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FASB, GAAP compliant software
for a PC,
Shared network and
Cloud services supporting Windows
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Loan Files: FASB
91 Effective interest
method software
Deferred fee income and
expense amortization
Effective Rate and NPV
calculations
at the loan level:
Originated loans
Purchased Loans at the individual loan level
Scroll down for
Highlights, Price page and free demo
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Hard to find
(including custom)
GAAP
Amortization
Software to run on a
PC,
Network sharing or
Cloud based system
supporting Windows
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MCA - Merchant Cash Advances
discount amortization software
Available in these
Configurations ....
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Price and free demo |
Click to open and view Price page
Download a free demo from the Price page which
includes:
• A live version of the software
• Sample records
• Ability to run all reports
Or contact us with any questions.
1-800-245-8444
Support@fdssi.com
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Loan
files can be:
Excel worksheet
Service
bureau extract
Core
system download
Seller
service remittance
report ...
New
and
Existing loans
For existing loans:
Retain existing deferral balances and start using effective interest method
forward.
Start now or as of a prior date.
Calculate income
and expense recognition
for
prior month(s), prior year(s).
Loan Fee Income
and Expense can be:
A) Known amounts which
are included in the loan
file.
B) Known amounts
which are not included in
the loan file.
The software can "match"
Fees from an Excel file
and assign them to each
loan during the import
process.
C) Gross amounts which need
to be assigned to each
loan:
Some fees might be
billed to you as a single
amount covering all
services for the month
(not broken down by
individual loan).
Simply assign a single
amount to be distributed
to some or all new loans.
The software will
calculate a Dollar
Weighted Average for the
sum of principal and
distribute the percentage
of applicable loan's principal
divided by sum and
assign the result.
D) Combinations of the
above.
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Free
sample reports for YOUR loans
• We can provide you with free report
samples for up to 15 of your loans
• Request our Excel loan data layout file
• Email the file
• We will generate and return an email with an
Excel file containing your
reports
Click to request the Excel loan file via
email:
Support@fdssi.com
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Our clients needed a FASB 91
solution for ....
Additional
fees per
loan:
Client's servicing system could only amortize one
deferred
fee per
loan.
Our FASB 91 software can calculate individual effective
interest rates and recognize up to four
(4) unique fees per loan.
The software also provides individual lifetime month-by-month amortization
and recognition audit schedules for each
fee.
Client utilizes our software to amortize the additional
fees and account for general ledger P&L
and Balance Sheet reporting plus journal
entry support documents and postings. |
New type of loan offering:
Client was introducing a new loan product with
repayment activity for which their loan
servicing system was unable to comply
with FASB 91 recognition in a timely
manner.
We modified our software to accommodate their operational
and reporting
requirements well before the first loan
was put on the books. |
Manually serviced loans:
Client had a small portfolio of high balance, high
rate, short term loans which were not on
an automated servicing system.
Loans had various conditions including interest calculations of
both 360/360 and 365/360. Many
loans
were
short
term
balloons
with P&I
calculations
over a
longer
term.
Our software provided an solution to their FASB 91
reporting requirements which also met the
approval of their outside auditors. |
Due diligence, M&A:
Client was a CPA firm verifying whether a commercial
bank
under
acquisition
had properly recorded
loan fee
recognition.
As it
turned
out, the
bank had
been
immediately
recognizing
income
and
expense
for most
loans.
No
deferrals.
Our software was able to recalculate deferred loan fees
under FASB 91 and provide fee
recognition, P&L and Balance Sheet totals for
a
specified look-back period.
Services:
Inasmuch as a short time frame was involved for
completing this project, they sent loan
files to us for processing and we
returned desired reports in Excel
including
lifetime fee amortization and recognition schedules for
selected loans. |
Conversion to FASB 91:
Client had been calculating loan fee income and expense
recognition using the straight line
method.
Our software allowed the client to switch to FASB 91
recognition "as of" the end of their
most recent fiscal year using remaining
loan and deferral balances as of that
point.
The software also provided client the first year
difference between FASB 91 vs. Straight
Line by amortizing loans both ways for a
12 month period.
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Cash
payments vs. Accrued
Client's loan servicing system recognized deferred fees
with each cash payment. Fee
recognition did not sync with their
monthly loan interest income which was
cash plus accrued.
Our FASB 91 software is an accrual based system which
recognizes fee income and expense each
month regardless of payment activity.
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Capital management:
Client loans had semi-annual and
annual P&I payments. Also had
custom
notes
with fixed principal
payments due at various times during the
year.
Our software was able to meet their FASB 91
amortization
and reporting requirements. |
Independent comparison:
Client was uncertain their service bureau was properly
handling FASB 91 correctly for all of
their loan types, some of which actually
required a straight line method.
They used our
software to obtain parallel results,
including
straight
line for
applicable
loans. |
Special promotion:
Client wanted to "test the waters" with an unusual product.
Rather than incurring all the expense involved in
changing FASB 91 recognition using their
in-house system, they turned to us for an affordable,
immediate
resolution. |
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Prices |
Click to open and view Price page
Download a free demo
from the Price page, too.
Or contact us with any questions.
1-800-245-8444
Support@fdssi.com
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