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Welcome to

A Total End-to-End Software Solution


Mortgage Office real estate lending software
for all the functions of a real estate lender.


Mortgage Computer Provides a Single Source

An Integrated Software Program

    No need to purchase multiple software products from several vendors. Mortgage Computer offers you a total portfolio of mortgage lending product lines called Mortgage Office Software.

Mortgage Lending Experience

    Mortgage Computer is staffed by lending professionals. You are served by a staff who understands through first-hand experience the variety of job functions and how a program must support these efforts. With this knowledge, Mortgage Computer can assist you in all areas, ensuring you a greater return on your investment and service to borrowers.

Single-Vendor Support

    You enjoy the ease of working with one company, and receive support for all functions of real estate lending. All functions of mortgage lending are automated by the same author. Screens are similar in style, modification methods are consistent.

The Flexibility and Savings of a Cross-Trained Workforce

    Cross-training of your staff becomes quicker and easier because of the consistency of screen formats. Employees become more valuable and, with less training, can work in other areas to handle high volume or cover for vacation or illness.

An Affordable System That Protects
Your Investment as You Grow

Low Initial Cost Per Workstation

    Mortgage Office Software is affordable and offers a low initial and on-going cost per workstation, while protecting your original investment. The price of the Mortgage Office Software is based on loan count.

    With a sliding-scale pricing based on loan count, smaller organizations can enjoy all the advantages of larger organizations.

Protection of Your Software Investment Dollar

    With the Mortgage Office Software, your initial investment dollar comes back to you in the form of profits from increasing your productivity. Your initial investment is applied toward the cost of any license loan count upgrades you may require in the future.

Reducing Your Hardware Investment Dollar

    All you need is your PC with Internet access and Internet Explorer 6.0 or higher to access Mortgage Office. MC will host the Web server and database server for you.

What Differentiates Mortgage Computer from Other Software Providers

  • A Vendor with firsthand experience
  • One Vendor to work with
  • One Vendor for support
  • One Vendor for training and implementation
  • One Vendor for integrated enhancements
  • A Vendor with 33 years of dependability
  • Mortgage Computer is a company looking at the entire picture, not just a single function.




End-to-End Software offering more than just a loan application.

Mortgage Office consists of two pieces:

  • Front Office Software
  • Back Office-Plus Software

  • FRONT OFFICE Where the loan application begins
    Point-of-Sale Software
    Used by loan originators
          RapidApp (Free)
          RapidApp Pro
          
    WepApp
          Used by the borrower
          Text in English and Spanish
           Hosted on your Web site

    BACK OFFICE Processing/Servicing
    Approve/Closing
    Document Printing
    Loan Closing
    Funding - Check Writing
    Warehousing
    Secondary Marketing
    Construction
    Servicing
    Credit Line/HELOC
    Pools
    Reporting


    Front Office Software
    Where the Loan Begins

      Four options for originating a real estate 1003 loan application:

      • RapidApp - Used by the originator.
      • RapidApp Pro - Used by the originator, plus printing and for DU or LP approval.
      • WebApp - Used by the borrower to apply for a loan from your Web site.
      • Loan Application
    RapidApp



      Used by Loan Originators at point-of-sale in the field, at branch offices, or main office for taking a 1003 loan application and obtaining a credit report. A copy of this program is FREE and can be given to builders, Realtors, or others to take applications and pass them on to you, the lender. The data can only be passed on to Mortgage Office Software.

      • Mortgage Calculator
        Payment
        Loan to Loan Comparison
        Interest First Comparison
        APR
        Loan Balance Projection
        Amortization
        Daily Interest
      • Could I Qualify
      • 1003 Application
      • Good Faith Estimate
      • Credit Report
      • Data passed to Mortgage Office for processing, etc.

    RapidApp Pro



      This package has all the functions of RapidApp with additional features, e.g., print a 1003 loan application or a Good Faith Estimate, submit to Desktop Underwriter or Loan Prospector for approval, or obtain a credit report.

