description: tags: vol6-1

8/14/2019 description: tags: Vol6-1

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Financial Partners - 2005Entering School and Lender Reviews by Guaranty Agencies

Audit and Default Information

Training Guide/Manual

Volume VI January 2006

Part I

U.S. Department of Education Federal Student Aid

(VISIT OUR WEBPAGE @ www.ed.gov/offices/OSFAP/PEPS)

(The information in this guide is fictitious and was created for training purposes.)


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Table of ContentsVolume VI, Part 1

Financial Partners Module

WHATS NEW Recent Changes to the System 3

REVIEWS Review Query 4Review Detail 19Review Deficiency Query 28Review Deficiency Detail 35

AUDITS Audit Query 39Audit Detail 49

Lender Audit Tracking Query50

Lender Audit Tracking Detail 56Lender Servicer Audit Tracking 60GA Servicer Audit Tracking 60Exceptional Performer Audit Tracking 60

Audit Deficiency Query 61Audit Deficiency Detail 67

ACTIONS Action Query 68Action Detail 72

APPEALS Appeal Query 74Appeal Detail 78

DEFAULT INFORMATION GA Default Rates 80Lender Default Rates 86


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Whats New

Servicer review records has a new feature that allows you to record

those lenders that are reviewed at the servicer more easily. See Part 1,

page 26 for further details.

Exceptional Performer Designation quarterly audits are being

tracked and recorded in the Audit section. That section starts on Part 1,page 39.

Exceptional Performer Designation is now recorded on the entitys

detail screen. See Part 2, page 94 and 103 for further details.

New scope codes have been added to capture reviews done as part of

the exceptional performer designation and the CRI initiative. SeeAppendix D for a list of scope codes.

Appendix D has field definitions for program review records and a list

of points to remember.


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Review Query: To view data on program reviews that have been conducted on

Lenders, Servicers, and Schools (only Guarantor reviews of Schools), From the

main menu bar choose More/Financial Partners/Reviews/Review Query.

REVIEWS


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The PEPS Tool Bar used within the Financial Partners module is similar to the

Tool Bar used throughout PEPS.


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This screen is used to get a list of reviews that have been conducted. You will be able to

see all records created by all guarantors and the Departments reviews of lenders. We will

be viewing the dummy records that have been developed for the guarantor 611. Enter611

in the GA column and select the Magnifying Glass from your Tool Bar.

Note: It is NOT recommended to click on the Magnifying Glass without entering

criteria to search from. Doing so would retrieve almost 20,000 records and cause the

PEPS system to slow down significantly.


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All records matching the selection criteria will be displayed. This first screen

contains information on the year and quarter in which the review was conducted. The

organization that performed the review, the entity being reviewed and scope related

to the review. Notice that there is one review that is listed multiple times (Kingsley

State Bank) because it had multiple scopes. Using the Horizontal Scroll Bar you

can read the additional text that is located to the right of the screen.

Shortcutbuttons to

view or

update (if

user has

access) more

detailedinformation

on a record


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The second screen of review data contains information on the entitys ID, name,

city, state and related date information. Continue to scroll to the right.

Upcoming reviews can be input in the system. It is important that everyone

input their scheduled reviews so that multiple organizations that plan to review

the same entity can consider performing joint or CRI reviews to help eliminate

redundancy. This is important to the success of the review process.


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The third screen provides information on dates relating to the review, the reviewer

that performed the review, the level of the violations, and what type of review was

performed. Continue to scroll.


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The forth screen provides information on who updated this record, and the date it

was updated. To view the detail of the last review listed in this query, make sure

the last record is highlighted and select the Detail shortcut button at the bottom

of the screen.


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This is the detail information of the selected review from the query screen. You can

Create, Read, Update, and Delete (CRUD) information that relates to reviews conducted

by your Guaranty Agency, as well as, read information on reviews conducted by other

Guarantors and the Department.

Shortcut buttonsto view:

deficiencies, the

main info. of a

group of lenders

that are related;

their totalportfolio; the

deficiency

information

related to this

review; and to

print a coversheet for this

record.

Used when populating the lenders reviewed on a Servicer review. Please

refer to page 26 for more information.


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If you notice this lender has an Assoc Cd (short for Association Code). That

means it is a part of a group of lender numbers that make up an organization.

Many lenders use multiple lender IDs. Mergers and acquisitions among lenders

are tracked in PEPS. Select the Main button.


