Build Release Notice

Introducing the Latest Build for Version 1.9.20 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

Support for Additional Canadian Banks. The ACH Express module has been enhanced to support the electronic file formats of Royal Bank of Canada (RBC), Canadian Imperial Bank of Commerce (CIBC), and HSBC Bank Canada (HSBC). Customers banking with these institutions can now use our ACH module to further automate their operations. With the click of a button, process hundreds of loan payments in seconds. Your investors will feel very comfortable with their decision to invest with you when they receive their monthly interest payments electronically by means of the ACH module. No more check printing necessary.

Organize Custom Fields with User-Defined Tabs. You can now organize custom fields by segregating them into one or more user-defined tabs. Meaningful grouping of custom fields into tabs makes them much more usable and easier to locate.

Sample Loan File Window Showing Custom Field Tabs

Lender & Vendor SmartViews. You can now use SmartViews to create customized lender and vendor selections based on user-defined criteria and provide easier, faster access to the information stored in The Mortgage Office. You can select which records are included or excluded, and change the way the information is displayed to best suit your needs. The contents of the SmartViews have the same functionality as the standard system-defined views and can be sent to Microsoft Excel or Microsoft Word.

Sample Loans Servicing Grid Showing Lender & Vendor SmartViews

Weekly Payment Frequency. Weekly loan payment frequencies are now supported throughout the Loan Servicing system including the ACH Module.

Sample Loan File Showing Weekly Loan Payment Frequency

Lender's Grid Includes Outstanding Charges. The loan servicing lender’s grid now includes two additional columns displaying “Charges Owed by Lender” and “Charges Owed to Lender”. The user can select to include accrued interest or not.

Lender's Grid Showing Outstanding Charges Columns

Vendor's Grid Includes Outstanding Charges. The loan servicing vendor’s grid now includes two additional columns displaying “Charges Owed by Vendor” and “Charges Owed to Vendor”. The user can select to include accrued interest or not.

Vendor's Grid Showing Outstanding Charges Columns

Outstanding Borrower Charges Report. A new Borrower Outstanding Charges Report has been added to the Loan Servicing Tasks & Reports section. This report can be generated to include all outstanding charges owed by one or more borrowers.

Sample Outstanding Borrower Charges Report

Outstanding Lender or Vendor Charges Report. Two reports have been added to the Loan Servicing Tasks & Reports section: Lender Outstanding Charges and Vendor Outstanding Charges. These assistants will generate a report of all outstanding charges for one or more selected lenders or vendors.

Sample Outstanding Lender Charges Report

Partner Share Adjustment Assistant. A new assistant has been added to facilitate the recording of non-cash adjustments to the shares owned by a partner.

Sample Partner Adjustment Window

Direct Deposit Option. Select this option to bypass the loan servicing trust account and deposit the funds directly into the mortgage pool's primary bank account.

Sample Mortgage Options Screen

Pay Amount Calculation. The commercial lending module has been enhanced to allow the user to select custom methods to calculate the payment amount the borrower must remit. Many servicers commonly refer to this as borrower "pay rates". Currently the supported methods are:

• Default. The calculated payment amount equals the interest due for the period.
• Fixed P&I. Select this option and enter the amount of the payment.
• Fixed Rate (UPB).  Select this option and enter an interest rate to calculate the payment amount based on a rate other than the note rate.
• Modifier (UPB). Select this option and enter an interest rate to calculate the payment amount based on the note rate plus (or minus) the rate entered here.

Sample Commercial Loan Terms Screen

Interest Charge Calculation. Using the commercial lending module, you now have the ability to assess interest charges on unpaid interest balances at a rate other than the note rate. The available options are:

• Note Rate. Default. Interest is assessed at the loan's note rate.
• Fixed Rate. Interest is assessed at a fixed rate.
• Modifier. Interest is assessed at the note rate plus (or minus) a rate modifier.

Sample Commercial Loan Terms Screen

Loan Master Report. You can now print a 'Loan Master Report' containing a summarized view of all important aspects of your loan(s).

Management Report Menu

Loan Master Report Available Sections

Internet E-Mail Now Supports Gmail, Yahoo and AOL. Electronic mail is the most prevalent application in computer networking. Its use in The Mortgage Office has evolved over the years beyond the simple exchange of text messages to the electronic delivery of borrower and lender statements, billing statements, system and custom notices, to mention a few. This release, once again, enhances the Inernet Email functionality of The Mortgage Office to support multiple secure protocol options that enable your company to use email providers such as Gmail (Google), Yahoo and AOL.

