Organize Custom Fields with User-Defined Tabs. You can now organize custom fields by segregating them into one or more user-defined tabs. Meaningful grouping of custom fields into tabs makes them much more usable and easier to locate.

Sample Screen

Daily Interest Rate Adjustment Period. The commercial module now supports daily interest rate adjustments. Selecting this option provides the ability for a loan to have one or more rate changes within a single billing period. The multiple rate changes and charges are detailed at the bottom of the billing statement.

Sample Screen

Last Billing Statement Information. The Commercial, Construction and Lines of Credit \ HELOC modules now display current billing information so that you can quickly see the amount last billed, any amounts paid, any accrued late charges and the amount pending.

Loan Terms / Billing Tab

Tax Identification Number (TIN) Types. You may now specify a Taxpayer Identification Number (TIN) type where applicable.

The available options for the U.S. are as follow: SSN - Social Security Number EIN - Employer Identification Number The available recipient types for Canada are as follow: 1 - Individual 2 - Joint Account 3 - Corporation 4 - Association 5 - Government

New ACH Options. The ability to have a different “hold” period for ACH transactions has been added to the loan servicing options. When a borrower payment is received, disbursement transactions to funding lenders, broker (servicer) and participating vendors are created and scheduled for payment. You may now specify a different “hold” period in days for borrower payments made via ACH.

Loan Servicing Check Options

Conversation Log Grid and Report Now Includes Account. The parent’s account number (loan, lender, etc) is now included as one of the columns available in the conversation log grid. Viewing the account number is more important when the conversation log is displaying items for multiple parents.

Sample Conversation Log Screen

Sample Conversation Log Report

Daily Canadian Amortization. Selecting Canadian Amortization causes the system to calculate interest using the semi-annual compounding basis commonly used in Canada. Prior versions of The Mortgage Office™ made this option only available for periodic interest calculation. You may now select Canadian Amortization for Actual Days as well.

Billing Frequency. The Commercial, Construction and Lines of Credit / HELOC modules have been expanded to include None, Monthly, Quarterly, Semi-Yearly and Yearly billing frequencies.

Drag and Drop Grid Columns. The user can now reorganize the grid by moving columns in a more intuitive way. Simply use your mouse to drag the selected column to a new location. The grid’s column order is persisted between sessions.

Sample Screen Illustrating Grid Column Drag and Drop

Property Insurance Agent Email. An email field has been added to the property insurance agent record. You can now easily send an email with or without attachments to the insurance agent and optionally add it to the loan’s conversation log. The policy number, property address and insured’s name are automatically copied to the email.

Sample Property Insurance and Email Windows

Beneficiary Demand for Payoff Notice. The system now automatically generates an addendum to the Demand for Payoff notice fully itemizing all unpaid charges and other fees.

Prevent Unintentional Changes. A lock/unlock button has been added to the loan terms options tab preventing accidental changes. The button is locked by default.

Sample Loan>Terms>Options Window

Loan Reinstatement Calculation. This new assistant will help you determine the amount necessary to bring a commercial, construction or lines of credit / HELOC loan current  and print or email a statement to the borrower.

Sample Loan Reinstatement Assistant and Statement

T5 Slip for MIC's. The MIC (Partnership) module has been enhanced to generate Canada Revenue Agency T5 slip.

Reminders. The reminder form has been enhanced to display the person who initially created the reminder record.

Escrow Vouchers. The ability to export to Microsoft Excel has been added to the Escrow Vouchers grid.

Mortgage Pool (Capital Base). The ability to export to Microsoft Excel has been added to the Partners and Loans grid.

CDFI. Updated the CDFI Transaction Level Reporting to comply with the latest submission requirements.

Loan Origination. The latest revisions to the MLDS 882 and 883 have been implemented and integrated into our document packages.

Investment Offerings Report. We have created a new 'Investment Offerings' report that you can access under management reports. This report will generate a listing of all investment offerings made available through the Sales and Marketing component.

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.