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This screen shows the main name and the main location for the associated

group of lenders. If the lender does not have an Assoc Cd listed, this screen

will be blank. Select the Red Door button to go back to the detail record

and select the Assoc Rollupbutton.


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This screen shows the portfolio for the entire group of lender numbers rolled up into

quarters in the same year that the review was conducted. A message will display if the

lender has no other associated lenders or does not have portfolio for the review year.

More information is in Volume VI, Part 2 under Entity Maintenance/Lender Portfolio.

Select the Red Door to go back to the detail record.


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Select the Deficienciesbutton from the detail record and it will take you to this

screen. The deficiency screen provides information on assessed and paid liabilities and

their status. You can CRUD information on reviews conducted by your agency and

read information on all others. To view the amount assessed you would first click in the

line you want to view and select the Assessmentsbutton.

Note: There are alternate ways to access this screen by selecting Deficiencies in the

Review Query screen or by choosing More/Financial Partners/Reviews/Review

Deficiency Detail.


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The Assessed Obligation screen shows how much liability was identified and

assessed against the lender or school in the program review report. The effective

date is usually the same as the date the report was issued. If the amount has not

been determined at the time the report is issued, this screen will remain blank.

Select the OK button to go back to the deficiency screen and then select the

Payments button.


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The Paid Obligations screen provides information on the type of organization

making the payment, how the payment was made, type of obligation being paid,

amount and effective date of payment. Select the OK button to exit and the red

door icon on the next three screens to return to the main menu.


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Review Detail: To create or update records it is easiest to go directly to the

Review Detail by choosing More/Financial Partners/Reviews/Review

Detail.


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To create a new record press the Open Book then enter an OPE ID and tab or

press enter. If the lender has reviews it will display a list to choose from or cancel to

start a new record. If starting a new record, click in the Review Dt field and

complete as many of the items within the squares as you can. Once finished, to enter

another record simply press the Open Book again and follow the steps above.

Note: See Appendix D for a list of field definitions for those fields within the squares.


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Once completed, select the Diskette icon to save this record. The message at

the bottom should read that the record has been saved. The Seq# will be

populated once this record has been saved. To enter the assessed deficiencies

associated with this review, select Deficiencies.


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Click in the Defic column and enter a valid deficiency code. The default option of

open status should remain open until that deficiency has been resolved and paid.

Click into the Defic column on the second row and enter another valid deficiency

code. To enter an assessed amount associated with one of the codes, make sure

the cursor is on the correct line and click the Assessment button.


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For a liability assessment that is due from the school, click on the Org Type LOV

and choose School. Tab or click to Assessed Amt Type LOV and choose Liability.

Tab or click to Assessed Amt and type an amount. Tab or click to Effective Date

and enter a date. The date is normally the same as the Report Issue Date which is

usually when the assessment is made. Click in the Assessed Amt column toadd

additional rows. Click on OK to exit and save.


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Add a new deficiency code and click the Payments button to add an amount

that was received or verified that it was paid.


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For a liability received from the school, change the org type to school and the

Payment Type to liability. Complete the method, amount and date. If the

liability is different than the default simply so back and change. Select the OK

to exit and save. Select the Red Door icon in the next screen to return to the

review record.


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Entering Servicer Review Records: If entering a servicer review, once the review

and deficiency information has been input and saved. You will then need to add those

Lenders reviewed as part of the Servicer review. Click on the Underlying Lenders

button.


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Enter those lenders that were reviewed as part of the Servicer review. Once

you have entered the lenders press the Diskette to save the record. Each

will be assigned a PRCN which can be accessed individually and all

information related to the servicer review will be automatically populated on

the individual lender record.


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Review Deficiency Query: To review deficiencies that have been identified in

program reviews, choose More/Financial Partners/Reviews/Review

Deficiency Query.


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To get a list of deficiencies that have been identified by the 611 guarantor. Scroll

over to the GA column (between the By and For column) and enter611. Select

the Magnifying Glass icon.


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The query will retrieve records similar to these test records. Using the horizontal

scroll bar you can see the additional information that is located to the right of the

screen.


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Query Review Deficiency Results - Second Screen


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Query Review Deficiency Results - Third Screen. To download this data into an

excel spreadsheet, select the Folder Tabs icon to extract the file.


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The following window will be displayed. Enter a path and file name. In this case

enter after the C:\ pepsdata and deficiencies.csv as the file name, to create an

excel compatible file, and select Create File


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A message should appear to inform you that the extract was downloaded into the

path you specified. You can now open the file into excel or access. Click the

OK on that message and then the Red Door to return to the main menu.


