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Mortgage Office - Back Office

Processing
Construction
Servicing
Credit Line
Comments

Processing

Mortgage Office has created a powerful and precise loan origination program, from the application through closing to the selling of loans to investors and transferring the data to Servicing.

Processing provides document preparation, front-end tracking for application documents, underwriting, secondary market commitments, loan tracking, closed document tracking, funding, quality control, reports, cash flow management, and management reports.

Each option represents a function performed in the lending process. All selections are integrated and reside in one place where they can be accessed by everyone. There is never a need to re-enter or transfer data to other workstations.
 

Construction

Construction is a software program to account for proper disbursement of mortgage loan funds granted for new building purposes or extensive remodeling of already existing structures. It is more than merely a check-writing disbursement program.

Costs can be monitored and compared to the cost breakdown and property inspections to assure funds are not advanced before the work is completed.

This is a practical, workable program for construction loan disbursement.

Transactions

Each selection performs a specific task:

  • Funds Input
  • Funds Disbursement
  • Interest Payment
  • Percent Available Funds
  • Loan Payoff Quote
  • Reversals
  • Pseudo Post
    To view before the disbursement how the account will look if posted. An excellent check prior to disbursement.
  • Update Transactions
 

Servicing

This program automates all functions of Servicing. The Servicing program is designed for making work flow faster, less tedious, and more enjoyable.

Servicing provides the functions needed to service various types of loans and investors.

  • Easy Payment Entry
  • Cash Balance and Proof
  • Transaction Updating and Register
  • Investor Interim Remittance
  • Payoff Quotes
  • Collections
  • Bankruptcy Control
  • Foreclosure Control
  • IRS Reporting
  • FASB
  • All Functions of Escrow Handling

Collection Accounts - Saves 40% of the collector's time over a manual system. The data is automatically stored and collection cards are no longer used.

Bankruptcy - Provides the accounting and control of borrowers who have filed for bankruptcy.

Foreclosure - Offers various options for tracking and reporting on loans in your portfolio that are in foreclosure.
 

Credit Line

Mortgage lenders have expanded services to meet borrowers' loan requests by offering lines of credit. The Credit Line program controls the drawing of funds and the repayment schedule.

The features of Credit Line include:

  • Automatically passes the new loan balance to Servicing
  • Adjusts monthly payment based upon loan balance or interest rate
  • Payment notice to borrower
  • Skip payments
  • Minimum draw
  • Minimum payment
  • Fee charges
  • Prepare statements or transfer the data for use in consolidated statements

Comments

This selection allows comments to be entered and modified for any loan stored in the program. All comments for a loan can be displayed and printed.

  • Displays the borrower's name, the date and time the comment was entered and by whom, and the program (Processing, Servicing, Construction).
  • The date, time and User ID will be entered automatically by the program upon modification of a comment.
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