Financial Partners - 2005

1
Financial Partners - 2005 Entering School and
Lender Reviews by Guaranty AgenciesAudit and
Default Information
Training Guide/Manual Volume VI

January 2006 Part I U.S. Department of
Education Federal Student Aid (VISIT OUR
WEBPAGE _at_ www.ed.gov/offices/OSFAP/PEPS)

(The information in this guide is fictitious and
was created for training purposes.)
2
WHATS NEW Recent Changes to the System
3 REVIEWS Review Query
4 Review Detail 19 Review Deficiency
Query 28 Review Deficiency
Detail 35 AUDITS Audit Query 39 Audit
Detail 49 Lender Audit Tracking
Query 50 Lender Audit Tracking
Detail 56 Lender Servicer Audit
Tracking 60 GA Servicer Audit
Tracking 60 Exceptional Performer Audit
Tracking 60 Audit Deficiency
Query 61 Audit Deficiency Detail 67
ACTIONS Action Query 68 Action
Detail 72 APPEALS Appeal
Query 74 Appeal Detail 78 DEFAULT
INFORMATION GA Default Rates 80 Lender
Default Rates 86
3
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. See Appendix
  D for a list of scope codes.
• Appendix D has field definitions for program
  review records and a list of points to remember.

4
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
5
The PEPS Tool Bar used within the Financial
Partners module is similar to the Tool Bar used
throughout PEPS.
6
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. Enter 611 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.
7
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.
Shortcut buttons to view or update (if user has
access) more detailed information on a record
8
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.
9
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.
10
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.
11
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 buttons to view deficiencies, the main
info. of a group of lenders that are related
their total portfolio the deficiency information
related to this review and to print a cover
sheet for this record.

Used when populating the lenders reviewed on a
Servicer review. Please refer to page 26 for
more information.
12
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.
13
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 Rollup button.
14
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.
15
Select the Cover Sheet from the detail record
and then choose preview to review the cover
sheet (see below) or print and attach to the
review report. Select the Red X to go back to
the detail record.
16
Select the Deficiencies button 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
Assessments button.
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.
17
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.
18
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.
19
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.
20
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.
21
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.
22
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.
23
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 to add additional rows.
Click on OK to exit and save.
24
Add a new deficiency code and click the
Payments button to add an amount that was
received or verified that it was paid.
25
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.
26
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.
27
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.
28
Review Deficiency Query To review deficiencies
that have been identified in program reviews,
choose More/Financial Partners/Reviews/Review
Deficiency Query.
29
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 enter 611. Select the Magnifying Glass
icon.
30
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.
31
Query Review Deficiency Results - Second Screen
32
Query Review Deficiency Results - Third Screen.
To download this data into an excel spreadsheet,
select the Folder Tabs icon to extract the
file.
33
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
34
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.
35
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.
36
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.
37
To view a list of all the PRCNs, select the
Up/Down arrow next to the PRCN information and
you will get a list to choose from. If you
select a PRCN that is not your agencys, the
system will not allow you to update that record.
The 6th and 7th position of the PRCN identifies
the Region Code. Every guarantor has a
designated Region Code.
38
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.
39
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
40
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.
41
You should have similar results from the query.
Using the horizontal scroll bar, there is
additional information located to the right of
the screen.
42
Audit Query Results - Second Screen
43
Audit Query Results - Third Screen
44
Audit Query Results - Fourth Screen. Scroll back
to the beginning.
45
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
46
This is the audit deficiency detail screen. No
deficiencies were found for this 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.
47
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.
48
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.
49
Audit Detail See page 45.
50
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/Aud
it Tracking/Lender Audit Tracking Query

51
Currently all lenders with a portfolio that is
gt 10M for 1995, 1996, and 1997 and gt5M for
1999 and after will be displayed. Scroll to the
right to view the additional info.
52
Lender Audit Tracking Query - Second Screen.
53
Lender Audit Tracking Query - Third Screen.
54
Lender Audit Tracking Query - Fourth Screen.
55
Lender Audit Tracking Query - Fifth Screen.
Select the Red Door icon to exit to the main
menu.
56
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

57
This is the audit tracking detail record. This
screen provides information on the letters that
were sent for tracking purposes, the origination
YTD amount, and quarterly outstanding amounts.
Select the Servicers button to view the
servicers this lender does business with.
58
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.
59
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.
60
Lender Servicer Audit Tracking and GA Servicer
Audit Tracking and 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.

61
Audit Deficiency Query To view the deficiencies
associated to an audit in a spreadsheet format
choose Menu/Financial Partners/Audits/Audit
Deficiency Query.
62
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.
63
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.
64
Audit Deficiency Query - Second Screen
65
Audit Deficiency Query - Third Screen.
Scroll back to the beginning and select Detail
on the first record to view the deficiency
information.
66
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.
67
Audit Deficiency Detail See pages 46 and 66.
68
Action Query To get a list of administrative
actions taken against a lender or servicer,
choose More/Financial Partners/Actions/Action
Query.
ACTIONS
69
Currently there is no data available to populate
this area. Scroll over to the right to view
additional fields.
70
Query Admin Actions - Second Screen
71
Query Admin Actions - Third Screen. Select the
Red Door icon to exit.
72
Action Detail To view additional information on
an administrative action, choose More/Financial
Partners/Actions/Action Detail.
73
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 to the main menu.
Note There is an alternative way to access this
screen by selecting Dtl in the Action Query
screen.
74
Appeal Query To view the appeals that have been
received in Financial Partners for lenders and
servicers choose More/Financial
Partners/Appeals/Appeal Query.
APPEALS
75
Currently this area has not been populated.
Therefore, no data can be viewed. This area will
have the lender and servicer appeals that have
been received for audits and reviews. Scroll
over to the right to view the additional fields
to the right of this screen.
76
Appeals Query - Second Screen.
77
Appeals Query - Third Screen. Select the Red
Door icon to return to the main menu.
78
Appeal Detail Additional information on an
appeal received from a lender or servicer can be
viewed by choosing More/Financial
Partners/Appeal/Appeal Detail.
79
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 Dooricon to return to
the main menu. To see the related detail or
deficiencies related to this appeal press Rltd
Dtl or Rltd Defic buttons.
Note There is an alternative way to access this
screen by selecting the Details in the Appeal
Query screen.
80
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.
DEFAULT INFORMATION
81
To list all guarantor default rates for 2000
enter 2000 in the Cohort Year. Select the
Magnifying Glass.
82
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. 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.
83
Guarantor Default Rates Result - Second Screen.
You can view the form letter that was sent to the
agencies with a default rate for that year by
pressing Prt Lettr. Select the Red Door to
exit.
84
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.
85
To view the letter data for 2000 enter 2000 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.
86
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.
87
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.