We will be enhancing the CU*BASE Write Off Loans tool used to track charged-off loans and to capture and retain more information about both written-off and charged-off loans for use in the calculations. This will not only allow for additional 5300 automation routines, but will also allow us to change the weighted average yield reports
Author Archives: David Damstra
DealerTrack and CU*Answers Team up to put you on the right track
October 5, 2010 – 8:28 am
Lender*VP and DealerTrack invite all clients to attend a seminar geared to your lending channel and the dealers you could be working with. Find out how to change the playing field, expand your indirect business while saving you money and even your time. When Friday, October 8th 1:00 pm to 3:00 pm Where Via Web
Lender*VP Priorities for 2011.
September 16, 2010 – 2:49 pm
Here are the BIG Lender*VP projects from the 2011 development year. Great news is that most of the projects are either in production, slated for a future release or in development. A few are evolving projects and will move on to be priorities for 2012. Please take a minute to review a summary and current status
1. Credit Report Analytics and tools for easier viewing of credit report data
September 16, 2010 – 2:04 pm
We are working with ZOOT Enterprises, our partner for online credit reports, to add more information to the detailed “human-readable” credit report using plain, friendly language that is easier to read (fewer cryptic codes). Using some powerful tools in the CU*BASE GOLD graphical interface, we will make it easier to scroll around the report and
2. New workflow for Participation Loan processing
September 16, 2010 – 2:03 pm
For the past year the Lender*VP, Xtend SRS, and programming teams have been working on a complete revamp of the tools for processing Participation Loans with CU*BASE, adding new features specifically designed for 360 mortgages through the secondary market (Fannie Mae, Freddie Mac, FHLB). Monthly settlement will be more precise, more specific to the investor,
3. Expanding the number of Loan Categories you can define
September 16, 2010 – 2:01 pm
Today CU*BASE lets you configure up to 99 different Loan Categories to control servicing parameters for loan accounts. We have a couple of clients nearing that threshold, so we will be expanding the Loan Category code to allow two alphanumeric characters, so you can create codes like A3 or BB. This effectively expands the number
4. Grouping loans by Business Type for analysis and daily efficiencies
September 16, 2010 – 1:58 pm
There are actually two main parts to this project. First, we will be adding a configurable Business Type code you can assign at the loan category level, to help group loans by a business focus for easier analysis and day-to-day work assignments. In conjunction with that change, we will also be making a number of
5. Expanding data retained on DealerTrack applications
September 16, 2010 – 1:57 pm
We will be working with DealerTrack to identify more data elements we could potentially receive, such as rent, additional employment details, off terms, notification for counter offers, etc., and storing whatever we can as part of the application data in CU*BASE instead of as free-form text in the collateral record. We will also be exploring
6. Locking down Underwriting Comments for better control of underwriter decisions
September 16, 2010 – 1:56 pm
Will be exploring changes in the way Underwriting Comments are stored so that as notes are added, the system automatically records a date/time and employee ID, and locks the comment so it cannot be altered later on. Although not nearly as sophisticated as the Tracker system, the new file structure should at least allow us
7. New Net Yield analysis tools
September 16, 2010 – 1:55 pm
We will be looking at what new data elements will be needed to change the weighted average yield reports to include a Net Yield option that would take into consideration losses within a certain loan category. The math would be based on our current weighted average yield calculation but then take into consideration the total
8. Explore Custom Model options for 247 Lender
September 16, 2010 – 1:52 pm
We are considering offering optional add-ons to the current 247 Lender decision model, such as an automatic fail if the member’s unsecured ratio was greater than xx%, etc. What additional filters would you add? Would you pay more $ per pull for these features? View status and software samples presented to the Top 10 Lender
9. Automated Skip-a-Pay tools for consumer loans
September 16, 2010 – 1:51 pm
Our first step is to thoroughly document the process of how skip-pay programs can be done manually today. Then we’ll examine how the process could be automated, including: Configurable eligibility rules, including program date range, loan category restrictions, number of payments a member can skip on an annual basis, etc. Member opt in functionality in
