General
Name | The Name field is the placeholder for the naming of the loan. |
Balance | The Balance field allows users to input the balance on the loan. |
Use Asset Cash Flow | The Use Asset Cash Flow field allows users to toggle to ‘Yes’. When this field is toggled to ‘Yes’, this allows cash flows from a project to pay down the principal of the loan. |
Scenario Group | The Scenario Group field allows users to link the loan to a specific scenario group. Grouping a pool of loans or assets into scenario groups allows users to stress each asset cohort, with particular features, separately. |
Cash Flow Group | The Cash Flow Group field allows users to link the loan to a specific cash flow group. Cash Flow Groups are used to segment the cash flows from various collateral streams, into user defined collection accounts. These edits are provided to those users with deal with structuring and modeling access.
For further details see Cash Flow Groups page. |
Re-investment Loan | The Re-investment Loan field allows users to toggle between yes and no, to define whether the loan is a revolving loan or not. For further details see Revolvers page. |
Funding Account | The Funding Account field allows users to define the collection account that will hold the funds that will be used to originate new loans. Users can define Revolving accounts as part of the collection accounts page. |
Given Rate Type | The Given Rate Type field allows users to define the type of rate to define on the loan. Given Rate Type options: Gross Rate or Net Rate. |
Gross Rate% | The Gross Rate% field allows users to define the gross rate percentage, with the option to use a vector. The Gross Rate is the total rate of return on the loan before the deduction of any fees, expenses etc. The Fees field and the Net rate field will sum to the Gross Rate field. |
Net Rate% | The Net Rate% field allows users to define the net rate percentage, with the option to use a vector. The Net Rate is the total rate of return on the loan after the deduction of any fees, expenses etc. |
Fee Unit | The Fee Unit field allows users to define the unit in which the loans fees will be calculated. The user has the option to select the fee unit. Fee Unit options: % , $ amount , % Allocated, or $ Performing. |
Fee | The Fee field allows users to define the fee amount, with the option to use a vector. The fee is a percentage of the performing balance, which can be a fee type of an origination fee or service fee. |
Fee Escalator | The Fee Escalator allows users to set the fee amount to increase by a specific percent per year. The escalator can be a vector. |
Fee Escalator Start (Months) | The Fee Escalator Start (Months) field allows users to define which month the escalator will start for fees. |
Amort Term | The Amortization Term field allows the user to define the number of periods (in months) for which the loan will amortize. The amortization term will also be reflected within the Months to Maturity field. |
Balloon Term | The Balloon Term field allows users the option to define a period in which the loan will end with a balloon payment. In the case that a balloon payment takes place, the Months to Maturity field will be overruled. |
Months to Maturity | The Months to Maturity field reflects the amount of periods (in months) until the loan matures. |
Interest Day Count | The Interest Day Count field allows users to select the method in which the interest will be calculated. The user has the option to select the Interest Day Count based on: 30/360, ACT/260, ACT/365, DAYS360, or ACT/ACT. |
Re-Investment Start Month | The Re-Investment Start Month field reflects the defined period in which the origination of new loans begins. |
Re-Investment End Month | The Re-Investment End Month field reflects the defined period in which the origination of new loans stops. |
Funding Month | The Funding Month field reflects the aligning of revolving loans to bond timelines. This is the same principle of a pre-funded month. |
IO Term | The IO field allows users to define a period on the loan in which only the interest is paid on the loan, without receiving principal. |
Interest Frequency | The Interest Frequency field allows users to define the frequency in which the interest will be paid throughout the life of the loan. The user has the option to select: Monthly, Quarterly, Semi-Annually, Annually, or Variability. |
Principal Frequency | The Principal Frequency field allows users to define the frequency in which the principal will be paid throughout the life of the loan. The user has the option to select: Monthly, Quarterly, Semi-Annually, Annually, or Variability. |
