Overview
Settlements! For .Net offers servicing, accounting, and investor reporting for purchased payment streams, including annuities, lottery winnings, and other structured settlements.
Our structured settlement servicing software was originally developed out of our commercial loan servicing software. Since we first developed our software, the functionality specifically for purchasers and servicers of structured settlements has only grown. If you have structured settlements with complex needs and/or you'd like to improve your servicing, let us show you what we have.
Application Tracking
Tracking your applications has never been easier. Complete the application process and easily transfer to servicing. Create user-defined checklists, utilize holds or flags with optional administrator approval. Track documentss, pictures, videos, even URLs.
Tracking applications is never mandatory, but it can definitely be a useful feature. Import your applications from some third party software or keep track as you go.
Annuitant Tracking
Track the complete payment stream (e.g. annuity or lottery) for an individual and link multiple deals for for the annuitant to the payment stream. You can also indicate which payments in the stream have been purchased by another structured settlements purchaser.
Create quotes for new deals by having the software determine the collateral available for purchase and calculating the amount based on your rates. Once approved, let the software set up all deal information for servicing.
Deal Servicing
The software provides support for varying payment periods (lump sums, weekly, bi-weekly, monthly, annual, quarterly, non-guaranteed life time payments) and allows for the complete amortization of deals, including negative amortization and monthly compounding.
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- Collect payments via lockbox, ACH or Wire transfers and seamlessly process pass through amounts to the annuitant or third party via check, ACH, or wire transfers.
- Track tax withholdings for lottery payments, with independent tracking of borrower payments and tax payments.
- Define your own fee types and collect and track these fees as required.
- Use the dozens of standard reports to retrieve the information you need or use the built in Report Writer to define your own reports and letters.
Automatic Implementation of Deal Changes
Set up deal adjustments whenever you'd like - today or some time in the future. The software will know, and take these numbers into account on calculations, reporting, and everywhere you care. Increase your servicing staff's efficiency, never miss a loan change, and automate whenever possible.
Participation Tracking and Reporting
Each deal is linked to at least one participant or source of funds, but you can have as many participants and/or sources of funds linked to a deal as you want. We also include extensive financial reporting by deal and participant, as well as things like financial transactions and month end accrual information by participant. Also find deal sale information and transfer history.
We also include the option to securitize the deal information into multiple trusts / pools. After this we allow cutoff balance calculations and cash flow reporting for the securitized data.
Delinquent Deal Monitoring
You can track delinquent deals, with not only built-in inquiries and reports, but also through our workflow management sub-system, which allows you to define action queues based on your criteria. You can determine which users will be tracking which delinquent deals based on deal type, delinquency status, or whatever criteria you want. And that will build an action queue for your users to track your delinquent deals. Workflow can even create mail merge documents to be sent to your delinquent borrowers.
Discount/Premium Deals
For deals which have been purchased at a discount or premium, we support the automatic accrual of the discount or amortization of the premium over the life of the deal.
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Straight Line
Whereby the same amount is accrued or amortized each period.
Effective Yield
Whereby the amount is spread so that the total effective yield of the deal remains constant throughout its term.
Principal Reduction
Whereby the amount is calculated based on principal payments.
Escrow Processing
We allow you to maintain an unlimited number user-defined escrow accounts, each with their own balance. Use this for pass through processing, for due diligence during the application phase, and for many other reasons as needed.
Executive Summary
Quickly view your entire portfolio at a glance.
Breakdown deal delinquencies, deal counts, balancess. The executive summary runs off your month end info, and can allow you to easily review your portfolio details over time.
Financial History
A complete record of each financial transaction is stored when entered into the software. This history includes the transaction’s financial information and many of the deal’s key balances prior to the transaction. You can easily access all of this transaction history via inquiries and reports.