|
|
|
|
OMNIBUS
FASB 91
• Fee amortization,
• Premium amortization and
• Discount accretion software for
MBS, LSBO and other purchased
and packaged
loans
FASB 91 mortgage, consumer, dealer
fee loans page
Bonds,
FASB 91 effective interest method
page
FASB 91 effective
interest method
recognition software for
• MBS
bonds, mortgage backed
securities
• ABM
asset backed mortgages
• Packaged loans
• LSBO
Participations and
Whole loans
Originated
Purchased
• CMOs collateralized mortgage obligations
• Syndicated loan pools
• Non-conforming loans
• Distressed, substandard
assets
• Unusual loans, heavily discounted sales and
more
FASB 91
compliance
software that
imports all
packages from an Excel file with:
• Package
numbers, seller name,
code,
other identifier
• Begin/settlement date/purchase date
• Maturity date
• Par, principal amount
• Coupon/earnings/package rate
• Price, premium, discount, other fee
adjustment to
par
Create the file
once.
Update
monthly
with
current
balances
or
reductions.
Recognize dozens, hundreds,
thousands of
income and expense
deferrals
• Monthly recognition and
reporting in a matter of
seconds
Start amortizing "when"
you want
• Start "as of" now
Preserve your
existing
premium,
discount, deferred fee
general
ledger balances
No adjusting
journal entries
OR
• Start "as of" a prior
month, prior
year
Recalculate
income, expense
and deferral
balances from a
prior period
forward
•
Calculate effective interest rates
• Amortize premiums, discounts, other deferred fee income and expense
under FASB 91
• Amortize
all records at the same time
• Provide detail amortization
schedules for auditor,
examiner queries
•
Generate file totals
Total fee
income
Total fee
expense
Net: Income
minus Expense
• Furnish general ledger posting and subsidiary account
balancing
• Set up your records once
• On a monthly basis, update with either
Current package balances
or
Reductions to
par/principal for the
month
• That's all there is to it
| Automatic adjustments for |
• Reductions and
remittances in fluctuating amounts
• Irregular, staggered
paydowns, reductions to
par, principal
• Early payoffs
• Sales, full or partial
• Rate changes
| A proven system for small and large files |
• Evaluate the
software with your
records at no charge
• Qualified assistance regarding unusual
requirements
• Software customization for unique needs
• FASB, GAAP compliance without spending a
fortune
| Complete monthly fee accounting and reporting |
• All
monthly financial and accounting reports
• Subsidiary ledger listing with subtotals by
general ledger account
P&L totals
Balance sheet
totals
• Debit and credit column journal voucher
• General ledger posting
file
• Cash flow projections and other managerial, audit
reporting
• View reports
• Send to local or
network printer
• Export schedules and reports to Excel
• Convert and
preserve
recognition,
accumulated and
book values in
order to
maintain general
ledger status.
• Or, the
software can
recalculate
records from
their begin
dates employing
the effective
interest method.
 |
Price page and free demo .... |
Click the
link to open and view price page
Download a free demo from the price page,
too.
Price page
|
Account
for
•
Loan packages - secondary market
Fixed rate
Variable rate
Amortize over
Actual life
Estimated, average life
• Bonds - corporate, government, other
premium and discount instruments
Variable rates, floating rates
Unusual terms or
conditions
Reductions to par due to partial sale, other reasons
Bonds without rate change or paydowns, too
• Syndicated loans, bulk loans, pools ....
•
Mortgage backed securities
MBS
CMOs
•
Purchased loans
•
LSBO
Participation and whole Loans Serviced By
Others
•
Participation loans sold
•
Discounted cash advances
•
Originated
loan groups
Grouped by month of
origination or other criteria
Weighted average
rates, terms, fees (as
discount or premium)
• Hybrid loans
Fee income and expense are treated as discounts and premiums
as an adjustments to
par, principal, face value such as merchant loans, other
advances
•
Other
assets or
liabilities with
Premium, discount, fee
income, expense, cost, charges ....
Periodic,
irregular
reduction in
value
Coupon rate, interest rate, earnings rate or
rate of zero
Variable rate
changes
Maturity date or a Term
in months
Par, principal
paydown
reductions,
curtailments
Payoffs
Partial sales
The software will
•
Calculate FASB
91 effective
interest rates
Calculate for
initial values
• Recalculate effective interest
rate due to a paydown reduction, rate or
other changes
•
Determine
monthly
recognition of
Income
Expense
•
Journal
voucher
preparation with offsets to balance sheet accounts
• Report
general ledger
balances for
Par/principal
balance
Premium
deferral balance
Discount
deferral balance
Carrying amount /book value
•
Accelerate
deferral recognition due
to
paydown/partial
sale
• Prepare
a complete set
of accounting
reports
View on screen
Send to
printer
Export schedules and reports to Excel
Upload
file with
general ledger
debits and
credits
Direct
post or allocate
to revenue and
cost centers
Supports
calendar and
fiscal year
periods
• Produce
a detailed
recognition
schedule for
each record
Normal
month to month
premium,
discount
amortization
recognition
Accelerated
discount,
premium
recognition for
principal
paydown,
curtailment,
partial sale,
payback
reductions
• GAAP, FASB compliant
Generate, export audit
and examination reports
Excel Template
The software comes with an Excel worksheet template.
- Maintain records in the worksheet
- Update with monthly or other frequency changes
- Make copies of the worksheet to maintain multiple, segregated files
At any time, automatically import the worksheet.
The software:
-
Determines
premium or
discount amount
-
Calculates
and recalculates FASB 91 effective
interest rates
-
Based on selected dropdown calendar month, provides:
• Monthly premium or discount
recognition for each record
- Normal recognition plus
- Accelerated recognition due to paydown reductions
- A detail schedule for each record provides exact breakdown and how calculated
• Accumulated
recognition
• Deferred premium
or discount
balance
• Book value
carrying balance
• Detail recognition schedule
Summary totals
of the above by
category:
• Premium totals
• Discount totals
• All accounting reports
• General ledger postings and upload file using any chart of accounts
- View reports. Print reports. Export to Excel.
More
about
accounting and
reporting ....
• Maintain
records in
- A
single worksheet
-
Multiple
worksheets to
segregate
records
- Also
applicable for
records where
par is not
subject to
reduction - mix
or segregate
Import dozens,
hundreds,
thousands of
records with:
• Cusip
or your assigned
IDentifier
• Par,
principal
balance
•
Purchase/settlement/begin
date
•
Maturity date
•
Coupon/interest/nominal
rate
• Price
(Par +premium or
-discount) =
initial carrying
balance
As $Dollar
amount or
%Percent
Premium,
discount can be
loan fee
expense, fee
income
Software
establishes
premium/discount
amount
•
Conversion
balances, if
desired
•
Supports
calendar and
fiscal year
•
Maintain records
in one Excel
worksheet or
segregated files
Premium, discount, fee income and
expense recognition
• FASB 91 effective interest rate calculation
• Premium, fee amortization to income or expense
• Discount, fee accretion to income or expense
• Accelerated premium, discount, fee recognition for par/principal reduction
Automatic effective interest rate recalculation when ....
• Coupon/note rate changes
• Reductions to par/principal due to
Remittance paydown
reductions - regular and unscheduled
Partial sale, assignment
Accelerated premium and discount recognition to recognize reductions
• Increases to par/principal
|
|
|
|
|
