Funds Disbursements Services

Many local Agencies, in keeping with national objectives, have developed housing and economic development programs. However, the fund disbursement needs of these types of programs can be challenging. Finance and Community Development departments must strike a balance between standard Finance Department procedures and the need for a fast turnaround of loan and grant proceeds. AmeriNational has been the disbursement solution for over 30 years.

The Agency places total loan proceeds into a trust account with AmeriNational (through its parent--American Bank). AmeriNational disburses funds (in most cases, the same day) according to the instructions and/or Authorizations for Payment, signed by both the Agency and the borrower. But unlike other private sector banks/ companies, AmeriNational provides reports that are specifically designed for the unique needs of the Agency.

This approach benefits the finance department, rehabilitation staff, the contractor and the borrower.

The Finance Department need only book total loan proceeds into their general ledger system. AmeriNational's monthly reports act as subsidiary journals for the numerous checks disbursed during the project. Furthermore, AmeriNational prepares 1099 forms on behalf of the Agency.

Service Menu

• Loan Portfolio Management
• Delinquency and Default Follow-Up Management
• Loan Processing And Underwriting
• Loan Document Preparation
• Fund Disbursements Services
• Davis-Bacon Wage Compliance Monitoring
• Residual Receipt Analysis
• Compliance and Financial Monitoring
• FSS Escrow Funds Management

Turnkey Program Services

• Down Payment Assistance Programs
• Rehabilitation Program Services