Navigation:  Loans > Loan Screens > Investor Reporting Screen Group > Investor Group Screen >

Group Information tab

Navigation:  Loans > Loan Screens > Investor Reporting Screen Group > Investor Group Screen >

Group Information tab

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Use this tab to view and edit information about the investor group being created/edited.

 

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Loans > Investor Reporting > Investor Group Screen, Group Information Tab

 

The Name of the investor selected in the Investor list view and the Group number of the group selected in the Group list view are displayed on the top left corner of each tab on this screen (mnemonic IMNAM/IGGRP).

 

The fields on this tab are as follows:

 

Field

Description

Date of Sale

 

Mnemonic: IGDOS

Use this field to indicate the date of sale for the investor group being created/edited. This date will be used for the beginning date of the first cutoff report if the Cycle Start Date field is left blank.

 

The value entered in this field will be automatically entered in the Pledge or Sale Date field on the Loans > Investor Reporting > Service Released screen if a loan assigned to the group is being service released.

Portion Sold

 

Mnemonic: IGPSL

Use this field to indicate the the percentage sold to the investor for the group being created/edited.

 

Up to five decimal places can be specified in this field. The value in this field is copied to the Portion Sold field on the Loans > Investor Reporting > Loan Investor Fields screen for each loan. Information entered on that screen overrides information entered in this field for the selected customer loan.

Guaranteed Rate

 

Mnemonic: IGGRT

Use this field to indicate the guaranteed yield rate promised to the investor on the group being created/edited. See below for more information.

 

The value in this field is copied to the Current Guaranteed Rate field on the Loans > Investor Reporting > Loan Investor Fields screen for each loan as it is sold. If the value in this field falls below the value in the Current Guaranteed Rate field, the system will short the Service Fee (see below) and credit the investor's interest.

 

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WARNING: The system examines the Loan Investor Fields screen first in all reports and calculations. When determining the Guaranteed Rate, the system will use the value on this screen if sufficient information is not found on the Loan Investor Fields screen.

 

For Multiple Investors

Enter a value in this field at the time the loan is sold to the investor. This will allow the system to calculate a weighted average rate on the multiple investor group record tied to that group. Afterward, sell the loan to the multiple Investor master number and Group number.

 

After the loan is sold, the Current Guaranteed Rate field on the Loan Investor Fields screen is used to calculate payments online and the Investor Remittance Report - Multiple (FPSRP045).

Security Interest Rate

 

Mnemonic: IGSIR

Use this field to indicate the interest rate on securities issued that are backed by the investor group being created/edited (e.g. the mortgage backed bond rate).

 

When there are multiple security interest rates on loans in the same pool, a weighted average rate is calculated by multiplying the Guaranteed Rate (above) on each loan by the beginning security balance of the loan. This total is divided by the total of all loan beginning security balances of in the pool to calculate a weighted average.

Seller Servicer Number

 

Mnemonic: IGSS#

Use this field to indicate the investor-defined number assigned to your institution as the seller/servicer of the group being created/edited.

 

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WARNING: For loans reported by tape, it is very important that the number you enter be exactly the same for all groups in the file.

Pool/Package Number

 

Mnemonic: IGPP#

Use this field to indicate the pool, package, or group number that the investor has assigned to the loan sale for the group being created/edited.

 

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WARNING: For loans reported by tape, this value must be entered exactly as the investor expects it.

FNMA/GNMA Guaranteed Rate

 

Mnemonic: IGGIR

Use this field to indicate the rate paid to the issuer for accepting foreclosure responsibility for the loan package on the group being created/edited. Up to five decimal places can be specified in this field.

GNMA Reporting Code

 

Mnemonic: IGRCD

Use this field to indicate the reporting code needed for the GNMA Investor Report (and GNMA tape) for the investor group being created/edited. See GNMA Reporting Codes for more information.

Transfer to Custodial

 

Mnemonic: IGTCS

Use this field to indicate which loan transactions for the group being created/edited should be transferred to a custodial account (such as an investor checking account). See below for more information.

 

Individual numbers entered in this field define portions of loan transactions (i.e., partial and loan payments), excluding the open new loan transaction. The portions represented by each number are as follows:

 

1 = amount to principal

2 = amount to interest

3 = amount to reserve 1

4 = partial payments

5 = late charges

6 = amount to reserve 2 *

9 = amount to subsidy

 

*Reserve 2 is transferred only if Institution Option OPTE TR2C has been enabled for your institution.

 

For example, if you choose to transfer the principal, interest, and reserve 1 portions of the payment to the custodial account, you would enter “123” in this field. Use the Custodial Accounts tab to specify which deposit accounts the investor portions will transfer to.

 

At present, investor portions can only be transferred to in-house checking accounts. To transfer funds to a custodial deposit account, your institution must have G/L Loan Posting Fields Investor Master (12) and Investor Group (13) set up in your organization options.

Remittance field group

See Remittance field group for more information.

Cutoff and Reports field group

See Cutoff and Reports field group for more information.

Service Fee field group

 

Mnemonic: IGSFC, IGSFM, IGSRTE

Use this field group to view and edit service fee information for the investor group being created/edited. See below for more information.

 

This information is copied over to the Investor Loan Basics tab on the Loan Investor Fields screen (if valid information is entered in the Investor fields on that screen). The value entered on that screen overrides any value entered in this field group for the selected customer loan.

 

The service fee is calculated according to the method specified in the Service Fee field.

 

Use the Service Fee Type field to indicate a service fee guaranteed rate roll option. Possible selections in this field are:

 

•Constant: The service fee is constant. When the loan rate is calculated, the next Guaranteed Rate (above) is also calculated by subtracting the service fee from the next loan accrued rate.

 

•Minimum: The minimum service fee. After the next loan accrued rate and next Guaranteed Rate are calculated (on the Loan Investor Fields screen > Rate Change Information tab), the difference between the two rates is determined. If the difference is less than the minimum service fee, the next Guaranteed Rate is recalculated by subtracting the minimum service fee from the next accrued rate. If this option is selected, "9" or "10" must be selected in the Service Fee field.

 

Use the Service Fee Rate field to indicate the rate to charge the investor for servicing the group being created/edited. Up to five decimal places can be specified for this rate. This rate can be negative. If "10" is selected in the Service Fee field, do not enter a value in this field. The value in this field is copied to the Service Fee Rate field on the Loan Investor Fields screen.

Cycle field group

See Cycle field group for more information.

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