Equity [R1103]

The Equity report [R1103] shows a comparison between the net investment of the lease and the outstanding loan balance due the lender. This report is of particular benefit if the "match funding" concept of lease funding is employed (each lease has a specific underlying loan associated with it).

The report may be accessed through the Loan report menu [R11] and may be selected interactively for:

• All leases
• A portfolio
• A company
• A region
• An office
• A lease

Equity Selection

• ALL
  Enter X to report on all leases. Leave blank if reporting on a specific portfolio, company, region, office, and/or lease.
  
  
• PORT
  Enter the number of the portfolio upon which to report. Leave blank if reporting across portfolios.
  
  
• COMP
  Enter the number of the company upon which to report. Leave blank if reporting across companies.
  
  
• REGN
  Enter the number of the region upon which to report. Leave blank if reporting across regions.
  
  
• OFFIC
  Enter the number of the office upon which to report. Leave blank if reporting across offices.
  
  
• LEASE
  Enter the number of the lease upon which to report. Leave blank if reporting across leases.

Equity Report

• LEASE
  The lease number is displayed.
  
  
• LESSEE NAME
  The short form of the lessee name is displayed.
  
  
• COMMENCE DATE
  The commencement date of the lease is displayed.
  
  
• ORG TERM
  The original term of the lease in months is displayed.
  
  
• REM TERM
  The remaining term of the lease in months is displayed. The remaining term is based on the number of months accrued, not on the current date. For month-to- month terms, MTM will be displayed.
  
  
• LEASE PAYMENT
  The regular lease payment is displayed. If the lease has an irregular payment schedule, the current scheduled lease payment is displayed. For example, if the lease has the following schedule:

  12 monthly payments of $600.00

  12 monthly payments of $750.00

  12 monthly payments of $900.00

  and the number of payments accrued is 15, the current scheduled lease payment is $750.00.

• LEASE RESIDUAL
  The estimated market value of the asset(s) at lease maturity is displayed. If multiple assets are tied to the lease, the sum of the residual values of all assets for the lease is displayed.
  
  
• LEASE BALANCE
  The net investment of the lease is displayed. It is calculated as follows:
  
  For precomputed interest leases:

  CONTRACT RECEIVABLE
  + RESIDUAL
  - UNEARNED INCOME (LESSOR + VENDOR + INVESTOR)

  For simple interest leases:

  ACCRUED PRINCIPAL

  For operating leases:

LEASED ASSETS - ACCUMULATED DEPRECIATION

• LOAN RATE
  The interest rate of the loan is displayed.
  
  
• LOAN PAYMENT
  The principal payment due the lender is displayed.
  
  
• LOAN BALLOON
  The last payment due on the loan is displayed. This is either a true balloon payment or the last payment amount due for the loan.
  
  
• LOAN BALANCE
  The loan balance is displayed.
  
  
• CURRENT EQUITY
  The difference between the lease balance and the loan balance is displayed. A negative amount indicates a higher loan balance.
  
  
• TOTALS
  Page totals for all dollar amounts are shown by office. Region, company, portfolio and grand totals are shown for all dollar amounts.

Additional Information

Leases and loans are associated through assets, since assets are tied to loans and are also tied to leases. The loan information, used in comparison with the lease information of the report, consists of all loans for all assets attached to the lease. For this report, an asset/loan relationship of one-to-one or one-to-many is assumed. These relationships occur naturally under the "match-funding" concept. For an asset/loan relationship of many-to-one (i.e., multiple assets under a single loan), incorrect loan information is displayed on this report since the per-asset loan amount cannot be determined.

This relationship occurs under the "pooled-funding" concept and invalidates the information on this report.

© 2001 by McCue Systems Incorporated.
All rights reserved.

The information contained in this document is the property of McCue Systems, Inc. Use of the information contained herein is restricted. Conditions of use are subject to change without notice. McCue Systems, Inc. assumes no liability for any inaccuracy that may appear in this document; the contents of this document do not constitute a promise or warranty. The software described in this document is furnished under license and may be used or copied only in accordance with the terms of said license. Unauthorized use, alteration, or reproduction of this document without the written consent of McCue Systems, Inc. is prohibited.