Loan Servicing

Price: $1,995 | Upgrade: contact company | Copies sold: 50 - 99
Current version: 1.8.51 | Year released: 2004 | Year updated: 2005

Documentation:
  • on-line help

Description:
The Line of Credit/HELOC module for Loan Servicing from The Mortgage Office™ fully automates the servicing and reporting requirements commonly associated with servicing and managing Home Equity Lines of Credit (HELOCs), construction loans and revolving credit lines.

Following is a brief description of some of the features available within this module:

• Assess finance charges and generate billing statements in a single step
• Calculate finance charges using daily balance, average balance, or highest or lowest balance
• Supports variable and fixed rate loans, interest-only and graduated terms
• Billing statements can be generated at any time with detailed account activity, summarized information and detailed finance charge calculation
• Set up and monitor draw and repayment periods
• Automatically recast payments during repayment period at regular intervals
• Enforces minimum and maximum draw amount limits
• Process cash advances effortlessly at any time
• Automatically generate a check to a borrower or third-party from a cash advance
• Unlimited number of trust accounts can be maintained for cash advances
• Accurately distribute mid-month cash advances to more than a single funding source or lender
• Automated transaction and cash advance fees
• Periodic account maintenance fees can be automatically assessed

Computer operating systems:
  • Windows NT/2000/XP