Credit Stress Analytics©; Stress Testing For All!
Not so long ago, FIMAC Solutions brought CRE Stress Analytics to the marketplace. The success of CRE inspiried Construction Stress Analytics and then C&I Stress Analytics. Now, FIMAC Solutions has brought them all together in one amazingly powerful offering: Credit Stress Analytics. Credit Stress Analytics offers clients a choice of one, two, or all three of the stress testing modules in one place.
Credit Stress Analytics offers some of the most powerful and flexible tools in the marketplace for stress testing anything from individual loans to complete portfolios; literally, at the click of a button. Users are able to select from an extremely wide range of variable, far too many to list here, in order to best reflect any desired study of the loan portfolio. Reports are available that provide clear information for the Lending Staff, Management, Board, and Regulators/Examiners. While this is a phenomenal tool for keepying an eye on your institution's loan portfolios, it can also be utilized at application to find any deficiencies that may exist in the borrower's ability to repay. Credit Stress Analytics, from beginning to end, is one of the most powerful stress testing models available today. Call to setup a demonstration.
FIMAC Solutions Plans Release of Portfolio Accounting Analytics©™
New model to offer bankers the ease of a SaaS platform backed by 40 years of bond accounting experience
Denver, Colo. – May 2, 2011 – In another industry first, FIMAC Solutions, leader in providing risk analytics software for banks, credit unions, thrifts and other financial institutions, announced today that it has created an SaaS (Software as a Service) application— Portfolio Accounting Analytics©™—to replace its 40-year industry workhorse The Deats Report. The firm expects to release the new platform to the marketplace in July 2011.
Accepted by regulators and independent auditors for four decades, the current model, The Deats Report, provides live independent market pricing and embedded cash flows for all debt securities in the institution’s fixed income portfolio. FIMAC Solutions acquired The Deats Report in 2009, and has provided monthly accounting data to financial institutions and other institutional investors on a service bureau basis. By introducing a new cloud-based model, FIMAC Solutions for the first time enables bond accounting to be integrated with its flagship Risk Analytics® ALM Model©, as both utilize the same instrument level investment data.
“The SaaS delivery format assures affordable pricing and extreme ease of use for bankers, and like all FIMACMountain products, it comes with FIMAC Solutions’ unparalleled customer service and user support,” said Eric Struble, Product Manager for FIMACMountain’s Portfolio Accounting Analytics.
FIMACMountain Portfolio Accounting Analytics©™ - Software Capabilities
- Automatic tracking of U.S. Government Agency and municipal calls as available
- Complete monthly amortization and accrual results
- Automated export capabilities to any General Ledger system
- Factors and prices of Pools, CMOs, and Asset-Backed from recognized independent data providers automatically embedded with user without involvement
- Automatic reviews of municipal and corporate issues for calls, step-ups, etc.
- Rate shock analysis
- Clients generate their own chosen custom reports
- Simplified month-end posting and balancing
- Electronic data files for tie-ins to FIMACMountain Risk Analytics® ALM Model©
- Independent market values from leading national and international data providers
- Comprehensive, yet intuitive and very easy to use
“FIMACMountain’s Portfolio Accounting Analytics©™ is a very exciting upcoming release for us and our clients,” said Greg Doner, FIMAC Solutions CEO. “This model enables our clients to utilize our FIMACMountain suite of products to reduce their expenses by eliminating the need to hire third parties to provide accounting and portfolio-wide analysis.”
Further information about FIMACMountain’s Portfolio Accounting Analytics©™ is available at www.FimacSolutions.com or by calling Eric Struble at (877) 322-1880.
FIMAC SOLUTIONS ADDS SERVICE BUREAU OPTION TO ITS CRE STRESS ANALYTICS© OFFERING
Smaller Banks And Financial Institutions Can Now Benefit From Its Comprehensive Suite Of Services To Meet Regulatory Compliance
DENVER (Dec, 2009) – Building on its growing legacy of rock solid financial analytics and sound risk management, FIMAC Solutions announced it has added a Service Bureau to its Commercial Real Estate (CRE) and Construction Stress Analytics © platforms.
