The Adjustable Rate Mortgage (ARM) module streamlines loan servicing for adjustable rate loans, including setting up and managing indexes. Possible ARM indexes abound, and each one fluctuates differently according to its individual market characteristics. With the ARM module, you can:
Generate unlimited rate and payment adjustments
Support ceilings, floors, initial and subsequent/periodic rate caps, carryovers, and negative amortization
Update ARM index rates automatically and via the Internet
Automatic rate changes and borrower notifications
With a loan servicing software suite like The Mortgage Office, you can track historical index values free of charge, straight from our intuitive user interface. The program tracks five years of historical values for the most frequently used ARM indexes and keeps them regularly updated.