The system assists in the saleable Loans selection, providing a tool to select saleable loans by custom criteria.
Criteria is usually defined by the potential loan buyer, and is saved in the system in a structured way.
It describes what kind of loans can be sold to the particular investor and may contain such conditions as: desired loan products, risk groups, allowed late statuses, and other.
The system handles loan sale to investors automatically, by preparing necessary document packages for each loan (print, pdf). List of documents to be prepared can be obtained automatically or customized. Document templates can be customized as well.
The system automatically updates loan record with information about new investor, as soon as loan is sold. Notification to clients about change of loan ownership is automated.
While servicing investor portfolios, the following methods of accounting with investors are supported:
- Actual/Actual : Investor receives interest and principal from actually collected by the servicer
- Actual/Scheduled: Investor receives actually collected principal and scheduled interest
- Scheduled/Scheduled: Investor receives scheduled principal and scheduled interest