Investor Remittance Wells Fargo/FHLB

Transcription

1 Investor Remittance Wells Fargo/FHLB PS_WELLSFARGO_REMIT (Application 1a fd9-4ade-a9f3-4de9504ee985) Overview: This application will produce an Investor Remittance file that will be in the format specified by the Wells Fargo FHLB/MPF (Federal Home Loan Bank - Mortgage Partnership Finance Program) format. The file created will be comma delimited with dates formatted as MM/DD/YYYY. There will be one row in the file for each loan sold or closed. The output file generated can then be loaded directly into Microsoft Excel. This program requires the DNA Investor Sold Loans module be installed and used. This program can be run from the Investor Loan Program File Create screen. In addition the program can either generate a data file or a printout. The file generated by this application will be in the Wells Fargo FHLB/MPF CSV Standard File Layout. Note that only the fields used in the ASCII layout will be populated (see File Layout section for more details). Key Benefits: This application will automate the creation of the investor remittance file for FHLB loans sold to Wells Fargo. This will allow the financial institution to submit the file in a timely and accurate manner. Processing: This application requires the DNA Investor Sold Loans module be installed and used. This program can be run from the Investor Loan Program File Create screen. In addition the application can either generate a data file or a printout. The following process should be followed to run the application: In DNA, access the File Types screen via Services > System > Institution > Files and Records > File Type. Create a new File Type (e.g. FHLB File Create ). The File Type Code can be any unique 4 character code (e.g. FHLB) and the File Type Description can be whatever as required. The important fields are the File Format Page 1 of 12

2 (Investor Remittance File), External Organization (the Investor Organization Financial Institution report to) and Load by Application Number (which must be the application number of new application Wells Fargo/FHLB Remittance ). Create another File Type (e.g. FHLB Report Create ). Again, the File Type Code must be unique (e.g. FHB1) and the description should be different. The remaining setup should be the same as above except the File Format field will be Investor Remittance Report. Before the remittance file is created, the existing DNA batch applications IL_RMPOF - Investor Remittance Payoff and IL_REMIT - Investor Remittance Cutoff must be run. In order to generate the remittance file and produce a report from this application, access the Investor Loan Program File Create screen via Services > Services > Investor Loans > Create Files > Remittance File Creation. Query for the investor and desired date range. (In the below sample screen shot, the Investor is Federal Home Loan Bank it may be different for different Financial Institutions). Once data Page 2 of 12

3 is returned, highlight the correct row and press the Process button. The output file will be titled WFFHLBREMIT.TXT and will be placed in C:\Temp folder, whereas the.lis file will be placed in the folder specified by the workstation s TEMP environment variable. In addition, pressing the Print button on the same screen (Investor Loan Program File Create) can generate a printed report detailing the loans that will be included in the file. Scheduling (for batch applications): Before the remittance file is created, the existing DNA batch applications IL_RMPOF - Investor Remittance Payoff and IL_REMIT - Investor Remittance Cutoff must be run. Page 3 of 12

4 Report(s): Field Listing: Field Invr Loan Number Account Number P&I Service Fees Description Wells Fargo Remittance File Audit Listing The Investor Loan Number. The Loan account number. Scheduled monthly principal and scheduled interest payment that a borrower is expected to pay, P&I constant. The servicer's fee amount as reported by the Servicer for a loan. Page 4 of 12

5 Field Description Sched Int The actual gross interest amount less the service fee amount for the current reporting cycle as reported by the Servicer. Sched Prn The actual principal amount collected by the Servicer for the current reporting cycle. Curtailment The curtailment amount to be applied. Curt Adj The Curtailment Interest on the curtailment (only for Scheduled / Scheduled loans if applicable). Payoff Prn The loan "paid in full" amount as reported by the Servicer. Payoff Date The paid in full date as reported by the Servicer. End Sch Bal The scheduled principal balance due to the investors at the end of a processing cycle. End Act Prin Bal The borrower's actual principal balance at the end of the processing cycle. Interest Adj The amount of the interest adjustment as reported by the Servicer. Principal Adj The amount of the principal adjustment as reported by the Servicer. Note Rate The loan interest rate as reported by the Servicer. Service Fee The servicer's fee rate as reported by the Servicer for a loan. Total for Remittance File Investor Loan The Investor Loan Program Code of investor loan number. Program Code Cutoff Day Number The cutoff day number associated with investor loan program code. From Date The From Date of generated report. Thru Date The Thru Date of generated report. Number of Accounts Total number of accounts reported. Principal & Interest Total amount of Principal & Interest for all accounts reported. Scheduled Interest Total amount of Scheduled Interest for all accounts reported. Scheduled Principal Total amount of Scheduled Principal for all accounts reported. Curtailment Total amount of Curtailment for all accounts reported. Curt Adj Total amount of Curtailment Interest for all accounts reported. Payoff Principal Total amount of Payoff Principal for all accounts reported. Ending Sched Bal Total amount of Ending Scheduled Balance for all accounts reported. Ending Actual Prin Bal Total amount of Ending Actual Principal Balance for all accounts reported. Principal Adjustment Total amount of Principal Adjustment for all accounts reported. Interest Adjustment Total amount of Interest Adjustment for all accounts reported. Service Fees Total amount of Service Fees for all accounts reported. Net Funds Due The cumulative amount of Scheduled Principal and Scheduled Interest for all accounts reported. Page 5 of 12