The Secure Protocol property can be used to specify the security protocol to be used when establishing a secure connection with a mail server. By default, the control will attempt to use either SSL v3 or TLS v1 to establish the connection, with the appropriate protocol automatically selected based on the capabilities of the server. It is recommended that you only change this property value if you fully understand the implications of doing so. Assigning a value to this property will override the default and force the control to attempt to use only the protocol specified. One or more of the following values may be used:

• None. No security protocol has been selected. A secure connection has not been established with the server.

• SSL 2.0. The Secure Sockets Layer (SSL) version 2.0 protocol has been selected. Note that this protocol has been deprecated and is no longer widely used. It is not recommended that this protocol be used when establishing secure connections.

• SSL 3.0. The Secure Sockets Layer (SSL) version 3.0 protocol has been selected. This version of the protocol, and version 1.0 of the Transport Layer Security (TLS) protocol, are the most commonly used security protocols.

• PCT 1.0. The Transport Layer Security (TLS) version 1.0 protocol has been selected. This version of the protocol, and version 3.0 of the Secure Sockets Layer (SSL) protocol, are the most commonly used security protocols.

• TLS 1.0. The Transport Layer Security (TLS) version 1.0 protocol should be used.

Select Email Recipients. When sending an email message from within The Mortgage Office, you may now select recipients from all or selected address books. All email contacts in The Mortgage Office are available.

Lender Statement Options. Use the Exclude Inactive Lenders option to avoid generating statements for lenders that have been inactive during the reporting period.

Construction Module. We have expanded our funding panel to include the 'Amount Repaid' on the loan along with the option to identify a loan as 'Revolving'. This option is commonly used if additional funds are available to the borrower as principal is paid on the loan.

Amount Repaid field


Revolving Loan

Commercial Module. You now have the option to set a fixed payment amount on your commercial loans. This amount flows to all pertinent parts of the system, including the billing process.

Fixed P & I

Funding Disbursements. We have expanded our funding to allow the entry of unlimited disbursements from a lender's payment distribution. The amount can be calculated as a percentage of Principal Paid, Principal Balance, Interest (Gross), Interest (Less Serv. Fees) or Interest (Less Other Pmts) and designated as a Disbursement or Servicing Fee.

Disbursements

Daily Interest Rate Adjustments for Construction and Line of Credit Modules. The construction and line-of-credit modules, in conjuction with the ARM module, now support daily interest rate adjustments. Selecting this option provides the ability for a loan to have one or more rate changes within a single billing period. The multiple rate changes and charges are detailed at the bottom of the billing statement.

Daily Interest Rates

Interest Differential Distribution. You can now add an unlimited number of interest differential distributions using a combination of percentage plus a flat amount.

Interest Differential Distribution

Borrower Payment Statement. The borrower payment statement is now an external file, allowing you to make changes to the format.

Editing Payment Statement

Borrower Billing Statement. The line-of-credit billing statement is now an external file, allowing you to make changes to the format.

Editing Billing Statement

Map Address. Modified our Map address function to use Google Maps instead of MapQuest.

Sample Google Map

Community Development Financial Institutions. The Mortgage Office has received CIIS 9.0 certification.

CDFI Export Dialog

The Tax Forms Management & Printing module has been redesigned to support the IRS tax forms for reporting year 2011. Additionall functionality has been implemented such as exporting to Excel.

Important! If you use Applied Business Software's annual IRS filing service, this release is required for reporting tax year 2011.

We are excited to announce the latest release of our share-based partnership servicing module. This module underwent a near complete rewrite to implement additional functionality and countless enhancements. The following are just a few of the highlights.

Mortgage Pool Certificates. You can now print and track the purchase, transfer and redemption of certificates. Additionally the share price can be a fixed value or a floating Net Asset Value. Support for fractional or whole share lot sizes has also been added.

User-Definable Certificate Numbering and Early Redemption Penalty. Easily standardize certificate numbering scheme and a default early redemption penalty.

Templates. Additionally, the certificate is a Microsoft Word template, user modifiable. The Mortgage Office will create toolbars within Microsoft Word to facilitate the process of inserting merge fields. If you are using Microsoft Word 2007, the toolbars are located within the Add-Ins tab. In earlier versions you will see a floating movable toolbar titled The Mortgage Office.

Effortlessly Purchase, Redeem or Transfer Certificates. You may easily redeem or transfer one or more certificates at a time. Partial redemptions and transfers are also supported.

Partial Redemptions. If you redeem only a portion of a certificate, the system will issue the partner a check for the shares redeemed and a new certificate for the remaining shares. For example, if you redeem 4,000 shares out of 10,000 shares available in a certificate, the partner will receive a check for the 4,000 shares redeemed and a new certificate for the balance (6,000 shares).

