Transcript 001 - Miser Users Group
1
Preparing for MISER 2013 Releases
Lenn Freeman, MISER Product Manager Jackie Roberts, MISER Product Manager
Release 2013.1 and Release 2013.2
• • • • • •
Improve Client Service Operational Efficiency Revenue Generation Improve User Experience Internal Policy Control Regulatory 3
IMPROVE CLIENT SERVICE
IMPROVE CLIENT SERVICE
•
MISERStudio Virtual Sales Desk
– – – – New Client Add New Account Opening Email Account Acknowledgement Electronic Signature Capture
Benefits:
Secure Real-time Access to MISER Serve client on the go at their location Modular offering Role-based solutions
5
IMPROVE CLIENT SERVICE
eBanking •
New Inquiry - View of Posted and Pending ACH items
– Inquiry transaction options: • Date Range for Posted, Received or Release Dates • Posting Type – Posted, Pending, List of Items – • • • • • • • • • Inquiry will display: Application and Account Number Posting Date Release Date Received Date Reject Reason (if rejected) ACH Transaction Code Transaction Amount Name Company ID – Not available for MISER ACH Solutions or MKE ACH Customers
Benefit: Reduces calls to call center by expanding self-service 6
IMPROVE CLIENT SERVICE
eBanking •
Suppress Restricted Line of Credit Balances on eChannel
– Will no longer provide line of credit balance if account is restricted • NL-LOCK-FLAG 1-6 • NL-MAT-ADV-CTRL = 0 • NL-DT-MAT < Current Date or • NL-STOP-DRAW-DT < Current Date – • • • • • • Transactions changed in eBanking (VBTP) CFCUS/CFCS2 - Customer/Member Profile Inquiry MSCRQ (Check Request) – Check Request NLAR2 – Line of Credit General Inquiry NLHIS – Line of Credit History NLARA – Line of Credit History 1-Step Transfer – X2$ One step transfer
Benefit: Reduced customer/member confusion when accessing account balances through eChannels 7
IMPROVE CLIENT SERVICE
ATM and Debit Processing •
Merchant Name Display
– Provide clear and understandable information on all POS transactions • Storage of merchant name when received from switch or location of transaction if merchant name is not provided in transaction • Information stored in the first 25 characters of the description • Available for Checking, Savings and Line of Credit – – MISER history displays will be modified to present merchant name • • • Exclusions: No modification to transactions prior to installation of Release 2013.1
Transactions posted for offline ATM institutions Postings through batch files
Benefit: More complete information provided resulting in less confusion and calls 8
IMPROVE CLIENT SERVICE
ATM and Debit Processing •
Expand integration with EFT Milwaukee
– This project continues our efforts to provide best in class integration to FIS products • Expanded services to include: – VRU card activation – PIN change at ATM – Cash deposit indicators and storage – Foreign Notification – Expanded message formats
9
IMPROVE CLIENT SERVICE
EFT UPDATE – EXPAND BASE2000 CREDIT CARD INTEGRATION •
Continued improvements to the BASE2000/MISER integration provides more consistent end-client experience reducing call center and client services
– Expansion of name and address sent to BASE2000 (30 characters) – – – – – – Prevention of cash advances through internet channel if card is not active Apply PCI compliance to Credit Card Numbers Apply MISER transaction level security
Prohibit addresses more than 30 characters in length for BASE2000 institutions Card activation via branch channel Support of the June 2013 NCUA delinquency reporting change (12-CU-12)
Benefits: Better management of addressing resulting in fewer returned cards Improved security for card holders through PCI and transaction level security Improved delinquency management by presenting delinquency in days vs. months 10
IMPROVE CLIENT SERVICE
Communication Management • • • • • • • •
Combination Structure Housing both eAlerts and eDelivery Accountholder Decisions Customer/Member subscription information stored on MISER for easy research and client service Standard alerts with automatic enrollment Real-time alert processing for balance changes, check alerts and more 27 predefined alerts available Alerts managed by FIS Enterprise Alert System eDelivery managed by FOS or others E-mail limit
– AP-MAX-E-MAIL • Limit on number of usable e-mails allowed for alerts and delivery
11
IMPROVE CLIENT SERVICE
eAlerts – Real –Time Processing • •
27 Alerts available Parameters related to Alerts
– – AP-AFFIL-ALERTS AP-AUTO-ALERTS • Necessary to determine whether alerts not requiring a subscription are automatically generated – AP-ALERT-PGN • Populated with MISER Institution ID (e.g. FL99) • MISER uses this field in conjunction with the institution number to create a unique identification on EAS – AP-ALERT-PGN & AP-ASSN-NBR (i.e. FL99001 FL99002)
Benefit: Ability to provide real-time balance and check clearing alerts; additional alert options 12
ALERT MESSAGE SAMPLE – PHONE NUMBER CHANGE
