On December 31st, simply run the year-end close and enjoy your New Year’s Eve. All year-to-date data is stored along with loan and borrower information in a year-end inquiry window and is also saved to a permanent history record for future lookup. In January, 1098’s and 1099’s may be printed or the information forwarded to your coupon vendor for painless reporting. A simple electronic submission to the IRS completes the process. 1099A’s and 1099C’s are also supported.
The year-end corrections window allows changes to year-end information for the subsequent reprinting of corrected year-end statements. Correcting data for transmission to the IRS is also easily accomplished.
Are you manually inputting new loans? With our import feature, importing loan data from an external source into Mortgage Servicer for an individual loan or a mass of loans is a breeze. This user defined data import feature can be used to set up new loans, or it can be used to update existing loans with additional loan information.
Whether you prefer amortized loan statements, monthly bills, bill and receipt, or coupons, Mortgage Servicer provides you the billing method to match your organizations’ philosophies. If you choose a 3rd party coupon vendor to print your books, you can also include the aggregate escrow analysis, substitute 1098, FHA prepayment notice, SSN verification request, coupons, mailing labels, and other solicitations offered by your coupon vendor.
Fax or Email Reports and Letters
Since we built Mortgage Servicer to take full advantage of current technology, you have the ability to fax or email reports and letters directly from your computer. Simply install your favorite fax software or PDF writer, and choose the fax or email option in the printer window to eliminate printing altogether, or send the Radstar generated PDF file of your report or letter.
Loan Export, Transfer of Servicing
Do you sell loans in bulk or perform flow servicing? The loan export tool will greatly automate the transferring of loans to other servicers. Not only does it create export files, but it also handles the loan payoff as either a cash or non-cash transaction. Other features such as the ability to add stop codes to the loans, print memos and histories, report the transfer to the credit bureaus and calculate interest on escrow make the transfer of servicing simple.
Mortgage Servicer comes bundled with a wide array of reports and notices, but we realized to make a system really flexible, we had to include a state-of-the-art report writer. We elected to incorporate the extremely comprehensive and widely used Crystal Reports report writer, enabling you to create any report you desire. Create simple queries or reports with math calculations and calculated columns. Output reports to a wide array of file formats, graphs, or even HTML to attach to your web site or intranet. Business Objects Enterprise (BOE) makes distribution of your generated reports a snap.