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Review Deficiency Detail: To view or update deficiency information on specific

records, (if the user has access) choose More/Financial Partners/Reviews/Review

Deficiency Detail.

To update or view deficiency information on a specific record press the Open


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To update or view deficiency information on a specific record, press the Open

Book and enter the lender ID at the top of the screen and tab. The most current will

be displayed.

Note: There are various ways to access the deficiency data. The Review Query

screen, the Review Detail screen, and the Review Deficiency Query screen all have

shortcut buttons that are accessible, if data is displayed.


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The deficiency information for the selected PRCN is displayed. You can toggle

back and forth among PRCN for this entity by pressing the Up/Down arrow.

Once your desired record is displayed, you may begin entering deficiency

information. Select the Red Door icon to exit.


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Audit Query: To view information in a spreadsheet format on audits that have

been received by the Department, choose More/Financial Partners/Audits/

Audit Query

AUDITS


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This screen will provide information on audits that have been received by

Financial Partners. Enter a year that you are interested in viewing and other

specific criteria relevant to the results you desire. Select the Magnifying Glass

icon.


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You should have similar results from the query. Using the horizontal scroll bar,

there is additional information located to the right of the screen.


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Audit Query Results - Second Screen


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Audit Query Results - Third Screen


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Audit Query Results - Fourth Screen. Scroll back to the beginning.

This is the audit detail record It provides information on the entity performing


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This is the audit detail record. It provides information on the entity performing

the audit, dates that are related to the audit, type and date of response, HQ and

Regional referral information, deficiency and servicer information. As in the

review records, you would select the Defic button to view the detailed

information of the deficiencies associated with this audit.

Note: There is an alternative way to access this screen by choosing

More/Financial Partners/Audits/Audit Detail

This is the audit deficiency detail screen. No deficiencies were found for this

di Th li h l diff h h i d fi i W


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audit. These screens are slightly different than the review deficiency screens. We

have been working on upgrading the views and the audit screens have not been

done.

Note: There are alternative ways to access this screen by selecting

More/Financial Partners/Audits/Audit Deficiency Detail or selecting Defic

in the Audit Query results screen or selecting Detail in the Audit Deficiency

Query results screen.


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A cover sheet reflecting the information related to this audit can be printed by

pressing the Cvr Sheet button. The servicer information that is associated with

an audit can be viewed by selecting the Servicer button.

This is the screen when Servicer is selected Multiple servicer names and


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This is the screen when Servicer is selected. Multiple servicer names and

numbers that are used by the lender and associated with this audit are recorded in

this section.


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Audit Detail: See page 45.

Audit Tracking Query: Those lenders required to submit an audit are tracked in


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Audit Tracking Query: Those lenders required to submit an audit are tracked in

the audit tracking section. To query those lenders in a spreadsheet format, choose

More/Financial Partners/Audits/Audit Tracking/Lender Audit Tracking

Query


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Currently all lenders with a portfolio that is = > $10M for 1995, 1996, and

1997 and =>$5M for 1999 and after; will be displayed. Scroll to the right to

view the additional info.

d A di ki Q S d S


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Lender Audit Tracking Query - Second Screen.

L d A di T ki Q Thi d S


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Lender Audit Tracking Query - Third Screen.


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Lender Audit Tracking Query - Fourth Screen.

Lender Audit Tracking Query - Fifth Screen Select the Red Door


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Lender Audit Tracking Query - Fifth Screen. Select the Red Door

icon to exit to the main menu.

h d il d d h l d i d


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Lender Audit Tracking Detail: The detailed record on the lenders required to

submit an audit. To view the detail on those lenders, choose More/Financial

Partners/Audits/Audit Tracking/Lender Audit Tracking Detail


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This screen lists the servicer that the lender utilizes. Select the Red

Door icon to go back to the previous screen and select the Roll Up

Detail button.


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This Roll Up Query screen provides the detail information on the lenders

associated with the consolidated portfolio data used to track the lender

audits. If you scroll to the right you will see the individual portfolio data for

each lender. Select the Red Door icon once you finish scrolling to go

back to the main menu.

Lender Servicer Audit Tracking and GA Servicer Audit Tracking and


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g g

Exceptional Performer Audit Tracking: These new sections were recently

added. The screens are similar to the others already covered and starts with the

current audit period ending 2003.


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Audit Deficiency Query: To view the deficiencies associated to an audit in a

spreadsheet format choose Menu/Financial Partners/Audits/Audit Deficiency

Query.


