That's right - your eyes are not deceiving you.
Now built on our brand new Phoenix distributed task architecture, LMS.Ops is able to process your portfolio of loans 5x faster! Whether you're generating journals for incoming cash receipts, forecasting payments for your monthly remittance reconciliations across multiple servicers, or processing daily interest accruals, the performance gains are like night and day (not to mention the better look and feel).
In addition, check out these other features being built into Ops 2.0:
- Streamlined servicer reconciliation process
- Redesigned wizards that tell you what you need to know before performing a transaction (some examples listed below)
- HFI Accounting Support
- LOCOM and REO Accounting Support
Redesign: Preview your Scheduled Payment Transactions prior to submitting to the GL
Redesign: Have your Ops analyst close a monthly P&I forecast cycle and move it to a Manager to review all in one step
New Feature: Manage ARM Resets, forecast new rates and use them in your interest accruals and monthly P&I recon
- Ops will forecast new rates the moment the rate index is populated based on the lookback period
- Users can review rates and underlying terms used to generate the forecast and make updates as necessary
- Rate forecasting can be rerun on demand or automatically to account for updated info
- The new rates can automatically be marked 'Approved' on the reset date unless there are outstanding issues (i.e. if the calculated rate is below the rate margin)
- Servicing interest accrual will use the forecasted rate after the reset date
- The forecasted rate will be integrated into the P&I forecast at the appropriate month
Click on the image below to get a closer look!
New Feature: Held for Investment Accounting Support
- Accounting treatment Held for Investment (HFI) or Held for Sale (HFS) is maintained at the loan level
- At the time of purchase, user can designate which items are to be capitalized
- User can set number of months to amortize capitalized items over (default will be remaining life of the loan)
- As principal payments are received, the capitalized items are amortized
- When a loan is sold or paid in full, any unamortized amounts will be written-off
- When a loan becomes non performing, it will automatically be subject to lower of cost or market (LOCOM)
- Future product release will support level yield amortization
- Fully integrated with the P&I reconciliation feature within LMS.Ops
As always, we encourage our readers to provide us with feedback. If you have any questions or comments, or would like to see a demo of LMS.Ops, please reach out to your SSI Account Manager or email us at firstname.lastname@example.org.