With the Securitization screen, the system provides a powerful tool that enables financial institutions to create account pools, to track and manage portfolios.
The Securitization 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:
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
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. |
Product Type |
Displays the type of product associated with the Pool. |
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. |
The Pool Transactions sub screen enables you to view pool related transactions history, and well as enter a pool transaction.
To post Pool Transactions
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. REMOve ACCOUNT -- Remove an account from Securitization pool before the pool is marked as SOLD. This transaction is supported for pools which are in NEW / OPEN status and helps to remove account(s) without recreating the pool. 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). |
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
A brief description of the fields is given below:
Field: |
View this: |
Account # |
Displays the account number. |
Title |
Displays the account holder’s name. |
Sale Acc Status |
Displays the account status at the time of pool sale. |
Account Status |
Displays the account status. |
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. |
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 . |
The Product sub screen enables you to view summaries of various statistics of the products in the pool.
To view the Product details
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. |
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
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. |
The Rate sub screen enables you to view a summary of the pool by product and rates.
To view Rate details
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. |
The Delinquency sub screen enables you to view a summary of the pool in regards to delinquencies of products.
To view Delinquency details
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. |
The Term sub screen enables you to view a summary of the pool by product and by terms.
To view the Term
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. |
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.
In addition, Oracle Financial Services Lending and Leasing application facilitates to ‘add’ or ‘remove’ account(s) to a pre-defined pool in bulk through file upload process. For more information, refer to section ‘Bulk Update of Accounts to Securitization Pool’.
To create a pool
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. |
Product Type |
Select the type of product from the drop-down list. It is mandatory to select the product type and based on the selection, each pool created can have specific product type accounts associated to it. Note: Product type can be selected only during ADD (i.e. new Pool Creation) and is displayed in view mode during EDIT operations. |
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). Note: The Super Pool list is sorted based on the ‘Class’ selected. |
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. |
A brief description of the fields is given below:
Field: |
Do this: |
Query Name |
The query name is system generated which is the concatenation of Pool name with system generated random number. |
Query Description |
Specify the query description. |
Enabled |
Check this box to enable the query. |
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). |
After defining the Account Selection Criteria for the created Pool Query, you can validate the criteria which is further used to query the database to build the list of accounts.
The ‘SQL Statement’ that is generated based on the defined Account Selection Criteria is displayed. Also the ‘SQL Result’ of the query is indicated with either the status or issues (if any) to be rectified.
Note that, adding accounts to a Securitization Pool through the Account Selection Criteria is also controlled by the status of a system parameter ‘POOL_ACTIVE_ACCOUNTS_ONLY’.
You can create a Securitization Pool after creating the Pool Query and validating the Account Selection Criteria. However, ensure that the selected Pool Query is ‘Enabled’.
Further, when the Pool Query is updated with additional account selection criteria, you can click ‘Re-Create Pool’ to consider the new criteria for building the list of accounts for Securitization Pool.
To remove a Securitization Pool Query, select the required pool from the Pool Queries section and click ‘Remove Pool’.
In addition to manually adding / removing accounts from Securitization pool, you can perform bulk update of records using file upload process. In this process, all the accounts which are to be either attached or detached from respective pool can be collated into a single file as individual record and uploaded into the system through input file processing.
During bulk update, you can,
In-order to perform bulk upload, the upload file should be a csv (comma separated value) file and need to contain two main parameters namely Pool ID and Account ID separated by comma as one record. Multiple rows can be included in a single upload file to process the data in bulk.
For example,
POOL A,20190100010673,
SEC_POOL_1,20190100010673,
,20181200010027,
If there is no value provided for Pool ID, then system assumes it as NULL and respective account is removed from the Pool to which it is currently attached.
The below table indicates the possible combinations on how data in upload file is processed based on Pool ID and Account ID value in upload file:
Condition |
Pool ID |
Account ID |
Results |
If account is not attached to any Pool |
A |
ABC |
Account ‘ABC’ is attached to pool A |
If account is attached to Pool A |
NULL or no value |
ABC |
Account ‘ABC’ is detached from Pool A |
If account is attached to Pool A |
B |
ABC |
Account ‘ABC’ is detached from Pool A and attached to pool B |
If account is attached to Pool A |
A |
ABC |
Indicates error -Account ‘ABC’ is already mapped to Pool. |
During processing of upload file data, separate transactions either to ADD ACCOUNT or REMOVE ACCOUNT or both, are automatically posted on respective pool.
The processing of data in upload file is also controlled by the following lookup types:
Lookup Type |
Description |
POOL_ADD_ACC_CRITERIA |
CRITERIA TO ADD ACCOUNT TO POOL |
POOL_REMOVE_ACC_CRITERIA |
POOL CRITERIA FOR REMOVING ACCOUNT FROM POOL |
Each Lookup Type can have on or more lookup code which are basically the configured pool status and acts as the criteria to allow an account to either get attached or detached from a specific Securitization pool, Lookup can be defined in Setup > Administration > System > Lookups screen.
As per the above configuration, for Lookup Type POOL_ADD_ACC_CRITERIA an account is attached to only those Securitization pool which are in status OPEN, HELD, NEW, and SOLD. Any other status is not processed in the system and is indicated as error.
The upload file is to be placed in the location - /scratch/work_area/<domain name>/input/isc. During the scheduled execution of batch job - SET-IFP-ISCPRC_BJ_100_01 (SECURITIZATION POOL FILE UPLOAD) in SET-IFP (Input File Processing), the file is picked up for processing and data within is loaded into respective table. The status of batch job can be viewed in DashBoard > System Monitor > Batch Jobs screen.
After the batch processing, the records which are successfully processed during bulk update can be viewed in Servicing > Securitization > Pool Inquiry > Pool Accounts tab.
The records which resulted in error are listed in the bad file indicating the account number in specific row with inappropriate data that was not processed. For example, record 1,3,5 failed due to improper data.