Agency allocations and sources feed Single Family programs through SF Allotment. When a loan is reserved, the system uses SF Allotment to determine how that loan will affect the allocation of sources. As the loan proceeds through the defined stages, the money also moves through the stages, allowing for fund tracking.
Single Family Allocation module is comprised of a variety of components that allow the control and monitoring of funds through several different methods, such as tracking, pipeline, creation of sources, and splitting program funds according to specific needs. Allocation includes the following functionality: Agency, allowing the agency to define funding sources created; Allotments, allowing an agency to define the funding sources and guidelines on how they will interact with programs and loans; SF Views, data that can be viewed by the Single Family Program displays funds on a program basis and breaks down the funding on a critical stage basis.
Within the SF Program module agencies have ability to structure their programs based on agency criteria. Incorporated into the Single Family Program are a variety of tools used to track the following information: Program Information, Stages, Documents and Exceptions, Stage Actions, Stipulations, Income and Acquisition Limits, Purchase Parameters, and Associate Partners.
The SF Loan Management module handles the production factor of all loans, encompassing every aspect from origination to commitment and reservation, compliance, exceptions, purchase, delivery to trustee, interfacing capabilities with other HDS systems including Funds Management, Loan Servicing and Master Servicing. This module aids the agency in managing loan reservation data, it also ensures that the portfolio complies with the rules set up in the Program module, allowing the agency to manage the aging of loans through the pipeline also as compliance and accuracy.
The Single Family Web Loan Management System is a web-enabled loan management interface which allows lenders and non-lending partners to perform many of the tasks traditionally performed by housing agencies during the single family loan administration process. This Web functionality is designed to make the task of processing and managing loans easier by giving partners more control over the loans they oversee, while at the same time equipping agencies with the fastest method of communication between themselves and partners.