Compliance Audit

After all verifications have been received and the documents are in the file, the loan is ready to be reviewed by the underwriter.

The selections included in Underwriting are used as the underwriter is reviewing the documentation received to approve the loan. This option provides all the information entered in the program for review by the underwriter in a systematic method.

Fraud Detection option alerts the lender to possible false claims on the 1003 loan application.

Loan Review - File Organization is to indicate the stacking order of the file. This selection is to be used to verify the file organization and that all documents are in the correct place and order in the file.

Document Compliance section is to set up what management wants the Quality Control Department to review and verify to assure the proper documentation is in the loan file. On the screen you have the option of indicating whether the documents are complete or missing.

Audit Center

This section is for the use of quality control and auditing departments. It is designed so the reports from various functions are all in one section. The need to go from one package to another and in and out of menu selections is eliminated.

• The Audit Center menu displays the reports available from all packages requested by auditors.
• This feature makes it easy for your auditors (in-house and external) to print reports without interrupting employees.
• The employee saves time by not having to show the auditor. Employees are not aware of what is being viewed by the auditor.
• Modifications to employee loans are highlighted.
• Modifications made to a Loan Record are stored in the Print Modify Audit queue. The report includes the old and new value, the date the change was made, and the operator's name.
• All pages of the Transaction Register are serial numbered as a control that pages, which could show irregularities, are not being destroyed.
• A record is maintained of data fields in the Master Record that have been modified. The record indicates the field, time, date and user who made the modification. One can search the Modify Audit by: All Accounts, Single Account, Account Range or by User.

Accounting

All companies have to account for money received from the borrower for application fees, credit reports, appraisals, disbursement of loan proceeds at closing, payments to notes of receivables, interest, late fees, escrow funds, etc.

General Ledger is to set up the general ledger accounts to post directly to MC GL accounts for the various programs affected when monetary transactions are posted.

Each of the Mortgage Office packages provides a Transaction Register with a summary of activity that indicates which GL account the totals should be posted.

Reconcile Cashbook is for balancing all checking and custodial accounts.

Management Reports

Reports provide management control. These reports are for use by all levels of management.

The "exception" reports provide information on only those areas of concern. MC provides "Management by Exception".

Maintenance

The selections in Maintenance take full advantage of the power that Mortgage Office Software provides.

Common data used is set up and maintained from one centralized section. Proper and full usage of the Maintenance section will increase productivity and reduce the possibility of errors.

• ScrolEx Setup - Set up multiple entries for loan officers, underwriters, lenders, etc.
• Company - Company and Branch Information, State and Country Codes
• Processing - Products Offered, Tracking Labels, Margin-Interest Tables, Costs & Escrow Reserves
• Construction - Cost Breakdown Profile, Field Description Labels
• Servicing - Standard Fields, Escrow Dealers, Field Labels, Collections

Data Transfer/Receive

Data Transfer/Receive is an interface to pass information back and forth between your checking and savings system and Mortgage Office Software.

All loan payments posted by tellers for the day are grouped into a teller payment file and passed to Mortgage Office.

Build a billing file for loans with payments due that qualify for the automatic payment from a checking account.

Build a data transfer file containing GL and transaction history information. This data can be merged with other software vendor's data to provided a consolidated statement.