OpenNet Provides Custom Reporting for Lenders, Lender Servicers

Fall-2004 enhancements for the OpenNet loan-delivery system will include custom-reporting features for lenders and lender servicers. The new reporting feature includes many of the same functions available to schools, including the ability to export report results and the option for report results to be e-mailed to the lender. All lender and lender-servicer OpenNet users automatically will have access to the custom-reporting feature beginning Nov. 22, 2004.

Data-level security is in place for all reports run in OpenNet. This means that the lender or lender servicer may view data for their own lender codes only. Reports can provide up to two years of historical data.

Lenders will be able to access predefined reports for loan and disbursement data or to customize reports based on specific criteria defined by the user. The reports will include data from Federal Family Education Loan Program (FFELP) loans only.

The new reporting feature is accessible through "Create Custom Reports" in the "Query and Reporting" menu option.

From there, OpenNet navigates to "Custom Report Management," which displays options to perform the following tasks:

• Retrieve previous reports.
• Run predefined loan or disbursement reports.
• Create new loan or disbursement reports.
• Create custom reports using advanced options.

When users choose to create a new loan or disbursement report from the "Custom Report Management" page, OpenNet directs the user to the "Custom Report Definition" page. This page allows users to enter specific data — filter criteria — to be included in the report. In addition, users must indicate how they want the report to display and sort.

The "Advanced Custom Report Management" page contains options for OpenNet users to manage their reports. For example, the page allows the user to create a new report by copying data from existing predefined or custom reports with a new name and description. Advanced options also allow the lender's or lender servicer's OpenNet administrator to manage viewing rights for specific reports.

Report results display in the "Custom Report Results" page. From this page, users have the option to modify the report, view a summary page, or export the report into Excel or as a Comma Separated Value file.

For more information about lender custom reporting in OpenNet, contact your USA Funds^® Services representative or call electronic services at (800) 348-4606.