Applied Business Software Inc. (ABS), developers of The Mortgage Office and The Loan Office software, has announced a major update to its signature loan servicing software, The Mortgage Office. ABS released this extensive update with dozens of enhanced features to its worldwide customer base.
Consistent with Applied Business Software's development approach, below are some of the highlights included in Version 2.1.7.60.
►Text Messaging: Customers can now send text message notifications alerting their borrowers and lenders of upcoming scheduled transactions such as auto-payments, payments received, ACH deposits to lenders and much more.
►GeoMapping: In a partnership with MapQuest, ABS has created the ability to generate interactive location maps for all or selected loans in The Mortgage Office.
►New Electronic Payments Partner: ABS has partnered with Payment Data Systems to offer its customers multiple options for real time Credit Card and EFT payment processing, both within The Mortgage Office and through ABS's Web portal site: BorrowersViewCentral.com.
►New Prepayment Penalty: This added feature calculates guaranteed interest through the expiration date. Payoff can now include outstanding months of guaranteed interest.
►Billing Statement Notes: Include user-defined notes on line of credit, commercial and construction billing statements.
►Closing Statement Notes: Include user-defined notes on line of credit, commercial and construction closing statements.
►Logically Group Attachments: Easily organize auto-created attachments by using a user-defined tab metaphor.
►Military State Codes: Seven U.S. Military/State Abbreviations added.
►Lender/Purchaser Disclosure Statement: Updates to the LPDS RE851A and LPDS RE851D documents with BRE changes from revision on 8/16.
►Auto-Pay Email Notification: A new e-mail template has been added to notify borrowers of a pending ACH debit (auto-pay).
►Updated 2016 Tax Forms: The IRS forms 1098, 1099INT and 1099MISC have been updated to comply with IRS changes for tax year 2016.
"We are thrilled with the latest release of The Mortgage Office features and enhancements to our software,” said Jerry Delgado, CEO and co-founder of ABS. “We take pride in the work that we do to meet our customers' evolving needs. We know we operate in a changing regulatory business and thousands of our clients depend on us keeping up with the industry's changes and new regulations. We take pride in continuing to produce world-class software."