      Used by Loan Originators at point-of-sale in the field, at branch offices, or main office.

      • Mortgage Calculator
        Payment
        Loan to Loan Comparison
        Interest First Comparison
        APR
        Loan Balance Projection
        Amortization
        Daily Interest
      • Could I Qualify
      • 1003 Application
      • Good Faith Estimate
      • Credit Report
      • Print Application Docs
      • Interface to Desktop Underwriter and LoanProspector.com
      • Data passed to Mortgage Office for processing, etc.

    WebApp Borrower

      Serving your customer makes all the difference. In this age of increasing customer expectations, use WebApp for your real estate loan requests with faster service to your member/borrower.



      WebApp is a Web-based software package residing on your Web Site for a 24/7 office for borrowers applying for a loan, to view products currently being offered, or to check what a payment would be or compare loan products for the best loan product for you.

      Used by a Borrower on the Internet

      • Text in English
      • Text in Spanish

      Easy Steps for a Borrower to Follow

      • Questions Borrowers Ask
      • Loans Offered
      • Best Loan for Me
      • Could I Qualify
      • New Loan Application

      Borrower Benefits

      • Print Could I Qualify letter to present to a seller, builder, or Real Estate Agent
      • Easy to understand New Loan Application
      • Borrower can submit directly to DU or LP for approval
      • Borrower selects payment option to obtain approval

    Back Office Processing/Servicing Software

      On all MC front-office loan origination software packages, data is easily transferred with a click to the Web-based Mortgage Office Software to complete:

      • Processing
      • Document Printing
      • Closing
      • Funding
      • Selling to Secondary Market
      • Reporting

      Common database for:

      • Processing
      • Construction
      • Servicing
      • Credit Line/HELOC
      • Reporting



    Quick Display

    • View information on active or removed loans
    • Check the status of a loan in Processing, Construction, and Servicing
    • Track application and closing documents
    • Access all the Calculator functions from one screen
    • No interruption to current process to view data on another loan

    Inquiry

    Processing




    • Track application and closing documents
    • Check the status of a loan
    • Display and/or enter any comments concerning the application
    • View the conditions that must be satisfied prior to the loan being closed

    Servicing




    • Display the payments due and the portion of the payment distributed to principal, interest, escrow, late charge
    • Check the status of a loan
    • Display all Escrow Records for the loan selected
    • View a complete History Record of all transactions for the loan selected
    • Display the Investor Record for a given loan

    Construction




    • Check the status of a loan
    • View and/or enter any comments concerning the loan
    • Display the Field Inspection Data
    • View a complete History Record of all transactions for the loan selected
    • Display the estimated and actual disbursed amount per the craft item number


    Central Index




    • Track all loans ever entered into Mortgage Office Software
    • Locate loan by Tax ID/Social Security Number or last four digits of Social Security Number
    • Stores the following:
      • Tax ID/Social Security Number
      • If the loan has a co-borrower
      • Borrower's name
      • Which program the information is coming from
      • Date of origin
      • Account number
      • Date the loan was no longer active
    When the Social Security Number is entered at the time of application, the program will search the Central Index File for a match. This is a great feature for companies that make housing authority loans, when one of the requirements is the borrower can have only one loan. It is also used by other lenders offering special one-time loans to members.

    Calculator

      Calculator is designed to provide answers, information and computations requested by borrowers. Your staff could use this section several times a day.

      Although the information is not stored in memory, the screens can be printed.

      • Calculate a Payment
      • Loan Balance Projection
      • Calculate Daily Interest
      • Amortization Schedule for:
        • Fixed
        • Flexible
        • Buydown
        • GPM
        • Interest First Loans
      • Calculate the APR for:
        • Fixed
        • Biweekly
        • Buydown
        • ARM Loans
      • Loan-to-Loan Comparison
      • GPM Modeling
    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, or a date range can be entered.

