Warehouse Draw

Warehouse Draw

All funding quotes that have been imported and calibrated and it has been determined that the funding will be done through the warehouse, will have to be added to a warehouse draw in order to be sent to AMAL for the bank to decide if the warehouse will in fact fund. 

The following will not be able to be added to a warehouse draw
  1. Loans that have been flagged in Odyssey as only to be funded by  investors
  2. Loans for domestic products
  3. If the loan does not have sufficient TCI cover 

1. Navigate to the Clearmatch Admin Portal and select the "Clearquote" menu item.



2. Once in Clearquote select the Warehouse Draws" menu item



3. You will be presented with a page that will automatically list the warehouse draws that have been created in the last 90 days:






4. Use any of the filter options to refine the list of draws

 
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 "view " button  will navigate the user to the draw maintenance page  where the user can view all the details and make any changes.  


7. Click in the the green "new draw " button    will navigate the user to the draw maintenance  page where the user can create a new warehouse draw.  



Warehouse Draw Maintenance Page




1. There are option to add the following to a draw

       which will allow you to add funding quotes that have been calibrated and locked to the draw

       which will allow allow you to add loans that have been previously funded outside of the warehouse and the warehouse will now purchase and the proceeds used to pay back the       tranche notes that originally funded the loan


2. Clicking the   icon will expand the page to present a  filter to search for already funded loans. NOTE if the loan was not originally funded through Clearquote and Fusion then the loan cannot be done as Clearquote has no record of it.

      


3. Clicking the   icon will expand the page to present a  filter to search for funding quotes.
  
     
4. Once all the loans are displayed on the page, select the include checkbox  to select the specific loans you want included in the draw. 


5. Clicking   will save all the loans included, against the draw.

6. Verify. Once saved, the next step is to Verify the draw to see if the PCL checks pass. To do this click . The verification will do the following
  1. do a PCL check for each loan included in the draw
    1. The result for each individual loan can be viewed by selecting the results next to each loan. The individual results are more for reference when trying to determine if any loans should not be included in the draw. It is only the PCL checks of the draw as a whole which is important in the end.
  2. do an overall PCL check for the entre draw as a whole
    1. the results of the entire warehouse draw can be viewed by clicking on the  link

7.Commit To Utilisation. When you are happy with the verification results and the loans include in the draw click the  button which will generate the file that can be sent to AMAL for processing. The file generated will appear under the view documents tab where it can be downloaded and sent.



 
8. AMAL and the bank will process the file and once the draw has been purchased you will need to click the button to finalise the draw. At this point if any tranche notes need to be created for funding interest OR for seller interest and purchaser interest if the business rules are setup, then they will be generated.

9. You can add notes to a warehouse draw by clicking the "Add Note" button . While creating a note, you also have the option to upload and attach documents or emails, ensuring that all relevant information is recorded and stored with the draw.

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