Principal Payment Method | The Principal Payment method field allows users to define the method in which the principal payments on the loan will be made. The user has the option to select: Level Pay, Scheduled Payments, Scheduled Principal, Sculpted, Allocated Level Pay, Reamortized Scheduled Payments, or Re-allocated Scheduled Payments. For Further Details see Principal Payment Methods Page. |
Scheduled Principal | The Scheduled Principal field is only applicable to users who selected Scheduled Principal as the Principal Payment Method. The Scheduled Principal field allows users to define the scheduled principal payments, with the option of a vector. |
Scheduled Payments | The Scheduled Payments field is only applicable to users who selected Scheduled Payments as the Principal Payment Method. The Scheduled Payments field allows users to define the scheduled payments, with the option of a vector. |
Months to Reamort | The Months to Reamort field is only applicable to users who selected Reamortized Scheduled Payments, or Re-allocated Scheduled Payments. The Months to Reamort field defines the amount of periods (in months) until the loan reamortize. |
Seasoning (Months) | The Seasoning field is only applicable to users who selected Reamortized Scheduled Payments, or Re-allocated Scheduled Payments. The Seasoning field reflects the amount of periods (in months) which seasoning will take place. |
YSOC Mode | The YSOC Mode field allows users to define the Yield Supplement Overcollateralization mode. The user has the option to select YSOC, or YSOC Level Pay. For Further Details see YSOC page. |
Specified Discount Rate | The Specified Discount Rate field allows users to define the rate which will be used to discount future cash flows in order to calculate the YSOC, with the option of a vector. |
Default Frequency | The Default Frequency field allows users to change/define the frequency of default. The default frequency mode is set to Principal Frequency, though the user has the option to select Monthly, Quarterly, Semi-Annually, or Annually. Important to Note: Beginning the 1st Default Pay Month and going forward the CDR assumption affects the loan by the specified default frequency. |
Pre-Funded Month | The Pre-Funded Month field defines the month on which an asset is pledged into a trust after which it will start amortizing. This is the pledge assets that are not currently present or available, represented by having the loan start X months after the cutoff date, assuming this money will exist in the future, it is assumed that it exists now, and the start of the ending balance is pushed. |
1st Default Pay. Month | The 1st Default Pay. Month field defines the first month within the life of a loan, that the CDR begins to apply. For example, if the 1st Default Pay. Month is defined as 6, and the scenario on loan cash flow with CDR assumption is applied. The CDR assumption of reducing the amount of balance will start to occur starting on the 6th month. |
Prepayment Tab
Prepayment Frequency | The Prepayment Frequency field allows users to define the frequency in which the prepayment on the loan will be made. The prepayment frequency mode is set to Principal Frequency, though the user has the option to select Monthly, Quarterly, Semi-Annually, or Annually. |
1st Prepayment Month | The 1st Prepayment Month field allows users to define a starting month of projected prepayments, pushed from the cutoff date. |
Prepayment Interest | The Prepayment Interest field allows users to toggle interest payments on prepayments to On or Off. This toggle allows the determination of whether a loan is prepaid or not. |
Prepayment Interest Frequency | The Prepayment Interest Frequency allows users to determine the frequency in which the interest on the prepayment will occur. The user has the option to define as Interest Frequency or Principal Frequency |
Prepayment Penalty Rate | The Prepayment Penalty Rate field allows users to define the rate that is needed to be paid in the case of a prepayment on a loan, with the option of a vector. |
Previous Prepay | The Previous Prepay field allows users to define all prepayments ($) that were recognized prior to the Cut-off Date, which will then flow into the trust with first payments. This will not be affected by scenarios, and will be seen on the first month of the loan timeline. |
Additional Terms Tab
Interest Accrual Based On | The Interest Accrual Based On field allows users to define the methodology by which the interest is calculated on. The user has the options of either: Beginning Balance or Monthly Accrual. |