FIMAC Solutions, LLC, is one of the country’s leading providers of banking software focused on risk management and profitability solutions and an innovator in the areas of CRE and construction stress analytics. Its CRE Stress Analytics© is part of the FIMACMountain™ suite of services and is an affordable, user-friendly tool that helps banks and financial institutions fulfill regulatory requirements and mitigate against losses.
Over the last few years, the FDIC has placed a strong emphasis on commercial real estate workouts and risk management. Knowing that proper stress testing is an integral part of CRE loan and portfolio management and any CRE loan workout plan, FIMAC Solutions was the first to market (July 2008) with its CRE Stress Analytics model. The introduction of the Service Bureau option will provide small community banks and other financial institutions with the benefits of using a comprehensive stress testing model, without the normal time commitment necessary to run such a model. The introduction of the Service Bureau option will provide small community banks and other financial institutions with the benefits of using a comprehensive stress testing model, without the normal time commitment necessary to run such a model.
FIMAC Solution’s CRE Stress Analytics is robust software that meets all CRE stress testing requirements and calculates loan to value and debt service coverage ratios, collateral value and potential loss when vacancy rates, interest rates and/or cap rates are stressed in moderate and severe scenarios. The model provides financial institutions the ability to quickly project the performance of one loan, a group of loans or a complete CRE loan portfolio.
Randall Corwin, senior vice president of FIMAC Solutions, said that the company chose to add the Service Bureau with an eye toward helping smaller financial institutions adapt to the ever-changing and turbulent commercial real estate landscape. “Commercial property values have fallen 37% since 2007. Throughout the industry, there are higher incidences of defaults and delinquencies on commercial real estate loans. Stress testing looks at so many factors and can help predict problems with loans within a portfolio before they become problems, allowing our clients to stay ahead of the game,” he said. With the FDIC’s recent emphasis on CRE loan workouts, a good stress testing model is even more necessary for successful loan risk management.
Financial Institutions using the Service Bureau simply fill out the CRE template spreadsheet, submit it to FIMAC Solutions and a detailed set of reports are returned within three business days.
“Clients can choose their own stress parameters for both a moderate and severe stress scenario,” Eric Struble, FIMAC Solutions’ project manager, said. “These parameters can be applied globally, by sector or by individual loan. We feel this flexibility is necessary, as every financial institution has its own unique set of market conditions affecting the performance of its CRE loan portfolio.
“The Service Bureau approach takes the stress out of stress testing and gives smaller institutions looking for ways to be in compliance all the advantages and powerful analytics of the Stress Analytics model without the cost and time commitment of running and maintaining the model themselves,” he added.
FIMAC SOLUTIONS, LLC, ANNOUNCES NEW DIVISION: PORTFOLIO EVALUATION CORP.
Bond Accounting Data Integration Will Now Be Offered to Customer Base
DENVER – (Oct., 2009) – FIMAC Solutions, LLC, announced today that it has added a new division and expanded its FIMACMountain suite of products by the integration of The Deats Report, an investment accounting model.
FIMAC Solutions, LLC, based in Denver, is one of the country’s leading providers of banking software focused on risk management and profitability solutions and an innovator in the area of CRE Stress Analytics and Construction Stress Analytics. The new division, Portfolio Evaluation, Corp. (PEC) will incorporate the management and accounting software used by The Deats Report, allowing banks to rely on third party accounting of their bond portfolios.
“Every financial institution must determine the fair value of their assets. But, the problem is that they are pulling data from different models so very often there are discrepancies in the information from one model to the next,” Greg Doner, founder and CEO of FIMAC, said. “By creating a fully integrated suite of risk management products, we are insuring that our customers have consistent results thereby providing the ability to make forward looking decisions with confidence and accuracy.
“This new division allows us to combine our services and offer more to our customer base,” Doner added. “Portfolio Evaluation Corp. provides ‘The Deats Report’ adding yet another solution to our rock solid financial analytic offerings.”