13
ALERT MESSAGE SAMPLE – HIGH BALANCE ALERT
14
INSTITUTION LEVEL CONTROL FILE
CCP-ASSN-NBR CCP-COMM-ID CCP-EXTERNAL-ID CCP-GROUP-ID CCP-DESCRIPTION CCP-ENROLLMENT CCP-TYPE CCP-STATUS CCP-EMAIL CCP-TEXT-MSG CCP-PRINT CCP-ADVANCE-DAYS CCP-BALANCE-TYPE CCP-FREQUENCY CCP-EFILE-SPLIT CCP-PAPER-FEE CCP-DELIVERY-DEST CCP-DCTRL-LOC CCP-DEFLT-AMT 000 Applies to all institutions in the database 001-999 Institution level override 001 – 099 – Reserved for Groups 200 – 299 – Reserved for eDelivery 100 – 199 – Reserved for Alerts 300 – 999 – Reserved for future use 8000 – 8999 : EAS Assigned eAlerts available in the MISER system Alternate communication ID number in account subscription record. Name of communication service 0 - Not offered 2 - Auto-subscription 0 – None 2 – Delivery 0 - Not available 2 - Not offered 0 - Email is not available 0 - Text messaging is not available 1 - Elected Subscription 3 – Mandatory 1 - Alert 1 - Offered 1 - Email is available as a communication method 1 - Text messaging is a communication method 0 - Use program to determine if print is allowed 1 - Printed document is available as communication Default number of days in advance of event to send e-alert/notice/form 0 – Account/Principal 0 - Triggered from transaction event 0 - Use the program to determine separate file Fee to assess when notice sent 1 – Available/Calculated amount due 1 - Daily (end of day) 1 - Split electronic delivery statements/notices into a separate file Freeform vendor name, IP address or other distinguishing factor that indicates where delivery documents are processed 0 - No Print Control Line 2 - Print Control Line on every page Default threshold amount, if none supplied by client 1 - Print Control Line when new account/client document begins Institution Identification Number Communication ID External Vendor ID Subscription Group Number Description Enrollment Option Electronic Message Type Availability Email Delivery Option Text Messaging (SMS) Option Print Option Advance Notification Balance Type Event Frequency Delivery File Split Option Paper Delivery Fee Document Delivery Destination Delivery Control Print Location Default Amount
CONTROL FILE SAMPLE TABLE (SOME FIELDS NOT LISTED)
Assn
001 001 001 001 001 001
ID
100 101 121 200 201 202
Ext ID
8000 8001 8021
Group
000 000 000 000 001 001
Description
Available Balance Low Balance Email Change MRD009–Statement MSR175 –Exception NDD298 –Exception
Type
Alert Alert Alert Delivery Delivery Delivery
Enroll
Optional Optional Mandatory Automatic Optional Optional
CONTROL FILE SAMPLE TABLE (SOME FIELDS NOT LISTED)
Assn
001 001 001 001 001 001
ID
101 102 120 200 201 202
Ext ID
8000 8001 8021
Group
000 000 000 000 001 001
Description
Available Balance Low Balance Email Change MRD009–Statement MSR175 –Exception NDD298 –Exception
Type
Alert Alert Alert Delivery Delivery Delivery
Enroll
Optional Optional Mandatory Automatic Optional Optional Client is enrolled in alerts because there is an e-mail address - Changes to e-mail address will send automatically: mandatory alert Client subscribes to the following alerts: - Daily Available Balance request to e-mail 1 at 5:00 am and cell phone at 9:00 am. - Low Balance alert to cell phone - Statements to be e-delivered to email 1 - Paid and Returned Exceptions (All channels) to e-mail 1 and cell phone.
CONTROL / SUBSCRIPTION SAMPLE TABLE (SOME FIELDS NOT LISTED)
Assn
001 001 001 001 001 001
ID 100 101
121
200
201 202
Ext ID
8000 8001 8021
Group
000 000 000 000
001 001 Description
Available Balance Low Balance Email Change MRD009–Statement MSR175 –Exception NDD298 –Exception ID:
100
CFM Account APPL Account EM1: Y EM2: N SMS: Y ID:
101
CFM Account APPL Account EM1: N EM2: N SMS: Y No subscription record for ID 020: Mandatory alert ID:
200
CFM Account APPL Account EM1: N EM2: Y SMS: N
Type
Alert Alert Alert Delivery Delivery Delivery
Enroll
Optional Optional Mandatory Automatic Optional Optional ID:
001
CFM Account APPL Account EM1: Y EM2: N SMS: Y
ACCOUNT LEVEL FIELDS
• •
Fields defined by application
– Client may opt out, or be forced out of enrollment • • •
Enrollment and subscription fields for Client level
– Include Alerts and Delivery – Records enrollment and cancellation dates •
Subscription fields for monetary applications
– Include Alerts and Delivery
Subscription for Plans
– Include delivery only
Subscription for Cards
– Includes alerts only
External Relationships
– Fields exist, but not currently implemented
19
•
Client 0001
–
Email Record (CFMEM) [email protected]
–
[email protected]
–
Cell (321) 123-4567
•
Spouse 0002
–
Email Record (CFMEM) [email protected]
–
Cell (321) 123-4589
•
Checking Account
–
Client JTO
–
Spouse JTO
•
Loan Account
–
Client JTA
–
Spouse JTA
•
Savings
–
Client SOL
•
Certificate
–
Spouse SOL
Client and spouse want to get a daily balance alert to all three emails and two cell phones.
