LMS360 – Master Servicing
Delta 360 provides a complete Master Servicing software solution for aggregators / MBS issuers that provides functionality for cash management, reporting and auditing of information provided by mortgage servicers, and other third parties. The Master Servicing system takes automated feeds from various mortgage servicers, audits the data received and generate exceptions. The Master Servicing system also audits the CMHC 2840 information submitted to ComputerShare by each of the servicers. The solution provides support for CHT programs including, the tracking of replacement assets, such as, MBS, T-Bills, MBS Repo, GOC Repo, and CMB (Seller Swaps). The Master Servicing system also calculates cash flows (including future cash flows), and generates accounting information.
Support for Various Models
The Master Servicing system is pre-configured for NHA MBS / CMB pool types. The system can record your CHT positions and the tracking of replacement assets including MBS, T-Bills, MBS Repo, GOC Repo and CMB (Seller Swaps). The system facilitates the sharing of information with CHT including, Schedule “A” to Offer to Sale, Transfer Advice and Investment Input form. The solution can also be used for the tracking of non-NHA pools including, Whole Loan Sales, etc., as well as, the ability to track and report on company owned portfolio (non-pooled warehouse).
Extensive Tracking of Loan Details and Account Changes
The software solution provides a daily portfolio import of Loan, Borrower, Investor and Security details via automated feed from each servicer. The daily posting of all financial transactions, such as, payments, prepayments, fees, and sales is also posted via the automated feed from the servicers. The system tracks account changes including, payment frequency and payment amount, and generates exceptions as required (IE. rate changes on fixed mortgages, capitalization of principal, etc.). There is an online view that provides aggregators with access to complete account details and transaction history. An online audit trail of all account changes is also accessible providing aggregators with complete transparency to the underlying loan data.
The system allows for the daily reconciliation of servicer cash receipts to account transactions. The system calculates, and reconciles, remittance details, including penalties and servicing fees, to the information reported by each servicer. The CMHC 2840 details reported by the servicer / computershare are reconciled on a monthly basis. The software also generates online exceptions to be reviewed and approved by staff including:
- Servicing fees
- Interest Amounts
- P& I Adjustment / Write-offs
- Maturity Date Changes
Accounting / GL
The system tracks current, and future, cash flows on a mortgage, pool and security level. The generation of accounting entries based on cash receipts are sent to the financial institution’s general ledger through an automated system interface.
The Master Servicing solution generates a comprehensive set of financial reports including, trial balance and exception reports. You can design and execute custom reports on demand from any data attribute in the database. Our web based report viewer allows authorized users to access reports by category.