Overview of Underlying Summit Excel Database

Learn how to navigate and interpret the key fields, dynamic data, and specific loan identifiers in the Summit Excel-based BI database for transaction management.

May 28, 2026 By Eddy Kup

This guide provides an overview of the underlying Excel-based BI database that drives the Summit transaction management system, explaining key columns and how to interpret loan-level data. The goal is to help you accurately track, filter, and manage property acquisitions and securitization variables.

This guide is intended for analysts, data managers, and secondary marketing teams who maintain and verify loan data during asset acquisition and diligence workflows.

Exploring the BI Tape Columns

Loan Identifiers and Diligence

The spreadsheet contains various identifiers used to track and tie reports to diligence vendors.

RMS ID / M3 ID: The primary flat loan numbers.
Servicer ID / Diligence Vendor ID: Use these to tie output reports to specific diligence vendor data.

Acquisition Flow of Funds (FOF)

When reviewing the settlement schedule (FOF), you need to identify the exact purchase price (excluding accrued interest and costs) and the Unpaid Principal Balance (UPB) acquired at that time.

Step #1: Double-click on the Warehouse Financing Vehicle column header to view funding banks. — Double-click on the **Warehouse Financing Vehicle** column header to view funding banks.

Securitization Vehicles

Identify the investor funds and securitization vehicles backing the deals. For example, ASPIDA provides permanent financing without requiring warehouse financing from banks.

Step #2: Open the filter dropdown on the Expected or Current Securitization Vehicle column. — Open the filter dropdown on the **Expected or Current Securitization Vehicle** column.

Step #3: Select an investor fund such as ASPIDA to view loans backed by their insurance capital. — Select an investor fund such as **ASPIDA** to view loans backed by their insurance capital.

Sellers vs. Originators

Sellers and originators are distinct. A single aggregator (seller) might have a variety of different originators associated with their loans. Ultimately, the correct originator name is found in the Third-Party Review (TPR) data.

Step #4: Open the filter menu on the Seller column to isolate aggregators. — Open the filter menu on the **Seller** column to isolate aggregators.

Step #5: Open the filter menu on the Originator Name column. — Open the filter menu on the **Originator Name** column.

Step #6: Select a specific originator such as Amwest from the filter list. — Select a specific originator such as **Amwest** from the filter list.

Step #7: Click OK to apply the filter. — Click OK to apply the filter.

Tracking Trade Dates and Closing Dates

When a trade is locked in, the Trade Date never changes. However, the Target Close Date updates dynamically on a loan-level basis as sellers split trades into multiple fundings or as loans get dropped.

Filtering Unclosed Loans by Paid Through Date

The Paid Through Date at Acquisition reflects the Interest Pay Through Date (IPD) seen on the settlement schedule. You can use this column to quickly identify loans that have not yet had a settlement.

Step #8: Open the filter menu on the Paid Through Date at Acquisition column. — Open the filter menu on the **Paid Through Date at Acquisition** column.

Step #9: Deselect the (Select All) checkbox. — Deselect the **(Select All)** checkbox.

Step #10: Check the Blanks option to filter for loans missing a paid-through date. — Check the **Blanks** option to filter for loans missing a paid-through date.

Step #11: Click OK to isolate the population of unclosed loans that need to be updated. — Click OK to isolate the population of unclosed loans that need to be updated.

Standard Non-QM Data Fields

Everything to the right of the seller loan data contains standard fields required to track and price Non-Qualified Mortgages (NQMs).

Citizenship and Foreign Nationals

Step #12: Use the Citizenship column to assign the appropriate residency status. — Use the **Citizenship** column to assign the appropriate residency status.

Citizenship Status	Description
US Citizen	Standard US citizenship status.
Permanent Resident	Green card holders.
Non-Permanent Resident	Individuals residing in the US with a visa.
Foreign National	Triggers the "Yes" flag in the Foreign National column.

Loan-to-Value (LTV) vs. Combined LTV (CLTV)

Compare LTV and CLTV to identify junior liens.

