E20 0043_Mortgage_Loan_Accounting 0043 Mortgage Loan Accounting
E20-0043_Mortgage_Loan_Accounting E20-0043_Mortgage_Loan_Accounting
User Manual: E20-0043_Mortgage_Loan_Accounting
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Page Count: 14
MORTGAGE LOAN ACCOUNTING
Progressive
commercial
banks,
savings
banks,
savings
and
loan
associations,
mortgage
servicing
companies
and
insurance
companies
long have
recognized
the
advantages of
utilizing
IBM
Data
Processing
Systems
for
Mortgage
Loan
Accounting.
The flexibility of
the
IBM Method
permits
the
design
of
procedures
to
meet
individual
needs.
For
instance:
A
number
of
customers
are
using
the
IBM 557
Interpreter
with Selective Line
Printing
to
automatically
print
their
Ledger
Cards.
Other
customers
use
the
IBM Balance
Cards
as
their
Ledger
Records
and
periodically
use
them
to
list
an
Historical
Record
of
transactions
and
balances
by
mortgagor.
A copy of
this
listing,
showing prinCipal,
interest,
escrow
payments
and
escrow
disburse-
ments,
mailed
to
the
mortgagor
at
year
end,
eliminates
inquiries
for
data
to
support
income
tax
returns.
The
customer
whose
procedure
is
described
in
this
book
prepares
his
Ledger
Cards
on
the
IBM 954
Facsimile
Posting
Machine.
On
mortgage
billing,
the
IBM Method
is
sufficiently
flexible
to
be
efficient
whether
a
bill,
a
passbook,
a coupon book
or
a
receipt
plan
is
utilized.
The
IBM
prepared
bill,
on
paper
or
an
IBM
card,
is
an
extra
dividend
achieved
through
use
of
the
IBM
Data
Processing
Machines.
In addition
to
the
regular
accounting functions,
the
use
of IBM
machines
makes
possible
the
preparation
of
special
analyses
for
audit
and
management
purposes.
These
analyses
may
take
the
follOwing
suggested
forms:
mortgage
property
analysis
by
type
of
property,
by
location
and
type
of
mortgage,
and
by
type
of
mortgage
and
amortization
status.
Installations
of IBM
Data
Processing
Systems
are
currently
serving
customers-
whose
portfolios
vary
from
less
than
2000
to
over
100, 000
mortgages.
1
2
PROCEDURE
The following
is
a
brief
description
of
the
way
in
which one
customer
has
met
and
solved
his
accounting
requirements.
NEW
LOANS
1. Name
and
Address
Cards.
They
are
used
in
the
printing
of
the
mortgagor's
name
and
address
and
the
location
of
the
property
on
the
mortgage
bills.
These
cards
are
filed
in
account
number
sequence
for
each
day,
period,
and
kind of
mortgage,
and
are
used
repetitively
in
each
billing
period
during
the
term
of
mortgage.
C
BlN
NUMBER
K
RATE
P
DAY
NAME
.R
.~ESS
•• AGEN'
too,
013520811
451
II
10
III
846
MONTCLAIR
ROAD 1
CAR~
BUNUNBER
K'
RATE
SP
DUE
DATE
•••
• •
••
ME
OR
ADDRESS A iENT
100010
ODD
00
10
DO
000000001000000000000
00000000
00000000000000000000
00000000000000
00
1 2 3 4 5 •
119
1011
213 415
'O""~~~~N~anna»~~~~~s
313131404142
4344
~.u.a~~U~~"~~~9~~uaM
&5111111191011n1l141511n1l
1910
'"
BaM
I~:/E
g!
oj
I NAME
OR
IoDRESS
1 AGENT
5
NUMBER
<.>
222122
222
22 22 22
222222222222222222222
22222222
2222222222f222222222
22222222222222
22
313333
333
33 33 33
33333333111333333
3333333333333333
33333333333333
33
444444
414
44 44 44
44144144444444444
I
4444444444444444
44444444444444
44
551555
551
55555551555555555
MORTGAGE
NAME
OR
ADDRESS
55 55 55
5555555555555555
55555555555555
55
666666
666
6 6 66 66
666166166666666616666
66666666
66666666666666666666
66666666666666
66
777777
777
77 77 77
7777777
7 7
777 777
7 7 77 77
77777777
77777777777777777777
77777777777777
77
888881
888
88 88 88
81888888888888888a888
88888888
88888888888888888888
88888888888888
88
99999999999999999999999999911919999999999999999999999
9 9 9 9 9 9 9
99999999999999999.999
1 2 3 4 5 • 1 1 •
10
11
12
13 14 15
1&
11
II
19
~
21
~ ~
24 25
a
21
n a »
31
l2
~ ~
l5 S
31 31
31
jO
41
42
43
44
~
•
41
•
41
50
51
U
~
~
"
~
51
~
11110
11
U a M
&5
66&1
II
19
10
11
12 13
14
15
?,
n
11
11.
IBM
7B499~
2. Mortgage
Transaction
Cards.
These
cards
are
used
for
the
calculation
of
interest
charges,
principal
and
escrow
payments,
principal
and
escrow
balances,
the
preparation
of
bills,
and
the
establishment
of accounting
controls.
/
Ci
III
IUlm
!K
RITE!
s!
P I
DAY!t~
•.
A!YI]UAIS
I!TERESIT !
ESC~OI
IIlllCE
!
P~INCIP1L
BAL~NCE
I
loill
P1!1EIIl
I
m'Rol
P1I:EIT ! FRllcl'm
PIU'EIT
!
BiRO'
8ll:~CE
!
P~INCIP1L
BAL~NCE
3520811101105
1
~
15,051,62,,21
4,014,041
15,531
,
13
1
421,
77,651
41
000,62
BaM
NUMBER
Kip
I
DAY
I
MO.
lUIS.
A INTEREST
ESCROW
BALANCE
I PRINCIPAL BALANCE I
ESCROI
pmm
I PRINCIPAL
PAYMENT
I
ESCROW
BALANCE
I PRINCIPAL BALANCE
~
: : : I I ; : I
'I
I:
~
: I I I
000010000
101010000011:100:1011:100:001:110:10
OliO
11:10 0:1111:10
0:0
0
11110
0:0
0
1110
0:0
0 1:110:111:0 0
] 4 I 9
117
I] I
I!
II II
~B
71:"
'l
24k5
26
21
I I , I • • I I I I I
16~
5566:616869:10
1112:13
14
15b6
7118:19
80
:i!
