Loan Accounting Systems

Cornerstone, our loan accounting system, enables our customers to better and more effectively serve their retail customers. The following solutions are included with Cornerstone:

  • Cornerstone
  • Related Services Systems (RSS)
  • Bank Balancing (BB)
  • Government Reporting (CTR)
  • Customer Commitments
  • Customer Service System (KS)
  • Transaction Gathering (TG)

 

The products can be purchased individually or in combination to best suit your business needs.

Service Value and Key Benefits

  • Flexibility in selecting solutions that meet the needs of your business
  • Fully integrated system interfaces that provide internal controls and processing efficiencies
  • Access to knowledgeable SunStream staff
  • User support, including system support, balancing support and problem resolution via multiple access points
  • Ongoing quality assurance support for all systems

Detailed Description

Mainframe Systems

  • Cornerstone/Credit Line - Cornerstone interfaces with various systems such as Transaction Gathering (TG), Bank Balancing (BB), Government Reporting (CTR), Customer Service (KS), Mobius and the interface to general ledger (GL)
  • TG gathers and edits transactions from other systems to send to Cornerstone
  • BB is a tool for reconciling branch cash receipts, disbursements and assisting with the depository bank reconciliation process. Check and receipt history is also stored in BB
  • CTR creates tax reporting information for both the IRS and the customer
  • Mobius is a report distribution tool. This tool distributes reports from all of the above systems to customer locations
  • Customer Commitments allows for the tracking of commitment information on commercial loans at the customer level. This process automates aspects of participation loan accounting
  • RSS allows for the set-up and billing of all related service products including life insurance, crop insurance, and tax and records. This product includes the automated interfaces to and from insurance companies, the general ledger and daily, monthly and annual reports
  • KS assists in the monitoring and servicing of loans with structured servicing plans

Standard Functionality

  • Daily distributed processing and transmission interfaces to mainframe systems, including third-party interfaces
  • Daily, monthly, quarterly and yearly processing including transaction posting, interest accrual and reporting
  • Automated interface with internal systems and external third parties (banks, insurance companies, etc.)
  • Creation of customer communications including bills, late notices, rate notice disclosures and statements
  • Automated participation loan accounting
  • Automated tracking of customer commitments
  • Systems support via telephone (Service Desk), email and online documentation
    • On-site support – Monday through Friday 7:00 a.m. - 5:00 p.m. Central time
  • Quality assurance testing for problems
  • Audit/regulatory system compliance for all systems that are a part of this service
  • Balancing and internal controls
  • Loan accounting support for the following activities:
    • Credit line
    • E-business
    • Lockbox/ART payment remittance
    • Participation loans
    • Tax information returns (1098, 1099)
    • Non-performing loans

Business Service Manager

Scott Malm

Manager, Loan Accounting

(651) 282-8728

Scott.Malm@sunstreamservices.com