Investor Accounting Setting Up Loan Transfer Batches

Use the Batch Setup screen to set up loan transfer batches when you want to transfer ownership of loans from your institution to an investor or from one investor to another. Loan ownership is transferred when the loan transfer batch is posted.

After you set up a loan transfer batch, use the New Participant screen to add loans to the batch. At the loan level, the New Participant screen displays the information from the Batch Setup screen, eliminating the need to re-enter batch information when you add a loan to a batch. You can change the information on the New Participant screen as needed, but this does not update the Batch Setup screen or any loans that were previously added to the batch. Similarly, if you change information on the Batch Setup screen after you add loans to a loan transfer batch, this does not update any loans that were previously added to the batch. However, when you add a new loan to the batch, the New Participant screen displays the updated information from the Batch Setup screen.

To set up a loan transfer batch:

Select the Investor Accounting Application.
Select (New) from the Loan Transfers list.
Select Loan Transfer (the batch setup screen appears).
Enter a description for the batch.
From the Investor ID drop-down list, select the investor ID for the investor that you want to transfer loans to.
In the Effective Due Date field, enter the due date of the first loan payment due to the investor. If there is more than one participating investor for the same loan, the due date must be the same for all pending participants on that loan.
In the Service Fee (%) field, enter the monthly fee due to the servicer as a percentage of the principal balance.
In the Date Investor Fund Received field, enter the date that the loan was funded. (This is the date that you received the funds from the investor, not the date that the loan transfer was posted.) This field is used in the Investor Cutoff Update and MERS TOB Export events.

Note: be sure to enter this date; this is the only place where Servicing Director stores this information.

In the Investor Percent Owned field, enter the percentage of this loan owned by this investor.
In the Pool/Group Number field, enter the pool or group number that the loans in this batch are being transferred to. If there is no pool or group number, enter a zero.
If this investor is the controlling investor for the pool, select the Primary Investor check box.
Select OK to save your changes.

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