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).
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.