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Investor Calculations tab

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

Investor Calculations tab

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Use this tab to view and edit information about methods used for calculating the different components and charges for loans in the investor group being created/edited.

 

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

 

lirligs_investorcalctab

Loans > Investor Reporting > Investor Group Screen, Investor Calculations 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.

 

The fields on this tab are as follows:

 

Field

Description

Principal

 

Mnemonic: IGPCM

Use this field to indicate a calculation method for the investor's principal portion of a payment for the group being created/edited. See Principal for more information.

Interest

 

Mnemonic: IGICM

Use this field to indicate the calculation method for the investor's interest portion of a payment for the group being created/edited. See Interest codes for more information.

Service Fee

 

Mnemonic: ICSCM

Use this field to indicate the calculation method for service fees charged to the investor for the group being created/edited. See Service Fee codes for more information.

Payoff Interest

 

Mnemonic: IGPAC

Use this field to indicate the calculation method used in the group being created/edited for the investor's portion of interest in the payoff transaction (if a loan is sold). See Payoff Interest codes for more information.

Late Charge

 

Mnemonic: IGLCM

Use this field to indicate the calculation method for the investor's portion of the late charges for the group being created/edited. The late charge calculation method on this screen must match the Late Charge field on the Loan Investor Fields screen.

 

Possible selections in this field are No Calculation to be Performed, Late Charge Collected x Portion Sold, and 1/2 Late Charge Collected x Portion Sold.

 

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

Prepayment Penalty

 

Mnemonic: IGPPC

Use this field to indicate a calculation method for the investor's portion of a loan prepayment penalty for the group being created/edited.

 

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

 

Possible selections in this field are as follows:

 

No Calculation to be Performed

2/3 of the Prepayment Penalty Amount Collected Multiplied by the Portion Sold

1/2 of the Prepayment Penalty Amount Collected Multiplied by the Portion Sold

100% of Prepayment Penalty

100% of the Prepayment Amount Collected Multiplied by the Portion Sold

Reserve

 

Mnemonic: IGRCM

Use this field to indicate a calculation method for the investor's portion of a reserve for the group being created/edited.

 

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

 

There are two options in this field. Either no calculation is performed, or the method can be defined as Amount of Reserve Paid this Month x Portion Sold.

Yield or Collections

 

Mnemonic: IGYOC, IGWTA, IGMBS

Use this field to indicate a basis on which funds are remitted to the investor for the group being created/edited. See below for more information.

 

Possible selections in this field as follows:

 

Collection

 

This method indicates that the investor is being paid on a collection basis and the funds received by the investor will always be based on the actual principal and interest collected with each payment. This method will remit funds on an ACTUAL / ACTUAL basis.

 

Yield

 

This method indicates that the investor is being paid on a yield basis and the remittance is calculated using the total of all loan principal balances in the group. Interest will be paid to the investor regardless of whether it was actually collected. Principal is remitted only if actually collected. This method will remit the funds on an ACTUAL / SCHEDULED basis.

 

Mortgage Backed Securities

 

This method pertains to those loans being reported under one of the mortgage-backed security systems (e.g., Ginnie Mae or Freddie Mac). Both interest and principal will be remitted regardless of whether any payments are collected. The interest using this method will be calculated using an investor guaranteed rate. This method will remit funds on a SCHEDULED / SCHEDULED basis. Also, if due dates are staggered, all due dates after the cutoff date will be deemed the first of the next month for investor reporting purposes.

 

Weighted Average

 

This method pertains to those loans being reported under one of the mortgage-backed security systems (e.g., Ginnie Mae or Freddie Mac). Both interest and principal will be remitted regardless of whether any payments are collected. The interest using this method will be calculated using the weighted average of the loan rates in the group. This method will remit funds on a SCHEDULED / SCHEDULED basis. Also, if due dates are staggered, all due dates after the cutoff date will be deemed the first of the next month for investor reporting purposes.

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