B6M
I
~
:;j'd~
~
~
INT l T ESCRO.....
PRINCIIL
TOTAL
OR
EStOW
PRINCIAL
ESCROW
PRINCIPAL
~
NUMBER
i<
~
:l;
P
DAyi%
~ ~
~
E S BALANCE BALANCE
~~~~Tt~;
PAYMENT PAYMENT BALANCE BALANCE
1,2
2
.2
2 2 2 2 2
212
212
21212
2
212
2i2
2
2i2
1. 1.
1.:1.
1.
I;:
11.:1.
1.
1.:1.
1.
m
11.
2:2 2
2:
2
212
2 2:2
22
2
2i2
2
2i2
12
2:2
2
2i2
2
2:2
2
2:2
2
2:2
I
I I I :
::
: I I : I I I
31333
3 3 3 3 3
333
3 3 3 3 3 3 3
3:3
3
3:3
3 3
3:3
3
3:3
333:3 3 3:313 3
3:3
3
1:3
3 3
3:3
3
3:3
3
3:3
3
3:33
3:3
3
: 1 I : I I
::
: I : : :
444444414444444444444:44
4!4
4 4
4:4
44:4
MORIAGEIRtiSACTlcil
444:444:44444:444:1444:444:444:441:444:44
• I I I I i I I I • • : •
551555551555551555555:551:5155:555:5
ill:J;:J:J
:Ji:J:J
:J1:1:1:1
:11:1:1
:I!:I 5 5
515
51115 5 5
5:5
5
5:5
5 5
5:5
5 5:515:5 5 51
5 5
5:5
5
I : I I : : i : :
::
::
: I : : :
666666666666666666666:666:6666:616:666:666:666:666
6'6
6
6,6
6 6
616
6
6:6
6 6 6
6:6
6
6'6
6 6
6'6
6
6:16
6:6
6
6:6
661
16
• : : : • I • : :
::
I:
: I : I :
7777
7 7 7 77 7 7 7 77 7 7 7 77 7
7:77
7:7
77
7:7
7 m 7 m 77:77
7:7
77 7:77 7:77 7 m 7
717
7 77 71
7 7 717
777'71.777'777:777:77
1 : I : : : : I I
I:
::
: I : I I
888881888888888888888:888:8888:888:888:888:8881888
818
8
8:8
8 8
818
8
818
8 8 8
8:8
8
8:8
8 8 81
8 8 818 8 81888:8881
88
1 I : : I : : : :
::
I I : : : : :
999999999
9 9 9 9
99999999:999:9999:999:99
9:9
9
9:9
9
9:9
9 9
9:9
9
9:9
9 9
919
9
9:9
9 9 9
9:9
9
9:9
9 9
9:9
9
9:9
9
9:9
9
9:9
9
919
9
1 2 3 4 5 & 1 1 9
10
II
12
13 14
15
1&
1111
19
20
21122
23
24125
21
2121129303113233
41353631.31394014142
3441454641.4149505115253541555&
15151
59160
6162163
6465
6616168
6911011121131415116111811980
I
3. Mortgage
Principal
Card.
These
cards
are
kept
current
after
each
payment
by
reproducing
constant
information
from
old
to
new Mortgage
Principal
Cards
and
reproducing
current
escrow
and
principal
balance
figures
from
Mortgage
Transaction
Cards.
They
are
used
for
the
preparation
of audit
management
reports
without
interfering
with daily work.
/
H""
NU"RrH1KL:...I~lpIDA.!.'
..
;:.M,-m,I~·
,
PROPIR'II
A
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55
I I I , I , , I I I I ~ I
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I
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CODE
10101
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1
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"""I
1
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ISelOUAIntl
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ROAD
1 I
5,531
,
13,421
,
77,651·
I
4,000,62
R"
"
Nu"BI
H
~
K
RAllJ
P
~
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AI
".RDPII"
A.RIM
IESCROW
PA'''TI
PRINCIPAL
PA'''T.I
ESCROw BALANCE I
PRINCIPAL
BALANC[
, i
1.1
00;00
11.1
00;00
I :
Iii
I o:lllio 0
100010
o 0 0
10
10
10
1010
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00 0
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11:10,0:00
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119
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114
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141~:I&
II
18:19
10
B8M
I
~
~~
~
~!
E
~~z
• PROPERTY
AWl_RESS
•
TOTAL
OR
[stow
PRINciAL
ESCROW PRINCIPAL
N~MBER
S~EE
T •
CODE
CONSTANT
NUMBER
"
~
~
.....
jg
PAYMENT
PAYMENT
PAYMENT
BALANCE
BALANCE
1222122
l
122
1212
122
12
2
1212
2 2 2 2 2 2 2
12
2 l 2 2 2 2
2,"}
"} "} "}
12
Z
2:222:
12
2i2
2
2:2
2 2 2
2:2
2
2;2112
2:2
2
212
212i2
2
2i2
2 2;21
313333
I I I I I I I I I
3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3
33311133
3 3
3:3
3
~:3
13 3
3:3
313
3 3
313
3
313
3
313
3
3:3
3 * 3
I I
I'
I ' I I I
4 4 4 4 4 4
414
4 4 4 4 4 4 4 4 4 4 4 4 4
1414
4 4 44 4 4 MORriAGE
PRINCIPALII
4 4
4:4
4
4:4
4 4 4
4:4
4 4:14 4
4:4
4
4:4
4
4:4
41:4 4
4:4
4
I,
I I I I I : I
55155555155555555555555555155555
:i:i
5
555515551551555:5555:55115555:555:5555:555:515:555:5
5
5:5
5
I I I I I I , , I : I
6666666666666666661
6
666161666666666
166666666:66616666:666:66666:666:66661666:166:666:6
6 6:16
I : : I
I:
I I I : I
7 7 1 7 7 11 7 7 7 7 7
111
7 11 7 11 7 7 11 7 7 1 71 77 7 7 7 77 1 7 7 7 1 7 7:77
717
7 1
117
11:111111111111111111111'1
7
1111
7:11
I ' I I
,I
I
"I
I ,
'I
I I I I , I
88888188888888888888818888888888888888888888188
8:a
a a
a:a
a
al8
a 8 8
8'8
8
8'8
888:888'888'88
a:8
a
a:8
a
: I
I:
::
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999999999999999999999999999999
91~919
9 9 9 9 9 9 9
9:9
9
9:9
9 9
9:9
9
9:9
9 9 9
9:9
9
9:9
999:999:999:999:999:99
1 2 3 4
~
6 1 8 9
10
11
12 13 14
I~
16
11
18
19
20
2122
23 24
2~
26
21
2129
3031
34
36313139140414
43
441454641'414950
~1152
5354.~5
56 51 51
591606162163
64
6B6.61
68
69.10
11
1211314
15116
1118.1980
4. Mortgage
Statistical
Card.