555 444 333 222
DAILY BALANCE ALERT CONFIGURATION
Client CFM: 1 CFM-CELL-PHONE 321) 123-4567 Appl 10 Number 555 CFMEM Sequence 01 (EM1) [email protected]
CFMEM Sequence 02 (EM2) [email protected]
EM2 EM1 Daily Balance ID: 100 EXT ID: 8000 CFM 00000001 AP/Acct 10 00000555 SMS SMS EM1 Spouse CFM: 2 CFM-CELL-PHONE 321) 123-4589 CFMEM Sequence 01 (EM1) [email protected]
Daily Balance ID: 100 EXT ID: 8000 CFM 00000002 AP/Acct 10 00000555
Email Address Configuration
Client CFM: 1 CFMEM-EMAIL-ADDR (1)
CFM-SEQ (7)
01 (Email sequence 1) CFMEM-APPL-CODE CFMEM-ACCT-NBR CFMEM-DT-LAST-FM CFMEM-MISC-CODE (2) EM1 001 30 (CFM) 0000000001 01/01/2012 SMS User Defined Field User Defined Field EM1 Spouse CFM: 2
De-implemented:
Status Use-Code Msg-Format Sequence 01 (EM1) [email protected]
CFMEM-FAILURE-CNT
Sequence 03 (EM2) EM2 [email protected]
Daily Balance ID: 001 EXT ID: 8000 CFM 00000001 AP/Acct 10 00000555 Number of times this e-mail had invalid address return If this field is greater or equal to control, then subscriptions tied to this e-mail address will be printed instead.
Daily Balance ID: 001 EXT ID: 8000 CFM 00000002 AP/Acct 10 00000555
DAILY BALANCE ALERT SUBSCRIPTION SAMPLE
Client CSM-ASSN-NBR CSM-APPL-CODE CSM-ACCT-NBR CSM-COMM-ID 001 10 555 001 Appl 10 Number 555 SMS SMS Spouse CFM: 2 CFM-CELL-PHONE 321) 123-4589 CSM-EXTERNAL-ID 8000 (System updated – no updates by user) CSM-CIF 1 CSM-LAST-FM CSM-SUBSCR-DT 01/01/2012 EM1 CFMEM Sequence 01 (EM1) [email protected]
CSM-CANCEL-DT CFMEM CSM-EM1 CSM-EM2 CSM-CELL 00/00/0000 Y(es) Y(es) Y(es) EM2 Number of days in advance: used with payments due/maturity
COMMUNICATION MANAGEMENT - eDELIVERY
•
Parameters related to e-Delivery
– – AP-AFFIL-ALERTS AP-DELIVERY-FAIL • Number of delivery attempts to a specified address allowed. Once exceeded, subscriptions revert to print.
•
Parameters
– PSV-DELIVERY-DFLT – – – – PCD-DELIVERY-DFLT PND-DELIVERY-DFLT PNL-DELIVERY-DFLT PLN-DELIVERY-DFLT •
Allow for Green Account automatic e-delivery for all documents
– – 0 – Paper Delivery 1 – Electronic Delivery
24
COMMUNICATION MANAGEMENT - eDELIVERY
CUSTOMER/MEMBER FACING DOCUMENTS IN 2013.1 – 39 PROGRAMS/DOCUMENTS
e-Delivery Name Program Description
Originator ACH Notices TWR009 Posted ACH Transactions Notice TWD001 Exception Notices Exception Notices TWD003 TWR010 Exception Notices Exception Notices Exception Notices Periodic Commercial Analysis Periodic Statements Periodic Statements Returned Deposited Notice MSR175 NDD299 NDD398 MRD300 MRD007 MRD009 MRD010 ACH Originator NOC and Returned Item Advices - TWR009 ACH Notices Record - TWD001 ACH NSF/Representment Notice - TWD003 ACH Exception Advice - TWR010 Overdraft/Exception Notice - NDD098/398/MSR175 *surveyed as one Electronic Transaction NSF/UNF Notice - NDD299 Overdraft/Exception Notice - NDD098/398/MSR175 *surveyed as one Commercial Account Analysis - MRD007/MRD300 Monthly/Periodic Statement - MRD007/MRD009 *surveyed as one Monthly/Periodic Statement - MRD007/MRD009 *surveyed as one Return Deposit Notice - MRD010
25
COMMUNICATION MANAGEMENT - eDELIVERY
CUSTOMER/MEMBER FACING DOCUMENTS IN 2013.1 – 39 PROGRAMS/DOCUMENTS
Program Description e-Delivery Name
CD Advance Maturity Notice Notice of Certificate Renewal B-Notices Overdraft Protection Transfer Overdrawn Account Notice Overdrawn Account Notice Reg D Notice Notice of Rate Change Past Due Notice Escrow Analysis Statement Loan Billing Statement SVR598 SVD091 MSR910 NDD198 NDD396 SVD396 MSR508 NLFP10 NLFP06 LNA404 LNM216 Certificate Renewal/Maturity Notice - SVR598 Renewal Notice - SVD091 W-9/B-Notice Form - MSR910 Overdraft Protection Transfer - NDD198 Overdrawn Account Notice - NDD396/SVD396 *surveyed as one Overdrawn Account Notice - NDD396/SVD396 *surveyed as one Accounts Exceeded Limit (Reg D) Notice - NDR/MSR508 surveyed as one LOC Rate Change Notices - NLFP10 LOC Past Due Notice - NLFP06 Escrow Analysis Statement - LNA403/404 *surveyed as one Loan Statement and Bill - LNM216