Tom Deats, President of the new Portfolio Evaluation Corp, also in Denver, Colo., says, “This is a win-win situation for us and for our clients. This allows the FIMACMountain suite to offer investment accounting that integrates FIMAC’s Risk Analytics ALM Model, and it allows The Deats Report users easy access to the FIMACMountain suite of products. It’s really one-stop shopping.
FIMAC SOLUTIONS LAUNCHES NEWEST ADDITION TO THE FIMAC MOUNTAIN SUITE WITH A CONSTRUCTION AND DEVELOPMENT LOAN STRESS ANALYTICS MODEL
Stress the performance of Construction and Development Loans accurately at any point during the loan’s term from underwriting through payoff.
DENVER (Sept. 10, 2009) – FIMAC Solutions, LLC, announced today that it has released the newest addition to its FIMAC Mountain suite of products - Construction Stress Analytics; the most accurate commercially available model for construction and development loan stress testing in the marketplace.
FIMAC Solutions, LLC, based in Denver, is one of the country’s leading providers of banking software focused on risk management and profitability solutions and an innovator in the area of CRE and construction stress analytics.
FIMAC’s David Hynds, a former construction lender, says that “Due to the large number of moving parts associated with construction stress testing, accurately stress testing such loans has been non-existent to this point. This is a ‘live action’ model, it’s up-to-the-minute and current. It asks and predicts all the possible changes and stress points that can impact a loan throughout its life and it meets and exceeds all known regulatory requirements.”
The model works for a single home, large land and housing developments, condominium complexes, office buildings, and more.
“This dynamic new model for stress testing construction/development loans integrates all the key elements suggested by the Federal Reserve along with variables intrinsic to this type of lending. Our construction stress analytics provide instant results to complex loans and delivers the output in easy-to-use reports,” Hynds explained.
Put simply, FIMAC’s new Construction Stress Analytics model analyzes how a commercial construction or development project may perform over the life of the project under stress. Focusing on eight key factors of stress, the program estimates loan interest payments, along with Loan to Values and loan payout dates, to provide highly accurate results. Stress ratings set by the user insure that Interest Reserve capacity is sufficient to cover the interest payments. The ability of the project to generate sufficient cash flow for total repayment is also analyzed by the program. Users are able to stress test individual loans on numerous factors specific to construction lending, including interest rates, absorption rates, project timing and repayment structure. A fluid model, it easily handles the stress factors that may occur in construction lending, and provides immediate information to the user.
Building from similar technology used in the powerful FIMAC Solutions’ CRE Stress Analytics model for Commercial Real Estate stress testing, Construction Stress Analytics also gives the user the ability to stress test the entire portfolio, or portions thereof using its advanced filtering tools. Different sectors of loans can be stressed at different levels, based on varying local and market-wide factors.
“This newest addition to our FIMAC Mountain suite is going to be invaluable to just about everyone involved with the process,” said Greg Doner, founder and president of FIMAC Solutions. “Loan managers can now look into the future, input possible changes and ask, ‘what if?’; senior lenders can see and evaluate an entire portfolio. There is no guess work. It is accurate, predictive and just a click away.”
FIMAC Solutions joins with Suntell in a Joint Marketing Agreement to offer clients to further assist clients with their commercial loan management needs.
Denver, CO – July 2009 – FIMAC Solutions is pleased to announce a marketing affiliation with Suntell and their SquareOne Credit Suite. Suntell has been serving financial institutions across the country for over 13 years.
Suntell’s SquareOne Credit Suite was designed and developed by commercial bankers to meet the need for a more streamlined commercial lending process. User friendly and moderately priced, SquareOne Credit Suite will help centralize all of your crucial loan portfolio management requirements, simplify your agricultural lending, reduce the amount of paper while better organizing loan files, and dramatically improve internal communication during the lending process. You can implement the entire suite, or only the tools that your institution needs. The success and power of the SquareOne Credit Suite is reflected by the placement of more than 140 platforms within Banks and Credit Unions.