Tax Credit Balance | The Tax Credit Balance field allows users to define the portion of the loan in $ amount which is subject to Tax Credit Interest Capitalization at the end of the Tax Credit Interest Capitalization Term. The other portion of the loan amortizes normally. For further details see Tax Credit page. |
Interest Capitalized Term | The Interest Capitalized Term field allows users to define the term (in months) over which interest will accrue. Once payments have resumed the balance will have grown as the accrued interest will be injected into the loan balance on a monthly basis to account for deferred payments. |
Tax Credit Capitalized Term | The Tax Credit Capitalized Term field allows users to define the term (in months) over which the interest will accrue on the Tax Credit Balance portion and by the end of which the Cumulative Capital Interest will be injected into the Tax Credit Balance. |
Deferred Interest | The user can input an amount for deferred interest in this field. This allows for a payment type where unpaid interest will be paid by future interest. When this field is defined, the column "Unpaid Interest" will be calculated in a cashflow report. |
1st Int. Pay Dates | The 1st Int. Pay Dates is a contractual field. This field allows users to define when the interest payments begin being made, these payments do not go into the balance, it is structured (unlike deferral). |
1st Prin. Pay Dates | The 1st Prin. Pay Dates is a contractual field. The field allows users to define when the principal payments begin being made, these payments do not go into the balance, it is structured (unlike deferral). |
Initial Payment Basis | The Initial Payment Balance defines the balance used to calculate the interest/principal due for a seasoned loan added to the pool after the first payment is made in a calculation year. This is the balance which is used for allocated scheduled pay’s first payment, the remaining payments will be calculated based on the ongoing balance. |
Allocated Payment Calc. Month | The Allocated Payment Calc. Month field defines the month in which the payments are calculated, the payments are then calculated annually on that same month each year. |
Average Notional Balance | The Average Notional Balance field can be toggled to Yes. If set to Yes, the interest rate will be calculated on the average of beginning balance and ending balance of the period. |
Pre Bond Rollup Interest | The Pre Bond Rollup Interest field allows users to define recognized all interest amounts in ($), accrued from the various dated dates up to the cut-off date with first payments. Subsequently, all loans dynamically accrue interest based on a common timeline. (Functions similarly to previous pre-pay). |
1st Period Accrual Methods | The 1st Period Accrual Methods field allows users to define the number of months to be used for interest accrual on the first payment date. The user has the option to select, Full, Short, or Custom.
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Accrual Months | The Accrual Months field allows users to define the month on which the accrual takes place. |
Adjustable Rate Tab
Adjustable Rate is used as an index, (like LIBOR, TBILL, swaps, fed fund rate) which is an interest, and usually low. It has some margin as well. Margin + Index = all in rate. The rate that is used to accrue interest rate. The margin doesn’t change. The index floats. The cap is max and the floor is min.
Fixed Rate | The Fixed Rate field allows users to determine whether or not the loan has a fixed rate, the user can toggle Yes or No. A Fixed Rate is an unchanging rate. |
Index | The Index field allows users to define the index on the loan. The user has multiple index options to chose; 1, 3, 6 & 12 months of LIBOR, BBSY, EURIBOR, CMT, and SONIA, as well as 3 Months CMT, 6 Months CMT, 1 Year CMT, 2 Years CMT, or 3 Years CMT. |
Margin% | The Margin (%) field is applicable when choosing a floating rate, this allows the user to define a margin when choosing an index. The all-in rate will be Index+Margin, and this rate will be used in the coupon rate calculations. |
Rate Cap% | The Rate Cap% field defines the maximum limit on the rate of the loan, with the option of a vector. |
Rate Floor% | The Rate Floor% field defines the minimum limit on the rate of the loan, with the option of a vector. |
Next Reset Month | The Next Reset Month field defines when the calculation will reset based on the current index rate. |
Reset Frequency | The Reset Frequency field defines when the index will be sampled to obtain the current index rate. |