The Mortgage Servicing Cloud cloud

Loan Transaction Engine

All loan instruments and types are supported including:

• Fixed-rate mortgages
• Government subsidy loans
• GPMs and ARMs
• Buydowns and Wraps
• Balloon loans
• Second mortgages
• Simple Interest loans 360/360 360/365; 365/365
• Commercial loans
• UCC financial and continuation statements
• Land contracts
• Equity loans
• BiWeekly loans
• Multiple Collateral

Cash Processing

Real-time posting of transactions.

Escrow Processing

Escrow is automatically collected, accrued and disbursed by the system. Accrual and non-accrual escrow disbursements are supported.

• On-line and delayed disbursement processing
• All input fully balanced prior to updating files
• Escrow analysis
• Web Interface for individual loans
• Mass escrow analysis 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
• Laser printed checks

Investor Reporting

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

• Auto portfolio forecast & reconciliation
• Unique all-in-one cutoff reporting
• Various aggregate reporting
• Single debit reporting
• Interim remittances
• Interest on escrow
• Complete FNMA & GNMA pool reporting
• FNMA Laser
• FHLMC pledged loan reporting
• FHLMC MIDANET I & II
• Data transmission
• Automated sale reversals & re-applications
• Bank reconciliations
• Census tract reporting

Customer Service

Easy to use tools and interfaces to help users respond to inquiries.

• Integrated loan search
• Up to the second loan information
• Multi-channel inquiry coordination
• Loan document management

Custom Documents & Statements

Ability to define and manage custom letters and statements. Documents are formatted to your specifications with embedded variable data. Documents can be printed on demand, in bulk at scheduled times or automatically generated based on pre-established selection criteria. Documents may be generated in electronic or physical formats.

• Specific documents generated on demand or overnight for individual accounts
• Automatically generated per a configured schedule in bulk based on user-selected parameters
• Automatic tracking of generated documents available to customer service or collections teams
• Offload high volume document generation to the MCC operations team

Documents Management

Flexible and scalable retention and access to mortgagor documents are provided by the document management module.

• Retention and Access to specific mortgage documents and statement
• Categorization of documents by type
• Ability to define an organization specific retention policy

Collections

The Collections module helps lenders collect delinquent payments, fees and late charges with a fully integrated and interactive collection system.

• Automatically track the progress of a user-defined foreclosure/bankruptcy procedure
• User defined time zone sensitive queues by collector
• Unlimited number of comments to track conversations/correspondence
• Automatic call back time/date
• User defined frequently used messages (action/result codes)

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.

Comprehensive Reporting

The platform supports a comprehensive set of management and operational reports.

• Over 400 standard reports are available
• Reports may be scheduled
• Reports may be requested on demand
• Reports are available in PDF and Excel compatible formats

Automated Hazard Binder Insurance

Automated monitoring and force-placement of hazard insurance.

• Configuration of loans to monitor
• Integrated mortgagor notifications
• Monitoring of insurance expiration
• Automatic placement and removal as needed of replacement policy

IRS Reporting

Year-end processing is fully automated.

• Automated file initialization and annual statements
• IRS electronic submission
• Escrow analysis and any desired special forms (1099s, 1041s Schedule Ks, etc.).
• Monitoring of insurance expiration
• Automatic placement and removal as needed of replacement policy

Credit Bureau Reporting

Automated mortgagor reporting to credit bureaus

• Configurable edits and controls
• Electronic submission

3rd Party Integrations

Integrated with a variety of 3rd Party Services and Providers

• New Loan Setup from loan origination systems
• Banking Systems for Teller Access
• Tax Service Providers
• Private Mortgage Insurers
• Hazard/Flood Providers
• Financial Systems
• IVR/Power Dialers
• Property Preservation Providers

MyLoanInfo Online Access

Mortgagors can easily register for secure online access to their loan account.  After logging in, they have access to the following features: