Many times the loan originator or borrower do not know what the annual estimated taxes and hazard insurance will be.

Some origination software packages compute just a P&I. Mortgage Computer's enhancement provides the borrower with a more accurate picture of the total PITI payment as well as what the projected closing costs will be.

Costs & Escrow Reserves when set up enables all this.

ENHANCMENT

Mortgage Computer added to the packages a feature where this information is set up to be more accurate than a guess.

• Set up the percentage (%) the annual hazard insurance premium would be based on the sales price or appraised value.

• Set up the mill levy (rate per 1,000) for any state and county for the program to compute the annual property tax based on sales price or appraised value.

MC realizes within a county there could be varying insurance percentages or property mill levy. It would be almost impossible to set up for each and every hazard insurance or tax district. To set up an average county hazard insurance percentage or mill levy is a darn good guide. This is much better than no guide at all. The dollar amount is computed but can be modified if the amount is known to be more or less. With the next software release, the data that is set up in one PC can be transferred to other PC using RapidApp.