Business Features

Primatics Loan Accounting System provides a full suite of integrated accounting process and functions to satisfy the need of today's financial institutions to grow and improve their business. Compared to many existing products that focus on providing a specific solutions or a loan product type, Primatics Loan Accounting System allows user to centralize the accounting process into one integrated application, and thus provides greatly improved process control, efficiency and ease of research and analysis.

 

Loan Products Coverage

Primatics Loan Accounting System provides a rich set of cost and fair value accounting functions for the major loan product types that are adopted by financial institutions.

  • Commercial Loan - Revolving and non-revolving facility, and term loan
  • Syndication Loan
  • Residential and Commercial Mortgage Loans
  • Consumer Loans

Business Coverage

Primatics Loan Accounting System is designed to support a wide range of business needs of financial institutions that participate in the various stages of loan life cycle. The accounting features are designed based on our market knowledge and experience with various clients, to meet the needs from commercial bank, regional bank, large money center bank, REIT and secondary mortgage institutions.

  • Origination
  • Purchase
  • Syndication/Participation
  • Loans Serviced By Others
  • Sales
  • Secured Borrowing
  • Securitization
  • Held for Sale/Investment
  • Portfolio Transfer

·                 Mortgage Service Right

Real Time Cost Basis and Loan History

In contrast to many existing accounting applications that mainly function as a back end batch process, Primatics Loan Accounting System gives a real-time web based view to users: which includes the entire history of loan contract data (origination, modifications, renewal etc.), transactions (purchase and sales, pay down, non-accrual, loan split/combination, portfolio transfer etc.) and accounting entries (amortization, LOCOM etc.). All the information is available at individual loan lot level. This un-paralleled visibility equips the user with great ease and capacity to research and analyze financial information.

 

Key Features

  • Full suite of accounting functions based on GAAP requirements:
    • SFAS No. 65 (Intent Designation, LOCOM, OTTI Impairment)
    • SFAS No. 91 Amortization for Deferred Loan Fee/Cost and Purchase Premium Discount
    • SFAS No. 140 Sales
    • SFAS No. 5 and No. 114: Loan Impairment and Trouble Debt Restructuring
    • SFAS No. 122, No. 125 and 140: MSR
    • SOP 03-3: Purchased Loan with Credit Deterioration
  • Integration with existing or user configurable 3rd party pricing services to provide pricing and fair value services.
  • Full Capacity to support the most complex loans payment structures – option ARM, multiple payment frequency (bi-weekly, monthly, quarterly) and types (IO, PO, P&I, P+I, P%), for interest accrual and amortization yield calculation.
  • Manual entry GUI which allows to book on-top entries at loan lot level to system thus eliminating reconciliation issues.
  • Robust reporting capacity: automatically generated process reports that show the process results and exception due to missing or invalid data input.
  • Expandable to include additional analytic tools to do “what-if” analysis.

 

 

 

 

 
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