These
cards
contain
the
appraised
and
assessed
valuation of
property
and
other
statistical
information.
/
They
are
used
singly
or
in
conjunction with Mortgage
Principal
Cards
for
the
preparation
of audit and
management
reports.
I I I I I I I I I I
II
II
, I , I
I,
I I I I
II
I I
C
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ut(
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VA
A
"0.
'R.I
APPRAISAL RESERVE I ASSESSED I
ESCROI
ULilCE 1 PRINCIPAL BALANCE
35
208
1145
110 I 1
36
6
21
II I I
3,5
I I
12,0001
I
6,2001
, , I , , ,
BS"
NU"BER
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RATE
P I
DAY
LOCATION
y .... t
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AI
I
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I YR. APPRAISAL I ASSESSED I ESCROW BALANCE. 1 PRINCIPAL BALANCE
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§
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AP~AISAL
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PRINC'PAL
~
~
!;i~
..
NUMBER
e;
P'oAv
~:;8
~
g~
::'0
~
BY
V.A.
~IMO.IYR.
VALUE
BALANCE BALANCE
12122
12
2!ZIZ
ZI2121Z
Z Z Z
21Z
Z Z l
liZ.
Z 2121222222222221212212212:221:222122
2i2
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I ,
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: I : I :
44444441444444444444444444444444
MORTGAGE
STATISTICAL
4444:444;444:444:44444:444:444:444:444:44
: I : I : I : : I
55155555155555555555555555555555
!!
5 5 5
51!!1:J
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sIs
5
515
5
5:5
5 5 5
5.5
5
5:5
5
5:5
5
5:5
5
5:5
5
::
::':
::
I : :
6666
666
6 6 6 6 6 6 6 6 6 6
616 616
6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6
6:6
6
6:6
6 6 6 6
6:6
6
616
6
6:6
611
6 6 6 6
616
6
616
6
6:6
6
6:6
6
6:6
6
I I
::
I:
:::
I :
1111111111111111111111111111111111111111111:111:111111'111:111:111:llll:III:II1'111:111'11
,
,I
: I
,I
I I : : :
88888188
a 8 a a 8 8 8 a 8 8 a a a 8 8 8 a 8 8 8 8 8 8 8 8 8 a 8 a 8 8 8 8 a
8:a
8
8:8
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818
a
8:a
8
al8
8 818 a a a
a:8
8
a:8
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8
8'8
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8:8
8
':
: I
::
:::::
99
9 9 9 9 9 9 9 9 9 9 9 99 9 9 9 9 9 9
999
9 9 9 9 9 9 9 9
99999999999:999:999999:999:999:999:999
99:9 9
9:9
9
9:9
9
9:9
9
9:9
9
1 2 3 4 5 6 1 8 9
10
11
12
,31,4
15 16
11
18 19
20
21
22232425262128293031
3233343536313839404142
314445460414849505152.535455156515815960611626364
566161686911011
12113141511611
78'19
80
3
4
BILLING
PROOF
JOURNAL
The
final
step
for
each
day's
payment
transactions
is
to
prepare
the
Transaction
Cards
for
the
next
mortgage
payment
by
crossfooting
on
a
calculating
punch
to
obtain
the
new
escrow
and
principal
balances.
Mter
the
preparation
of
control
records,
the
paid
Transaction
Cards
are
used
to
reproduce
the
Transaction
Cards
for
the
next
expected
payment.
The
new
cards
are
placed
in
ledger
files
in
account
number
sequence
by
control
group.
Ten
or
twelve
days
prior
to
the
next
due
date,
all
receivable
items
unpaid
for
the
prior
period
are
examined
and
a
Transaction
Card
for
the
next
payment
due
is
prepared.
These
cards
and
the
new
Transaction
Cards
for
currently
paid
accounts
are
listed
for
a Billing
Proof
Journal.
The
old
principal
and
escrow
balances
must
agree
to
mortgage
controls.
The
interest
must
agree
in
total
to
the
total
interest
manually
calculated
on
the
control
listing.
BILLING
PROOF JOURNAL
MORTGACf
TYPE
PER
DAY
110.
RATE
PRIICIPAl
ESCRDI
IITEREST
mULAR
TOTAL
110.
OUE
OLD
BALAICE
PAYIOTS
~EI
BAlUCE
OLDBALAICE
PAYMEITS
lEI
BALANCE
ADJ.lARREARS
IITEREST
PAlun
35208
1 1 1 5
45
410
1
4io
4 1
*2
62!12
1
sis
3 !
15\05
44100
35221
1 1 1 5
40
5810
C
0:2
6
166:66
19313
4
36
0:0
a
35224
1 1 1 5
45
41900112
3313
4 l :
18
1
38
51\72
35231
1 1 1 4
45
li975:49
8135
1
7\41
15\76
35231
1 1 1 5
45
I I 81
35
!
7\41
15:76
35237
1 1 1 5
40
4
4!7
5
0:7
2 !
14
9\17
1
49
117
35249
1 1 1 5
45
61C75119
2510
C
"'I"
1510
a
221
78
62:78
35251
1 1 1 5
45
2126
0:0
0
13135
81
38
21
1
73
35255
1 1 1 3
45
3!325i18
81
35
12:47
20
1
82
35255
1 1 1 4
45
8:35
!
12147
20182
35255
1 1 1 5
45
813
5 :
12:47
20:82
35262
1 1 1 5
45
2:400\19
2 5iO a
12
8i9
0
18
1
50
!
9'00
52150
35266
1 1 1 5
45
41000173
15100
15:0
0
35270
1 1 1 5
45
82116
C:8 7
13:35
95:30
1 9!7 5 !
8:10
41\20
35275
1 1 1 5
45
1 3
~i~
~ ~i~ ~
2
51c
0
17:35
42:3.5
356:87
427142
68178
32:35
476'43
934:45
BILLING
After
balances
with
controls
have
been
established
the
Name and
Address
Cards
are
merged
with
the
Transaction
Cards
and
the
bills
are
prepared.