      • 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.
    Loan Application

    Rate Sheet

      The Rate Sheet displays the Product Offered types currently being offered. It includes:

      • Loan type
      • Repayment method
      • Maturity and amortization terms
      • Maximum loan amount, maximum LTV, interest rate, if PMI is available, and the discount and origination fee being charged

    Prequalify

      What Could I Afford allows the operator to enter basic income information into the program to provide the borrower with a general price range for a house they can afford.

      Could I Qualify computes the ratios to determine if a borrower qualifies.

    New 1003 Application

      A 1003 loan application can be entered using any of the front-office POS packages or here.

    Processing

    Mortgage Office has created a powerful and precise loan origination program, from the application through closing to the selling of loans to investors. Processing provides document preparation, front-end tracking for application documents, overseeing commitments issued, underwriting, secondary market commitments, loan tracking, closed document tracking, accounting for all funds, quality control, reports, cash flow preparation, 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.

    Loan Status Update

      The Loan Status Update allows the operator to review the pertinent information and progress of a loan. The screen displays 19 Status Codes along with the following major areas:

      • Borrower name, Social Security Number, property address, and phone number
      • Type of loan, loan amount, and interest rate
      • Discount and origination fees, and if the rate is locked (Hold Date)
      • Loan officer, processor, closer, and underwriter
      • Indicates if the loan is assigned to a commitment
      • Indicates if the loan is tied to a warehousing line
      • Application and closed document items pending
      • File Locator (who has the file)
      • Credit score and Recommend
      • Enter a date in Status 12 to transfer the loan to Construction
      • Enter a date in Status 13 to transfer the loan to Servicing
      • Application and Closed Document Tracking, Comments, and Conditions can be accessed from the Loan Status Update
    Import/Export

      WebApp Transfer is used to transfer loan data from the WebApp software to Mortgage Office for further processing.

      Import/Export DU 3.2 File is used to import or export loan information. The file can be transferred from or received by another software package that has gathered the data, e.g. underwriters, flood companies, mortgage insurance companies, etc.

      Export MISMO 2.3.1 File is used to transfer files to the various agencies accepting data in the MISMO format. The file can be received by underwriters, flood companies, mortgage insurance companies, etc.

    Process Request/Tracking

      This option provides centralization of loan processing from one display screen to:

      • Request:
        • Flood determination
        • Credit report
        • DU and LP approval
        • Mortgage insurance
      • Record the company the service is requested from
      • Enter the date requested and date received

      Also tracks documents needed to verify the loan application. The Loan Status, Comments, and Conditions of the loan can be viewed from this screen.

    Loan Database

      Data entered is stored in the database and can be recalled and modified. Prior to closing and funding, the final closing costs and other data can be modified and updated. Modification of data is simple, quick, and flexible. Supplemental information or multiple borrowers may be added from this selection.

      • Modify 1003 Application
      • 1003 Additional Borrowers
      • Good Faith Estimate
      • Master Record
    Approve - Closing

      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 in the Approve - Closing option are used as the underwriter is reviewing the documentation received. This option provides all the information entered in the program for review by the underwriter.

      • View Credit Report
      • Underwriting Worksheet
      • Underwriting Documents
      • Loan Terms
      • Payment Schedule
      • Conditions
      • HUD Settlement Statement
      • Underwriter Lock
    Print Documents

      This option has all the necessary features to set up and maintain document packets.

      • Print Individual Documents
      • Print Application Documents
      • Print Closing Documents
      • Print Document Packet
      • Set Up Document Packets
      • Print Blank Documents
    Closing Document Tracking

      The Closing Document Tracking program is designed to track documents for the loan file and make sure they are received. Provides the ability to track documents required after closing. Assures the loan file is complete. This important feature provides a reminder of outstanding items while ensuring no "loose ends." This program allows for separate items on each loan to be followed and indicates whether requested items have been received. Tracking label descriptions are set up by each company.

    Funding

      This program is designed to provide an accounting method to handle the receipt and disbursement of funds. In so doing it provides a reporting, controlling, and balancing of funds.