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To view the deficiencies that were identified in an audit, enter the year that you

are interested in viewing and any other specific criteria relevant to the results you

desire. Select the Magnifying Glass icon.


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The query will retrieve records similar to these. Using the horizontal scroll bar,

you can view other information located on the right of this screen.


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Audit Deficiency Query - Second Screen


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Audit Deficiency Query - Third Screen. Scroll back to the beginning and select

Detail on the first record to view the deficiency information.


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This is the audit deficiency detail of the selected record. Select the Red Door icon

to exit. Select the Red Door icon again to return to the main menu.


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Audit Deficiency Detail: See pages 46 and 66.

ACTIONS


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Action Query: To get a list of administrative actions taken against a lender or

servicer, choose More/Financial Partners/Actions/Action Query.

Currently there is no data available to populate this area Scroll over to the right


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Currently there is no data available to populate this area. Scroll over to the right

to view additional fields.


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Query Admin Actions - Third Screen. Select the Red Door icon to exit.

Action Detail: To view additional information on an administrative action


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Action Detail: To view additional information on an administrative action,

choose More/Financial Partners/Actions/Action Detail.

There is no data available to populate this screen. The action detail screen

provides more detailed data about the action. Select the Red Door icon to exit


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provides more detailed data about the action. Select the Red Door icon to exit

to the main menu.

Note: There is an alternative way to access this screen by selecting Dtl in the Action

Query screen.

APPEALS


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Appeal Query: To view the appeals that have been received in Financial Partners

for lenders and servicers choose More/Financial Partners/Appeals/Appeal

Query.


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Appeals Query - Second Screen.


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pp Q y

Appeals Query - Third Screen Select the Red Door icon to return to the main


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Appeals Query - Third Screen. Select the Red Door icon to return to the main

menu.

Appeal Detail: Additional information on an appeal received from a lender or


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ppe e : pp

servicer can be viewed by choosing More/Financial Partners/Appeal/Appeal

Detail.

The appeal detailed screen provides additional information on the type of activity that

is being appealed and the dates associated with the appeal Select the Red


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is being appealed and the dates associated with the appeal. Select the Red

Dooricon to return to the main menu. To see the related detail or deficiencies related

to this appeal press Rltd Dtl orRltd Defic buttons.

Note: There is an alternative way to access this screen by selecting the Details

in the Appeal Query screen.

DEFAULT INFORMATION


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GA Default Rates: You can view the default rates of and letters sent to lenders and

guarantors. To view the default rates for guarantors choose More/Financial

Partners/Default Information/GA Default Rates.

To list all guarantor default rates for 2000 enter 2000 in the Cohort Year Select


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To list all guarantor default rates for 2000 enter2000 in the Cohort Year. Select

the Magnifying Glass.

The query resulted in a list of guarantors default rate in ascending order by their 3

digit GA code. The first record (555) is an internal number used by the Department.


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g ( ) y p

To view the guarantor associated with the GA code, either scroll to the right or click on

the three digit number and select the Double Plus Sign and the detail of that agency

will be displayed or scroll to the right to view that information.

Guarantor Default Rates Result - Second Screen. You can view the form letter


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Gua a to e au t ates esu t Seco d Sc ee . ou ca v ew t e o ette

that was sent to the agencies with a default rate for that year by pressing Prt

Lettr. Select the Red Door to exit.


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GA Default Rate Letters: To view the letters that were sent a particular

guarantor in a cohort default year choose More/Financial Partners/Default

Information/GA Default Letters.

To view the letter data for 2000 enter 2000 in the Cohort Yr and select the


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To view the letter data for 2000 enter2000 in the Cohort Yr and select the

Magnifying Glass. This screen provides information on the letters that were

sent to the guarantors and if there were corrections made to the original letter sent,

the corrected rate would be listed on this screen. To date we have not had any

guarantor corrected rates. Select the Red Door to exit.

L d D f lt R t T i h d f l f l d h


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Lender Default Rates: To view the default rates for lenders choose

More/Financial Partners/Default Information/Lender Default Rates. The

screens for the lender default rates are similar to the guarantor default rates. Refer

to page 81.

D f lt R t L tt T i th l tt th t t ti l l d i


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Default Rate Letters: To view the letters that were sent a particular lender in a

cohort default year choose More/Financial Partners/Default Information/

Lender Default Letters. The screens for the lender default letters are similar to

the guarantor default letters. Refer to page 85.

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