The
totals
of
interest,
principal,
escrow,
and
total
payments
are
accumulated
during
this
operation
and
balanced
against
the
same
totals
of
the
Billing
Proof
Journal.
PROPERTY
MORTGAGE
NO
35208
LAKEVIEW
BANK
1846
MONTCLAIR
R 0 A 0
KINDt.,V
NOTIP'V
THE
BANK
OF
ANY
CHANGE
OF
ADDRESS
OR
OWNER_
J 0 H N
STEVENS
PAVMENTS
MAY
BE
MADE
AT
THE
1846
MONTCLAIR
R 0 A 0
MORTGAGE
CASHIER'SWINDOW
AT
CIT
Y
STATE
THE
MAIN
OFFICE
OR
BROADWAY
OI"'FICE
OR
BY
MAIJ-
MORTGAGE
PRINCIPAL
om
DUE
MOUNTOFINTERES
APPLIED
ON
PRINCIPAL
TAXESllISURANCE
TOTAL
DUE
BEFORE
THIS
PAYMENT
MO.
DAY
YR.
41
0
14104
51
liS
I 1 5iO 5
13
1
42
I 1 S!5 3 1
4410
0
! ! I I ! ! i 4
410
0
: : I i I : I
PL.EASE
BRING
THIS
BIL.L.
AND
STUB
WHEN
MAKING
PAYMENT
AT
THE
BANK.
WHEN
PAYING
BY
CHECK
SEND
STUB
ONL.Y.
YOUR
CANCEL.L.ED
CHECK
WILL
BE
YOUR
RECEIPT.
PAY
LAST
AMOlJNT
IN
THIS
COLUMN
LAKEVIEW
BANK
PAYMENT STUB
ALWAYS
RETURN
THIS
STUB
TO
THE
BANK
DETACH
ONLY
WHEN
PAYING
BY
MAIL
YOUR
CANCELLED
CHECK
WIL.L
BE
YOUR
RECEIPT
CASH
CHECK
PAYMEIT
RTD.
TOTAL
DUE
4 4!0 0
441
00
DMLYPAYMENTJOURNAL
Each
day,
the
Transaction
Cards
for
paid
items
are
selected.
The
source
document
is
the
Payment
Stub
returned
by
the
mortgagor
with
his
remittance.
This
stub
contains
the
amount
received
and
the
mortgage
number.
The
data
is
crossfooted
on a
calculating
punch
to
obtain
the
new
escrow
and
principal
balances.
The
cards
then
are
listed
by
mortgage
number,
period,
day, and kind, while
accumulating
totals
of
old
and new
balances
of
principal
and
escrow,
totals
of
interest,
and
totals
of
principal
and
escrow
debits
and
credits.
The
debit
and
credit
totals
of
this
listing
must
agree
with
the
Mortgage
Cashier's
totals.
These
totals
then
are
used
to
post
the
General
Ledger
Accounts.
This
listing
is
posted
by
means
of a
Facsimile
Posting
Machine
to
Mortgage
Ledger
Cards.
The
paid
Transaction
Cards
then
are
used
to
reproduce
the
Transaction
Cards
for
the
next
payment.
These
cards
then
are
put
through
the
calculating
punch
to
calculate
the
new
interest
and
principal
payment
amounts.
The
new
cards
are
filed
in
ledger
files
in
account
number
sequence
by
control
group.
The
old
cards
are
processed
for
the
preparation
of
historical
records.
OLD
SALAICE
PRI.CIPAL
410
1410
4
39:988:05
91174:87
28'264'40
6:264:77
5:5
9
9:7
5
5:903:79
7113
1:4
4
418 9
3'94
DATE
ESCROI
.0.
DAY
Y
6T2
I
~
166:08
5 1
12
1140
5 1
i
~
~!~
~
~
i
• 5 1
.0RTmE
.0.
35208
36115
37950
35675
35986
36441
3785.9
35320
36102
DAILY
MORTGAGE
PAYMENT
JOURNAL
P
D-ir
COIlE
.......",~=--......,..rrP:.::;:RI
•
.:.:.:.CIP;.:.:.AL-B-AlA-.C-E
-+-m--E
.,.:.:1.=TER=:.:....uIIT--+--DE-BlT-..,-----=C:.:....~::..:..I--,---BAl-AICE--lD·U~
If
1
1
1
1
2
2
2
2
3
MORTGAGE LEDGER CARD
2 ( .
DATE
ir.Q.DAY
.ORT~~E
UBER
DUE
PRINCIPAL
INTEREST
ESCROW
.0.
E.
(1
1
18
(2
2
'-----
3 1
4.
1
5 1
35208
35208
35208
35208
35208
PDAY
COli
0Ei~
1
1322
1
1327
1
1332
1
1337
1
1342
IALUCE
lATE
AIIOU.T
405400
4'12
1525
4040734
1
k
1520
402741
41k
1515
4014044
1
k
1510
40C062
41k
1505
DEBIT
CREDIT
1553
1553
1553
1553
1553
------
---
....
--.l...-I_~
0.
REMARlS
BAlAIICf
DUET.
1553
1
3106
2
46·59
3
6212
4
7765
6
-
5
6
HISTORICAL RECORDS
This particular
customer
has instituted an
Historical
Record Envelope
for
each
mortgage. The
history
and
statistics
on each mortgage
are
contained in
this
envelope.
/
After the Daily Mortgage Payment Journal
is
listed
and new Transaction Cards
have been reproduced, the paid Transaction Cards
are
sorted
by account number
and payments
are
listed.
By
means of the
Facsimile
Posting Machine,
this
listing
is
used
to
post
escrow
and principal balance on the Record of Payments.
The Historical Record then contains
all
the
necessary
information for the
ordinary interview with the mortgagor. This
record,
available
in
the mortgage
servicing
department,
eliminates
reference
to correspondence
files
and
ledger
cards
filed in other departments. Of
special
significance
is
the fact that
reference
to the Historical Record for collection and other information may
be
made at any
time
without interferenc.e to the accounting
records.
NUMERICAL
LIST
OF
PAYMENTS
MORTGAGE
DUE
MO.
ESCROW
PRINCIPAL
TRAN
NO.
