CoPilotNon-Real Estate Loans - American Bank Systems · Commercial Loans: Beneficial Owners 22...
Transcript of CoPilotNon-Real Estate Loans - American Bank Systems · Commercial Loans: Beneficial Owners 22...
CoPilot Non-Real Estate Loans
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CoPilot Customization
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Introduction of Presenter and Assistant
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Disclaimer
This material is current as of October 22, 2019, and is designed to provide accurate information about the subject matter covered. American Bank Systems makes no representation or warranties of any kind or nature with respect to the contents of this material and specifically excludes any such representations or warranties, including without limitation, the implied warranties of MERCHANTABILITY and FITNESS FOR ANY PARTICULAR PURPOSE. This material is for training purposes and should not be used to verify regulatory requirements. To determine compliance with any requirement, please consult the Federal Register publication of these amendments, the Regulation and related Commentary, and the CFPB’s Guides.
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CoPilot Tools: Loans – Loan Calculator
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The Loan Calculator is used to calculate different types of loans based on specificparameters. The Loan Calculator is a sophisticated tool that accurately performs a variety ofcomputations. It has been tested against the Office of the Comptroller of the Currency (OCC)Annual Percentage Rate (APR) Calculation Program (http://www.occ.treas.gov/apr.htm).
The Loan Calculator can be run as a stand-alone tool even when a transaction is running. For example if a customer calls wanting a payment quote, the calculator can be accessed from the Loans menu and calculation performed without having to exit the current transaction.
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CoPilot Tools: Loans – Loan Calculator
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The stand-alone calculator allows the selection of collateral to display the Miscellaneous Fees and Finance Charges related to the collateral types checked. The default collateral is Unsecured and only the fees available for Unsecured collateral will be available. By clicking Select Collateral and choosing the appropriate collateral types, the fees will change from Unsecured to the fees based on the collateral types chosen. Any default amounts will also populate as if within a transaction.
Example: Unsecured Vehicle and Deposit Account
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CoPilot Tools: Loans – Loan Calculator
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Calculations can be saved outside of a product and imported into a transaction. If a calculation is performed using the stand-alone tool, the Quick Save feature can be used to save the calculation after the calculation is computed.
Enter the Name and Quick Search and select Save As at the bottom of the screen.
When processing the loan for a calculation that has been saved, select Import in the Actions box. You can toggle between your saved and all by checking or unchecking the Show Mine Only box. Select the saved calculation and click Import to load the saved calculation.
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CoPilot Tools: Loans – Loan Calculator
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The previously saved calculation will be loaded automatically selecting the calculation type and importing all entered data.
Calculations can also be saved within a transaction. Once the calculation has been computed, the Quick Save button is available and the calculation can be saved and used in another transaction.
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Consumer Loans: MLA Lookup
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MLA LookupJuly 26 MLA site update requires User Account Login
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Consumer Loans: MLA Lookup
Account needed to perform MLA Lookup
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Consumer Loans: MLA Lookup
MLA Lookup opens https://mla.dmdc.osd.mil/mla/#/login login pageWebsite does not allow automated interactionPerformed on each borrowerResults can be saved and uploaded for Document Imaging
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Consumer Loans: MLA Lookup
Certificates can be uploaded on the Borrower screen in the Loan InterviewSelect file and print to PDF to save report
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Consumer Loans: MLA Lookup
Certificates can be uploaded on the Borrower screen in the Loan InterviewSelect Upload MLA Report to save the report with the dataset
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Consumer Loans: MLA Lookup
Browse to the saved location and select fileChoose Upload to save the file to the Document Checklist
Once uploaded the report can be previewed or removed on the Borrower screen
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CoPilot Non-Real Estate Loans
Uploaded reports can be accessed from the Document ChecklistReports will be transfer to BankManager through Docs Direct to eliminate scanning
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Commercial Loans: Nested Entities
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• Enter the business that is the borrower• Check Business Borrower Only• No Loan Signers will be entered
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Commercial Loans: Nested Entities
Add a second Borrower as business signer
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Commercial Loans: Nested Entities
Check Business Signer Only for the signing businessEnter a Business Title, optional
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Commercial Loans: Nested Entities
Add Loan Signers for the signing business
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Commercial Loans: Nested Entities
If collateral is taken, select both businesses as the collateral owner to sign as a nested entity
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Commercial Loans: Nested EntitiesBusiness Borrower Only prints in title
Signature name prints with signer name and both business namesWill include Business Signer Title if entered
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Commercial Loans: Nested EntitiesNested Entities Signature FormattingSigner Name, Signer Title of Business Signer Name, Business Title of Business Borrower NameTed Smith, President of Smith Consulting LLC, Member of Fred’s Mexican Restaurant
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Commercial Loans: Beneficial Owners
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Beneficial Ownership rules became effective May 11, 2018Applies to business entities such as borrowers, cosigners, and deposit ownersInstitutions required to identify individuals with 25% or more ownership in a business
Select an exemption option if business type is classified as an exempt entity
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Commercial Loans: Beneficial Owners
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Enter Business Legal Entity Identifier if not exempt20-character identifierMultiple search sites online to find the number
Beneficial Owners process available if not exemptComplete even if no individual owns 25% or more
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Commercial Loans: Beneficial Owners
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Select Add to add a Beneficial Owner or Control Individual
• Beneficial Owner – an individual who directly or indirectly in any contract, arrangement, understanding, relationship or otherwise, owns 25% or more of the equity interests of a legal entity customer (e.g., each natural person who owns 25% or more of the shares of a corporation).