6 File Layout(s): Output File Layout Comma Separated (WFFHLBREMIT.TXT) The header will be displaying in first row of the output file. Field Format Description SER_INVESTOR_NBR Text up to 11 digits A value assigned by the Servicer to define a group of loans. LOAN_NBR Alphanumeric up to 22 characters A unique identifier assigned to each loan by the investor (MPF Loan Number) SERVICER_LOAN_NBR Text up to 11 digits BORROWER_NAME SCHED_PAY_AMT NOTE_INT_RATE NET_INT_RATE SERV_FEE_RATE SERV_FEE_AMT NEW_PAY_AMT Max length of 30 - (Last, First) 4 decimal (Max length of 6) 4 decimal 4 decimal (Max length of 6) A unique number assigned to a loan by the Servicer. This may be different than the LOAN_NBR. The borrower name as received in the file. It is not separated by first and last name. Scheduled monthly principal and scheduled interest payment that a borrower is expected to pay, P&I constant. The loan interest rate as reported by the Servicer. The loan gross Interest rate less the service fee rate as reported by the Servicer. The servicer's fee rate as reported by the Servicer for a loan. The servicer's fee amount as reported by the Servicer for a loan. The new loan payment amount as reported by the Servicer. Page 6 of 12

7 Field Format Description NEW_LOAN_RATE The new loan rate as reported by the Servicer. 4 decimal ARM_INDEX_RATE 4 decimal The index the Servicer is using to calculate a forecasted rate. ACTL_BEG_PRIN_BAL ACTL_END_PRIN_BAL The borrower's actual principal balance at the beginning of the processing cycle. The borrower's actual principal balance at the end of the processing cycle. Comments within the ASCII File Layout from Wells Fargo also include "Ending actual unpaid principal balance as of the investor cut-off date" BORR_NEXT_PAY_DUE_DATE MM/DD/YYYY The date that the borrower's next payment is due to the Servicer at the end of processing cycle, as reported by Servicer. Comments within the ASCII File Layout from Wells Fargo also states: "Next due date = last paid installment (LPI) date plus one month Wells Fargo comment: Borrower next payment due date" SERV_CURT_AMT_1 SERV_CURT_DATE_1 CURT_ADJ_AMT_1 First curtailment amount to be applied. Additional comments from the Wells Fargo ASCII File Layout are: If the value of this field is negative, the first position should reflect a leading "-" minus sign. If the value is positive, the first position should reflect a "0" fill. DO NOT use a leading "+" plus sign to indicate a positive value." MM/DD/YYYY Payment Due Date associated with the first curtailment amount. Curtailment Interest on the first curtailment (only for Scheduled / Scheduled loans if applicable). Page 7 of 12

8 Field Format Description SERV_CURT_AMT_2 Second curtailment amount to be applied. Additional comments from the Wells Fargo ASCII File Layout are: If the value of this field is negative, the first position should reflect a leading "-" minus sign. If the value is positive, the first position should reflect a "0" fill. DO NOT use a leading "+" plus sign to indicate a positive value." SERV_CURT_DATE_2 MM/DD/YYYY Payment Due Date associated with the second CURT_ADJ_AMT_2 SERV_CURT_AMT_3 SERV_CURT_DATE_3 CURT_ADJ_AMT_3 SCHED_BEG_PRIN_BAL curtailment amount. Curtailment Interest on the second curtailment (only for Scheduled / Scheduled loans if applicable). Third curtailment amount to be applied. Additional comments from the Wells Fargo ASCII File Layout are: If the value of this field is negative, the first position should reflect a leading "-" minus sign. If the value is positive, the first position should reflect a "0" fill. DO NOT use a leading "+" plus sign to indicate a positive value." MM/DD/YYYY Payment Due Date associated with the third curtailment amount. Curtailment Interest on the third curtailment (only for Scheduled / Scheduled loans if applicable). The scheduled outstanding principal amount due at the beginning of the cycle date to be passed through to the investors. Page 8 of 12