PER
DAY
DATE
PAID
DUE
BALANCE
BALANCE
CODE
35208
1 5
15
5 7 716 5
41000162
46
I 1
35395
9 5
15
5
11
7\1
5 213 7
1197
51
36110
7 5
15
5 I 710 4 411 8 5 1
1
36235
13
5 1 5 5 1 613 4 312 8 5 1
1
36275
14
5
15
5 1
3217
9
21628135
5 1
36315
14
5
15
5 1
7140
114 0
51
36341
9 5
15
4 1 4
3:2
5 515 7 916 0 5 1
36405
12
5
15
5 1 3 117 4
4~0
0 016 2
51
36463
8 5
15
5 1 717
42\2
6 5 1
1
36496
7 5
15
5 1 8 617 9 612 4
3197
5 1
36512
14
5
15
5 I 316 2 615 5 5 1
1
36532
13
5
15
5 1 2 914 9
5/6
0
51
1
36583
3 5
15
5 2 8 112 9 2
8112
9130
5 1
36598
2 5
15
5 1 911 4 715 9 5 1
7 8
9:3
7 1 2
3\7
5
5!2
9
i
RECORD
OF
PAYMENT
BlM
DUE
DATE
PAID
MO.
ESCROW
PRINCIPAL
NUMBER
f----
BALANCE
REMARKS
PER
DAY
MO.
DAY
YR.
DUE
BALANCE
35208
1 1
15
1
15
5 3
4054
00
46
35208
1 2
25
2
31
06
4040
7 3
46
35208
1 3
15
3
46
5 9
4027
41 46
35208
1 4
15
4
62
12
4014
04
46
35208
1 5
15
5
77
65
4000
62
46
PRINCIPAL AND ESCROW CONTROL
Ledger
controls
of
escrow
and principal balances
are
maintained on Mortgage
Control Cards.
These
cards
are
kept current
to
reflect
all
entries
to
each
ledger
and
are
used
to balance
each
ledger
prior
to billing.
Control
cards
are
maintained for
each
rate,
day,
period
and ldnd
of
mortgage,
resulting
in
approximately 600 control
cards.
Daily, the active Transaction
Cards
are
sorted
by control group,
merged
with the corresponding Control
Cards and
processed
on
an
Accounting Machine to print-the starting balance
from
the Control Cards, add the debits, subtract the
credits
from the Transaction
Cards, and develop the new control balance.
The totals
of
old balances
plus
debits minus
credits
must
agree
with the new
balance total. The totals
of
debits and
credits
must equal the totals from the
Daily Mortgage Payment Journal.
Constant information
is
reproduced from the old Control Cards to the new. The
new
balances
are
punched
in
Control Cards from the affected Mortgage Control
Listing. After punching from the
control
list,
the new Control Cards
are
totaled
to prove the punching, then
merged
with the unaffected Control Cards and
listed.
The totalS
of
this
listing
must
agree
with the General Ledger Accounts.
AFFECTED
MORTGAGE
CONTROL
LISTING
ESCROW
PRINCIPAL
KIND
PER
DAY
AGEtIT
RATE
OLD
BALANCE
DEBITS
CREDITS
NEW
BALANCE
OLD
BALANCE
DEBITS
CREDITS
NEW
BALANCE
1 1 1
40
2:065:24
,
125:15
2:190:39
17
0!7
9 312 2
145100
1701648122
,
1
~
~!~
g
171:741:95
1 1 1
45
1:9
4 614 3 , 1
36:7
3
2:08
3116
1711791195
,
1021867168
1021669189
1 1 2
45
21126110
,
126:18
21252:28
1 1 3
45
4:175:36
,
210:10
4:385146
3
~
zi6
I
~!~
~
27:28
301:447:67
,
1 1 4
45
:983147
,
86110
11069:57
135:10
53:877:85
,
1 1 5
40
31622:61
,
203147
5!~
i
~!g ~
335:063:27
16105
335:047:22
,
1 1 5
45
3:4
18195
,
192:12
3591119:26
107154
359:011172
1 1 6
45
211 1
4:4
7
46:15
184:73
2:253:05
2831714103
23130
2831690:73
1 1 7
45
31816:42
201147
4:017189
3271123:0"1
45:44
3271077157
1 1 8
45
41217:55
308:76
41526:31
3721733:15
18:63
37
217 1
4:5.2
1 1 9
5513
3
2561271:63
1 1
10
MORTGAGE
CONTROL
LISTING
1513142
2361377152
1 1
11
2 0
,00
70:95
270:531:26
1 1
12
BALANCE
81
000
,00
38:41
18:472106
1 1
13
KIND
PER
DAY
AGENT
RATE
INTEREST
: I
337149
113:439172
1 1
13
ESCROW
PRINCIPAL
204127
338:963:94
1
40
2:190139
170:648122
10:00
oio
0 •
2986:00
3 7
1119
8
314
7
1 1
1 1 1
45
2'083'16
171:741195
1 1 1
50
2:5
32:49
285:134126
1 1 2
40
21048:77
175:820!15
1 1 2
45
~i2
~
~i~
~
1021669:89
1 1 3
40
~;
~!~
g!~
*
1 1 3
45
4:385:46
1 1 3
50
2:094172
115:436:83
1 1 4
40
21754138
2401366175
1 1 4
45
11069157
53:877:85
1 1 5
40
31826:08
335:047:22
1 1 5
45
31611107
35910
11172
1 1 5
50
1:946:74
173:
420
145
33:29
oi8
4
26311462:20
7
8
AUDIT
AND
MANAGEMENT REPORTS
The
Mortgage
Statistical
and Mortgage
Principal
Cards
are
available
for
the
preparation
of
various
statistical
reports.
The
reports
illustrated
here
have
been
prepared
for
a
periodic
examination
by
the
State and
Federal
Examiners.
An
Examination
Listing
of
this
customer's
portfolio
may
be
prepared
at
the
rate
of
several
thousand
per
hour.
The
examiners
find
this
report
of
great
value.
Due
to
the
immediate
availability
of
the
information,
the
time
required
by
examiners
for
the
examination
of
this
customer's
mortgage
portfolio
has
been
substantially
reduced.
BANK
EXAMINATION LISTING
CONSTANT
STRAIGHT
IMlmm
DUE
BALANCE
APPRAISAl
!!AT
PRII'.
ASSESSED
liND
LOCATION
~Y.EIT
AMORTIZATIOI
NO.
t-m'Dif
RATE
PRINCI~L
ESCRIlI
YR.
CLASS
VAlUE
YR.
