5. Securitization

With the Securitization Setup screen, the system provides a powerful tool that enables financial institutions to create account pools, to track and manage portfolios.

The Securitization Setup screen enables you to:

Navigating to Securitization screen

On the Oracle Financial Services Lending and Leasing home screen, click Servicing > Servicing > Securitization.

Data in the Securitization screen is grouped into two tabs:

5.1 Pool Inquiry

The Pool Inquiry screen enables you to enter and view pool related transactions. It can also be used to view various summaries related to the pool.

Navigating to Pool Inquiry

  1. On the Oracle Financial Services Lending and Leasing home screen, click Servicing > Servicing > Securitization > Pool Inquiry. The details for each inquiry pool are maintained in the following seven categories:
  1. In the Pool section, you can view the following information:

A brief description of the fields is given below:

Field:

View this:

Pool

Displays the pool code.

Status

Displays the pool status.

Description

Displays the pool description.

Class

Displays the pool class from the drop-down list.

Company

Displays the pool portfolio company from the drop-down list.

End Dt

Displays the pool end date.

Owner

Displays the pool owner.

Super Pool

Displays the pool super pool code from the adjoining drop-down link.

Repurchase Dt

Displays the pool re-purchase date.

Reason

Displays the pool re-purchase reason.

Sale Dt

Displays the pool sale date.

Days Repo

Displays the number of days in repossession to liquidate.

Days Delq

Displays the number of days in delinquency to liquidate.

Max Limit

Displays the max limit of the pool.

Service Rate

Displays the servicing rate for the pool.

Certificate Rate

Displays the certificate rate for the pool This is the rate which will be payable to the investor who buys this pool and is entitled to its receivable stream.

  1. In the Pool section, you can click ‘Export to Excel’ button to export the details of the selected record to a .xls file with the following information:
    • Pool
    • Status
    • Description
    • Type
    • Company
    • End Dt
    • Owner

5.1.0.1 Pool Transactions

The Pool Transactions sub screen enables you to view pool related transactions history, and well as enter a pool transaction.

To post Pool Transactions

  1. In the Servicing > Servicing > Securitization > Inquiry > Pool section, select the record you want to work with.
  2. Click Pool Transactions.
  3. In the Transaction History section, click Add.

A brief description of the fields is given below:

Field:

Do this:

Transaction

Select the transaction from the following list:

ADD ACCOUNT -- Add an account to the pool externally.

CANCELLED -- Cancel the pool.

HELD FOR SALE -- Change the status of pool to “Held for sale.”

OPEN -- Change the status of pool to “Open.”

RELEASED -- Change the status of the pool to “Released” and clear all accounts related to the pool.

REPURCHASED -- Change the status of pool to “Repurchased.”

SOLD -- Change the status of pool to “Sold.” (required).

Reason

Enter the transaction reason (required).

Date

Enter the transaction effective date (required).

Account

Select the account to be added (optional).

  1. Click Post. The Details appear in the Transaction History summary table.
  2. Click Clear to clear the details.
  3. In the Transaction History section, click ‘Export to Excel’ button to export the details of the selected transaction to a .xls file with the following information:
    • Txn Dt
    • Post Dt
    • Description
    • Reason

5.1.0.2 Pool Accounts

The Pool Accounts sub screen enables you to view previous account related transactions, as well as enter a pool account transaction for the selected pool.

To post the Pool Accounts

  1. In the Servicing > Servicing > Securitization > Inquiry > Pool section, select the record you want to work with.
  2. Click the Pool Accounts. The details are grouped into two:
  1. In the Accounts section, you can view the following information:

A brief description of the fields is given below:

Field:

View this:

Account #

Displays the account number.

Title

Displays the account holder’s name.

Account Status

Displays the account status.

Sale Acc Status

Displays the account status at the time of pool sale.

Dt

Displays the pool sale date.

Sale Rate

Displays the account interest rate at the time of pool sale.

Balance

Displays the account balance at the time of pool sale.

Term Remaining

Displays the account remaining terms at the time of pool sale.

  1. In the Account Transactions section, click Add:

A brief description of the fields is given below:

Field:

Do this:

Txn date

Transaction date.

Post date

Transaction posted date.

Description

Details of the transaction.

Amount

Amount of the transaction.

Reason

Reason for the transaction .

  1. Click Post. The Details appear in the Account Transaction summary table.
  2. Click Clear to clear the details

5.1.0.3 Product

The Product sub screen enables you to view summaries of various statistics of the products in the pool.

To view the Product details

  1. In the Servicing > Servicing > Securitization > Inquiry > Pool section, select the record you want to work with.
  2. Click the Product.
  3. In the Product section, you can view the following information:

A brief description of the fields is given below:

Field:

View this:

Product

Displays the product.

Principal at Sale

Displays the principal at sale amount.

Principal Paid

Displays the principal paid amount.

Repurchase Balance

Displays the principal repurchase balance amount.

Loss Amount

Displays the loss amount.

Pay ahead Amount

Displays the pay ahead amount. For any paid off accounts in the product summary, this field contains the sum of the amount that was applied to principal during the payoff payment allocation.

Current Balance

Displays the current balance amount.

5.1.0.4 Status

The Status sub screen enables you to view summaries of various statistics of the status of the products in the pool.