If CLTV matches LTV, there are no junior liens.
If CLTV is higher than LTV, the property likely has another lien (junior lien).

The CLTV can never be mathematically lower than the LTV.

Purchase Price Discrepancies

Loans marked with a "Purchase" loan purpose should always have an associated purchase price. If they don't, this indicates a data discrepancy.

Step #13: Check the Purchase Price column for $0 or blank values on loans where the purpose is listed as purchase. — Check the **Purchase Price** column for $0 or blank values on loans where the purpose is listed as purchase.

Property and Occupancy Types

Differentiate property occupancies carefully. Investment properties and secondary homes are both considered non-owner occupied, but they carry different risk profiles and must be bifurcated for NQM pricing.

Ratios and Debt Service

Different ratios apply depending on the loan and property type:

Ratio Type	Description
Front-End DTI (Top Ratio)	Evaluates the borrower's debt-to-income ratio using only the specific mortgage debt.
Back-End DTI (Bottom Ratio)	Evaluates the borrower's debt-to-income ratio including all other existing debt service.
DSCR (Debt Service Coverage Ratio)	Evaluates property cash flow rather than personal income; used primarily for investment properties.

Alternative Document Types

Step #14: Filter the Doc Type or Sub Doc Type columns to view underwriting documentation standards. — Filter the **Doc Type** or **Sub Doc Type** columns to view underwriting documentation standards.

Document Category	Examples
Bank Statements	12-month or 24-month bank statements used for income verification.
Alternative Docs	WVOE (Written Verification of Employment), retirement income, or tax returns.
Business P&L	Business profit and loss statements or business tax returns for self-employed borrowers.

Step #15: Select Other Alt Doc to view loans underwritten with non-traditional documentation. — Select **Other Alt Doc** to view loans underwritten with non-traditional documentation.

Pool Deliveries and Minimum Delivery Percentages

Some bids might add $200 million worth of loans to a pool but only require $100 million to be delivered.

Step #16: Check the Minimum Delivery column to see the required delivery percentage (e.g., 50%) for the pool. — Check the **Minimum Delivery** column to see the required delivery percentage (e.g., 50%) for the pool.

Q: Why is there no purchase price for a loan marked with a "purchase" purpose?

A: This is a data discrepancy that occasionally occurs on the tape. These should be flagged to the team using "See Something, Say Something" (SSSS) emails.

Q: Why are the ASPIDA cells marked as N/A for warehouse financing?

A: ASPIDA relies on their own insurance partners to fund deals without needing temporary warehouse financing from a bank or asset-backed securitizations.

Q: Does a trade date change after a trade is locked in?

A: No, the trade date never changes. However, the target close date will often be updated dynamically on a loan-level basis.

Q: How do you identify if a loan has a junior lien?

A: Compare the Loan-to-Value (LTV) and Combined Loan-to-Value (CLTV). If the CLTV is higher than the LTV, there is likely a junior lien attached to the property.

Term	Definition
NQM (Non-Qualified Mortgage)	A type of home loan that does not comply with the standard borrowing guidelines set by regulatory agencies.
UPB (Unpaid Principal Balance)	The portion of a loan's principal that has not yet been paid back to the lender.
FOF (Flow of Funds)	A settlement schedule detailing the exact purchase price and amounts transferred during an acquisition.
IPD (Interest Pay Through Date)	The date through which interest has been successfully paid on a specific loan.
DTI (Debt-to-Income)	A personal finance metric that compares an individual's monthly debt payments to their monthly gross income.
DSCR (Debt Service Coverage Ratio)	A metric used in investment property lending that measures a property's cash flow against its debt obligations.
TPR (Third-Party Review)	An independent evaluation process used during due diligence to verify originator and loan data.
ARM (Adjustable-Rate Mortgage)	A home loan with an interest rate that can change periodically over the lifetime of the loan based on specific indices.
LTV (Loan-to-Value)	An assessment of lending risk that compares the initial loan amount to the appraised value of the property.
CLTV (Combined Loan-to-Value)	The ratio of all loans on a property, including any junior liens, compared to its appraised value.