AMOUIT
1
1846MONTCLAIR
R 0 A 0
44100
!
35208
1 1
45
~
g
~
~l~
~
7
7!6
5
51
12000
62
1
6200
1
1031FISCHER
A V E
56
1
00
35210
112
45
8'34
51
11500
71
1
1800
1
486NORTH
A V E 6
5io
0
35211
312
45
5235:00
51
10000
61
2
6960.
1
4316SEVENTH
A V E I 9
5iO
0
35214
313
45
7655:00
51
12000
61
1
6000
1
32
15
P'O
P L A R S T 4
4!2
9
19
oio
0
35218
113
45
6927\43
51
1'0500
71
1
3000
1
140WESTMINISTER
S T
35219
314
45
14810:00
51
50000
61
15
12560
1
2612MAYFAIR
S T 8 5
i
O 0
35221
314
45
6415:00
51
10000
61
5
7680
1
llllWYOMING
S T
82100
35223
1 1
42
772
9!7
5
51
10000
61
1
1
4618LEHIGH
A V E 5
2i2
7
35224
114
45
8000:00
51
14500
71
1
1
1061COMMONWEALTH
S T
30:00
35227
314
45
~
§
~
~ig
g
51
5000
61
1
2500
1
1595WARREN
A V E
24
4!8
0
12
5iO
0
35229
314
45
51
15000
61
1
4950
1
971WILSON
DR I V E
35230
114
45
3454
3i2
4
51
52500
66
6
52500
1
1975MICHIGAN
A V E
55:00
35231
314
45
40451
00
51
1'0000
61
5
7530
1
1319MADISON
A V E 4 0iO 0
35334
317
45
2960:00
51
6000
61
1
4060
1
1675RIVERSIDE
A V E
31164
35336
117
45
494811
4
51
12500
71
1
L 2
5430
L 2
6950
PROPERTY
CLASSIFICATION
REPORT
128120
LOCATION
TYPE OF I CONVENTIONAL I PURCHASE MONEY I
F.
H.
A.
I VETERANS' LOANS I
TOTAL
CODE PROPERTY I PRINCIPAL I NO. I PRINCIPAL I NO.
~
PRINCIPAL
NO.
PRINCIPAL NO. T PRINCIPAL T
NO.
I 1
Family
118.444,876.71
I 4114 1 1 1
27,505,
116.86
4879
1
22,824,404.66
1 2951 1
68
774.398.23
1
11,944
2 2
Family
3
Tenernen
4 I & 2 Fa<
Same
Pro
MORTGAGE
PORTFOLIO
5 3
or
Mor(
BY
LOCATION-KIND-DOLLAR
VOLUME
"
.\partmer
7 Ap:u1.mel
8
Hotels
CONVENTIONAL PURCHASE MONEY F. H.
A.
VETERANS' LOANS
TOTAL
9
Rooming
PRINCIPAL NO. PRINCIPAL . NO. PRINCIPAL NO. PRINCIPAL NO. PRINCIPAL
NO.
10
Clubs
11
Office
8u TOTAL PORTFOLIO:
12 Store $
1-
7,499
22,348,970.87
6,522
19,859,490.70
4,040
18,
118,235.
66
2,889
60,326,694.23
13,451
13
Stores
& J 7t
5L\.1
-
9,999
5,441,455.63
641
7,821,955.63
941
13,906,953.12
1,637
27,220,3&4.38
3,219
14
Stores
& I
10,000
-
19,999
5,299,095.66
400
1,495,762.20
134
3,705,289.
64 326 tO,5OO,
147.50
860
15
Stores & (
20,000
-
49,999
4,457,279.94
138
29,206.42
I
182,922.02
4
4,669,408.38
.143
16 Lofts
50,000
COver
10,6
2
8,718,65
85
68,051.40
1
14,849,252.
17 37
25,546,022.22
123
17
Factory
&
18 Warehous TOTAL
48,175,520.75
7,786
97,257.82
2
44,209,382.72
5,156
35,780,478.42
4,852
128,262,639.71
17,796
19
Garage-
20
Ser\'ice
<;
CITY
OF
21
Schools
1-.7,499
15,169,773.22
4,841
1,487,637.73
239
9,701,745.02
1,821
26,
3~9,
155.97
6,901
22
Churches
7,
500
-
9,999
2,269,204.03
266
779,458.36
94
6,037,354.
13
714
9,086,016.52
1,074
23
Hospitals
10.000
-
19,999
3,039,191.
82 221
31,479.42
3
1,204,611.88
105
4,275,283.12
329
24
Theaters
20,000
-
49,999
3,
105,654.20
96
29,206.42
I
3,
134,860.
62
97
25
VacantL
SO,
IX)() &
Over
3,595,866.66
32
68,051.40
I
291,653.79
2
3,955,571.85
3S
26
Farms
27
Parking
L
TOTAL
27,179,689.93
5,456
97,257.82
2
2,590,229.30
338
16,943,711.03
2,640
46,810,888.08
8,436
28
Funeral
P
29
Miscellar
OTHER COUNTY
30
Apartmer
1-
7,499
5,645,809.27
1,339
821,051.60
144
3,977,702.94
682
10,444,563.81
2,165
7,500
-
9,999
2,386,574,63
282
944,564.43
112
4,786,979.
15
556
8,
118, 118.
21
950
TOTALS
10,000
-
19,999
1,628,
108.46
132
160,954.37
15
1,876,307.32
166
3,665,370.
15
313
20,000
-
49,999
498,530.28
16
498,530.28
16
50,000
&
Over
551,225.33
6
1,464,264.87
I
2,015,.490.20
7
TOTAL
10,710,247.97
1,775
3,390.835.27
272
10,640,989.41
1,404
24,742,072.65
3,451
COUNTY
1-
7,999
1,508,176.23
330
313,145.92
54
2,231,179.81
361
4,052,501.96
745
7,500
-
9,999
752,087.40
89
386,355.72
46
3,123,147.46
366
4,261,590,58
501
10,000
-
19,999
593,384.64
44
44,629.96
4
571,465.04
51
1,209,479.64
99
20,000
-
49,999
277,398.55
9
37,301.
81
314,700.36
10
so,
IX)() &
Over
494,988.43
3
509,895.85
1,004,884.28
4
TOTAL
3,626,035.25
475
1,291,329.26
106
5,925,792.31
778
10,843,
156.
