CU*Answers, known for providing its flagship core data processing system, CU*BASE, announces a new reporting tool added to its battery of features.
The new Loan to Value Analysis Report shows loan-to-value ratios on loan accounts a little differently than some are used to seeing the LTV being used on individual collateral records. With this report, the user can choose to calculate LTV according to either the current loan balance or the original loan balance. Additionally, this report will also look at all collateral records attached to the loan and calculate LTV using values from multiple collateral items.
According to the CUSO, this report will be very handy for reviewing mortgage loans that are nearing 80% LTV, and therefore requiring PMI termination, as well as to check for exceptions to credit union policy on LTV ratios. The report allows the user to choose a specific loan category to report, and can sort by account number or LTV ratio. The calculation can be based on current or original loan balance, and has the option to specify a cut-off ratio to display on the report.