For clients of FIMAC Solutions this affiliation is excellent news, as Suntell’s Loan Management System now allows for a nearly seamless interface with our CRE Stress Analytics©. Just push a button in the Loan Management System and the available extracts are ready for import.
So if you need greater efficiency and cost effectiveness in your commercial lending efforts, contact us today at 877-322-1880 for a personal referral to Suntell. We can even arrange a no cost WebEx demo of the Suntell products! At the same time, talk to us about a dual install with CRE Stress Analytics.
We are just introducing our new construction loan stress testing module for CRE Stress Analytics, and are also marketing the module as a standalone software called Construction Stress Analytics©. Both will handle all of your needs, at very affordable pricing. Pricing is based on a loan count basis and number or users, so knowing your CRE and construction/development loan count will help us when you call.
FIMAC Solutions is a proud new Associate Member of the Independent Bankers of Colorado
Denver, CO – July 2009 – FIMAC Solutions is pleased to announce our membership with the Independent Bankers of Colorado (IBC). The IBC is the strongest Colorado banking trade association, representing more than 95 banks, and is dedicated to the enhancement and preservation of America’s unique system of independent banking. By joining the IBC, FIMAC Solutions has made a commitment to keep Colorado’s independent banking community strong and united.
Corporate America Credit Union and FIMAC Reach Agreement to Offer Risk Management and Profitability Solutions to Credit Unions.
Denver, Colo.-October 8, 2008 - Corporate America Credit Union and FIMAC Reach Agreement to Offer Risk Management and Profitability Solutions to Credit Unions.
Corporate America Credit Union (CACU), a state chartered corporate credit union, and FIMAC Solutions, LLC, an experienced developer of risk management and profitability software for credit unions, announced that the two organizations have reached a long-term licensing agreement for the use of FIMAC's Risk Analytics® ALM Model, Balance Sheet Manager, and A/L Reporter by CACU and its member credit unions.
Based in Birmingham, Alabama, CACU has over $1.4 billion in assets, and serves the financial needs of 174 member credit unions. Under the agreement, CACU will use FIMAC's products exclusively for its asset liability management (ALM) and interest rate risk (IRR) needs and will offer the products for use by its member credit unions.
"Corporate America is pleased to be partnering with FIMAC both for our own utilization of their products and for the opportunity to offer these products to credit unions," said Thomas Bonds, President and CEO of Corporate America Credit Union. "We conducted extensive due diligence on a variety of offerings and determined that FIMAC exceeded their competition in ease of use, flexibility, analytics and pricing. FIMAC's products are also structured so that they have an application for all credit unions, regardless of size. We're always seeking services that can assist credit unions in making management decisions and meeting regulatory requirements."
"We're thrilled to add Corporate America Credit Union and their members as users of our products," said Gregory Doner, Chairman and CEO of FIMAC Solutions, LLC. "With the addition of CACU, the business partners utilizing our innovative solutions now include four corporate credit unions and more than 80 natural person credit unions nationwide."
Risk Analytics® ALM Model, Balance Sheet Manager, and A/L Reporter
The Risk Analytics® ALM Model is a dynamic income simulation and net present value asset and liability management model. The ALM Model is a high quality cost-effective solution to address the interest rate risk of financial institutions and satisfies all the major regulatory and accounting requirements. FIMAC uses a "software as a service" (SAAS) format, so the ALM Model, controlled by the user, processes on a central web-based server and does not require the purchase of software.
Balance Sheet Manager (BSM) is a Windows©-based software that provides users with a quick, accurate measurement of the impact management decisions will have on the balance sheet and income statement. BSM allows the user to perform "what-if" scenarios and analysis to determine the impact current earnings, equity value, the risk of interest rate changes to earnings and equity, key liquidity and capital ratios, and compliance with respect to set risk limits.
A/L Reporter, a service bureau approach designed for smaller credit unions, provides asset and liability reporting primarily utilizing data from a credit union's Form 5300 Call Reports and ARIES files.