26
COMMUNICATION MANAGEMENT - eDELIVERY
Customer/Member Facing Documents in 2013.1 – 39 Programs/Documents
e-Delivery Name Program Description
Loan Billing Statement Safe Deposit Box Bill Sweepback Confirmation Letter Billing and Maturity Notices Dormant Status Change Notice LNM216 Past Due Notice Rate/Payment Change Notice LNM203 LNM215 Plan Withholding SVD100 SDR200 NDD994 LNR781 MSR932 Loan Statement and Bill - LNM216 Loan past Due Notice - LNM203 Rate/Payment Change Notices - LNM215 Retirement Withholding Notice - SVD100 Safe Deposit Box Notice - SDR200 Sweepback Processing Program -NDD994 Billing and Maturity Notices Program - LNR781 Dormant Status Change Notice - MSR932
27
Communication Management - eDelivery
CUSTOMER/MEMBER FACING DOCUMENTS IN 2013.2 – 10 PROGRAMS/DOCUMENTS
e-Delivery Name Program Description
Year End Reporting 1099-MISC APA400 Annual Loan Statement Year End Reporting 1098 LNA408 LNA460 Year End Reporting 1099-C LNA463 Year End Reporting 1099-INT MSA402 Year End Reporting 5498 for Plans MSA408 Year End Reporting 5498 for Plans Year End Reporting 1099 for Plans Year End Reporting Plan Statements Plan Required Minimum Distribution MSA409 SVA451 SVR529 SVR534 1099-MISC Account Payable - APA400 Annual History Statement - LNA408 1098 Interest Paid Form - LNA460 1099-C Cancellation of Debt - LNA463 1099-INT Interest Form - MSA402 5498/5498-EAS/5498-SA - MSA408 5498/5498-ESA/5498-SA - MSA409 1099-R/1099-Q/1099-SA Form - SVA451 Retirement Statement/Substitute 5498 - SVR529 Savings/Certificate Regulated Plan RMD Notice - SVR534
28
IMPROVE CLIENT SERVICE
ADDITIONAL FEATURES •
Ability to see 24 x 7 pending transactions via teller platform
– – Available to ATMMISERNet institutions only Additional feature to Pending Transaction Feature provided in 2012 – New transaction allows client support (teller) to: • View detail Electronic Banking transaction activity during nightly processing • Savings, Checking, Line of Credit and Loan application history will be available
Benefit: Provides means to research cardholder questions if ATMMISERNet is not online 29
IMPROVE CLIENT SERVICE
HSM SUPPORT – MISER BA AND MISER DESKTOP • •
Charlotte Service Bureau (Late 2013)
– – Support ATM/Debit Card PIN changes via DeskTop Support card swipe and PIN verification for client record inquiries – Licensed service
In-House Customers
– – Support ATM/Debit Card PIN changes via DeskTop Support card swipe and PIN verification for client record inquiries – Requires HSM Device at institution site
Benefit: Provides ability for customer/member to change PIN 30
IMPROVE OPERATIONAL EFFICIENCY
IMPROVE OPERATIONAL EFFICIENCY
BUSINESS INTELLIGENCE •
Mailing Label Capability
– Creates two new sample reports listing client name(s) and current mailing address which can be used in the creation of mailing labels.
• One report will select all open, non-corporation accounts with a balance greater than or equal to a user specified balance • One report that will select all open accounts with a balance greater than or equal to a user specified balance which may include the joint clients’ name. •
Access to ATM Datasets via MISER Business Intelligence
– New report that will select all ATM/Debit cards that have a checking account tied to the card, based on the user specified card status, user specified card and list all checking accounts linked to the card. – New report that will select ATM transactions based on a posting date range.
32
IMPROVE OPERATIONAL EFFICIENCY
MISER DESKTOP – MISER BA •
Perform Search if the ‘Add’ button is selected without a search within MISER BA
– Avoid duplicate records by keeping the integrity of the RCIF system
Benefit: Maintains the integrity of a single RCIF record per client
•
Add FRB Calculator to new transactions within MISER BA
– The FRB Calculator will now be available on the Exchange Check and Money Order Sold transactions.
