• Loan Servicing.

  We service and report on many types of loan amortization including simple interest calculated daily (paying monthly or quarterly), payment amortization, variable rate, balloon, 30/360, and rule of 78s.
  
  

• Invoicing.

  Equiant provides fee account servicing requiring bi-annual, annual, semi-annual, quarterly, and monthly payments; finance and late charges; and multiple reminder notices. We can provide fully customized periodic statements, and have the ability to track and provide separate reporting on fees, dues and services relating to Maintenance, Membership, Legal, Collections, Association, and Taxes.
  
  

• Payment Processing.

  We provide a variety of payment options including payment coupon, SurePay (EFT/ACH), credit card, and statement with OCR remittance and envelope.
  
  

• Lockbox Capabilities.

  Equiant ensures security of client funds through a national retail lockbox operation, whereby customer payments are accepted and easily directed to client- or lender-owned accounts.
  
  

• Private Label.

  Clients may choose to have Equiant servicing appear transparent with client operations. All contact with the customer including statements, ACH, SurePay, and letters can be performed under the client name.
  
  

Backup Servicing

Equiant can provide extensive backup servicing programs to securitization Trustees. Our programs are organized under the common industry designations of cold, warm, and hot, and provide Trustees with an array of services that can be customized to fit the wide variety of securitization transactions coming to market. Critical servicing tasks can be performed in as little as 24-48 hours.

Securitization

Equiant is an experienced securitization servicer and document custodian for the resort and timeshare industries. We have been twice approved by major rating agencies for our excellence in servicing asset backed securities. As a pioneer in static pool reporting for the timeshare industry, our static pool reports are extremely flexible incorporating multiple parameters to tailor the analysis to the specific needs of the rating agency or investment banker. Equiant is fluent in coordinating with trustees, investors, rating agencies, investment bankers and the issuer to make a successful securitization. Securitized collateral is individually bar coded and safely stored in our vault with only copies of documents allowed to leave the facility.

• How Securitization Works

Standard Reports

Industry-standard reports include periodic lender funding reports, weekly delinquency reports, and the following comprehensive month-end package:

• Trial Balance
• Receivable Reconciliation
• Loan/Account Transaction Detail
• Loan/Account Summary Aging
• Loan/Account Detail Aging
• Lender Additions/Deletions
• New Loans/Account Set-Up
• Loan/Account Disposition Alterations
• Potential Refund

Custom Programming

Equiant programmers are renowned for their ability to address individual client database and reporting needs. Where other servicers offer inflexible and cumbersome reporting, Equiant offers comprehensive and easy to understand information solutions. Client data and reports can be accessed through our secure website and includes powerful search and sorting capabilities. Reports can be downloaded or delivered electronically in spreadsheet compatible formats for easy distribution and storage.

Internet Access

Equiant provides client access to our system through our secure website in order to:

• Obtain forms
• Access customer loan information including payment history
• Review and insert notes and comments
• Perform collections and customer service
• Download and print reports conveniently from your desktop
• Process payments
• Make address and telephone changes

Lender Relationship Reporting

Equiant understands the importance of maintaining excellent relations with your lenders. Equiant is subject to audit by internal and external auditors and the State Banking Commission, and carries the appropriate business insurance and errors and omissions coverage. We will provide your lenders with standard reports at no additional charge to you. Additionally, if your lenders desire, we will sign an agency agreement and set up separate lockbox/bank accounts to ensure that Equiant acts in a fiduciary capacity with respect to assigned accounts.

Quality Controls and Data Security

Equiant is licensed in all states as required and abides by all state and federal regulations. We maintain a rigorous quality control program that includes, continuous improvement training, in-depth client feedback, and an annual review by external auditors for the purpose of issuing an SAS70 report. As part of our disaster recovery planning we perform daily full system backups with offsite storage, and regular testing for 24-hour recovery capability.

You may set up your sales/account for servicing either by filling out a simple one-page form or by transmitting a file to be downloaded directly into our system. Whichever method you choose, all sales/accounts are generally set up within 48 hours of receipt, and are fully validated to ensure all necessary information is present, including phone numbers, address, and social security numbers.

We are programmed to accurately service and report on many types of loan amortization, including:

Simple Interest, calculated daily, paying monthly Simple Interest, calculated daily, paying quarterly Monthly Payment Schedule Amortization Variable Rate Balloon Rule of 78’s

We are programmed to accurately service and report on many aspects of fee account servicing, including:

Annual Payments Quarterly Payment Monthly Payments Finance Charge Late Charge Multiple Reminder Notices

There are a variety of options we can offer to your customers for making their loan and/or periodic fee payments:

• They can use a payment coupon and send the payment to our automated bank lockbox. These payments are deposited and transmitted daily to our computer system.
  
  
• They can choose to have their payment and, if desired, additional principal payment amounts automatically drafted from their bank account using our SurePay program. You may choose to encourage your customers to use this program by offering them a lower interest rate on their loan through a SurePay Incentive program. Periodic fee payments can utilize SurePay for monthly and quarterly billing only.
  
  
• Your customers can also pay using their credit card. We currently accept VISA, MasterCard, American Express, and Discover Card. This option is especially convenient for foreign customers.
  
  
• You may choose to have your customers receive periodic statements, rather than a payment coupon book. These statements can be custom designed to meet your needs, and include an OCR scannable remittance advice and a return envelope.

Asset-Backed Securities

Equiant has achieved the status of approved timeshare servicer by FITCH Rating Agency, and is acting as sub-servicer on an investment grade public transaction.

In addition to performing all the tasks related to loan servicing as outlined throughout this document, we are able to assist your investment banker and potential investors in performing the initial analysis on your portfolio of loans in a form requested by rating agencies (i.e. static pool analysis), and can perform the required servicing and investor reporting throughout the life of the securitization.

In addition, we can act as a backup servicer, monitor and manage activity in and out of the pool, reconcile the pool on a monthly basis, and provide reporting required by securitization trustees and investors.

Maintenance, Membership Fees or Association Dues

Equiant provides billing and collection services related to maintenance fees, association dues, and other services that require a periodic statement.

Fully customizable statements can be produced monthly, quarterly, or annually, depending on the requirements of your agreement with your customer.

The billing system has been designed to accurately assess late charges and/or finance charges, and is fully integrated with the loan system for seamless service and reporting.