Residual
Receipt Analysis
AmeriNational has a unique understanding of the special services
required to service residual receipt loans. With years of loan processing
and underwriting experience for government housing and economic
development programs, AmeriNational can process any variation in
loan criteria. Upon receipt of the borrower’s annual financial
statement, provided by the Agency, AmeriNational will review financial
statements for reasonableness, and review the Promissory Note and/or
Loan Agreement to determine method in which calculation of residual
receipt is to be done. AmeriNational will then calculate if the
borrower has the present capacity to repay the City loan and if
so, the payment amount. A Residual Receipt Analysis Report will
be prepared and forwarded to the Agency, recommending continued
deferral, or amount of residual receipt payment required.
If residual amount is approved by the Agency, AmeriNational will
notify the borrower by issuing a billing statement of the payment
amount required. AmeriNational will then perform necessary follow-up
for payment of all residual receipt invoices billed, including collection
activity. A Delinquent Aging Report will be provided to the Agency
on a monthly basis. Residual receipt payments received will be applied
to the Borrower’s loan in accordance with the terms of the
Promissory Note and/or Loan Agreement. |
