Loan Custodial Module The Loan Custodial Module automates required accounting and reporting for notes sold to investors. This module controls the process – from the integration of borrower payments, allocation and reconciliation of funds to investors and tracking of remittances from custodial accounts to the production of reports. Features satisfy accounting and reporting requirements for investors such as the following:
The Loan Custodial Module integrates with the Premier bank platform from Fiserv and with the Financial Management System. After the daily loan update, the module extracts transaction activity from sold notes and creates integration entries by investor to transfer funds to appropriate custodial accounts in the Demand Deposit Accounting application. These transactions are memoposted to immediately update custodial account memo balances. The Loan Custodial Module generates reports that summarize funds transfers by investor. Outgoing remittances and loan payoffs are all conveniently handled online. Remittance activity is entered for automatic posting and for reconciliation of custodial accounts. Payoff transactions can be reviewed to automatically create participation payoffs when base notes are paid off. Investor reports are automatically printed each period, at the time designated for investor reporting. The reports include a recap of all transactions for the period and reconciling reports for custodial accounts. Features
For more on Loan Custodial Module, contact Fiserv, Inc. |