82
1,359
LOCATION
_________
_
TYPE OF CONVENTIONAL
CODE PROPERTY PRINCIPAL
liO.
NEW
LOANS
SINCE
LAST
EXAMINATION
PURCHASE MONEY F. H. A.
PRINCIPAL
NO.
PRINCIPAL NO.
VETERANS' LOANS
PRINCIPAL I NO.
TOTAL
PRINCIPAL I NO.
1
Family
5,138,294.50
781
2,709,623.63
387
5,007,773.86
613 12, SS5,
691.
99
11,781
3
~::::~~1Ir--~1CL.!:6:::.::68:...::8~3O::.!:.
2~2
~2~65___'_
___
___L
__
l__!::.19!.LI
9::=;55!:..:.
4~8___L~24!-..1__!.1L2.87~5
L!!26:!.!.:1.~85~__!2~27~..L_3~7~36~O~47~-
5e.
5
--L.-=5:!!:16~L-
__
---.
4
1&
2
Fan
Prop. I
or
5 3
or
More
(:
Apartmen
7
Ap.utmen
8 Hotels
9
Rooming
IBM TAX CONVENTIONAL
MORTGAGE
PORTFOLIO
BY
CITY
AND
TAX
DISTRICT
PURCHASE MONEY F.
H.
A.
VETERANS' LOANS
TOTAL
:~
~~~~s.
IklI--=C.:::OD:::.E-..=..:::.=:.:.t~=~+_~=_+......:..::~!.!!!:..+--!::~f___!~~:....-j___:~+_~~~_+~~---.;~!::!!::!=---~~~
DISTRICT
PRINCIPAL I NO. PRINCIPAL I NO. PRINCIPAL NO. PRINCIPAL
NO.
PRINCIPAL
NO.
I I
12
Store
I-A
419,264.50
74
93,236.23
23
512,500.84
97
13
Stores & F
I-B
460,480_ 36 37
68,051.40
61,448.33
22
589,980.09
60
14 Stores & t 2-A 798
578.73
273 8
939.09
749
461.
99
146 I
556
979.81
421
15
Stores t c
16 Lofts
17 Factory t
MORTGAGE
PORTFOLIO
18 Warehous
19 Garage
BY
INTEREST
RATE
20 Service S
21
Schools 10
22 Churches
11
IBM INTEREST CONVENTIONAL PURCHASE MONEY F.
H.
A.
VETERANS' LOANS
TOTAL
23
Hospitals
12
24
Theaten
13
CODE RATE PRINCIPAL NO. PRINCIPAL
NO.
PRINCIPAL NO. PRINCIPAL
NO.
PRINCIPAL
NO.
25
Vacant
La 14
20
2"
31,400.00
31,400.00
26 Farnu 15
27 Parking
1.<
16
30
3"
627,063.42
12
627,063.42
12
28
Funeral P 17
29
Miscellan
18 35
3-1/2"
SS6,I71.
53
693,164.19
1,549,335.72
11
30
Apartmerr
19
20
38
3-3/4"
1,279,325.71
21\5,734.
SS
1,565,060.56
TOTALS 21
22
40
4"
12,315,084.02
436
68,051.40
16,742,884.88
450
3S,
780,
478.
42
4,852
64,906,498.72
5,739
23
24
42
4-1/4"
34O,W7.26
4,057,!i57.72
5SS
4,398,264.98
593
25
26
45
4-1/2"
32,090,364_
42
7,167
29,206.42
22,342,
166.
32 40SS
54,461,737.16
11,253
27
28
50
5"
627,649.39
140
87,774.76
33
715,424
.•
15 173
29
30 60
6"
7,SS5.OO
7,
SSS.
00
TOTALS
$48,175,520.75
7,786
97,257.82
44,209,382.72
5156
35,780,478.42
4,SS2
128,262,639.
i 1
17,796
AUDIT CONTROL
Audit Control
may
be maintained
in
many ways. This particular
customer
supplies the auditing staff with
copies
of
the Mortgage Control Listing, Billing
Proof Journal and the Daily Payment Journal.
The Billing
Proof
Journal
is
in
effect
a
trial
balance and
totals
of
billed
items
are
given the Auditing Department
so
that a
simple
calculation
proves
that
all
items
listed
are
billed.
On
occasion,
the mortgage
bills
are
routed through the
Auditing Department
so
that each mortgage may be checked
as
having been billed.
Delinquent
items
are
billed each month and the mortgage
bill
contains the principal
balance. This
is
direct verification of
the
balance.
Direct
verification
is
made
on
serviced
mortgages
periodically.
Letters
are
addressed,
listings
are
prepared and
cards
are
reproduced on the Accounting Machine. This
enables'
the field auditor to
do
a fast, complete audit at the agent's office. The
letters
are
mailed
to the mortgagors with a return envelope enclosed.
Paid transaction cards
are
analyzed monthly and the
results
of
this
analysis
are
used
to
maintain a Cash Income control.
9
10
PAYING TAXES
FROM
ESCROW
ACCOUNTS
A Tax Payment Record Card
is
maintained
in
the Mortgage Tax and
Escrow
Department for each
escrow
account. This
card
is
a
facsimile
posted
visual
ledger
record
of the tax payments.
I,
I I ASSESSED VALUATION
I
BaM
NUMBER
Kip
I
DAY
I
LOCATIO'
I
~~g=~;iY
YEAR AMOUNT
TAX
DESCRIPTION
Ba
M NUMBER
TAX
DATE
CITY
COUNTY
VILLAGE
SCHOOL
OTHER
I I
I
,
I
I
I
I
I
I I I I
TAX
PAYMENT
RECORD
ESCROW ACCOUNTS
A
Tax
Debit Card
is
maintained
in
the Accounting Machine Department for each
account. This card
serves
as
the transaction card only when
large
groups
of
taxes
are
being paid. It
is
filed
in
the
order
required by the
city
or
town tax
authorities, usually tax
district
or
ward and property numbers.
I I I I I I I I I I I I
B8M
NUMBERI_I I plDAY
"OCATION~RAN~
PROPERTY
ADDRESS
ISPECI
SPECIAC
CA'\~~ATED
I ASSESSED
::c:~~.
