Web/T.I.M.E ®

Overview

The Web/T.I.M.E ® solution from McDonald Computer Corp. provides a complete servicing platform for mortgage bankers.

Web/T.I.M.E ® is an automated on-line true real-time system. Major modules include inquiry, file maintenance, cash processing, investor reporting, escrow, customer service, collections, and default.

The ability to integrate with a platform is critical to achieving maximum productivity and return on investment. The Web/T.I.M.E ® supports flexible interfaces for key functions such as new loan setup, service providers (e.g. tax service, lockbox, ACH), and data warehousing.

In addition, for loss mitigation processing, Web/T.I.M.E has flexible queueing techniques to facilitate collections activity and delinquency reporting.

Web/T.I.M.E's automated tasks include: file maintenance, cash processing (on-line, real-time data entry, lockbox/phone transmission, and/or automated clearing house), escrow disbursements, escrow analysis, on-line and interactive collection system, automatic tracking of hazard insurance and force-placing of policies as necessary, investor reporting, customer service, tax service and IRS reporting, custom letter generation, and more.

Web/T.I.M.E ® has a complete year-end processing system including initialization of files, annual statement (if not included in coupon book), IRS reporting, escrow analysis and any desired special forms such as 1099s, etc.

The Web/T.I.M.E ® solution is designed to simplify the life of a mortgage servicer, maximize productivity, and reduce operational costs.

Web/T.I.M.E ® System Highlights

All functions are on-line, real-time.
Easy to use screens; 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 (> 900), screens, and procedures
Escrow analysis (individual loan or batch)
Automatic generation of payment coupons, letters, reports, billing statements, 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 on micro-fiche, hard copy, or PDF
On-line transaction history
Integrated customer service web site via myloaninfo ®.
Daily 100% year-to-date file reconciliation for ultimate data integrity
Password Security

Highlights by Functional Area:

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 Screens
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

Web/T.I.M.E 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

Web/T.I.M.E Web/T.I.M.E 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

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