Funding Quotes
Loans and endorsements imported from the Odyssey loan administration system into Clearquote can be viewed and maintained from within the funding quote maintenance page.
Once imported, the details must be completed on the funding quote page and saved, before continuing to the funding option page where it will be calibrated.
When imported or updated, a check is automatically performed and the necessary calculations done to determine if a securitised warehouse will participate in funding. If the warehouse will fund, the "attempt to fund through warehouse" will be set to YES.
If the warehouse will not fund, the "attempt to fund through warehouse" will be set to "NO"
If funded through the warehouse the amount to fund is outstanding balance of the loan - any future finance charges not already earned + payments received to date. Of this the funding interest will be made up of any payments received from the borrower as the warehouse will not fund this portion. The amount already received from the borrower is funded by balance sheet.
If funded by external investors the amount to fund is outstanding balance of the loan – all interest only - documentation fee + payments received to date. The payment amount already received from the borrower is funded by balance sheet.
Purchaser interest - the portion of the amount that will be funded by the warehouse being class A, class B and subordinate.
Seller Interest - the portion of the amount that will be funded by the warehouse being class S.
Funding Interest - the portion of the amount that will NOT be funded by the warehouse. If the funding is done through the warehouse then this portion will be funded by balance sheet as it is the funds received from the borrower prior to funding and settlement. If the funding is NOT done through the warehouse then this portion will be funded by balance sheet , external investors using BOTS or external investor by placing manual bids.
If a loan has been flagged in Odyssey to not be funded through the warehouse then regardless of the checks done, the funding quote will default to "attempt to fund through warehouse" set to "NO".
1. Navigate to the Clearmatch Admin Portal and select the "Clearquote" menu item.
2. Once in Clearquote select the "List Funding Quotes" menu item
You can also navigate directly to the funding quote by clicking on the funding quote number from other pages, example from the import page.
3. You will be presented with a page that will automatically list the quotes that have been created in the last 90 days that have a funding status of "Quoting" or "Calibrated". See here for a list of the funding statuses
4. Use any of the filter options to refine the list of quotes:
Type - allows you to list quotes or endorsements or both
5. The small icon on the right of the menu will slide the menu back and forth to give you more viewing space on the screen.
6. Click in the the blue "quote" button 
will navigate the user to the quote maintenance page where the user can view all the details and make the changes.
7. Click in the the green "fund" button 
will navigate the user to the funding option page where the user can and update the Funding Option.
Quote Maintenance Page
1. There are tabs at the top of the page 
that will allow the user to navigate to:
- Policies
- Settlements
- Funding Option
- The quote
- Reports for the quote
2. The recheck button allows the user to redo the calculations to determine if a securitised warehouse will participate in funding. It is very important to do a recheck if time has elapsed since the loan was first imported into Clearquote as the warehouse participation calculations include the entire portfolio as well as the most recent outstanding balance on the loan.
3. The user will be able to update the below details which will only be greyed when it is possible to make changes.
Assigned To: The list is obtained from Fusion system users against the premium funding company.
Tranche Note Warehouse Entity : The list is obtained from Fusion against the premium funding company. All the warehouse entities are listed. This is the warehouse the tranche note will fall under.
Tranche Note Funds Transferred Into: Will determine which bank account the funds are deposited into when the tranche notes are originated.
Primary Credit Rating: The list is obtained from Fusion against the premium funding company. Will list all active primary credit ratings for the primary credit rating table linked to the secondary credit rating table that exists on the product settings business rule for the premium funding company.
Secondary Credit Ratings: The list is obtained from Fusion against the premium funding company. Will list all active secondary credit ratings for the secondary credit rating table that exists on the product settings business rule for the premium funding company. The credit ratings selected will determine the default rate used for "seller interest" on the funding option and could also affect the investors that able to invest on the quote based on their mandate settings.
Funding Status: The funding option status can be updated to the options available. Funding Option Status
4. Clicking 
will calculate the annualised amortisation and save the details.
5. The status log at the bottom of the page will detail the funding status changes the quote has gone through and who performed the changes when.
6. The 
link will display the results of the warehouse check , if one was done.
Related Articles
Funding Option
The funding option will determine who will provide funding for the funding quote and the details for the funding. Once you have completed the details on the quote maintenance page , you will need to complete the funding option page and calibrate and ...Funding Option Status
The following funding option status's are available: Status StartStatus EndStatus Quoting True False Automatically set when a funding quote is created from a loan or endorsement imported from Odyssey Calibrated False Manually set in Clearquote when ...Tranches
All tranches from the funding quotes, can be viewed in one place under the tranche menu. From here a use can easily flag a tranche on a loan that is not to be funded by a warehouse as being "ready to fund" whereafter it will be picked up for tranche ...Policies
Policies linked to loans and endorsements imported from the Odyssey loan administration system into Clearquote can be viewed from within the policy maintenance page. 1. Navigate to the Clearmatch Admin Portal and select the "Clearquote" menu item. 2. ...What do I do and in what order
The standard flow will be: In Odyssey - a quote is approved and becomes a loan OR an endorsement is approved against an existing loan Before settlement is to be done, no need to do before that, do the following in Clearquote: Sign Into Clearquote ...