Partial Transfers. If you transfer only a portion of a certificate, the system will issue the partner a check for the shares transferred and a new certificate for the remaining shares.

1099-INT, T5 & T3. The Partnership module now generates U.S. 1099-INT tax forms, and Canada's T5 Statement of Investment Income and T3 Statement of Trust and Income Allocation.

Sample 1009-INT

Sample T5

Sample T3

ACH Express Options and Sample Transmission Report

NMLS Mortgage Call Report. You can now produce and manage your NMLS Residential Mortgage Loan Activity and Financial Condition reports from within The Mortgage Office. The RMLA form includes the ability for you to import data accross all of your loans with a simple click of a button.

MCR Reporting Grid


XML File Export Dialog


Residential Mortgage Loan Activity and Financial Condition Forms

Calculate Final Payment. The Loan Terms screen now has an option to "Calculate Final Payment" for "Fully Amortized" and "Other" loans. This feature will automatically calculate the amount of the final payment based on the current payment schedule.

Lender Maintenance. Functionality has been added to allow you to add, edit or delete lenders from the lender pool in loan origination.

Cal/Section 32. Added Cal/Section 32 worksheet to our hard money document package.

Web Publishing Central. We've just released a number of new enhancements to BorrowersViewCentral.com. Your borrowers now have access to more information about their loans.

See detailed information about an ARM loan.

See detailed information about a line of credit.

See detailed information about a construction loan.

View and export detailed transactions from the trust account.

E-mail Custom Letters. The ability to e-mail custom letters to borrowers, lenders, vendors, co-borrowers and funding lenders has been implemented. Fully integrated with Microsoft Word, the easy-to-use Letter Writing Assistant will walk you through the process to print, preview or e-mail custom letters. The e-mail templates are fully user customizable.

E-mail Loan Servicing Notices. This update enables you to e-mail system notices such as late notices, insurance expiration notices balloon payment notices, etc. to borrowers and selected co-borrowers. The e-mail templates are fully user customizable.

Sample Late Notice Assistant and E-mail Notification

Select which Co-Borrowers will Receive Borrower Notifications. This new option allows you to send a copy of a borrower notice to selected co-borrowers. Depending on the co-borrower's Delivery option the notice may be printed, e-mailed or both.

Sample Co-Borrower Window

Attach and E-mail ARM Rate and Payment Change Notice. The Adjustable Rate Mortgage (ARM) module has been updated to support the attaching and e-maling of the Rate and Payment Change notice. The e-mail templates are fully user customizable.

Attach and E-mail GTM Notice of Loan Terms Modification.The Graduated Terms Mortgage (GTM) module has been updated to support the attaching and e-maling of the Notice of Loan Terms Modifications. The e-mail templates are fully user customizable.

Construction Lending. A new read-only calculated field has been added to the Construction module to display any unfunded loan amounts.

Sample Construction Project Window

Trust Accounting. The Trust Account module has been updated to allow the user to quickly view all clients within a trust account. Click on a client to display the client trust ledger with full functionality. Click the "+" or "-" to expand or collapse the client list.

Sample Expanded Client List and Client Trust Ledger

Pyramiding Late Charges. A new late charges methodology option has been added to the Loan Servicing module to address California's definition of late charges pyramiding. This new methodology follows the guidelines as set forth in California Civil Code 2954.4 for determining if a payment should be assessed a late fee. This methodology will not assess a late fee on an otherwise delinquent payment if a previous payment was received within the grace period.

Canadian Cheque. The ABS Multipurpose Laser Cheques for the Trust Accounting and Loan Servicing modules have been redesigned to meet Canada's CPA specifications. The new cheque specifications are a key part of an industry-wide plan to modernize Canada’s cheque clearing system through image technology. The new specifications are designed to ensure that high-quality images can be captured from the cheques for use by financial institutions and their customers, and to make cheque processing more efficient.

Sample Cheque

Conversation Log Report. The conversation log report has been completely redesign to improve readability and pagination between conversations with large amount of text or images.

Sample Conversation Log Report

Select & Print Lender Checks. Loan Servicing's Select & Print Lender Checks assistant has been enhanced to export the contents of the grid to Microsoft Excel.

Sample Select & Print Lender Checks Window

Regulation Z Disclosure. The latest revisions to the Regulation Z disclosure have been implemented and integrated into the loan origination document packages.

The existing payment schedule has been replaced by the 3 payment summaries listed below.


Model H-4(E) Fixed Rate Mortgage Interest Rate and Payment Summary Model Clause


Model H-4(F) Adjustable-Rate Mortgage or Step-Rate Mortgage Interest Rate and Payment Summary Model Clause


Model H-4(G) Mortgage with Negative Amortization Interest Rate and Payment Summary Model Clause