Product
Release Notice
March 2006
 Introducing
The Mortgage Office™ Version 1.8.75
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 newest release of The Mortgage Office™. This update contains exciting new features and enhancements that will benefit you and your business.
You may download the update from this site, or if you prefer to receive a CD-ROM by mail, we require that you fill out, sign, and submit a Software Update Request form via U.S. mail or Fax. The updates will be processed in the order received.
As always, we welcome your comments and suggestions regarding the quality and usefulness of our products. Your comments help us improve our products to better meet your needs.
Thank you for your continued support of The Mortgage Office™.
Best Regards,
ABS Software Development Team
|
| About Product Updates |
Keep your software current. Applied Business Software is 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 best level of support possible.
How to obtain your update. Customers under a current ABS Software Maintenance Agreement may obtain the update via the Internet or via CD-ROM. Internet downloads are accessible by means of the Online menu of The Mortgage Office™. CD-ROM updates may be obtained by submitting a Software Update Request form.
|
| Loan Servicing |
Escrow Voucher Checks. Unchecking the Consolidate Checks by Vendor option now allows you to produce one check per voucher. Additionally, the check payee contains information identifying the loan and voucher being paid. Those companies providing "bi-saver" or "bi-weekly" services will find this feature invaluable.
Sample Print Checks Dialog
|
| Partnership Servicing |
ERISA Plans Ownership Report. The ERISA Plans Ownership Report was redesigned to correctly display current ERISA ownership and available ERISA contribution.
Sample ERISA Plans Ownership Report
|
| Loan Origination |
Revised Mortgage Loan Disclosure Statements. The California Department of Real Estate revised forms RE 882 (Mortgage Loan Disclosure Statement (Borrower)) and RE 883 (Mortgage Loan Disclosure Statement/Good Faith Estimate). This release contains the updated forms.
Sample Mortgage Loan Disclosure Statement
|
|
| Escrow Closing Statement. The Escrow Closing Statement has been modified to account for specific terminology commonly used for HELOC and lines of credit transactions.
Sample Escrow Closing Statement for HELOC and Line of Credits Transactions
|
| New Business Partner - Quickbooks Interface |
New Partnership Offers QuickBooks Integration Services. Many ABS customers use Intuit's Quickbooks product and have a need to integrate The Mortgage Office with Quickbooks. Applied Business Software has partnered with New Jersey based Atandra for its expertise in QuickBooks integration.
Atandra is recognized as a Premier Developer on Intuit's network and has deep knowledge in integrating QuickBooks with other systems. Learn more about their software for The Mortgage Office (link to http://atandra.com/Prod_DFM.htm ) and other solutions (link to http://atandra.com/index.htm ). 
|
| |
| Additions, Modifications & Corrections |
This section includes minor enhancements, modifications and corrections included in this release of The Mortgage Office™. Many of these are the result of suggestions made by customers and help us improve The Mortgage Office™ to better meet your needs.
Applies
To |
Description |
| Loan Servicing |
ACH Processing. A problem when processing a large number of ACH voucher checks has been corrected. In addition, the process has been optimized and it is now much faster. |
| Partnership Servicing |
Shares Based. Transaction notes entered while editing a partner or partnership history record directly were not persisted. |
| Partnership Servicing |
Capital Based. Transaction notes entered while editing a partner or partnership history record directly were not persisted. |
| Loan Servicing |
Lines of Credit. The system is now able to calculate the ownership percentage for short billing periods even when the funding was not done via the draw entry program. |
| Loan Servicing |
Lines of Credit. The system has been enhanced to allow the processing of zero draws to transfer funds (ownership) between lenders. All interest and servicing fees are prorated accordingly. |
| Loan Servicing |
Lines of Credit. A potential problem that could surface when billing lines of credit loans with start billing days of 29, 30 and 31 has been corrected. |
| Loan Servicing |
Lender Statements. A problem when printing lender statements for loans with zero Apply to P&I while selecting the Print Net Rate/Payment option has been corrected. |
| Loan Servicing |
Several Reports. A cosmetic bug that caused text to wrap when printing reports with values larger than space allocated has been fixed. This affected several reports. |
| Loan Servicing |
ACH Processing. The width of the loan number column of the Borrower Notification of Electronic Deposit has been enlarged. |
| Loan Servicing |
Lines of Credit. An error was generated when printing a borrower Account Closing Statement if an unpaid charge had a description larger than 60-characters. The description has been increased to 255-characters to match the new charges module. |
| Partnership Servicing |
Shares Based. The decimal precision of shares when printing the Partnership Statement has been increased to 4 decimal places. |
| Partnership Servicing |
Capital Based. The decimal precision of shares when printing the Partnership Statement has been increased to 4 decimal places. |
| Partnership Servicing |
Shares Based. The width of the partner account number in the Partnership Statement has been increased to accomodate larger accounts. |
| Partnership Servicing |
Capital Based. The width of the partner account number in the Partnership Statement has been increased to accomodate larger accounts. |
| Loan Servicing |
Printing Notices. A cosmetic bug has been corrected on the Beneficiary Statement. The note rate was being printed with currency decimal precission. |
| Loan Servicing |
Adjustable Rate Mortgages. A potential problem that caused loans to be skipped during Calculate Rate & Payment Changes when a problem loan was encountered has been corrected. |
| Partnership Servicing |
Shares Based. The cash balance reported when printing Partnership Statements included the entire account's balance instead of the partnership's client balance. |
| Partnership Servicing |
Capital Based. The cash balance reported when printing Partnership Statements included the entire account's balance instead of the partnership's client balance. |
| Partnership Servicing |
Shares Based. You are now correctly required to rerun the Share Value Assistant if you have selected the daily calculation method and a transaction entered modifies the number of outstanding shares or partnership value. |
| Partnership Servicing |
Shares Based. The system now prevents users from entering partner or partnership transactions while a partnership distribution is in progress. |
| Partnership Servicing |
Shares Based. If a partnership distribution was previewed and not applied the adjusted cash on hand in the share value table was adjusted. This problem only affected daily calculation method. |
| Partnership Servicing |
An option to exclude a partner's IRR on the statements has been added. |
| Partnership Servicing |
Shares Based. A cosmetic error caused the Schedule-K1 report to incorrectly display $999,999,999.99 in the Withdrawals & Disbursement field. |
| Partnership Servicing |
Capital Based. A cosmetic error caused the Schedule-K1 report to incorrectly display $999,999,999.99 in the Withdrawals & Disbursement field. |
| Loan Servicing |
Categories. An empty blank category was added to the category master table if the user clicked cancel when entering a new category. |
| Loan Servicing |
Categories. The categories have been enhanced to allow user to ‘merge' two categories by renaming one as the other. |
|
