Product Release Notice
April 2004

Enhanced Prepayment Penalty Options. The loan’s prepayment penalty definition and setup has been expanded to better match our Loan Origination module and to support more options.

Loan Voucher System. A complete vouchering system that enables you to schedule one-time as well as recurring payments to be made from the loan’s trust (escrow) account. The vouchers can generate a printed check or initiate an ACH transaction. Please note this is an optional module that is included as part of the Escrow Administration Module.

Funding Letters Supported by Letter Writer Assistant. The Letter Writer Assistant has been updated to fully support sending letters to funding lenders (lenders-in-a-loan).

More Borrower Fields Supported by the Letter Writer Assistant. The following additional fields have been added to the borrower’s Mail-Merge toolbar:

• Loan Original Amount
• Loan Principal Balance
• Loan Regular Payment
• Loan Unpaid Late Charges
• Loan Unpaid Interest
• Loan Note Rate
• Loan Sold Rate
• Loan Funding Date
• Loan First Payment Date
• Loan Paid To Date
• Loan Next Due Date
• Loan Maturity Date
• Loan Next Revision Date
• Loan Payoff Date
• Loan Payoff Date

Lender Notification of Electronic Deposit. The notice has been completely redesigned, offering a more attractive and professional appearance. Also, it is now assistant-driven and provides you with the option of sending it via e-mail as well as printing it.

Sample Notification of Electronic Deposit

Notification by E-mail. Once the funds are electronically deposited into the lender’s bank account, the lender can receive a personalized e-mail confirming the deposit has been made.

The e-mail may be sent as HTML or in plain-text format depending on each lender’s preference.

The e-mail format and context is template driven and fully end-user modifiable.

ABS, in collaboration with Calyx, has developed an import utility right into Point so that you can effortlessly import your files from Calyx Point into the Loan Servicing module of The Mortgage Office™.

Calyx users can download this import utility right from within the Point program. A step-by-step guide on how to use this utility is also available for download on our website.

The new Escrow Administration module of The Mortgage Office fully automates the tasks associated with maintaining escrow accounts on behalf of borrowers and meets or exceeds the accounting and reporting requirements set forth by the Real Estate Settlement Act (RESPA). It works in concert with the Loan Servicing, Trust Accounting and ACH Express modules, allowing delegation of unrelated functions to the appropriate department and providing an affordable in-house software solution. The following provides a brief description of some of the features available in this new powerful tool.

Annual Escrow Account Disclosure Statement.The statements can be generated at any time for an individual or selected group of borrowers. The two-part statement fully complies with RESPA requirements and includes a projection of the account's activity for the coming year as well as a side-by-side presentation of old projection and account history.

You may also issue a "short-year" annual escrow account statement to a borrower at any time. Most commonly, short-year statements are used when a transfer of servicing occurs, or to change a borrower's escrow account computation year to another.

Vouchers. The system provides an easy-to-use, yet powerful voucher system to manage and schedule disbursements to be made from the escrow account. The process of disbursing funds can be further automated by having the funds electronically transferred from the escrow account and directly deposited into the vendor's account.

Individual vouchers can be designated as "discretionary payments". RESPA definition of discretionary payments is "any payment such as credit life or disability insurance made as part of a mortgage payment but not required by the lender".

Escrow Analysis Assistant. An easy-to-use assistant guides you through the necessary steps to conduct an aggregate escrow account analysis and compute the sufficiency of funds. The assistant provides you with many options, including the ability to select the number of payments reserved as a cushion to cover unanticipated disbursements, the disposition of shortages, surplus and deficiencies.

The assistant effortlessly handles and correctly prints annual escrow account disclosure statements for loans with varied payment frequencies, including by-weekly, monthly, quarterly and others.

Check Printing & Electronic Transfer of Funds. The process of calculating and disbursing funds from the escrow account is fully automated by the Escrow Administration module. Furthermore, checks or electronic transfers of funds can be done at any time. Individual vouchers can be selected for payment or placed on hold.

To minimize use of supplies, checks can be grouped by payee. Each item is uniquely identified on the stub by the payee's own reference number, loan account, borrower's name, description and amount.

This new module provides a comprehensive solution to the creation and printing of custom letters, reports and mailing labels and is designed to seamlessly integrate with the other modules in The Mortgage Office. The following provides a brief description of some of the features available in this new powerful tool.

Document Manager

New Custom Letter Assistant. Integration with Microsoft Word is now easier than ever. The new easy-to-use assistant will walk you through the necessary steps to create reusable Word templates for commonly used business letters.