33
IMPROVE OPERATIONAL EFFICIENCY
MISER DESKTOP – MISER BA •
Workflow Authoring Toolkit
– MISER Branch Automation now supports workflow with: • Transaction linking • Data Conditions
34
35
IMPROVE OPERATIONAL EFFICIENCY
FIS CONNECTIONS INTEGRATION – PHASE 1 • • •
Alternative to MISER SAM for Branch Automation Provides increased flexibility and features using FIS Connections Available as part of the 2012.2 release
– Pilot to begin after MUG • •
Released with new user-interface for MISER Branch Automation in Release 2013.1
Features Include:
– – – Making Referrals Acting on Recommendations New Customer/Members Recommendations • New customers/members are sent to Connections in real-time • Allows any new customer/member campaigns to be returned
Benefits: Increased ability to provide referrals and recommendations, improved reporting and management 36
CONNECTIONS – RECOMMENDATIONS
37
PRODUCT RECOMMENDATION
38
PROSPECT AFTER REFERRAL
39
COMPLETED REFERRAL
40
PROSPECT – AFTER REFERRAL
41
ACCESSING REPORTING
42
EMPLOYEE PERFORMANCE REPORT
43
MISER DESKTOP INTEGRATION EXAMPLES
44
MISER DESKTOP RECOMMENDATIONS
45
MISER DESKTOP PROFITABILITY
46
IMPROVE OPERATIONAL EFFICIENCY
EFT UPDATE •
Improved Corporate Debit Card Management (EFT)
– Provides consistency between personal and corporate debit card embossing • Corporate names will now be on Embossed Name 1 • Employee names will now be on Embossed Name 2 •
Élan To-Host Maintenance
– Hot carding performed on the Élan card platform will be sent to MISER • Updated device driver to accept “To-Host” maintenance transaction • Eliminates redundant entry of hot carding •
Ability To Purge Unused Card Class
– Eliminate teller/platform confusion and errors by removing unused card classes – Requires no cards be attached to the card class
47
IMPROVE OPERATIONAL EFFICIENCY
MISER LENDING - Multiple Participations Teaser Rate Support •
Supporting participated commercial loans an initial yield reflecting the “teaser” rate through fixed yield
– – – – Reduces overhead to manage off-MISER Single source for MP participation reporting and remittance Initial fixed yield supporting teaser rate Variable rate periods supported •
Set Up Transactions Include Yield Set Up 48
IMPROVE OPERATIONAL EFFICIENCY
MISER LENDING – MULTIPLE PARTICIPATIONS TEASER RATE SUPPORT
49
IMPROVE OPERATIONAL EFFICIENCY
MISER LENDING – DELINQUENCY SPECIAL PROCESSING FOR LINES OF CREDIT •
Provides ability to manage all delinquent loan types in a single manner
– Duplicates loan DSP feature – Maintenance and flags defined by specific set of parameters by delinquency type • Allow for same PDLQ- set to function for both loans and NL – Added parameter (PDLQ-NLFLG-CTL{1-40}) – setting of NL lock and other flags • Some PDLQ- parameters will only be applicable for specific application •
Added new NL- fields from tracking delinquency category
– – – – NL-DELQ-CAT NL-DELQ-CAT-DT NL-DELQ-CAT-CTR NL-DELQ-CAT-TYPE
Benefit: Reduces training and special instructions based on type of lending product 50
IMPROVE OPERATIONAL EFFICIENCY
MISER DESKTOP - SmartCOLLECTOR •
SmartCOLLECTOR Enhancement for ALR
– Implement the enhanced ALR Master Inquiry into the Host Online Inquiry screen, adding more fields to the display •
SmartCOLLECTOR - Increase size of Attention Box Size
– Increased size of Attention Box to accommodate 250 characters (increased from 125) •
SmartCOLLECTOR – Promise limits
– Provide a new option that limits how far a collector can set the due date of new promises
Benefit: Prevents promise to pay dates from being set well into the future.
51
IMPROVE OPERATIONAL EFFICIENCY
COMMUNICATION MANAGEMENT - eDELIVERY •
Eliminate Printing of eDelivery customer/member facing documents
– Supported in same structure as eAlerts – Manage institution offerings and accountholder selections – Accountholder election sent in the print or data file header for each statement/notice – Addition option to support ADA vision impaired statements (note: requires additional agreement to produce): • Braille • Large Print • Audio • Compact Disk
Benefit: Eliminates printing of eDelivered documents 52
IMPROVE OPERATIONAL EFFICIENCY
MISER DEPOSITS - DORMANT ACCOUNT MANAGEMENT IMPROVEMENTS • •
Provide functionality to reinstate an account to dormant status when a transaction is error corrected Dormant Activity Reports Modified (NDD073 and SVD023)
•
Multiple Transactions/Error Correction
– An asterisk (*) before the transaction code indicates additional transactions occurred after the account was changed to active status. –
The Financial Institution must verify that the status is accurate.
•
Dormant Date display:
•
Status display:
Shows both original and new dates Shows both original and new status
CER Benefit: Will reduce overhead for your back office and branch teams 53
IMPROVE OPERATIONAL EFFICIENCY
MISER DEPOSITS - DORMANT ACCOUNT MANAGEMENT IMPROVEMENTS •
Produce notices to accountholders:
• When a dormant account has activity to ensure activity was conducted by an authorized party • An account becomes dormant • New Parameter: WXP-DORM-NOT-CTRL 0 = Do not produce notices 1 = produce notices only when the status changes from 1 (open and active) to 2 (dormant) 2 = produce notices only when the status changes from 2 (dormant) to 1 (open and active) or to 3 (closed) 3 = both 1 and 2 • New program - Dormant Status Change Notice (MSR932) – has a card file – Includes both notices and report listing
54
IMPROVE OPERATIONAL EFFICIENCY
• • • MISER DEPOSITS
Escheatment Processing
– – – Added name of state to heading of report to allow easier management of process Useful only if the Financial Institution reports to multiple states via separate runs Card 7, columns 49-56 allows for 8 characters to add to the end of the report heading • E.g. ‘FL–Final’; ‘GA–Pre’
Delivery Option – Extended Hold Notices
– Now supports the DEPCON format allowing for institution defined format
Improve Credit Union Numbering Feature – Automatic Generation
– Enhanced new set up transactions (NL1) and (NSU) to generate based on parameter value • • Originally required that BA pre-allocate the account number to create the correct account with suffix MISER BA will now pre-populate the CFM number into the index from the session, and MISER will generate correctly – • New options for suffix generation, or no automatic generation Credit Unions use mortgage origination packages that create the account number scheme – • Enhance Split Beneficiary Transaction to accommodate automated account number generation Did not accurately generate the new account numbers based on the beneficiary member number.
