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SOP 03-3 / ASC 310-30

Evolv SOP 03-3 module handles the accounting for loans acquired in a transfer from either a business acquisition under FAS 141R, third party bulk purchase, or investor repurchase. The initial accretable yield including the accretable amount and non-accretable amount are calculated and an accretion schedule is stored and can be viewed via the web interface offering complete transparency into the accretion of the fair value adjustment based on a level yield calculation. The loans are evaluated for subsequent impairments based on any changes in cash flow expectations for the loans. The module includes the required disclosure requirements such as a rollforward for the accretable difference including any reclassifications between the non-accretable and accretable amounts.

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FAS 114 / ASC 310-40

Evolv 114 module can measure the impairment for impaired loans based on 1) the present value of expected cash flows discounted at the original loan effective yield, 2) an observable market price and 3) a collateral dependent value versus the recorded investment of the loan. The impairments are maintained at a loan level and subsequent recognition of cash payments can be accounted for under the cost recovery or cash basis method depending on the company's accounting policy.

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FAS 141R / ASC 805

As the banking industry goes through rapid change and turmoil many institutions can now, more then ever, utilize a mergers and acquisitions strategy to drive stakeholder value. In order to take advantage of this opportunity firms have to remain cognizant of the operational and accounting challenges that arise under the new Financial Accounting Standards 141R and 160, issued by the FASB in December 2007, taking affect in periods after Dec 15 2008. The revised standard further extends the fair value concepts and will require measuring and recognizing the business at full acquisition-date fair value. For companies acquiring companies with loan portfolios, this will introduce a fair value adjustment at the loan level. This fair value adjustment will have subsequent accounting implications post acquisition date.

For HFS loan populations Evolv keeps all cost basis adjustment at the lowest loan level for the SFAS 65 defined LOCOM process. This systems supports LOCOM either using the aggregate method or by marking individual loans (i.e. disaggregate method) and various LOCOM groups such as committed versus non-committed and/or by various product types. In addition, it also supports loan intent re-designations either from HFS to HFI or from HFI to HFS and applies the appropriate accounting treatment systematically.

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FAS 91 / ASC 310-20

Evolv FAS 91 module handles the deferral of non-refundable loan origination fees/costs and purchase premiums/discounts and performs level yield contractual amortization at the loan level. The amortization schedule is stored and can be viewed via the web interface offering complete transparency in the level yield calculation.

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Reporting and Dashboards

Primatics "Evolv" Loan Accounting platform provides a full suite of integrated accounting processes and functions that meet the current and future needs of financial institutions. Compared to many existing products that focus on providing a specific solution or cater to a particular loan product type, Evolv allows users to centralize loan accounting processes into one integrated application, thus providing greatly improved process control, efficiency and ease of analysis.

See the demonstration.