FIMAC Solutions, LLC
FIMAC Solutions, LLC, provides Creative Analytic Solutions for Depository Institutions. Based in Denver, Colorado, FIMAC specializes in providing credit unions and banks with software focused on risk management and profitability. The Company's flagship product, Risk Analytics® ALM Model, is recognized throughout the industry with approximately 350 placements. For further information, please call FIMAC Solutions at (303) 320-1900, email firstname.lastname@example.org, or visit www.fimacsolutions.com.
Corporate America Credit Union
Corporate America Credit Union, a state chartered corporate credit union with a national field of membership, is a dedicated, not-for-profit financial cooperative. Since inception, Corporate America has served as a source of liquidity, correspondent, investments and related education services. Product and service additions in recent years include revolving demand loans, debit and ATM card services, teller and branch capture and more. Most recently, Corporate America has begun offering our Super 30 account which allows credit unions to earn a higher rate of return while maintaining the short-term liquidity of a share account and free ACH services including origination, receipt and returns. Corporate America operates for the mutual benefit of our membership in serving credit unions daily. For more information on these services or to see our excellent rates, log onto our website at www.corpam.org, call 1-800-292-6242, or e-mail email@example.com.
FIMAC and Mid-Atlantic Corporate Federal Credit Union Reach Agreement to Offer Value-Added Risk Management and Profitability Solutions to Members
Denver, Colo.-September 22, 2008 - FIMAC Solutions, LLC, an experienced developer of risk management and profitability software for credit unions, announced that it has reached an agreement with Mid-Atlantic Corporate Federal Credit Union that will allow Mid-Atlantic to offer FIMAC’s Risk Analytics® ALM Model and Balance Sheet Manager software on a private label basis to its member credit unions.
The ALM Model is a dynamic income simulation and net present value asset and liability management model, while Balance Sheet Manager’s “what if” simulations provide users with a measurement of the impact management decisions will have on the balance sheet and income statement. Mid-Atlantic will combine the output of these model reports with consulting services and other value added analysis.
“FIMAC’s experience with credit unions made this relationship a natural fit for us,” said Jay R. Murray, President & CEO of Mid-Atlantic Corporate Federal Credit Union. “Through this partnership, our member credit unions will receive state-of-the-art software, while maintaining the friendly customer service they have come to expect from Mid-Atlantic Corporate.”
“I am very excited about this relationship. We have known Mid-Atlantic for many years and recognize it as a quality organization dedicated to helping its members,” said Gregory Doner, Chairman and CEO of FIMAC Solutions, LLC. “Our software combined with Mid-Atlantic’s team will provide one of the finest services in the nation.”
For further information about any of these products, please call FIMAC Solutions at (303) 320-1900 or email firstname.lastname@example.org.
Mid-Atlantic Corporate Federal Credit Union is a federally chartered corporate credit union, which provides investment, lending and payment services, including ACH, share draft and electronic bill payment processing, to more than 1,200 credit unions. For additional information regarding Mid-Atlantic Corporate Federal Credit Union, please call 1-800-622-7494 or visit www.midatlanticcorp.org.
FIMAC Solutions, LLC, provides Creative Analytic Solutions for Depository Institutions. Based in Denver, Colorado, FIMAC specializes in providing credit unions and banks with software focused on risk management and profitability solutions. The Company’s flagship product, Risk Analytics® ALM Model, is well recognized throughout the industry with approximately 350 placements. Further information is available at www.fimacsolutions.com
FIMAC Acquires SmartRate Deposit Price Optimization Software
Denver, Colo. – August 5, 2008 – FIMAC Solutions, LLC, an experienced developer of risk management and profitability software for the banking industry, announced that it has reached an agreement with Profitdesk Software Inc. to acquire Profitdesk’s industry-leading SmartRate deposit price optimization software.
Through a licensing relationship with Profitdesk, FIMAC Solutions has marketed SmartRate for the last year under the Deposit Analytics brand name to community-based financial institutions, while Profitdesk marketed under the SmartRate name to larger institutions. FIMAC intends to continue to offer the software to financial institutions of all sizes but has not yet determined if the software will continue to be marketed under the brand name “SmartRate.”