55
IMPROVE OPERATIONAL EFFICIENCY
PROGRAM AND TRANSACTION SPECIFIC NEWS • • • •
Program Resequence – DLYEXP Transaction Sunset – ECHO
– – Final Active Charge Off Final Active Charge Off Reversal
Program Sunset – Old Investor Reporting
– – – – LNM276 – Freddie Mac Form 308 (Accounting Group Control) program LNM279 – Freddie Mac Form 101 (Delinquency Status Report) program LNRDLQ – Freddie Mac Form 100 (Monthly Summary of Delinquencies) LNR511 – Sold Loans Report program
Product Sunset – Investor Reporting for Line of Credit Accounts 56
REVENUE GENERATION
REVENUE GENERATION – CERTIFICATE PENALTIES
•
Minimum penalty amount
– – – Account Type Parameter PCD-PENALTY-MIN Database field S-PENALTY-MIN MISER will calculate penalty based on penalty code on account. If less than amount in S-PENALTY-MIN, then MISER will post the field amount instead.
•
New penalty code 52
– 50% loss of interest for remaining term, not to exceed 365 days – Simple interest calculation •
New penalty code 53
– – 7 days interest without regard to term Simple interest calculation
58
REVENUE GENERATION – LENDING
•
Expanded Prepayment Penalty Sequences
– – – Expand from 5 to 9 records per loan Offered for all loans and lines of credit products No other new functionality
59
REVENUE GENERATION
CONNECTIONS INTEGRATION TO MISER BRANCH AUTOMATION •
Extend the integration of Connections to include real-time results for Recommendations through MISER Branch Automation
• •
Extend the integration of Connections to include real-time results for Referrals through MISER Branch Automation
•
If customer uses Connections, disable SAM Referral functionality Pass MISER Branch Automation new client record to Connections real-time 60
IMPROVED USER EXPERIENCE
IMPROVE USER EXPERIENCE
• • •
SmartWRITER - Add Additional Bookmarks
– – Add S-DAYS-OD as an available bookmark on letters Add Interest Rate as a Special Bookmark, providing the option for users to choose the format printed on letters – – –
MISER Administrator Enhancements
Enhanced to support more complicated parameter structures Now supports SQL Updated user-interface with subtle improvements
Single Sign-on Support thru FIS Portal
– SSO completed by July 2013 through MISER Desktop: • Image Centre – Archive • Image Centre – Other • Qualifile • BASE2000
62
INTERNAL POLICY
INTERNAL POLICY
• •
Certificate Deposit Management
– Limit the amount of additional deposits during grace period – Institution defined via global amount tables
Ability to Service Charge for Dormant Accounts based on Account Types
– Options are now available to include and/or exclude base on account type
64
INTERNAL POLICY
•
Certificate Deposit Management
– Limit the amount of additional deposits during grace period – Product level option (PCD-GRACE-MDEP) using global amount tables – Each deposit is independent; if the limit is 5,000, then multiple 5,000 deposits may post during the grace period.
– Enhances current functionality where options for maximum balance during grace cannot exceed either 1) twice the account balance or 2) 100,000 – Suggestion – set both limits as a group; no deposit can exceed 5,000, up to twice the account balance during the grace period.
65
INTERNAL POLICY
•
Ability to choose which account types are selected for dormancy inclusion
– Options are now available to include and/or exclude based on account type in SVR526 • Originally only able to select products to service charge; but all accounts would become dormant.
– Allows Financial Institution to select account types that align with statement drop and change it with cycle or in advance of the cycle – Also allows FI to both charge selected accounts; and change those same selected accounts to dormant in the same run – • May select individual account types or ranges of account types. Card 3 added for dormant selection
66
REGULATORY
REGULATORY
•
VISA Mandates
– PAVD (PIN Activated Visa Debit) • Allow institution processing option – PIN or signature transaction – • Cash Back Support Enhance MISER to support cash back for debit transactions base don VISA rules – • Regional Network – Pinless Transactions MISER will manage Pinless Transactions based on regional network •
Co-Op Mandate (VISA Cash Back Option)
– Requires issuer to provide partial pre-authorization if account has funds to cover the purchase, but not cash back
68
REGULATORY – YEAR END
• • • •
FATCA Requirements
– Track Non-Financial Foreign Entities (NFFE) and Global Intermediary Identification Number (GIIN) – – – Support various tracking and certification dates as defined Ability to withhold, charge, track and report at current rate (30%) Track request dates and NFFE and GIN Certification
Data Inflight ITIN And 1042S Requirements
– – – Tracking of ITIN expiration dates Plan for future reporting, tracking, activity when ITIN expires 1042S Reporting for additional countries as defined by the IRS • Service Bulletin 1304-0057 • No MISER Changes Needed
Year End Required Changes 69
REGULATORY – REG Z
CLOSED END – FIRST MORTGAGES SECURED BY REAL ESTATE • • • • •
ARM Notices – Change Format and New Initial ARM Notice for all Servicers Statement Change Required For Servicers With Over 5000 First Lien Mortgages Compliance Date – January 10, 2014
–
Changes In 2013.1 For Revised Late Charge And Unapplied Funds Processing
Late Charge Processing will be 100% financial including charges, waiving, etc.
