Product
Release Notice
October 2008
 Introducing
The Mortgage Office™ Version 1.9.17
In our continuing effort to provide you with the most technologically advanced and easy-to-use loan servicing and origination software found anywhere, Applied Business Software, Inc. is pleased to announce the newest release of The Mortgage Office™. This update contains exciting new features and enhancements that will benefit you and your business.
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 updates 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
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| Full compatibility with Microsoft Windows Vista™ |
 ABS is excited to announce that The Mortgage Office™ version 1.9.17 is fully compatible with Microsoft Windows Vista™ Business and Ultimate editions. As the leading developer and global provider of software systems and solutions to the lending industry, ABS has a long track record of supporting the latest version of the Windows operating system.
The release of The Mortgage Office™ version 1.9.17 is the result of several months of development and testing by ABS’s programming team to ensure Vista compatibility and to integrate the updated look-and-feel of Microsoft Windows Vista™ interface.
Which Windows Vista edition is right for you?
- Windows Vista Business is the definitive choice for your business—today and tomorrow! Windows Vista Business empowers you to work more efficiently and securely with a stunning and simple new user interface, easy-to-use search, and powerful safety features including automatic data backup.
- Windows Vista Ultimate is the most complete edition of Windows Vista. It has the power, security and mobility features you need for work, and the entertainment and ease you want for fun. It has everything you need to shift seamlessly between the worlds of play and productivity.
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| Loan Origination |
Mortgage Loan Disclosure Statements (Rev 8/08). The Loan Origination module has been updated to support the Mortgage Loan Disclosure Statements listed below. These forms have been updated to comply with the latest revisions and regulations issued by the California Department of Real Estate.
- RE 882 - Mortgage Loan Disclosure Statement (Borrower, Used for traditional loan transactions).
- RE 883 - Mortgage Loan Disclosure Statement/Good Faith Estimate (Used for traditional loan transactions).
- RE 885 - Mortgage Loan Disclosure Statement/Good Faith Estimate, Nontraditional Mortgage Product (Used for nontraditional loan transactions.
Sample MLDS RE882 (Rev. 8/08)
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| Custom Letters & Reports |
Borrower Custom Letters. You may now include Originating Vendors fields when editing or creating borrower custom letters with Microsoft Word.
Sample Originating Vendor Toolbar within Microsoft Word
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| Online Center |
Enhancements to Product Downloads and Updates. In addition to major-version release notices, The Mortgage Office™ will now provide you with notifications when builds are released. 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. To read an explanation about a build click on the build number hyperlink.
Downloads Updates Sample Screen
The build release notices have a slightly different design than the major-version release notices, and provide detail information about each build previously released in LIFO order. See sample below.
Sample Build Release Notice
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| New Business Partners |
| In order to meet and exceed our customer's needs and expectations, Applied Business Software develops strategic alliances and business relationships with companies that provide services, which complement The Mortgage Office™. Below is a partial list of our strategic alliance companies. We encourage you to visit their web sites and learn more about the services they provide and how they integrate with The Mortgage Office™. |
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 Armanino McKenna LLP Certified Public Accountants & Consultants has been serving clients throughout California for over 50 years. As the largest California-based CPA firm and one of the top 50 in the United States, Armanino McKenna along with Josh Nevarez, the partner in charge of the firm's thriving mortgage pool practice, continue to provide a wide range of accounting and consulting services to more California mortgage pool clients than any other firm in the state and are rapidly becoming recognized as the national leader in this industry.
Armanino McKenna is the exclusive CPA business partner to Applied Business Software (ABS) and with their depth of expertise and detailed understanding of The Mortgage Office™, they are an invaluable asset to their mortgage pool clients. Armanino McKenna maintains its firm headquarters in San Ramon (East Bay Area) with additional offices in San Francisco, San Jose and Long Beach. For more information please contact Josh Nevarez at (925) 790-2600 or visit our website at www.amllp.com.
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Applied Business Software has partnered with ForeclosureLink, Inc., which has specialized in California non-judicial foreclosures since 1983, to provide automated default services through the Default Services and Tracking module of The Mortgage Office™. ForeclosureLink's goal is to be a one-stop national default servicing company. The officers of ForeclosureLink, as well as their staff, have extensive backgrounds in the foreclosure and mortgage industries. ForeclosureLink, prides itself in providing the finest service in the industry with a concentrated effort toward maximizing turnaround time, efficiency, cost and ultimately mitigating loss. ForeclosureLink is based in Fair Oaks, California. For additional information about ForeclosureLink’s products and services, visit www.foreclosurelink.com or call toll free (877) 234-5465. |
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| Additions, Modifications & Corrections |
This section includes minor enhancements, modifications and corrections included in this release of The Mortgage Office™. Many of these are the result of suggestions made by customers and help us improve The Mortgage Office™ to better meet your needs.
Loan Servicing |
| Loan Aging Trial Balance. A loan due today is now displayed in the Current column instead of the 1-30 column. |
| FIX. Corrected bug that occasionally rounded up the percentage ownership and percentage servicing fees in certain custom letters. |
| FIX. The per diem displayed when printing a closing bill for construction or line of credit loans was slightly off if finance charges were excluded. |
| Borrower Payment Register. The payment register has been modified to exclude FinChg transactions. |
| Loan Trust Balance Report. The report failed if printed by trust balance order. |
| Loan Funding. You may now "Erase" all fundings even if there are no funding lenders displayed in grid. |
| Lender Statements. Generating a lender statement for construction loans or lines of credit (HELOCs) for a prior period could result in reporting an incorrect portfolio balance. |
| Interest Differential Distribution. Added an Interest Differential Distribution ("IDD") button to Funding grid's toolbar. This change allows you to enter how any interest differential is distributed even if the loan's note and sold rate are equal. |
| Late Charges. Deleting a non-cash late charge adjustment no longer updates the Unpaid Late Charges field. |
| Check Alignment. A check form alignment adjustment issue has been corrected in Loan Servicing, Partnership Servicing and Construction modules. |
| Lender Statements. Under certain situations, Lender Statements were not showing fundings as of the statement ending date. |
| Account Number Searching. The search failed unless “Equal” was used when searching for a 10-digit long account number. This problem has been corrected. |
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Mortgage Pool Servicing |
| FIX. The Collateral Report now prints the property address. |
| FIX. Loans grid headings correctly change sort order when clicked. |
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Consumer Credit Reporting |
| K4 records (Balloon Payments). The credit reporting module has been enhanced to report balloon payments (K4 records). |
| Reporting Payoffs. When applying a payoff, we now set the account status= 13 (account paid/closed) and the date closed to the payoff date. Additionally, if an account is paid, we set the payment history to "E" and report the payment rating to the delinquency at the time of payoff. The Report checkbox is also unchecked so as not to report the paid loans more than once. Also, if the user decided to rereport paid loans, Metro-2 calls for the history to be "frozen", which we do. |
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Custom Letters & Reports |
| FIX. Funding letters were failing if the end user inserted lender custom fields. We were not inserting the lender custom fields in the mailmerge data file so although our customer can insert the mergefield, Microsoft Word would complain that the field is not found in the data source when the mail merging took place. |
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