure each loan file is complete and follow up on any missing documents, such as a deed of trust or title policy.
• Compliance measures: Loan tickler tracking is also used to track compliance-related initiatives. For example, real estate loans require a yearly assessment of escrow overages and shortages.
• Covenant agreement adherence: Banks also monitor customer adherence to commercial loan terms. For example, let’s assume an original loan agreement stated that the loan amount must not exceed 80 percent of the borrower’s eligible receivables. Therefore, bank staff will need to receive, inspect, and record quarterly receivables reports from the customer.
• UCC financing statements: Banks must renew UCC filings every five years. Failing to file within a 180-day period prior to expiration creates serious issues for the bank, which is why proper tracking is vital.
• Insurance: Financial institutions also monitor customer insurance coverage. Without insurance on a car or home, for example, a bank has no means of recouping its loan amount if a customer would have an auto accident or house fire.

What Systems Are Used for Bank Loan Tickler Tracking? 

Financial institutions rely on a wide array of tracking methods. This can range from a simple spreadsheet or database to an application created in-house. These systems typically rely on manual data entry by staff. Introducing the human aspect also increases the risk for error.

Some financial institutions use features in their core system, while others use a generic tickler application retrofitted for banking use.

Still other banks use an all-in-one imaging and tracking system, like AccuAccount, which integrates to the core and automates the creation and reporting of exceptions.

Tracking Resources

For more information about bank tracking and management, be sure to check out our extensive resource library with free spreadsheets, whitepapers, and ebooks.

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