PAM for Mortgages Increases Reporting Capabilities
In addition to new functionality for the 2nd and 4th quarter releases of PAM for Mortgages scheduled for this year we are excited to announce a significant addition to the reporting capabilities within our product. By the end of this year the reports in PAM for Mortgages will be fully developed with Stimulsoft. This is a great addition for our clients as it will not only allow them to save these reports in several formats but will also allow them to export this information in extract format for further analysis. The Stimulsoft tool is an extremely robust reporting and extracting tool that will allow users to easily create copies of existing reports and enhance them for their specific needs. With the proper training clients can also build their own reports and can link the PAM for Mortgages data with their own information to create cohesive reports. Stimulsoft training is offered in several ways and can be tailored to each client’s needs. We are excited to take the next step with this robust product. A step that will allow our users greater access to their data for whatever needs they may have.
PAM for UVT 2014 Enriches Functionality
The PAM for UVT 2014 release has been shipped and included in this year’s release are several new and exciting features. These features include items such as Automated Reconciliations with Trade Execution, Dividend Reinvestment Schedules, Corrections Accounting, Revenue Sharing, and configurable Precision for Unit Value calculations, Multiple Dividend Calculation Methods, and the ability to process orders with multiple participants within the same cycle. This release also contains a new accounting sub-system boasting financial reporting on several levels with the flexibility to determine content based on your needs.
For more information, click here.
US Insurance Regulatory News
The National Association of Insurance Commissioners (NAIC) fall meeting was held December 15-18th in Washington D.C. Highlights for insurance investment accounting include new Working Capital Finance Investments (WCFI) accounting guidance adopted by the Statutory Accounting Principles Working Group (SAPWG), along with instructions and illustrations for new disclosures to Note 5 adopted by the Blanks Working Group (BWG).
The SAPWG also announced a project to review all investment Statutory Statements of Accounting Principle (SSAP) with new SSAPs and possibly new reporting schedules being added. This would be a long term project and the staff would also consider referrals from the Valuation of Securities Task Force (VOSTF). The VOSTF adopted a report from the Invested Asset Working Group (IAWG) on mortgage referenced securities, including Structured Agency Credit Risk (STACR). Due to additional risk posed by the STACR investments, they are not considered under the governmental filing exemption and must be filed with the Securities Valuation Office (SVO) for year end 2013. The IAWG will conduct additional review of these investments in 2014.
For additional information and updates from the meeting, please Click here to read.