Build Release Notice

Introducing the Latest Build for Version 1.9.19 of The Mortgage Office™
Builds are updates and enhancements to The Mortgage Office™ that are made available to you in between major product version releases. These build releases can help prevent or fix problems, improve how your system works, or enhance your user experience. They should be installed as soon as possible to prevent or repair known problems.

You may download the update from this site, or if you prefer to receive a CD-ROM by mail, please fill out, sign, and submit a Software Update Request form via U.S. mail or fax. The requests will be processed in the order received. As always, we welcome your comments and suggestions regarding the quality and usefulness of our products. Your comments help us improve our products to better meet your needs.

Thank you for your continued support of The Mortgage Office™.

Best Regards,
ABS Software Development Team

Commercial Lending. This state-of-the-art, optional module provides the necessary functionality to successfully service and manage commercial loans. It fully automates the entire loan lifecycle.

Managing commercial loans is an involved and labor-intensive process. Now there is an efficient, affordable and easy-to-use solution to help you mitigate the risks commonly associated with servicing these types of loans while at the same time providing the flexibility to increase your servicing portfolio without additional overhead costs. The system operates in real-time giving you complete flexibility in controlling billing of interest and loan charges, and posting borrower payments and accurately disbursing funds to lenders.

Sample Screen Shots

The following list is just a brief description of some of the features available in this new module:

• Comprehensive, easy-to-use system to manage any type of commercial loan
• Fully automated interest charge assessment and billing process
• Supports variable and fixed rate loans, interest-only and graduated terms
• Fully automated lender participation accounting and distribution of funds
• Fully integrated with the Trust Accounting module
• Disburse funds via EFT/ACH, computer-generated check or manual check
• Quickly and effortlessly void, reverse or delete any transaction
• Produce year-end 1098 and 1099-INT tax statements or file magnetically
• Flexible billing cycles and ability to asses interest charges based on daily, average, lowest or highest balance for period
• Loans can be incrementally funded with unlimited number of funding sources or lenders
• Automated transaction and loan funding fees
• Periodic account maintenance fees can be automatically assessed
• Complete and detailed history of fundings, billings, disbursements and borrower payments
• Attractive, detailed and easy-to-understand borrower billing statement
• Produce a borrower statement of account at any time
• Billing statements can be automatically attached to the loan file when printing, as well as printed, e-mailed to multiple recipients or both.

Mortgage Pool Servicing (Capital Based Model). The pool distribution assistant has been redesigned to allow the user to generate distributions by entering an interest rate or a total amount to be distributed.

CAM - Constant Amortization. The Mortgage Office™ now fully supports CAM amortization. The CAM is one of the most straightforward financing tools available. In a nutshell, the borrower pays interest on the remaining principal, plus a fixed amount towards principal. Thus, there is no negative amortization.

Loan Terms / Options

Loan Terms / Details

Construction Lending and Lines of Credit (HELOC). Both modules have been updated to automate the emailing and attachment of billing statements.

Billing Assistant

Enhanced User Security. The security module of The Mortgage Office™ has been redesigned to support industry standard security and access restrictions. The following is a partial list of enhancements:

• Minimum password length. Use this option to enforce the least number of characters that a password for a user account may contain.
  
  
• Maximum password age. Use this option to enforce the period of time (in days) that a password can be used before the system requires the user to change it.
  
  
• Passwords remembered.  This setting determines the number of unique new passwords that have to be associated with a user account before an old password can be reused. This setting enables administrators to enhance security by ensuring that old passwords are not reused continually.
  
  
• Enforce password complexity requirements.  Select this option to enforce password complexity requirements. If enabled, passwords must contain characters from three of the following four categories:
  1. Uppercase characters (A-Z)
  2. Lowercase characters (a-z)
  3. Numbers (0-9)
  4. Non-alphabetic characters (for example, !,$,#,%)
     
     
• User must change password at next login.  Select this option to force a user to change their password at next login.
  
  
• User account lockout policy.  This option disables a user account for a specified number of minutes if an incorrect password is entered a specified number of times over a specified period. This setting helps to prevent attackers from guessing users' passwords, and decrease the likelihood of successful attacks on your system.
  
  
• Security Profile Report. This report generates a report outlining a user's security profile, including the complete access rights tree.
  
  
• Export to Excel. The user's grid now supports our standard Excel export functionality.

Sample User Security Screen Shots

Sample User Security Profile Report

Loan Origination Addendums. We have added an addendums component to our Loan Origination module that allows you to create loan specific addendums by easily creating a brand new document or using an existing word document.

Addendums Grid

The following are some of the benefits:

• Easy to Use.   With a few clicks you can easily create an addendum. You have two options of creating an addendum, you can start with a blank document where you can easily type or paste your addendum or simply browse for an existing document on your computer and select it.
  
  
• Powerful.   Using our exisitng Microsoft Word mailmerge technology you can add data from your loan (i.e. loan amount) onto your addendum using our easy to use mailmerge add-in module.
  
  
• Integrated.  Once you're ready to print your loan documents the list of documents in your print documents folder will contain all of your loan documents along with any addendums you have created.
  
  

Loan Origination Texas Documents. We now have a residential document package available for the state of Texas.

Prevent Check Fraud with Positive Pay. Trust Fund Accounting has been enhanced with a new free module: Positive Pay.

What is Positive Pay? Positive Pay for The Mortgage Office™ is a powerful, yet very simple process in check fraud prevention. While each bank may utilize Positive Pay in slightly different ways, the general idea is universal:

Upon completion of a check run, a company prepares a "checks issued" data file (including check number, amount and date, as well as other bank and account information) and transmits this data to their bank. Voided, Rejected, Cancelled and Manual checks can also be included in the file.

When checks are presented for payment against an account protected by Positive Pay, the check information is compared to the "checks issued" file. Checks presented for payment that fail to match with checks issued by the company are rejected. The bank then presents a list of "suspect checks" to the company for "pay/no pay" decisions. These “suspect checks” are resolved before the bank authorizes payment. The company may reject any checks it believes to be fraudulent.

Positive Pay File Assistant

Benefits. By coordinating with their bank via Positive Pay, a company can eliminate the main cause of check fraud.

Bank File Formats. Unlike ACH transactions, there is no standard positive pay file format. Each bank will have its own file format, so it is important that a positive pay file format is selected. If the The Mortgage Office™ does not currently support your bank's file format, one can easily be added for a nominal fee.

Lender Funding Letters. You may now select and print letters to all funding lenders in a loan directly from the loan's funding window or primary borrower window.

Loan Origination Navigation History. In the bottom left corner of your loan file you'll see that we have added a new "Navigation History" panel. This panel will now keep track of all of the areas you visit in the loan while you are working and give you the ability to move back or forward just like you are able to do in your internet browser.

California Hard Money Loan Validation Report. This page, and the associated report, show the results of a variety of validation tests performed that were determined to be critical in the production of loan documents. On the form we will allow you to suggest your ideas and comments on additional validation tests that could be performed.

Dennis Doss' New Servicing Agreements. Dennis Doss' five new servicing agreements are now available as an add-on module to our California hard money loan origination package.

• Standard Single Investor Loan Servicing Agreement (DL-1)
• Standard Single Investor Loan Sale And Servicing Agreement (DL-2)
• Standard Multi-Investor Loan Sale And Servicing Agreement (DL-3)
• Standard Multi-Investor Loan Sale And Servicing Agreement With Contingent REO Operatiing Agreement (DL-4)
• Standard Multi-Investor Loan Sale And Servicing Agreement With Limited Power of Attorney (DL-5)