To view the Status details

  1. In the Servicing > Servicing > Securitization > Inquiry > Pool section, select the record you want to work with.
  2. Click the Status.
  3. In the Product/Status section, you can view the following information:

A brief description of the fields is given below:

Field:

View this:

Product

Displays the product.

Status

Displays the securitization account status.

Principal at Sale

Displays the principal at sale amount.

Principal Paid

Displays the principal paid amount.

Repurchase Balance

Displays the principal repurchase balance amount.

Loss Amt

Displays the loss amount.

Payahead Amt

Displays the pay ahead amount.

Current Balance

Displays the current balance amount.

5.1.0.5 Rate

The Rate sub screen enables you to view a summary of the pool by product and rates.

To view Rate details

  1. In the Servicing > Servicing > Securitization > Inquiry > Pool section, select the record you want to work with.
  2. Click the Rate.
  3. In the Product/Rate section, you can view the following information:

A brief description of the fields is given below:

Field:

View this:

Product

Displays the product.

Rate

Displays the rate (should equal the interest rate on account).

Principal at sale

Displays the principal at sale amount.

Principal Paid

Displays the principal paid amount.

Repurchase Balance

Displays the principal repurchase balance amount.

Loss Amt

Displays the loss amount.

Pay ahead Amt

Displays the pay ahead amount.

Current Balance

Displays the current balance amount.

5.1.0.6 Delinquency

The Delinquency sub screen enables you to view a summary of the pool in regards to delinquencies of products.

To view Delinquency details

  1. In the Servicing > Servicing > Securitization > Inquiry > Pool section, select the record you want to work with.
  2. Click Delinquency.
  3. In the Product/Delinquency section, you can view the following information:

A brief description of the fields is given below:

Field:

View this:

Product

Displays the product.

Category

Displays the delinquency category.

Principal at Sale

Displays the principal at sale amount.

Principal Paid

Displays the principal paid amount.

Repurchase Balance

Displays the principal repurchase balance amount.

Loss Amt

Displays the loss amount.

Pay ahead Amt

Displays the pay ahead amount.

Current Balance

Displays the current balance amount.

5.1.0.7 Term

The Term sub screen enables you to view a summary of the pool by product and by terms.

To view the Term

  1. In the Servicing > Servicing > Securitization > Inquiry > Pool section, select the record you want to work with.
  2. Click Term.
  3. In the Product/Term section, you can view the following information:

A brief description of the fields is given below:

Field:

View this:

Product

Displays the product.

Term

Displays the term.

Principal at sale

Displays the principal at sale amount.

Principal Paid

Displays the principal paid amount.

Repurchase Balance

Displays the principal repurchase balance amount.

Loss Amount

Displays the loss amount.

Pay ahead Amount

Displays the pay ahead amount.

Current Balance

Displays the current balance amount.

5.1.1 Pool Creation

The Pool Creation screen enables you to create pools and perform “what if” analysis of pool appearance using different criteria. Based on the parameter values, the system will query the accounts database and builds the list of accounts. Once you choose the pool criterion, you can view the query generated by the system. Oracle Financial Services Lending and Leasing would further display errors in the query built so that you can revisit the parameter values.

To create a pool

  1. Click Servicing > Servicing > Securitization > Criteria. Criteria details are grouped into three:
  1. In the Pool section, you can define the pool (set of accounts) you want to securitize. Perform any of the Basic Operations mentioned in Navigation chapter.

A brief description of the fields is given below:

Field:

Do this:

Pool

Specify the pool code.

Status

Displays the pool status.

Description

Specify the pool description.

Class

Select the pool class from the drop-down list.

Company

Select the pool portfolio company from the drop-down list.

End Dt

Specify the pool end date. You can even select the date from adjoining Calendar icon

Owner

Specify the pool owner.

Super Pool

Select the code for super pool from the drop-down list (Multiple pools belong to a super pool).

Repurchase Dt

Displays the pool re-purchase date.

Reason

Displays the pool re-purchase reason.

Sale Dt

Displays the pool sale date.

Days Repo

Specify the number of days in repossession to liquidate.

Days Delq

Specify the number of days in delinquency to liquidate.

Max Limit Amt

Specify the max limit of the pool.

Service Rate

Specify the servicing rate for the pool. The servicing rate is an additional rate you can charge for security.

Certificate Rate

Specify the certificate rate for the pool. This is the rate which will be payable to the investor who buys this pool and is entitled to its receivable stream.

  1. Perform any of the Basic Actions mentioned in Navigation chapter.
  2. In the Pool Queries section, you can define possible queries for the pool. Perform any of the Basic Operations mentioned in Navigation chapter.

A brief description of the fields is given below:

Field:

Do this:

Query Name

Specify the query name.

Query Description

Specify the query description.

Enabled

Check this box to enable the query.

  1. Perform any of the Basic Actions mentioned in Navigation chapter.
  2. In the Account Selection Criteria section, you can define the account selection criteria for each of the queries. Perform any of the Basic Operations mentioned in Navigation chapter.

A brief description of the fields is given below:

Field:

Do this:

Seq

Specify the sequence number.

(

Specify the left bracket.

Attribute

Select the attribute from the drop-down list.

Comparison Operator

Select the comparison operator from the drop-down list.

Criteria Value

Specify the criteria value.

)

Specify the right bracket (optional).

Logical Expression

Specify the logical expression (optional).

  1. Perform any of the Basic Actions mentioned in Navigation chapter.