In principle, it shares between HAs and service providers but at the behest and under the control of the sharer. We never forget who the customer is.
The system is of particular use to the Treasury and Compliance Departments of HAs – but we have many users in Development, Sales and elsewhere.
Customers use it to:
- Produce their monthly treasury report to finance committees and the like.
- Produce disposal/transfer/stair-casing forms and manage the associated workflow.
- Share data with valuers for periodic valuation exercises then sense checking the results and performing gain/loss analysis.
- Produce their quarterly reports for trustees and share associated data and documents with trustees.
- Share data with lawyers on new charging exercises ensuring one agreed version of the truth throughout the exercise.
- Produce annual (or more frequent) Numerical Apportionment information for funders.
- Produce statutory and regulatory returns.
- Produce rating agency returns.
- Model the effect of stock transfers/fire safety non-compliance reports/planned transactions on security pools.
- Model the effect of stresses (including the effect of HPI) on security pools and unencumbered stock.
- Identify suitable stock for lending exercises.
- Check loan covenant compliance, document that the checks were made and notify appropriate personnel when warning levels are reached.
To make this possible, AssetCore records:
- Available security (i.e. homes/units) to a defined industry standard.
Ideally this will be updated automatically via our API, but a periodic spreadsheet upload works nearly as well.
- Charge information.
- Outstanding facilities
Loans, bonds, programmes of loans/EMTN issues with NA, whatever.
- Trusts and Trustee relationships
The major Trustees are all users of AssetCore and have approved our outputs.
The major valuers are all users of the system and all produce output in ‘AssetCore format’ for simple uploading.
Rules relating to loans, golden rules, regulator rules, good governance rules and so on.
- Documents relating to the properties, loans, the charging process etc.