LOS ANGELES, Calif., November 27, 2009 - Applied Business Software Inc. (ABS), developer of The Mortgage Office™, the leading loan servicing software solution for the lending industry, announced today that it has received Transaction Level Report (TLR) certification for CIIS 7.0 from the Community Investment Impact System (CIIS). CIIS is the web-based data collection system that CDFIs and CDEs use to submit their Transaction Level Reports (TLRs) to the Community Development Financial Institutions Fund (CDFI Fund).
The integration between The Mortgage Office™ and CIIS will offer ABS’ growing network of CDFIs and CDEs the ability to track all necessary information to easily generate their annual Transaction Level Reports (TLRs) and transmit it directly to the CIIS system - significantly streamlining the compliance process and eliminating redundant work.
The CDFI reporting module of The Mortgage Office™ does extensive data validation prior to generating the XML file to ensure compliance with CIIS 7.0 and reduce or eliminate the possibility of the XML TLR file being rejected by CIIS due to errors.
Jerry Delgado, president of ABS, stated, “This new module of The Mortgage Office™ will provide our customers with an easy and effective way to generate their Transaction Level Reports (TLRs) and help them to stay in compliance with the requirements set forth by the CDFI Fund. We’re proud of our reputation for excellence, both in our products and in our people. Our large network of satisfied ABS customers is proof of our commitment to providing personal, efficient, quality customer service all day, every day. We realize how important your software system is to the success of your business and we take our responsibility as your software provider very seriously. We at ABS are committed to quality and to providing you with reliable, state-of-the-art, cost-effective solutions to your loan servicing needs.”
About Community Development Financial Institutions Fund
US Department of the Treasury
The CDFI Fund was created for the purpose of promoting economic revitalization and community development through investment in and assistance to community development financial institutions (CDFIs). The CDFI Fund was established by the Riegle Community Development and Regulatory Improvement Act of 1994, as a bipartisan initiative. The CDFI Fund achieves its purpose by promoting access to capital and local economic growth in the various ways. Since its creation, the CDFI Fund has awarded $1.11 billion to community development organizations and financial institutions; it has awarded allocations of New Markets Tax Credits which will attract private-sector investments totaling $26 billion, including $1 billion of special allocation authority to be used for the recovery and redevelopment of the Gulf Opportunity Zone. For additional information visit http://www.cdfifund.gov or call (202) 622-8662.
| || |
About Applied Business Software
Applied Business Software, founded in 1978 and creator of The Mortgage Office™, is a market leader and global provider of software systems and solutions to the lending industry. The Mortgage Office™ is a complete suite of software products designed from the ground up to specifically address the needs of those who originate and service loans. The Mortgage Office™ has consistently rated superior in design, system interface, expandability, and ease of use. This true 32-bit Windows application collaborates fully with the Microsoft Office suite of products and is designed to make loan servicing more profitable and your overall business run more efficiently. ABS is based in Long Beach, California. For additional information about ABS’s products and services, visit www.themortgageoffice.com or call (800) 833-3343.
Applied Business Software, Inc.