      • View Ledger
      • Funds In
        Post Entries
        Proof and Update
      • Disbursement
        View Costs
        Select Field to Pay
        How Funds Disbursed
        Approve Loan to Pay
        Balance to Close
        Select Loan to Pay
        Transactions Update
        Print Checks
      • Reports
        Print Payment Audit
        Check Register
        Account History Ledger
      • Remove Funding Ledger
    Warehousing

      Warehousing, as used by Mortgage Computer, means the establishing of warehouse credit line through a commercial bank.

      This selection is used to set up warehousing lines of credit from banks or other money sources. The terms for warehousing a loan, the bank, interest rate, due date, the percentage or dollar amount permitted to be advanced, and the warehousing line number are part of the warehousing record.

      • Warehouse Lines
      • Warehouse Interest Tables
      • Operating Functions
        Loans in Pipeline
        Warehouse Fields
        Loan Payoff Quote
        Loan Due Next 30 Days
      • Accounting
        Funds to Advance
        Daily Accounting
        Loan Paid
        Interest Summary
        Trial Balance
      • Reports
        Warehoused Loans Assigned
        Warehousing Report
        Salomon Format
        Not Sold/Warehoused
        Proposed Schedule
        Sub Line Amount
        Warehouse Banks
    Secondary Market

      This program is designed to track and record where funds are coming from for making loans. This feature indicates how much money is available and controls how much of the commitment has been committed.

      The commitment will indicate the source of money (investor), the dollar amount, terms of the commitment, commitment price, and the property conditions.

      Reports provide control and monitoring of activity on the various commitments. Loans not assigned to a commitment are Uncommitted Loans and the program offers a selection for these loans and a pricing of the loans by Mark to Market with a variety of averages, etc.

      Loan Profitability reports are to assist the lending department in determining if granting the loan has proven to be a profit-maker for the lender.

      • Source of Funds
      • Loan Terms
      • Loan Sales Input Fields
      • Uncommitted Loans
      • Locked Loans
      • Reports
        Secondary Commitment Summary
        Originator Report (Property)
        Investor Report (Property)
        Uncommitted Loan Summary (Days)
        Uncommitted Loan Summary (Range)
        By Loan Product
        By Interest Rate
        By Estimated Closing Date
        By Location
        By Branch
        By Processor
        By Status
      • Loan Profitability
        Commitments
        Analyze Commitments
        Loan Pipeline (Hold Date)
        Loan Pipeline (Status)
        Profitability Commitments Detail
      • Loan Pipeline
    Loan Sales

      The main purpose of the Loan Sales program is to transmit to the investor the information they require. Each selection performs a specific task to help set up, modify, track, report, and print schedules for the investor. Each investor has its own schedules or methods of delivering loans. Mortgage Office's Loan Sales software program tracks all loans being shipped to investors, indicating the documents were received or rejected.

      • Loan Sales Index
      • Loan Delivery Date
      • Underwriting Transmittal
      • Freddie Mac Loan Delivery
      • Fannie Mae Loan Delivery
      • Other Sales Schedules
      • Loan Status Update
    Loan Sales Reports

      The report selection contains supporting reports to the Loan Sales program.

      • Stack & Track
      • Sales Worksheet
      • Receipt of Funds
      • Servicing Number Change
      • Documents Not Approved
    Reports

      Reports provide management control. These reports are for use by all levels of management. Many are "exception" reports to provide information on only those areas of concern. All required HMDA Reporting is produced from this selection. The Custom Report option allows the operator to create reports of their own design.

      • Loan Applications
      • Loan Distribution Report
      • Application Doc Tracking
      • Application Tracking Notification
      • Application Tracking Summary and Branch Audit
      • Closed Docs Not Received
      • Closed Doc Tracking Summary and Branch Audit
      • Loan Applications Detail
      • Loan Register
      • Loans Closed (Status 11)
      • Borrower Information
      • Management Production Summary
      • Builder Volume
      • Broker Volume
      • Loan Summary
      • HMDA Reporting
        Entry - Modify Fields
        Other Source
        Reporting
    Remove Loans

      This selection is to remove one or more loans from the program, indicating it has been withdrawn, declined, closed, or funded. When removing a loan with no history or from the History file, these options are to be used.