“In the past, deposit pricing has been a strategy based on rudimentary analysis and guesswork,” said former banker Gregory W. Doner, Chairman and CEO of FIMAC Solutions, LLC. “SmartRate has changed the face of the industry and caused traditional practitioners to scramble to attempt to defend their archaic efforts against SmartRate’s quantified decision making information.”
With SmartRate’s deposit price optimization, the correct price is quantified utilizing historic empirical evidence and mutli-variable analysis. Institutions still apply normal pricing considerations, but are operating with a known price base. This pricing methodology can save the average institution 20-30 basis points in cost, over time, as the institution’s true core deposits are identified and grow, while “hot’ money is identified and managed to actual needs.
FIMAC Solutions to Acquire SmartRate
July 16, 2008 – CEO Greg Doner today announced that FIMAC Solutions LLC has reached an agreement with Profitdesk Software Inc. (www.profitdesk.com) to acquire their industry leading SmartRate deposit price optimization software.
FIMAC Offers “Window to the Future” to Bank CFOs and Loan Officers
FIMAC’s Commercial Real Estate Stress Test helps bankers see the red flags before CRE loans become losses
Denver, Colo. - May 1, 2008 - While the nation’s largest banks continue to reel from the sub-prime mortgage collapse, banks coast to coast have another witches’ brew in the making. Since 2000, the joint regulating agencies have been looking at the levels of underlying risk associated with banks’ commercial real estate loan portfolios. In a report released April 14, credit rating agency A.M. Best reiterated that “commercial real estate risk is the leading contributing factor to overall credit risk for mid-size and small banks.”
"Right now too many community bankers are having too hard a time coming to grips with the problems that have emerged in their commercial real estate portfolios,” Comptroller of the Currency John C. Dugan said in a speech last month.
Veteran former banker Gregory W. Doner, Chairman and CEO of FIMAC Solutions LLC, believes commercial real estate loan failures could be the next big pothole in the road for the U.S. economy. Doner’s company has developed a technology-based ‘magic wand’ that the company believes could help banks, savings & loans and other lenders avoid disaster on the commercial real estate side.
FIMAC recently released its widely anticipated CRE Stress Test model, a proprietary state-of-the-art software product that lets loan officers analyze how a commercial real estate project will perform under changing market conditions. The FIMAC stress test helps bankers become more proactive in recognizing if or when a loan could have trouble repaying.
“For the first time lenders have a scientific way to identify problem loans in advance of the problem,” said Doner. “Stressing a bank’s loan portfolio, loan-by-loan and in aggregate, by simulating changes in real world economic factors, allows lenders to identify the breaking points—in advance.”
Loan officers can push the envelope for a loan by subjecting a CRE project to changes in interest rates, capitalization rates, vacancy rates and rental rates. The program, called CRE Stress Analytics, will stress Net Operating Income (NOI), Capitalization Rate, Estimated Collateral Value, Debt Service Coverage (DSC) Ratio and Loan to Value (LTV) Ratio under any combination of economic and market scenarios.
“FIMAC’s CRE Stress Analytics empowers any banker to run a simulation on a single CRE loan or on hundreds of loans simultaneously to see how his or her loan portfolio will perform in different scenarios that simulate changing market conditions during the life of the loans,” said Doner. “If you are a chief loan officer or a bank CFO, this is like having a window to the future.”
Based in Denver, Colorado FIMAC Solutions, LLC, specializes in providing the financial services industry with banking software focusing on risk management and profitability solutions. The Company’s flagship product, Risk Analytics® ALM Model, is well recognized throughout the industry with approximately 350 placements. Further information is available at www.fimacsolutions.com.
Introducing Commercial Real Estate Stress Testing
We are set to introduce our new CRE Stress Analytics model at our Annual Meeting this May 14-16. This industry leading model will be the Best Practice standard for all commercial real estate lending in community banks. For more information contact Randall Corwin at 877-789-5905, Ext. 739 or email@example.com