MHSI CECL For Credit Unions
Choose the CECL Solution that’s
Right for Your Credit Union
Why did Mark H. Smith, Inc develop a CECL solution?
While trying to help our clients learn about CECL(current expected credit loss), we discovered the currently available solutions were just not right for our clients and many other smaller credit unions. Some of the issues we found were:
- Existing CECL solutions were large, complex, cumbersome, and very expensive
- Even solutions that were outsourced required a significant amount of time and credit union resources
- Historical data requirements were substantial if not unfeasible for many credit unions
“There has to be an easier, better, simpler, and affordable way to comply”, and MHSI CECL was born.
Mark H. Smith, Inc. developed a solution that addresses all of these issues and is specially designed for our client’s needs at an affordable price.
But with these changes was quality and comprehensiveness affected?
NOT AT ALL
Some of the features in MHSI CECL Include:
- Three different models to compare (Remaining Life, Probability of Default/Loss Given Default, and Vintage Analysis) which use both multiple peer data sources and credit union specific data. (Vintage Pool is dependent on the data provided and only available with quarterly reports)
- Remaining Life
- Probability of Default/Loss Given Default
- Vintage Analysis (Vintage Pool is dependent on the data provided and only available with quarterly reports)
- CU specific prepayment speeds that can be adjusted for different interest rate environments
- Individual loan level analysis and strong segmentation
- Online functionality allowing for further analysis including:
- Drill down
- Base case and statistical variance alternative comparisons
- Stress testing scenarios
Additional benefits of the MHSI CECL Solution:
- Utilizes State and National comparisons (peer comparisons)
- Uses Nationally recognized data sources and indexes
- Utilizes 15 years of credit union specific call report data
- No software maintenance or data storage requirements
- No setup cost
You don’t need an expensive and difficult CECL solution.
Just the RIGHT one for YOUR credit union.
MHSI is offering a ONE-TIME CECL Report for a small fee with only a Loan Aires file to complete*
In addition, if an annual CECL agreement is executed before 12/31/2021, the entire one-time report fee will be credited towards the annual CECL contract.
*Individual Credit Union Loan Composition may require additional information.
Don’t wait, get your MHSI One-Time CECL report today
Discover what many of our clients have discovered:
— Darwin B., Citizens Community Credit Union
— Valerie W., Bethlehem 1st Federal Credit Union