As a part of the mortgageHUB 2015-R1 release, available to clients on March 12, 2015, TAO Solutions is pleased to announce the inclusion of extensive covered bond functionality. This represents a major milestone for the mortgageHUB product and will greatly assist issuing institutions with both their contractual and legislative programs.

Covered bond capabilities are being implemented into mortgageHUB in two distinct phases, with this release featuring the initial items. Highlights of the functionality being released include:

  • Support for simultaneous contractual and legislative programs
  • Define all static and dynamic data elements associated with a covered bond program
  • Define and enforce collateral asset eligibility requirements
  • Use Opti-Pool to algorithmically build initial and top-up pools
  • Define and maintain liability funding notes with custom cash flow capabilities
  • Custom asset coverage test calculations (ACT)
  • Execute monthly administration processing and instantly generate monthly investor reporting including ACT, NPV and market index adjusted values, as well as portfolio stratification data.
  • Historically archive and access all data for future audit discovery
  • Create collateral asset pool rating agency extracts

The second phase of the implementation will include more flexible ACT customization, journal accounting of all cash flows within a program, and more extensive reporting and analysis. This next set of covered bond functionality is scheduled to be delivered in the mortgageHUB 2015-R2 release set for June 2015.

For more information on this feature, or any of the new functionality made available in the mortgageHUB 2015-R1 release, please contact us today.