• Control Individual – an individual who has significant responsibility to control, manage, or direct a legal entity customer, including, an executive officer or senior manager (e.g., a Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Managing Member, General Partner, President, Vice President or Treasurer) or any other individual regularly performing similar functions.
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Commercial Loans: Beneficial Owners
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Beneficial Owner Only Individual owns 25% or more of the businessNot a control individual
Control Individual Only No ownership or less than 25% ownershipIs the control individual
Beneficial Owner and Control Individual Individual owns 25% or more of the businessIs the control individual
Select Beneficial Owner Option
If no individuals own 25% or more, select Control Individual OnlyEnter the information for the Control IndividualNo Beneficial Owners will be entered
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Commercial Loans: Beneficial Owners
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Select Full Name if entered in Loan Interview
Do not select Full Name if not entered in Loan InterviewHost Lookup/Recent Customers availableComplete all information needed
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Commercial Loans: Beneficial Owners
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Enter Ownership Percentage for all individuals entered owners 25% or more
Verification of ownership cannot exceed 100%Does not have to total 100% since owners with less than 25% are not included
Beneficial Owners Certification form• Signed by primary Loan Signer to certify informationBeneficial Owners Verification form• Used to perform CIP verification on each individual
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Commercial Loans: Beneficial Owners
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A Beneficial Owners manual is available with additional information on the website
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CoPilot Non-Real Estate Loans
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*** New Admin Navigation ***Go To Section added in Institution Settings for each Area to easily go to the section needed
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Commercial Loans: Marijuana Related Business
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AdminInstitution SettingsLoan SettingsGeneral Loan Settings
Marijuana Related BusinessInput for Business BorrowersSelect applicable option
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Commercial Loans: Marijuana Related Business
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New Certificate Regarding Marijuana Related Business (CRMRB) form added
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Commercial Loans: Marijuana Related Business
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Commercial Loans: Marijuana Related Business
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Line of Credit
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Supported Calculation Types:• Balloon• Installment• Interest Only• Fixed Principal• Single Payment• Irregular
Select Line of Credit as Interest TypeLoan Amounts Changes from
Amount Given To Customerto
Amount Left to DrawInitial Draw Amount
Amount Left to Draw (Amount remaining to draw from)+ Initial Draw Amount (Amount advanced at closing)
Total Line Amount
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Line of Credit
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Open End Credit – Commercial Loans Only• Checked = Revolving• Unchecked = Multiple Advance not revolving
Multiple Advance Conditions• Defaultable in Admin• Defines any conditions that must be
met to draw an advance from line
Loan Calculator: Interest Type = Line of CreditOpen End Credit not checked
Checks Multiple AdvancesOpen End Credit checked
Checks Revolving Credit
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Line of Credit
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Prints on back
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Irregular Loan Calculation – Commercial Only
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Irregular loan calculation available in Commercial Loans onlyEnter Loan Terms and Amounts
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Irregular Loan Calculation – Commercial Only
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Select the Payment Type for each payment stream neededCustom Payment Schedule option added
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Irregular Loan Calculation – Commercial Only
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Custom Payment Schedule allows free form input of repayment scheduleIf used, Commercial Note incorporating irregular memo for repayment will generate replacing addendum previously generating
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Release Notes
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Release Notes are included with every updateLists changes in updateRetains notes for all updatesDocuments instructions if needed
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Release Notes
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Website Tools
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Online videos and manuals are availablePlease contact Customer Care for access to the Customer Support Portal
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American Bank Systems, Inc.
14000 Parkway Commons Drive Oklahoma City, OK 7313414000 Parkway Commons Drive Oklahoma City, OK 73134
405.607.700043
Thank you for being a valued Customer!
AmericanBankSystems.com
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