      • Withdrawn - Remove
      • Withdrawn - Print
      • Declined - Remove
      • Declined - Print
      • Closed - Remove
      • Closed - Print
      • Funded & Brokered
      • Funded & Brokered Print
    Construction

    Construction is a software program to account for proper disbursement of borrower funds and loan proceeds. To control the 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.

    Receive Processing Loans

      Transfer loans from Processing to Construction.

    Enter New Loans

      The input of loan information in this option creates the Master Record.

    Status

      This screen provides the pertinent information for the loan. This allows quick review of the following information from the Master Record:

      • Borrower's Name
      • Loan Number and Type
      • Property Address
      • Builder Information
      • Commitment Information
      • LTV Ratio
      • Appraised Value
      • Interest Rate
      • Note Date
      • Insurance Due Date
      • Original Loan Amount
      • Loan Balance
      • Amount of Borrower Funds
      • Undisbursed Loan Amount
      • Undisbursed Borrower Funds
      • Percentage Disbursed and Complete
      • Interest Paid and Accrued
      • Total Interest Due

    History

      The option displays transactions from the Transaction History:

      • Transaction Date
      • Transaction Code
      • Amount of the Transaction
      • Reversal Date (if any)
      • Craft Code (Line Item) from Cost Breakdown
      • Amount of Disbursed Funds from Loan Proceeds
      • Check Number for the Disbursement
    Transactions

      Each selection performs a specific task:

      • Funds Input
      • Funds Disbursement
      • Interest Payment
      • Percent Available Funds
      • Loan Payoff Quote
      • Loan Payoff Entry
      • Reversals
      • Balance Proof - Modify
      • Pseudo Post
        To view before the money goes out the door how the account will look if posted.
        An excellent check prior to disbursement.
      • Update Transactions
    Checking Functions

      After disbursement has been entered, checks can be written. The data from the Transaction Register is stored for checks to be written. When checks are printed, the data is stored in the Vendor File for reporting to IRS. This information can be printed during the year for the vendor.

      • Print Checks
      • Enter Checks Manually
      • Print Check Register
    Operations

      Prepare Interest Billing Statements, view interest rate changes on variable rate loans, enter field inspection data to compare percentage disbursed to percentage completed, freeze a loan so no transactions can be applied, track documents to ensure all have been received.

      • Bill Interest Statement
      • Interest Adjustment Table
      • Inspection Data Input
        Completion by Percent
        Cost Breakdown by Craft Percent
      • Freeze Loan
      • Document Tracking
        Items Requested
        Items Not Received
    Reports

      • Checklist - QC
      • Cost Breakdown Comparison
      • Loan Master
      • Exception Reports
      • Operating Reports
      • Transaction History
      • Vendor Reports
        Vendor Detail Report
        All Vendors Report
        All Vendors With Duplicate Vendor ID

    Comparison Input

      In this selection, the operator enters the data for a proposed build job. The program compares the craft disbursement ratios to the selected profile ratios and prepares a printout by craft and square footage costs.

    Loan Database

    • Master Record
      Quickly and easily enter or modify the Master Record fields.
    • Cost Breakdown - Profile
      Use this selection to set up the various profiles for the different cost breakdowns. A "profile" is the percentage per line item cost on a set cost breakdown compared to a typical cost to construct the property.
    • Print Modify Audit
      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.