Once created, templates can be used to print form letters, mailing labels and envelopes for borrowers, lenders, vendors and others. The templates will be created and printed using the Mail Merge or VBA capabilities found in Microsoft Word.

Multi-Step Letter Writing Assistant. The Letter Writing Assistant walks you through the necessary steps to create letters. In a few simple steps you'll be able to create letters for one or more recipients. The letters will be created and printed using the Mail Merge or VBA capabilities of Microsoft Word.

Letter Writing Assistant

Mailing Labels. The Mailing Label Maintenance program has been completely re-written from the ground-up to match the design methodology of our newer products. The new grid layout is now easier to use than ever.

Mailing Label Maintenance

Full Featured Custom Report Writer. A welcome addition to The Mortgage Office, the custom report writer combines the power and ease-of-use of The Mortgage Office with Microsoft VBScript language and advanced ActiveX technology to provide you with the ultimate report writer.

A user-friendly interface that provides a fully open architecture lets you use VBScript or JScript code, ActiveX, and OLE Objects in your reports so you can handle the toughest of reports without limits. Full support for DAO, RDO, ADO, XML data sources, XPath and XSL expressions. And for maximum flexibility it also supports unbound data from arrays, collections and other data providers.

Custom Report Writer

The ACH Express module, which fully automates and simplifies the process of electronically transferring funds to-and-from your borrower, lender, and certificate holder accounts, is also the recipient of many new features.

ACH Express

The new Default Services & Tracking module provides a comprehensive, fully-integrated default solution to the loan servicing industry and is designed to seamlessly take you one step further in the processing of loans. One system, one database, from origination to servicing and now… through default.

ABS, in partnership with FCI National Lender, is now able to provide an integrated system comparable to those offered by large system integrators, allowing our customers to order default services in an automated and efficient electronic format. Best of all, the Default Services & Tracking module is FREE to qualified customers for a limited time.

Easy to Use and Accurate. With a single mouse-click, all of the pertinent data needed to start a foreclosure is electronically transmitted: borrower and lender files, unpaid loan charges, property information, loan terms and more. Instantly the data is received by FCI which immediately begins to process, document and report back to you in real time. In seconds your foreclosure is in process, right from your workstation, and most importantly error free!

Combining leading edge technologies with professional outsourcing solutions, The Mortgage Office now provides the most cost effective, efficient and comprehensive default solution available.

Quick Start Guide. A step-by-step 24-page Quick Start Guide is available for download in the customer support section of The Mortgage Office website.

http://www.themortgageoffice.com/customer030.asp

• New and enhanced user interface
• Access prior years with a mouse click
• Easily find any record or records
• Export to disk using industry standard ADO Recordset format.
• Transmit your files via Internet to ABS for electronic filing with the IRS.
• Ability to make after-transmission changes and update files remotely.
• Full compliance with 2003 IRS tax forms and reporting requirements.
• Ability to enter tax forms manually during the year as need arises.
• Much more…

The following provides a brief description of some of the new features and enhancements to the Collateralized Mortgage Obligations module.

• Ability to print or preview notifications of deposit.
• Ability to e-mail notifications of deposit.

Once the funds are electronically deposited into the holder’s bank account, the holder can receive a personalized e-mail confirming the deposit has been made.

This e-mail may be sent as HTML or plain-text format, depending on the holder’s preference.

Produce notifications of deposit for one or more mortgage pools in a single pass.

Select notices to print by deposit or transmission date.

Ability to include or exclude holders by categories.

Notifications can be exported to the following formats:

• Portable Document Format (PDF)
• Rich Text Format (RTF)
• Microsoft Excel Worksheet (XLS)
• HTML
• Tagged Image Format (TIF)
• Plain Text

• Ability to print or preview statements.
• Ability to e-mail statements.
• Produce statements for one or more mortgage pools.
• Ability to include or exclude holders by categories.
• Option to exclude holders without active certificates.
• Option to exclude holders without any activity for the reporting period.
• Ability to override default statement delivery option set in the holder file and print statements for all selected holders.
• Support for most common window envelope sizes.
• Statement can be exported to the following formats:
• Portable Document Format (PDF)
• Rich Text Format (RTF)
• Microsoft Excel Worksheet (XLS)
• HTML
• Tagged Image Format (TIF)
• Plain Text

An easy-to-use assistant guides you through the entire process.

The certificates to be affected by the change can be selected by a range of purchase, funding or maturity dates as well as categories.