What is the Pool Disbursement Software Package?

Pool Disbursement is designed to properly account for the funds collected on each loan assigned to a loan pool in Loan Servicing. The data is passed to the Pool Disbursement package for proper accounting and payment to the certificate holders of the pool.

The Pool Disbursement package is separate from the Loan Servicing package. However, a company must own the Loan Servicing package to use the Pool Disbursement package. The payments received in Loan Servicing are automatically transferred to the Investors, who are the pool certificate holders. In this package, data for Certificate Holders is stored, including tax identification information and a history of all funds disbursed.

Certificate Holders

Set up a record for each certificate holder. Establish investor information and determine the percentage of participation for each investor disbursement.

Pools

Compute principal and interest per investor after payments have been entered. Fractional cents are applied to each investor on a rotational basis, thereby equalizing the disbursement down to a fraction of a cent.

Check Writing

Produce a check to the Certificate Holders for principal and interest and pass the information to the Cashbook Reconciliation package.

Reports

On-line inquiry and printed reports on overall pool status, plus the status of individual investors, and prepares year-end reports for IRS Form 1099.

Data From Loan Servicing to Pool Disbursement

Loan Servicing and Pool Disbursement are designed to function together. Payments are collected in Loan Servicing. After each monthly cutoff, the information is moved into the Pool Disbursement and automatically assigned to the proper pools.

The Pool Disbursement package offers an index by four options:

• POOL NUMBER

The pools listed in numeric order.

• CERTIFICATE NUMBERS

Index by a certificate number. It makes no difference which pool the loan is attached to; the index is by number.

• CERTIFICATE HOLDERS

Index by a certificate holder's last name. When ALPHA is found in more than one pool, the number will show.

• POOL/CERTIFICATE

A listing of all pools with certificate numbers.

The Certificate Holder Status option displays the certificate holder data for rapid answers to questions.

Upon entering this selection, the program requests a pool number and a certificate number. Enter the pool and certificate numbers.

The information displayed on the screen can be printed. The data may not be modified from this selection. This selection is only viewing only.

The program can display old certificates that have been transferred to a new certificate holder.

03. Certificate YTD History

This section displays the history data for a specific certificate holder. The data is displayed and cannot be modified.

This information is stored for the life of the certificate. It is never deleted.

04. Pool Certificate Holders

This screen displays a listing of all active certificate holders in a given pool. The list displays all certificates transferred to a new holder when <T>SHOW TRANSFERRED CERTS is selected.

Displayed is the dollar amount or share of the certificate bought by the holder and the percentage of ownership, based upon the principal share amount.

05. New Certificate Setup

Each field is detailed in the Pool Disbursement manual.

Field lengths and special notes are explained in the Pool Disbursement manual.

This selection serves two purposes.

• The first function is to modify any data on the certificate holder.
• The second function is to transfer a certificate to a new holder or holders.

This option is selected to set up a new pool or modify an existing one. If the pool was previously set up, the data will be displayed on the screen.

This selection displays, in numeric sequence, all pools issued. If the ownership is not 100%, the percentage of owned is displayed. Nothing is indicated when a pool is 100% owned, but the percentage of ownership of the certificate is indicated in the last column.

This screen is especially useful for checking if the certificate holder transfers have been completed, with the correct ownership assigned.

This selection computes the distribution of funds to the certificate holders. On serial pools, it flags those pools that have a sufficient balance available to make a serial remittance.

This selection prints a report showing how the funds, balances, etc., will be disbursed. A review can be made for accuracy before writing the check. The Disbursement Audit will print automatically when 09. CERTIFICATE COMPUTE is processed. However, the operator can request this audit to print again from this selection.

This selection prints the checks to each certificate holder, after which the program prints a Check Register and a Disbursement Summary. The data is then transferred to the Pool Master Record and the History Master Record. Checks are consolidated by the tax ID number of the certificate holder.

This report prints the Check Register which is sorted by CHECK NUMBER. The report includes the DATE, CHECK AMOUNT, whether this check has CLEARED the Cashbook Reconciliation program, and the PAYEE name, street address, city, state, and ZIP Code. The last column is a DESCRIPTION of the check written.

This menu is access to many reports available in the Pool Disbursement package. The reports are essential for tracking pool disbursement activity.

This menu lists the options available for reporting Ginnie Mae pools.

This menu lists the reporting options for Fannie Mae pools.

• 2010 CONTINUOUS FORM

Prints the Pool activity detail for the month, in the format required by Fannie Mae.

• MONTH SUMMARY RPT (2030)

Prints the Pool activity summary for the month.

• LIQUIDATION SCHEDULE

Lists the loans removed from the pool, along with the date each loan was removed, the P&I constant, and interest rate.

• TEST POOL BAL TO SEC BAL

The purpose of the Pool-to-Security Reconciliation is to verify the accuracy of each pool's security balance.

• TEST EXPECTED P&I (IR)

This is an auditing report that tests the expected P&I against the P&I actually remitted, using the Internal Reserve method.

• TEST EXPECTED P&I (CD)

Another auditing report, which tests the expected P&I against what was actually remitted, using the Concurrent Dates method.

• EXPECTED P&I (CD SERIAL)

An auditing report for serial pools to test the expected P&I using the Concurrent Dates method.

• CUSTODIAL P&I CASH BOOK

This report is used to determine the funds that should be in each Custodial Account. This is important to effectively control the activity in your Custodial Accounts.

• EDIT REPORT

Report that will compare funds collected on the cutoff with remaining balance and loan count to pool data.

This option allows the operator to print a report of the daily custodial balance. The program will take the daily balance portion of Field 44, re-compute the balance, and replace Field 44 with the current information.

In the Advance and Recovery Report, the prepayments are not considered as recovery, only the delinquent payments or current payments. The report will give a summary by bank code and account number.

The Excess Funds Report is used to assist in the accounting of the funds when printing the pool checks. At the time of printing, the program will check the amount of prepayments, liquidations, and curtailments from the first of the month until the remittance date.

Before using the Pool Disbursement package, options listed in this menu must be set up.

The setup of the Maintenance segment in the Pool Disbursement package is flexible for the printing of checks and statements. The checks and statements can be printed separately or together.