    Remove Loans

      A program has been provided to remove a loan entered in error without making disbursements. A printout of the data can be run. The loan is removed with no accounting or year end information retained.
    Servicing

    The purpose of this program is to automate the 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
    • All Functions of Escrow Handling
    • Collections
    • Loss Mitigation
    • Bankruptcy Control
    • Foreclosure Control
    • IRS Reporting
    • FASB

    Transactions

      Mortgage Office's Servicing software program makes processing payments organized, automated, and efficient. These steps will be performed monthly on each loan until the loan is paid in full.

      • Payment Entry
      • Reversals
      • Loan Payoff Quote
      • Loan Payoff Entry
      • ACH Automatic Payments
      • Proof - Close to Update
      • Transactions Update
      • Transaction Codes
    Servicing Routines

      Reports and functions for the day-to-day servicing of the portfolio are accessed through this section.

      • Payment Advice
        Billing and Receipt
        Coupons
        Automatic Billing Notice
      • Periodic-Annual
        ARM-Variable Adjustment
        Tax Request (Hard Copy)
        Verify SSN Notices
        Disclosure Statement
        Payment Advice (All Loan)
        Password Notice
    Credit Bureau Reporting

      Option to report delinquencies to the credit bureau.

    Customer Service
      • Amortization Schedule
        View and/or print an amortization schedule for the borrower
      • Borrower Loan History
        Used to notify borrowers of their loan activity for a specified period.
      • Add/Modify Letters
        Create or modify letters to be sent on any loan in the Servicing program.
      • Print General Letters
        Print letters set up in the program.
      • Loan Assumption/Verification
        This section is for preparing data from the Master, Escrow, and History Records for a possible assumption or for verification of a loan being serviced.
      • Loan Payoff Quote
        This section computes the payoff quote for a specified loan account.
      • Loan Progress
        This program is used to determine the future loan balance (loan progress) at any given date. This can be used when borrowers inquire as to what the loan balance will be at the date of a balloon payment type loan or a review type loan, etc.
    Listings
      • Alpha Listing
        Lists the loans in your portfolio alphabetically and indicates the account number for each.
      • Loan Type Listing
        Used to generate lists of different loan types: Buydown Loans, DDA Accounts, Payroll Accounts, ACH Accounts, ARM Loans, Balloon Loans, Negative Amortization Loans.
      • Numeric Listing
        Lists the loans in your portfolio numerically by control number. Cross-referenced by name for each account.
      • Payment Constants
        Lists the account number, name, total payment, P&I, total escrow portion and the constant for each individual escrow type.
    Reports
      • Audit Frozen Loans
        Includes all loans with a Freeze Code. Categorizes all the loans in the soft, regular, and hard freeze together. Loans are listed by account number, code, reason frozen, name principal, balance, and interest paid to date.
      • Loan Adjustment Exceptions
        Indicates adjustable rate loans that might have incomplete information entered. Also indicates if past an adjustment or review date.
      • Loans Paid in Full
        Lists all loans paid in full.
      • Master Tickler Dates
        Provides for the printing of ticklers using several of the date fields in the Master Record. The operator can choose the number of days for the tickler to check.
      • Matured Loans
        Lists all loans that have reached maturity at the time the report is run.
      • PMI Report
        Provides a report for each PMI company. Lists the loans by policy number, account number, short name, current LTV, PMI percentage guaranty, next payment date, amount to pay, monthly constant, and present balance
    Investor Reporting

      This section is for remitting money received on loans serviced for investors and for producing month-end cutoff reports.

      • Interim Remittance
      • Cutoff & Remittance
      • Cutoff Data
      • Archived Interim
      • Archived Cutoff
      • Investor Verify
      • Freddie Mac Reporting
        Create Loan Level File
        Print Loan Level File
      • Fannie Mae Reporting
        Create SURF File
        Create Biweekly A/A Interim File
        Create Delinquency Reporting File
        S/S Balance Report
        Biweekly A/A Spreadsheet File
    Escrow Accounts

      Accounting for funds placed in Escrow has to be accurate and safeguarded. Furthermore, disbursement of funds has to be timely, with complete reporting to the borrower of funds received and disbursed.

