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 latest release of The Mortgage Office™ version 1.9.20. This update contains exciting new features and enhancements that will benefit you and your business.
Keep your software current. We are committed to providing you with the most current, feature-rich software available. This commitment involves enhancing the product with new features as well as correcting existing issues. Keeping your software current allows ABS to provide you with the best level of support possible.
The following list provides a brief description of some of the new additions and enhancements to The Mortgage Office™
- The latest revisions to the MLDS 882 and MLDS 883 have been implemented and integrated into our document packages.
- 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.
- 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.
- 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.
- 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.
- 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.
- T5 Slip for MIC’s. The MIC (Partnership) module has been enhanced to generate Canada Revenue Agency T5 slip.
The complete release notice is available for viewing. Please click here to view Release Notice v1.9.20.