– Unapplied Funds – must identify purpose (i.e., Payments, Loss Draft) – –
Statements will be changed with the 2013.2 release
Format and information dictated by Dodd-Frank Finalized in October 2012
Visit FIS Client Portal MISER Product Management – Reg Z Forum 70
CLOSED-END REGULATION Z CHANGES PREPARATION
INDEX DESCRIPTION – REQUIRED FOR ARM NOTICES •
Added ability to set up index description in GNDS- dataset
– – GNDS-KEY-1 = Applicable application for index code GNDS-KEY-2 = Index number – GNDS-USE-CODE = 14 (rate index description (new value) – – GNDS-SIZE = 180 GNDS-DATA = Index description (up to and including 180 characters) • Sub-bullet • Sub-bullet •
Setup available using Rate Index Main Menu
– Added radio buttons • • Create/Update Expanded Index Description Delete Expanded Index Description • • •
Description only required if client is using new adjustable-rate notice Setup/maintenance/delete included on MSD008 (Special Association Transactions) Description included on LNM211 – Rate Changes report where the indexes processed are listed.
71
Closed-End Regulation Z Changes Preparation
LATE CHARGE ACTIVITY – NO LONGER FILE MAINTENANCE ACTIVITY • •
WXGL Changes
– New late charge receivable WXGLs • WXGL 609 – ML LATE CHG RCV • WXGL 610 – IL-LATE CHG RCV • WXGL 611 – OL LATE CHG RCV • WXGL 612 – CL LATE CHG RCV • Sub-bullet – Still utilizing existing late charge income WXGLs
Transaction Changes to generate late charge history record where appropriate
– – Eliminated file maintenance access Every monetary transaction • All payment transactions including error-correct and reversals • • New transactions to access, waive, refund late charges – • Some file maintenance transactions Delete Billing Records • Late charge assessment transaction performed by LNM210 Renew a Loan
72
Closed-End Regulation Z Changes Preparation
UNAPPLIED PAYMENTS •
L-UNAP-PMTS
– Sub-amount of L-UNAP-BAL • •
Unapplied amounts associated with excess payment will update L-UNAP-BAL and L UNAP-PMTS
– LNM250 will update both fields when payments are made from unapplied
Added a non-payment amount indicator to unapplied specific transactions
– Non-payment amounts will only update L-UNAP-BAL
73
ARM Notice Changes
INITIAL ADJUSTABLE NOTICE
• • •
Initial Notice Required 180-240 Days Prior to Initial Rate Change LNM215 Print Files
– – Split between initial Reg Z notice • • • Reg Z initial notice may need additional splits available by card option P& I change Interest only change Payment only change
Notice format reviewed by FIS Compliance
– Functional specification provided for variables within notice 75
INITIAL ADJUSTABLE NOTICE
•
Daily simple interest accounts payment split disclosed
– How should rate/payment comparison table disclose payment amount on a daily simple interest account?
Split shown as of due date based on current principal balance P&I as a single payment amount 76
Initial Adjustable Notice
–
Property address will not be included on Reg Z notice
– •
Card Option Provided for number of days prior to the change date to produce the initial adjustable notice – Default 240 Days Bankruptcy statement
77
STANDARD ADJUSTABLE NOTICE
•
LNM215 Print Files
– Split between non-Reg Z and Reg Z – • • • Reg Z notice may need additional splits available by card option P& I change Interest only change Payment only change •
Notice format reviewed by FIS Compliance
– Functional specification provided for variables within notice 78
STANDARD ADJUSTABLE NOTICE
•
Daily simple interest account payment split disclosure
– How should rate/payment comparison table disclose payment amount on a daily simple interest account?
Split shown as of due date based on current principal balance P&I as a single payment amount 79
STANDARD ADJUSTABLE NOTICE
• •
Property address will not be included on Reg Z statement Bankruptcy statement
80
Periodic Statement Changes
PERIODIC STATEMENT SAMPLE
82
REG Z – PERIODIC STATEMENT REQUIREMENTS
–
Requires several disclosures to be provided in close proximity to one another (grouped together and set off from the other groupings of items)
• • Presenting information in boxes Arranging the items on the document and including spacing between the groupings • Items in close proximity many not have any intervening text between them • – –
Clear and conspicuous standard
Requires that disclosures be in a reasonably understandable form – Do not prohibit adding to the required disclosures, as long as the additional information does not overwhelm or obscure the required disclosure
Delivery requirements
– Requires that the periodic statement be delivered or placed in the mail no later than a reasonably prompt time after the payment due date or the end of any courtesy period – Delivering, emailing or placing the periodic statement in the mail within four days of close of the courtesy period of the previous billing cycle generally would be considered reasonably prompt
83
REG Z – PERIODIC STATEMENT REQUIREMENTS
•
Items required to be on the first page of the statement
— Amount Due - located at the top of the first page of the statement — Explanation of Amount Due — Past Payment Breakdown — Contact Information •
Items required to be on the first page of the statement or, alternatively, may be included on a separate page enclosed with the periodic statement
— Partial payment information — Delinquency Information o Only if the consumer is more than 45 days delinquent o Would include loss mitigation and/or foreclosure statements, if applicable •
Placement not specified
— Transaction Activity — Account Information
84
REG Z - PERIODIC STATEMENT SAMPLE
•
Delinquency Notice
– – Loss Mitigation statement Foreclosure statement 85
Contact Information Account Information Transaction Activity for Period Past Payment Breakdown Message Amount Due Explanation of Amount Due 86
Reg Z Periodic Statement – Questions Answered
•
How should outstanding late charges be disclosed?