      • Review or Modify
      • Escrow Interest
      • Tickler Report
      • Escrow Tickler Notices
      • PMI Termination
        Eligibility to Request Cancellation Tickler
        Automatic Termination Tickler
        Eligibility to Request Cancellation Tickler Delinquent
        Automatic Termination Tickler Delinquent
        77% Tickler - High Risk
        Midpoint Tickler (Amort)
        Loans Now Current
        Notice of ARM Qualification
        Termination Notice
        Grounds Not Cancel
        Grounds Not Terminate
        PMI - Records
        Compute PMI Stop Date
        PMI Terminated
      • Approve to Pay
      • List of Approved Escrows
      • Select to Pay
      • Update Checks
      • Reprint Check Register
      • Reprint Check Detail
      • Analysis
        Portfolio Analysis
        Excess/Shortage
        Past Projection
        Individual Analysis
      • Miscellaneous Menu
        Escrow Exceptions
        List All Escrow Accounts
        Escrow Types
        Escrow Account History
        Escrows by Dealer
        Approve Monthly Escrows
        Remove Approved to Pay
    Collection Accounts

      This feature of the Mortgage Office Software will save 40% of the collector’s time over a manual system. The data is automatically stored and collection cards are no longer used.

      • Single Account
      • Assigned Collector
      • Collection Area
      • Control
      • Delinquent Days
      • Bankrupt Loans
      • Letters/Notices/Reports
    Loss Mitigation Tracking

      This selection enables the person handling Loss Mitigation to keep track of items that must be performed by a specified date.

    Bankruptcy Control

      Bankruptcy Control provides the accounting and control of borrowers who have filed for bankruptcy.

    Foreclosure Control

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

    Risk Profiler

      Risk Profiler is a behavioral scoring model Fannie Mae developed to predict the likelihood of a mortgage going into foreclosure or becoming an acquired property within two years. Fannie Mae's model can develop a risk profile score for any current or delinquent mortgage based on several key elements - the borrower's mortgage payment history, other credit characteristics from the borrower's credit report, and the current value of the security property. Since Risk Profiler can predict the risk for each mortgage with a high degree of accuracy, a servicer now has another effective loss mitigation and servicing tool at its disposal.

    EarlyIndicator

      EarlyIndicator is a program developed by Freddie Mac that incorporates statistical models designed to reduce credit losses, increase the efficiency of servicers' delinquency management operations, and help borrowers avoid foreclosure. By implementing the EarlyIndicator score into your monthly call campaign and loss mitigation strategy, you can focus your attention on the mortgages that pose the greatest risk, effectively prioritizing your monthly call program campaign and loss mitigation activity.

    Loan Database

      The Loan Database contains all of the borrower’s loan data, addresses, loan type, ARM adjustment dates, payment codes, etc., plus investor and escrow information.

      • Master Record
      • Investor Information
      • Escrow Information
      • Buydown Table
      • Payment Adjustment Table
      • Escrow Effective Date
      • Other Liens
      • Transfer Escrow Amounts
      • Additional Borrowers
      • Assumption/Name Change
      • Assumption Inquiry
      • Print Modify Audit
      • Print Loan Data
    Transfer - New Loans

      • Receive Processing Loans
        Use this option to receive loans from the Processing program.
      • Enter New Loans
        This selection is for manually entering a new loan into Servicing that did not originate with the front-office POS package.
      • Print New Loans
        This selection is for printing data fields on a new loan. All loans entered into the program are put in the print queue and a master audit sheet is printed.

    Number Change/Remove

      The Servicing program is designed to allow a loan number to be changed. The data in the Master, Investor, Escrow, and History records is transferred to the new loan number. A loan that has been paid in full can be removed. This selection also permits a loan to be removed that has not been paid, such as a foreclosure or loans sold/servicing released.

