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RETAIL’s optional
Securitization module works
within the system to create
pools of loans or lines, sell
the pool, service the loans or
lines, create investor reports,
and repurchase the pool.
You can create the pool using
online selection parameters.
Pool distribution reports are
created to allow you to refine
your selection. Any loan or line
characteristics, as well as
random selection, can be used to
form the pool. When a line of
credit is sold that has fixed
rate loans attached to it (the
Fixed Term Loan
Option), the entire facility can
be automatically included in the
pool. |
The pool
is sold using a single
online transaction. The
securitized loans are
tagged with the pool
number and investor
records are created
automatically. General
ledger transactions are
produced to move the
assets off of your
books. When the pool is
sold, reports are
produced to facilitate
calculation of the gain
on sale.
Servicing of the
securitized loans is
transparent to the user.
All transactions are
posted to the loan and
automatically passed
through to the investor.
Transactions are
provided to close a line
of credit and
automatically close the
associated investor
record. Investor
remittance and balancing
reports are prepared
daily for each pool. An
option is provided to
pass prepayment
penalties to the
investor.
When a line of credit
that uses RETAIL’s
tiered rate interest
accruals is sold to a
pool, the investor can
also accrue interest on
a tiered basis to
accurately reflect the
investor's income from
the asset.
During the life of a
pool, it may become
necessary to repurchase
a loan or line. This is
easily done by paying
off the investor
record. General ledger
transactions are
automatically created to
move the asset back to
your books. Individual
loans can be added to a
pool by setting up an
investor. General
ledger transactions are
generated for the
individual loan
additions.
Monthly
investor reports are
prepared automatically.
The monthly reports
include a monthly pool
recap and past due
report. The recap can be
configured to the
investor requirements.
When you want to
repurchase a pool, you
can do it with a single
online transaction.
General ledger
transactions are
generated to move the
asset back to your
books.
RETAIL keeps a
detail record of each
transaction for the
investor. These
transactions are a
valuable tool when doing
research. |
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