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Platform - Capabilities

The Mortgage Servicing Cloud is a fully featured mortgage servicing solution.

Batteries Included...

A complete solution for residential mortgage loans or reverse mortgages that includes the following capabilities:

  • All functions are on-line, real-time.
  • Easy to use interfaces; functions are easy to learn and perform.
  • All loan instruments and loan types are supported such as, fixed rate mortgages, government subsidy loans, GPM’s, ARM’s, Option ARMs, Home Equity, HELOC, Buydowns, Wraps, Balloons, Seconds, Commercial loans, Land Contracts, BiWeekly Loans, B & C paper, Reverse Mortgages and many more.
  • Extensive portfolio of standardized reports (400+), views, and procedures
  • Escrow analysis (individual loan or bulk)
  • Automatic generation of monthly statements, letters, reports, etc.
  • On-line letter writer featuring user control over letter content and letter variables
  • Interactive on-line collection system, that monitors delinquencies daily and prompts collectors
  • Fully-automated hazard binder insurance program
  • Reports via Excel compatible files, hard copy, or PDF
  • On-line transaction history
  • Web based mortgagor customer self-service via MyLoanInfo ®.
  • Daily 100% year-to-date file reconciliation for the ultimate in data integrity
Cash Processing

  • Payment Coupons and/or Monthly Statements
  • Payment Coupons automatically generated
  • Tight balancing controls maintained
  • Extensive Edits
  • On-line cash processing for entry of individual payments, lock box, automated clearing house (EFT), or data transmission
  • Assortment of transaction codes to differentiate types of payments
  • Multiple suspense balances and stop codes
  • Automated payment reversals
  • Multiple suspense balances and stop codes
  • On-line transaction history, payments due menu
  • On-line File Maintenance history
Escrow Processing

  • Accrual and non-accrual escrow disbursements are handled
  • Escrow is collected, accrued and disbursed by the system
  • On-line and delayed disbursement processing
  • All input fully balanced prior to updating files
  • Escrow Analysis (on-line for ad hoc and mass at scheduled intervals)
  • Accrual items divided into three categories (taxes, hazard insurance, and MIP’s)
  • Automatic escrow overdraft advance & reimbursement
  • Interest on escrow, as required
  • Multiple optional insurance processing
  • Disbursement checks issued by the system
  • Tax Service Interfaces
Default Servicing

An interactive, on-line collection system monitors delinquencies and prompts collectors to call delinquent mortgagors at specified times or under specific conditions.

  • Default queueing to assist in loss mitigation processing
  • On-line comment files
  • Accomodates numerous due and delinquent dates
  • Input unlimited number of comments to track conversations/correspondence
  • Follow-up prompts are automatic
  • Complete loan by loan payments due menu
  • Automatic generation of delinquent notices
  • Generated a myriad of management reports
  • Automatic calculation of late charges and generation of late notices
  • HUD SFDMS, PMI delinquency and credit bureau depository reporting
  • Automated property inspections
Investor Reporting

Investor reporting supports all investor requirements, including GNMA, FNMA, FHLMC and MBS pool reporting. Year-end reporting include user selectable statements, all IRS required forms and reporting.

Auto portfolio forecast & reconciliation.

  • Unique all-in-one cutoff reporting
  • Various aggregate reporting
  • Single debit reporting
  • Interim remittances
  • Interest on escrow
  • Complete FNMA & GNMA reporting
  • FNMA Laser
  • FHLMC pledged loan reporting
  • FHLMC MIDANET I & II
  • Electronic Data Transmissions
  • Automated sale reversals & reapplications
  • Bank reconciliations
  • Census tract reporting
Customer Service

Customer service has complete documentation, history and letter writing features to help you maintain excellent customer relations.

  • On-line inquiry – all mortgagor data is up-to-the-moment accurate
  • Cross Reference/Lookup Capability
  • On-line history of transactions and on-line file maintenance history
  • On-line letter writing
  • Automatic prompting of customer service representatives to call mortgagors at specified time or under a specific condition
  • Input unlimited number of customer service comments to track conversations/correspondence
Universal Tracking

The platform supports a universal tracking sub-system that allows users to track any procedure they desire. Such as:

  • Bankruptcy Tracking
  • Payoff Tracking
  • Document Tracking

The system tracks start, stop and completion dates with comments associated with each event. A complete set of tracking reports are provided.

Reverse Mortgages

The platform performs the following functions related to the processing of reverse mortgages:

  • Monitors the five payment plans; term, tenure, line of credit, modified term, modified tenure and combinations thereof
  • Distributes the monthly payments to the homeowner via an eft deposit or by mail
  • Tracks the principal balance along with the limits and balances related to set asides; line of credit, service fees, taxes & insurance, repairs and other
  • Calculates and posts service fees to the eom file
  • Calculates, posts and electronically transmits the MIP premium to HUD
  • Calculates the monthly interest earned on the previous outstanding principal balance and activity during the month
  • Automatically handles the ARM rate changes
  • Prepares a monthly and annual statements
  • Prepares the annual occupancy certification letter
  • Handles credit bureau reporting
  • Handles IRS reporting
  • Handles investor reporting
  • Maintains customer service recording, tracking and letter writing
  • Tracks and disburses taxes and hazard insurance items
  • Handles property inspections