      • Number Change
      • Number Change Report
      • Removed - Paid in Full
      • Removed - Paid in Full Report
      • Removed - Not Paid
      • Removed - Not Paid Report
      • Sold Servicing Released
      • Sold Servicing Released Report
    Credit Line

      Mortgage lenders have expanded services to meet borrowers' loan requests by offering lines of credit. The Credit Line program offers three different programs:

      • Commercial Credit Lines
      • Home Equity Credit Lines
      • The new Home Equity Conversion Mortgage (Reverse Equity Loan)

      The Credit Line program controls the drawing of funds and the repayment schedule. Servicing controls the ARM adjustments and the servicing of the loan.

      The features of the package:

      • Automatically passes the new loan balance to Servicing
      • Adjust 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

    Pool Disbursement

      Some investors prefer to buy into a pool of loans guaranteed by Ginnie Mae, Fannie Mae, or a private investor.

      The accounting of funds collected in Servicing is passed internally to the Pool Disbursement program. Pool Disbursement distributes funds to the various certificate owners of the loan pool.

      • Accounting of funds for MBS (Mortgage-Backed Securities)
      • Designed for GNMA I & II, MBS Fannie Mae Scheduled/Scheduled
      • Serial Pool accounting
      • Private Investors
      • Record of each certificate holder
      • Statements of funds received and disbursed
      • Check writing - principal and interest to Certificate Holders
      • IRS reporting 1099-INT
      • Pool reconciliations
      • Management reports and control
      • Ginnie reports and tape programs
      • Advance and Recovery features

    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.

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

    The File Organization is used 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.

    The Document Compliance selection 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.

    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 receivables, interest, late fees, escrow funds, etc.

    Programs offered by other software providers, i.e., checking, savings, can be linked to the functions of Mortgage Office Software using the Data Transfer/Receive option.

    Information generated from the Mortgage Office Software programs is automatically passed to the General Ledger with no waste of time re-entering the information.

    Audit Center

    This section is primarily for the use of the accounting department. 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 or 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 done by the auditor.
    • Modifications to employee loans are highlighted.

    Management Reports

    Reports provide management control. These reports are for use by all levels of management. Many are "exception" reports to provide information on only those areas of concern.

    Master Servicing

      Under construction.

    GL Package

      Under construction.

    Messages

      Under construction.

    File Locater

      Under construction.

    Report Writer

      Report Writer, an easy-to-use report generator, provides access to a multitude of fields, including status codes and custom fields, to design your own custom reports. Reports are designed to be displayed and printed with breaks and totals. The text file created is suitable for importing to spreadsheets or database programs.

    Custom Reports

      The menu option for specialized/custom reports requested by a company.

    Maintenance

    The selections on this screen take full advantage of the power that Mortgage Office Software can provide.

    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.

    • Company - Company and Branch Information, State and Country Codes
    • ScrolEx Setup - Set up multiple entries for loan officers, underwriters, lenders, etc.
    • Processing - 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 by the checking and savings system to Mortgage Office.

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

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

    Common RFP Questions

    An In-Depth Look at Common RFP Questions

    Hardware

    Terminals/Workstations

      Windows XP or higher operating system with all current critical updates installed. Internet Explorer 6.0 or higher (7.0 recommended) with all current critical updates installed. High-speed Internet connections (T1, DSL, Cable, etc.) that will support bandwidth for Web-based applications and other daily operations including e-mail and browsing. Hardware to support recommended requirements by operating system vendor.

    Printers

      Any Windows-compliant printer that supports graphics including Laser, DeskJet, and some Impact printers can be used with Mortgage Office Software. A Laser printer that allows letter and legal size paper to be concurrently loaded is recommended for Processing document printing.

    Communication

      WebEx is used for support of Mortgage Office Software customers. This allows remote diagnostics, support, and training over an Internet connection.

    Other Vendors' Software Interface Status

    Purchase Mortgage Office Software and interface
    to your checking, savings, and GL system today!

    Mortgage Computer's "Data Transfer/Receive" passes data between
    the Mortgage Office Software and any third-party software.


    Updated June 1, 2007 at 9:07 a.m.