Loan Manager – Loan Archive

General


Accurate tracking of historical loan data is essential to successful loan servicing. To make this process as easy as possible, AutoPal offers a daily accounting of each loan account and it’s values as of that date. These values are recorded during company processing time, and are listed in the “Loan Archive” tab. It should be understood that the values are only recorded a single time, and do not update when payments are backlogged, or alterations are placed on the account. If you are looking for a company wide view of the archive, please access the Admin Stats reports.

How To

To access the loan archive, open the loan in question and select the “Loan Archive” from the left-hand column. Once selected, you will be greeted with the following screen: Loan Manager - Loan Archive

The “Loan Archive” tab is broken into four primary areas, the “Days Past Due Chart”, the “Loan Archive”, “Reverse Calculator”, and the “Accrued Interest”.

Days Past Due Chart

The “Days Past Due Chart” offers a breakdown of delinquency by payment period for a particular loan.

Loan Manager - Loan Archive - Days Past Due Chart

The information displayed gives a servicing user the ability to quickly review previous delinquent periods on a particular account. This includes an exact breakdown of the amounts past due during the period, on top of the days past due. Please note the TPD column represents the “Total Past Due”, and the DPD column represents the “Days Past Due”.

Loan Archive

The “Loan Archive” is a collection of system recorded values for each day a specific loan has been inside of AutoPal Software. This offers a historical view of the loan account and values, making internal audits simple. Please note that the archive only pulls information for the loan account currently accessed. If you would like to see a company-wide view of archival values, please access the “Charting Report” located under the Reports > Admin Stats > Charting tabs.

Loan Manager - Loan Archive - Loan Archive

The “Loan Archive” includes the following information:

  • Date: Represents the date of the account “snapshot”
  • Stoplight: Represents the stoplight status as of the snapshot date
  • Principal: The principal balance of the loan as of the snapshot date
  • Aging: The number of days since origination of the loan
  • PD: The past due balance of the loan as of the snapshot date
  • PD 30+: The amount past due that is older than 30 days
  • DPD: The number of days past due as of the snapshot date
  • Status: The loan status as of the snapshot date
  • Credit: The credit status assigned to the loan as of the snapshot date
  • Payoff: The payoff balance of the loan as of the snapshot date
  • Perdiem: The loan per-diem as of the snapshot date
  • Chargeoff: The total balance of charge-off payments as of the snapshot date
  • Last Current: The last date the loan was current
  • Activity: Represents whether or not there was activity on the account on the snapshot date. Activity in this circumstance means a user induced change, such as a payment being posted.

Reverse Calculator

The “Reverse Calculator” is very similar to the “Loan Archive” but differs in a few key ways. Where the Loan Archive provides a daily snapshot of account values exactly as they were saved on the day, the “Reverse Calculator” reverse engineers values based on payments and charge history. Meaning the reverse calculator will account for backdated payments, and charges. The downside to this is increased generation time depending on the date range specified.

Loan Manager - Loan Archive - Reverse Calculator

To utilize the reverse calculator search, simply enter the date range you wish to back calculate, and select Search. Once selected, your list will generate below. If you wish to generate a copy of the reverse calculated information, simply select the Excel icon towards the upper right of the reverse calculator.

The “Reverse Calculator” provides the following information:

  • Date: Represents the date of the account values presented
  • Principal: The principal balance of the loan as of the given date
  • Payoff: The payoff balance of the loan as of the given date
  • Payoff Fees: The total amount of fees of the “Payoff Only” type
  • Discount: The amount of remaining discount as of the given date
  • Escrow: The amount of escrow due, as of the given date
  • Hold: The amount of hold due as of the given date
  • Fees: The amount of fees due as of the given date
  • Interest: The amount of interest due as of the given date

Accrued Interest

The “Accrued Interest” section allows you to easily calculate the amount of interest generated between two dates in the lifetime of a loan.

Loan Manager - Loan Archive - Accrued Interest

 

Simply enter the date range you wish to pull accrued interest for, and select the Search button. Your results will display below with the following columns:

  • Date: The date interest was accrued on
  • Principal: The principal balance as of the accrual date
  • Accrued Interest: The amount of interest accrued on a specific date

If you would like to generate an Excel file containing all of the information over a specific date range, simply select the Excel icon located towards the upper right of the Accrued Interest section.

 

Related Articles

Leave A Comment?