Automated Investor Loan Origination

This application enables Financial Institutions to prepare a group of loans for sale to multiple investors based upon defined percentage criteria for each investor through an automated process.
Rating:
100% of 100
0
In stock
SKU
SOFTAPP0270
Developed By: Fiserv
Version: 1.0.0.1 - Published March 2021

The Automated Investor Bulk Origination application provides an automated process (on-demand batch application) which prepares a group of loans for sale to multiple investors based upon defined percentage criteria for each investor. Financial institution will be responsible for creating the appropriate investor organizations, custodial accounts, investor loan programs, organization investor loan programs and groups. Finally, the financial institution creates a file that contains the loan account numbers to prepare for sale along with each account's respective group(s) and, optionally, the investor's external account number. 

 

The application assigns each of the loans to the group(s) specified and establish the relationship between the account and each group in a 'pending status'. The financial institution then, using standard Investor Loan processing in DNA®, reviews the originated items and manually move the accounts through the appropriate 'Approved' – 'Sold' statuses.  

 

A report is generated to provide summary and detailed balancing per group and in total as well as a listing of exceptions for loans which failed to be added to the group. (i.e., invalid account, invalid account status, product does not support investor sale – the standard exceptions that a user would encounter if manually selling a loan through the Core application).   

 

 

Benefits

This application enables Financial Institutions to prepare a group of loans for sale to multiple investors based upon defined percentage criteria for each investor through an automated process.

DNAapp Type: Batch Application

Developed with DNAcreator™

Technical Name: PS_IL_BULK_ORIG

DNAX File Name: PS_IL_BULK_ORIG.dnax

No additional requirements. 

Reviews

  1. Huge Time Saver
    We have been using this job for a year now and absolutely love it. It has been a huge time saver for us in selling loans. We did a large loan sale of 2,600 loans last year and it only took one person a couple hours to process the entire sale in DNA (it only took that long because we had payment reversals that needed to occur before selling the loans, otherwise it would have been even shorter). Since then, we have completed many other bulk loan sales of more than 200 loans each time and the process is very seamless. We receive our Freddie Mac settlement files in Excel format so it is very easy to generate the required file. After uploaded the file via a secure FTP, the results are available in DNA within a couple minutes and you can then start comparing balances to make sure everything matches before utilizing the "Approve All" and "Sell All" buttons. Would highly recommend using this job if you sell bulk loans and/or have a higher volume of investor loan sales each month.

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