TAX
DEBIT I ::,":.DC"
I I I I I I
II
I I I I I
~
II
:I~
I I I I I ! I I
000000000000000000000000000000000000000000000000:0
0
0:0
0
0:0
0
0:0
0 0 0
0:0
0
0:0
0
0:0
0
0:0
0 0
0:0
0
0:0
0
1234
5
61191011121314151611181920212223242526212829303132333435363138394041424344454841481495051
1
5253541
5556511
58596061621
6364651
66616816910111121314i51
16111111910
N~:B~R
~
~:;E
pD~
LOCATION
RAMS
NUMBER
PROPERTY
SATD:ERE~SS
.ARO
N::~~R
CALC:A":TED
A::ELSUSEED
BEASL~RNOC~
A;:~NT
BE:LCAR:C~
22222222222222222222222222222222
22222222222222221222122212221222221222122212221222
2:222:22
I I I I I I I
33333333333333333333333333333333
333:333:333:33333:333:333:333:3333:333:33
I I I I I I I I I
44444444444444
4 4 4 4 4
44
4 4 4 4
44
4 4 4 4 4
TAX
DEBIT
444:444:444
1
444
44
1
4 4
414
4
4144
4:4
4 4
4144
41
4 4
I I I I I I I I
55555555555555555555555555555555
5555555555555555:555:555:555:55555:555:555:555:555
5:5
5
5:5
5
I I I I I I I I I I
66666666666666666666666666666666666666666666666616
6 61
6
6~16
6
616
6 6 6
6:6
6
6:6
6
6:66616666:666
1
66
, I I I I I I I I
777777
7 7 7
77
7 7 7 7 7 7 7 7 77 77 7 7 7 7 7 7 77 77 77 7 7 7 77 7 7 7 7 7 7 7
7:7
7
7:7
7 7:77 7:77 7 77:'77
7:7
7 7:77 7:77 7 7:77
7:7
7
I I I I I I I I I I
888888888888888888888888888888888888888888888888:8
8
8:8
8
8:8
8
8:8
8 8 8
8:8
8
8:8
8
8:8
8
8:8
8 8
8:8
8
8i8
8
I I I I I I I I I I
99999999999999999999999999999999999999999999999919
9
919
9
919
9
919
9 9 9
919
9
919
9
919
9
919
9 9
919
9
919
9
1 2 3 4 5 6 1 a
910111213141516111119202122
23
24
25 26
2128
29
30
3132
33 34
35
36
3138 39404142
43
44
45
48
4148149
50
51152
53
54155
5&
5115159
6O~162163
6465166
616816910
1117213
14
75116117117910
Upon
request
of
the
Mortgage
Tax
and
Escrow
Department,
the
Accounting
Machine
Department
lists
all
the
Tax
Debit
Cards
filed
under
requested
tax
districts
or
sections.
Listed
is
the
mortgage
number,
ldnd,
period
and
day
due,
property
address
and
information
pertaining
to
the
tax
district
or
ward
and
property
number.
The
list
is
sent
to
the
Mortgage
Tax
and
Escrow
Department
and
in
turn
to
the
tax
authorities
of that
district.
They
pull
the
tax
bills
from
the
listing
and
return
the
listing
with
the
tax
bills.
The Mortgage
Tax
and
Escrow
Department
examines
the
bills
for
accuracy
and
runs
the
tax
amoWlt on
an
adding
machine
for
a document
control
tape.
The
bills
and a
total
are
forwarded
to
the
Accounting
Machine
Department.
The
AccoWlting Machine
Department
punches
the
amount of
the
tax
into
the
Tax
Debit
Card.
The
cards
are
total
printed
for
proof
to
the
adding
machine
total.
After
proof
the
cards
are
consecutively
numbered
on
the
602A.
They
are
then
sorted
into
the
same
order
as
the
Mortgage
Principal
Cards
which contain
the
escrow
balance.
The
Principal
Card
is
matched
with
the
Tax
Debit
Card
and
then
the
escrow
balance
is
reproduced
into
the
Tax
Debit
Card.
The
Tax
Debit
Card
is
crossfooted
for
the
new
escrow
balance
and
listed
for
facsimile
posting
to
the
Mortgage
Ledger
Card
which
contains
the
mortgage
payments.
While
this
crossfooting
and
listing
is
in
process
the
Principal
Cards
are
used
to
pull
the
Mortgage
Transaction
Card.
Both
the
Principal
and
Transaction
Cards
are
reproduced
and
the
new
escrow
balance
from
the
Tax
Debit
Card
is
reproduced
into
this
new
PrinCipal
and
Transaction
Card.
The
Tax
Debit
Cards
are
sorted
into
mortgage
number
order
and
listed
for
facsimile
posting
to
the
llistorical
Record
Card.
Then
the
cards
are
sorted
to
the
consecutively
punched
number
bringing
them
back
into
the
original
order.
At
this
time
they
are
listed
for
facsimile
posting
to
the
Tax
Payment
Record
Cards
and
reproduced
for
the
next
tax
payment.
The
tax
bills
and
a
total
of
the
taxes
paid
are
returned
to
the
Mortgage
Tax
and
Escrow
Department
and
one
check
is
drawn
to
pay
all
taxes.
Totals
of
the
tax
debit
by
kind of
mortgage
are
consolidated
with
the
regular
day's
work
for
entry
on
the
General
Ledger
ACCOWltS.
11
12
ADVANTAGES
The
use
of IBM
Data
Processing
equipment
for
Mortgage
Loan Accounting
brings
these
advantages:
1.
Cards
are
punched only when
mortgage
is
originated;
thereafter
they
are
reproduced
automatically.
2.
Interest
is
calculated
and
proved
automatically.
3.
Trial
balances
are
available
instantly.
4.
Regular
and
delinquent
billing
is
available
as
a
by-product.
5.
Increased
business
can
be
handled
with
little
or
no
increase
in
equipment
or
personnel.
6.
Portfolios
may
be
analyzed
as
extensively
and
as
frequently
as
desired.
7.
Records
of
transactions,
accounts,
and
statements
are
available
without
interfering
with
ledger
files.
8.
Banks
and
associations
with a high
volume
of window
payments
find
that.by
relieving
tellers
of bookkeeping functions
they
can
handle
transactions
more
rapidly,
thereby
reducing
window congestion.
9.
Mail
payments
can
be
encouraged
because
they
are
handled
in
a highly
mechanized
manner.
10. Automatic
analysis
of
escrow
accounts
can
be
made
at
any
time.
11.
The
IBM
Data
Processing
System
is
sufficiently
flexible
to
allow
tailoring
to
meet
and
solve
any
bank's
or
association's
accoWlting
requirements.
