Product Release Notice
Jul 2007

Introducing The Mortgage Office™ Version 1.9.00
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, we require that you 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

New User Interface. The loan servicing system now supports the same explorer-like, easy-to-use graphical interface you've become accustomed to with our other modules. All borrower, lender and vendor information is centralized and easily accessible.

Loan Servicing & Borrower Screens

Business Today. Monitor and manage your loan servicing business more effectively with up-to-the-minute information reporting on a range of key factors. It displays snapshots of current, statistical, historical data, and performance trends.

Sample Business Today Screen

Ideal for the owner/manager, Business Today currently includes the following eight controls:

• Tasks Pending
• Bank Account Balances
• Revenues
• Loan Distribution by Priority
• Loan Distribution by Maturity
• Loan Aging
• Loan Distribution by Property Type
• Weighted LTV by Property Type

For example, the Tasks control scans your database and alerts you of items needing your attention and pending tasks for today.

SmartViews. Use SmartViews to create customized loan windows based on user-defined criteria and provide easier, faster access to the loan information stored in The Mortgage Office™. You can select which loans are included or excluded, and change the way the information is displayed to best suit your needs.

Sample SmartView & Assistant

The contents of the SmartViews have the same functionality as the standard system-defined loan views and can easily be sent to Microsoft Excel or Word for further analysis. The system offers 10 pre-defined SmartViews which you can use as-is or modify them to fit your individual needs.

Loan Validation. Ever feel like you've forgotten important loan setup information? Now you can use the Loan Validation tool to automatically audit the loan files for accuracy and completeness. You’ll receive a report showing any issues found along with their level of importance.

Borrower Statement of Account. Completely redesigned, it now supports company logo placement as well the ability to automatically attach each statement to its loan file when printing. New delivery options per borrower allow the statements to be printed, e-mailed or both.

Sample Borrower Statement of Account & Assistant Screen

Window Envelope Alignment. Often times, envelope window location differs between envelope manufacturers as well as printer alignment from one printer to the other. To compensate for this, you can now use the Window Envelope Alignment tool to adjust the location in which the company's return address and the recipient's address are printed.

Window Alignment Assistant Screen

Loan Funding. A more powerful and flexible funding process allows for loans to be funded all at once or incrementally during the life of the loan. Unlimited mid-period funding and sales/purchases are easily entered and accurately distributed.

Funding Grid & Assistant Screens

At time of payment processing, The Mortgage Office™ automatically determines whether the borrower is paying a full-period's worth of interest or whether interest should be prorated to account for mid-period fundings. The system also maintains complete detailed history of all fundings.

Canadian Payments Association (CPA). The Mortgage Office™ now supports and fully complies with the new CPA Standard 006 for Imageable MICR-Encoded Cheques. All Canadian business cheques must conform with the new specifications by June 20, 2007.

Sample Canadian Check (COPY)

Zip-Code Databases for U.S. and Canada. Now available for both U.S. and Canada, let The Mortgage Office™ automatically verify the city, state (or province) and county when entering addresses for borrowers, lenders and vendors..

	Type a valid USPS 5-digit zip code and The Mortgage Office™ automatically fills-in the correct city, state and county information.  The system supports over 42,000 U.S. zip codes and automatically resolves preferred city names.
	Type a valid 6-character Canadian Postal Code and The Mortgage Office™ automatically fills-in the correct city and province information.  The system supports over 800,000 Canadian postal codes.

Principal PayDown Assistant. This new assistant helps you easily process principal paydowns at any time (on days other than the loan's payment due day) and optionally distribute it unevenly between lenders. In other words, the amount of principal distributed to each lender can be arbitrary (not according to ownership). The system will recompute lender ownership, and the borrower's accrued interest will take into consideration the amount and timing of the principal paydown.

Principal Paydown Assistant

Automated Payment Options. Use these options to control how automated borrower payments (ACH) are applied. Select whether to automatically pay late charges, unpaid charges and more. You can also select to apply any excess money to principal or trust.

Automated Borrower Payments Options

Automated Borrower Payments Assistant. This completely redesigned assistant helps you process payments for borrowers who have elected to make their loan payment electronically. A detailed exemption report is generated if one or more loans are excluded.

Automated Borrower Payments Assistant

One-Sided Lender & Vendor Adjustments. This new assistant allows you to enter one-sided (not originating from a borrower transaction) adjustments to lender and vendor files.

One-Sided Lender & Vendor Adjustments

Export to Microsoft Excel. Now you can export all the information contained in the loan, lender and vendor grids to Microsoft Excel with a click of a button.

The Mortgage Office & Microsoft Excel Applications

Borrower Payment Distribution Audit Report. This new report enables you to audit the distribution of a borrower payment at any time. With a simple click of a button you can generate a report detailing all disbursements made from a borrower payment as well as a final reconciliation of any discrepancies found.

Sample Loan History Screen & Audit Report

Borrower Payment Statement. Completely redesigned, it now supports company logo placement as well as the ability to automatically attach each statement to its loan file when printing. New delivery options allow the statements to be printed, e-mailed or both.

Borrower Payment Statement & Assistant

Completely Redesigned Reports & Assistants. All loan servicing reports and assistants have been completely redesigned to support print-preview, emailing and exports to PDF, Excel, RTF, HTML, TIFF and TXT file formats.

Sample Management Reports

Borrower & Lender Payment Receipts. The system now enables you to print a receipt when entering borrower or lender payments.

Payment Entry Screen & Sample Payment Receipt

New Fully Customizable Toolbar and Menu System. The new toolbar and menu system delivers Microsoft Office compatibility and complete end-user customization and personalization. It also provides icon support, detachable, floating and dockable toolbars.

Customize and Personalize your Working Environment. By simply dragging and dropping available menu items, you can easily create any number of additional toolbars or menu items.

All Notices Support Microsoft Word Mail-Merge. All system notices have been converted to support Microsoft Word Mail-Merge functionality. The Mortgage Office™ automatically creates dropdown menus within Microsoft Word to enable you to easily insert mail-merge fields with a click of the mouse.

New Loan Assistant. This new template-driven assistant guides you step-by-step through the process of setting up a new loan. The number of steps varies depending on selections made in prior steps. For example, the steps needed to setup a HELOC differ considerably from the steps required to setup a conventional loan. The assistant allows you to create templates to speed up the setup of commonly used loan programs.

Multi-Step New Loan Assistant

Encompass® Integration. In March-2007, ABS and Ellie Mae announced the formation of a strategic partnership to provide full product integration between The Mortgage Office™ and Encompass® mortgage automation system.

Encompass Import Assistant

The integration between The Mortgage Office™ and Encompass® provides the ability to seamlessly transfer loan data from Encompass® into The Mortgage Office™ - significantly streamlining the loan servicing process, eliminating redundant work as well as avoiding errors commonly associated with reentering loan information.

This product requires special licensing from Applied Business Software and Ellie Mae. Contact your ABS account representative at 800.833.0115 for assistance.

Following is a list of 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.