Outstanding late charges would be disclosed in the “Explanation of Amount Due” on the first page of the statement. The requirements of this section for the periodic statement is to disclose
“[t}he total sum of any fees or charges imposed since the last statement; and any payment amount past due.”
87
Reg Z Periodic Statement – Questions Answered
• •
What should the Amount Due disclose on a prepaid account?
― ― Current due date, next regular payment, late charge information based on due date?
Current due date, nothing due and no late charge information?
Are fees, other than late charges, that are assess on the account, but not due and payable until payoff of the loan to be included in the account activity portion of the statement?
These fees would not be included until they are due, which in the case you describe at payoff. The commentary to Section 1026.41(d)(4)-1 states:
41(d)(4) Transaction Activity.
1.
Meaning.
Transaction activity includes any transaction that credits or debits the amount currently due. This is the same amount that is required to be disclosure under § 1026.41(d)(1)(iii).
88
Reg Z Periodic Statement – Questions Answered
•
If the account has an automatic transfer record or payroll deduction, can we include a statement to that effect on the periodic statement?
Yes, the Commentary to Section 1026.41(c) states the following (emphasis added): 1.
Clear and conspicuous standard
.
The “clear and conspicuous” standard generally requires that disclosures be in a reasonably understandable form. Except where otherwise provided
, the standard does not prohibit adding to the required disclosures, as long as the additional information does not overwhelm or obscure the required disclosures.
For example, while certain information about the escrow account (such as the account balance) is not required on the periodic statement, this information may be included. 2.
Additional information; disclosures required by other laws
.
Nothing in § 1026.41 prohibits a servicer from including additional information or combining disclosures required by other laws with the disclosures required by this subpart, unless such prohibition is expressly set forth in this subpart, or other applicable law.
89
Reg Z Periodic Statement – Questions Answered
•
If the borrower is in an active bankruptcy status, is the periodic statement still required to be supplied? If yes, can we include this verbiage under Important Messages?
The direction from the Bureau was that they understand that certain laws, such as the FDCPA or the Bankruptcy Code, may prevent attempts to collect a debt from a consumer in bankruptcy, but does not believe that these laws prevent a servicer from sending a consumer statement on the status of their loan. Servicers are allowed to make changes to the statement as they believe are necessary when a consumer is in bankruptcy; and may include a message about the bankruptcy and alternatively present the amount due to reflect the payment obligations determined by the individual bankruptcy proceeding. Suggested language from the Bureau:
“To the extent your original obligation was discharged, or is subject to an automatic stay of bankruptcy under Title 11 of the United States Code, this statement is for compliance and/or informational purposes only and does not constitute an attempt to collect a debt or to impose personal liability for such obligation. However, Creditor retains rights under its security instrument, including the right to foreclose its lien.”
90
Periodic Statement – Loss Mitigation Statement
•
The Loss Mitigation statement will be dynamic depending on options set on the account.
– If the account is not in bankruptcy (L-BANKRUPTCY-CODE = 0) and a payment plan is in effect, L-PAYMENT-PLAN = 2, include the following verbiage on the statement.
–
This account is currently has a specified payment plan to assist you in bringing your account current.
If the account is not in bankruptcy (L-BANKRUPTCY-CODE = 0 and a modification (MOD-) record exists (L-TRLR-FLG-3 = 4, 5, 6 or 7), review all the MOD- records on the account and locate the record where MOD-EFF-DT is the greatest. Include the following verbiage on the statement.
This account was modified effective with the (MOD-FIRST-PMT).
91
Periodic Statement – Foreclosure Process Statement
•
The Foreclosure statement will be dynamic depending on the options set on the account.
– If L-FORECLOSURE-STEP = 2 (foreclosure initiated) include the following verbiage on the statement.
The required steps to begin the foreclosure process have been initiated on this account
.
92
Transaction Descr iptions
•
Standard descriptions
93
Periodic Statement Production
• •
LNFP/LNM216 card 1
– • • Statement format code option (column 19) Format code 1, 3, 6, or 8 will print in new format if L-REGZ-STMT = 3 • • Format code 9 will print all selected accounts in the open-end Reg Z format If L-REGZ-STMT = 1 or 2, an open-end Reg Z formatted statement will be produced If L-REGZ-STMT = 3, a closed-end Reg Z formatted statement will be produced – – Contact telephone number (column 20 -29) does not apply to the closed-end Reg Z statement Payment due date selection will remain unchanged – Sort options will remain unchanged within each individual file – – Print totals option (column 56) does not apply to the closed-end Reg Z statement Cancel out error-corrections option (column 57) will apply – – Print report option remains unchanged Print property address option (column 59) does not apply to closed-end Reg Z statement – Payment plan option (column 66) will not apply to closed-end Reg Z statement. Automatically used for production
LNFP/LNM216 card 2 – 4 will remain unchanged
94
Periodic Statement Production
•
MRD007/MRD009
– Support for combined and stand-alone statements – Card 1 – CRD/MRD007 o o o Substitute 1098 option (column 21) – not applicable Loan detail option (column 23) – not applicable. Will always include loan detail Loan heading option (column 24) – not applicable o o Line of Credit late fee message option (column 41) – not applicable. Will always include statement Reg Z statement format will not be available for Statement Format (MRD008) 95
The Winner of an iPad Mini is holding ticket number: X X X X X X
THANK YOU
Lenn Freeman Jackie Roberts
, 407-551-8759 [email protected]
, 407-659-3231