9 Field Format Description SCHED_END_PRIN_BAL The scheduled principal balance due to the investors at the end of a processing cycle. Additional comments from the Wells Fargo ASCII File Layout are: S/S = ending scheduled balance. (i.e., for April report, this is the ending scheduled balance after the scheduled May payment is applied.), if A/A, this field is blank Wells Fargo comment: S/S= ending scheduled balance. (i.e., for April cutoff, this is the ending scheduled balance after the application of the May scheduled principal, curtailment(s) and SCHED_PRIN_AMT SCHED_NET_INT ACTL_PRIN_AMT curtailment interest.), if A/A, this field is blank. The scheduled principal amount as reported by the Servicer for the current cycle. Only applicable for Scheduled/Scheduled Loans. Additional comments from the ASCII File Layout are: S/S = scheduled principal (i.e., for April cutoff, this is the scheduled principal payment for May). The scheduled gross interest amount less the service fee amount for the current cycle as reported by the Servicer. Only applicable for Scheduled/Scheduled Loans. Additional comments from the ASCII File Layout are: S/S = Scheduled NET interest (i.e., for April report, this is the scheduled interest payment for May). Wells Fargo comment: S/S= Scheduled NET interest (i.e., for April cutoff, this is the scheduled interest payment for May). The actual principal amount collected by the Servicer for the current reporting cycle. Only applicable for Actual/Actual Loans. Additional comments from the ASCII File Layout are: A/A = For April report, all actual principal received in April Wells Fargo comment: A/A= Does not include Curtailments or Liquidation principal. Page 9 of 12

10 Field Format Description ACTL_NET_INT The actual gross interest amount less the service fee amount for the current reporting cycle as reported by the Servicer. Only applicable for Actual/Actual Loans. Additional comments from the ASCII File Layout are: (i.e., for April report this the actual interest received in April) Wells Fargo comment: A/A = all actual PIF_AMT PIF_DATE ACTION_CODE PRIN_ADJ_AMT NET interest payments received in April. The loan "paid in full" amount as reported by the Servicer. Additional comments from the Wells Fargo ASCII File Layout are: S/S = scheduled principal liquidated, A/A = actual principal liquidated Wells Fargo comment: S/S = Beginning Scheduled Unpaid Principal Balance, A/A= Beginning Actual Unpaid Principal Balance. MM/DD/YYYY The paid in full date as reported by the Servicer. Additional comments from the Wells Fargo ASCII File Layout are: The actual date the loan was liquidated Wells Fargo comment: The actual date the loan paid in full. Numeric (Max length of 2) The standard FNMA numeric code used to indicate the default/delinquent status of a particular loan. Additional comments from the ASCII File Layout are: "MPF Servicing Guide two digit action codes. Wells Fargo comment: Wells Fargo is currently using the same action codes as Fannie Mae." Action Code Key: 15=Bankruptcy, 30=Foreclosure, 70=REO, 60=PIF, 65=Repurchase ; The amount of the principal adjustment as reported by the Servicer. Page 10 of 12

11 Field Format Description INT_ADJ_AMT PREPAY_PENALTY_ AMT SOLDIER_SAILOR_ADJ_AMT NON_ADV_LOAN_AMT LOAN_LOSS_AMT The amount of the interest adjustment as reported by the Servicer. The penalty amount received when a borrower prepays on their loan as reported by the Servicer. Soldier and Sailor Adjustment amount, if applicable. Non Recoverable Loan Amount, if applicable. The amount the Servicer is passing as a loss, if applicable. Additional Requirements: Requires DNA 3.0 or Higher From the Investor Sold Loans module, set up all the required investor and loan information. Before using the application copy the PS_ WELLSFARGO_REMIT.SQT file from the path defined in the EXTNS Batch Report Directory (defined in the Institution Option EXTNS Batch Report Directory BATE ) to the Professional Services (PS) directory (usually G:\OSI\BANK\BAT_EXE\PS\ or location referred by your "PS Batch Report Directory BATP" Institution Option). Installation: Note: If you obtained this application from the DNAappstore, please disregard the installation instructions below. If you did not obtain this application from the DNAappstore, please complete the installation instructions below. Run the PS_WELLSFARGO_REMIT.SQL script to register the application. Page 11 of 12

12 Copy the PS_ WELLSFARGO_REMIT.SQT file to the Professional Services (PS) directory, (usually G:\OSI\BANK\BAT_EXE\PS\ or location referred by your "PS Batch Report Directory BATP" Institution Option). After the successful execution of the PS_WELLSFARGO_REMIT.SQL script PS_ WELLSFARGO_REMIT.SQT can be executed via Batch Manager/Batch Server. Using the System Operations utility, enter the supplied Authorization Key for this application. Configuration Checklist: Item File Type Test Environment Production Environment Revisions Date App Change Version # 10/ Re-Packaged and Re-Documented for the App Store Page 12 of 12