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Mortgage Servicer® is a user-friendly software solution that automates residential servicing operations, including payment processing, investor reporting, escrow administration, custodial accounting, imaging, report writing and more!

 

Additional Functionality:

Mortgage Servicer API
 
eStatus Connect
 
Mortgage Accountant
 
Real Time Access

Review the features below to learn how Mortgage Servicer® can benefit your company. For more information about our mortgage servicing software or to schedule a FREE DEMO, call 972.458.8583 or email info@fics.com to request a brochure.

 

Flexible Payment Processing

Flexibility is critical for loan servicers when posting complex financial transactions. With that in mind, FICS® has created the most comprehensive set of tools allowing easy posting for many types of payments and fees. Mortgage Servicer® has the solution to make payment processing fast, easy and accurate.

When posting payments to loans, payment processors can choose a variety of payment application methods. Real-time transaction processing features handle:

  • Payment and transaction reversals
  • Late charges
  • Adjustments
  • Loss drafts
  • Bankruptcy fees
  • Miscellaneous insurance
  • Pre- and post-petition bankruptcy payments
  • Unapplied or suspense funds
  • Interest-only payments
  • Returned check charges
  • Miscellaneous fees
  • Principal curtailments and disbursements
  • Foreclosure fees
  • Final payments
  • Charge offs
  • Non-cash payments
  • Option ARM payments
  • Manual payments

Batch payments. The option to process multiple payments in a single-batch job makes payment posting extremely quick and easy. Payments are posted in real-time, so there’s no waiting for nightly processing.

The Lockbox feature provides automatic payment processing from the file created by your lockbox vendor following your pre-established policies set for exception handling.

ACH Payment processing. Mortgage Servicer® initiates automatic payment withdrawal for borrowers by creating a draft file in the NACHA (National Automated Clearing House Association) format. This file may be submitted directly to the Federal Reserve or through a correspondent bank.


 

Flexible Payment Processing

Escrow Administration

Mortgage Servicer® users experience the highest level of escrow administration automation found in any servicing system. Previously hard to automate odd due dates and unequal frequency due dates are easily accommodated in Mortgage Servicer®.

Escrow analysis. Would you like to perform escrow analysis for an individual loan or a group of loans? Mortgage Servicer® takes care of both and conforms to applicable RESPA guidelines. The system allows you to select your options for the collection and spread of shortages and deficiencies, while also producing checks for overages based on your RESPA compliant guidelines. Initial, annual and payoff disclosure statements can be generated as desired. And when your borrowers call to inquire about their analysis, simply click, and you’ll have instant access to the most recent analysis right on the screen. You can even access all previous years’ analysis statements using Radstar®. Analyzing escrows has never been more accurate and more efficient.

Interest on escrow. If you desire to pay interest on escrow, or if your state requires it, Mortgage Servicer® provides the tools to automate it. Interest on escrow is calculated and added to the borrower’s escrow account balances based on state-specific rates and calculation methods. Interest on Loss Drafts is also accommodated.

Reports. Tracking escrow is easy with a wide variety of flexible tax and insurance expiration reports, notices and other detailed escrow activity reports.

Escrow premium updates. Updating tax bill and insurance premium amounts may be performed individually or in batches using the Batch Tax and Insurance Schedule program.

Escrow disbursements may be performed individually or in batches for scheduled tax and insurance payments. Day-end disbursement checks and check registers, along with multiple daily disbursement reports, make for easy disbursement account reconciliation.

Real estate tax service interfaces. Automate your tax payments even further using one of the many tax service interfaces embedded within the Mortgage Servicer® system.

Mortgage insurance. Import and export PMI renewal and disbursement data with insurance companies such as Arch, Genworth, MGIC, RMIC, Radian, United Guaranty and many more. FHA MIP renewals and disbursements are also automated. Annual PMI notices, which remind borrowers of the ability to cancel and terminate mortgage insurance, are automatically generated with the click of a button.


 

Flexible Payment Processing

Investor Reporting

Mortgage Servicer® provides you with the most comprehensive and flexible investor accounting tools available. You can establish hundreds of investor reporting groups with associated security holders or participants. The system supports all industry-standard reporting methods recognized in the secondary market and produces reconciliation, remittance, delinquency, prepaid and trial balance reports according to the chosen reporting method. The security holder program generates remittance vouchers, checks, check register and other reconciliation reports.

Automated Agency Reporting:

  • Ginnie Mae® I & II
  • Fannie Mae®
  • Freddie Mac®
  • Federal Home Loan Bank’s Mortgage Partnership Finance® (MPF Xtra®)
  • Federal Home Loan Bank’s Mortgage Purchase Program (MPP)
  • Federal Home Loan Bank's (MPF®)

 

Other Investor Reporting Methods:

  • Guaranteed Pass-Through
  • Mortgage Backed Security
  • Participation Pass-Through
  • Regular Pass-Through
  • Private Investors
  • Single Debit
  • CHFA
  • Prime
  • Net Yield
  • Aggregate Exception

 

Investor custodial accounts. Enjoy automated accounting for the transfer of funds between clearing accounts and investor custodial accounts using the optional Mortgage Accountant® system. The advance/recovery of P&I and T&I are automated for easy funds movement.

 

FICS® Investor Reporting Customer Testimonial
Hear one of our customers talk about what they like best about FICS' Investor Reporting.


 

Flexible Payment Processing

Easy Year-End Reporting

On December 31st, simply run the year-end close and enjoy your New Year’s Eve! You can easily view your year-to-date data in a year-end inquiry window.

In January, 1098s and 1099s for borrowers or investors may be printed or the information forwarded to your print vendor for painless reporting. A simple electronic submission to the IRS completes the process. 1099As and 1099Cs are also supported.

Reporting Data Changes. 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 easy.


 

Flexible Payment Processing

Collections/Delinquency Control

Mortgage Servicer® provides a robust set of tools—from proactive reminder notices to reactive collections work—that will assist your collections area in minimizing your delinquencies.

Collection queues. Collectors can work from their own customized queues on a comprehensive collection screen. Everything the collector needs to know about the loan – including past and current amounts due, delinquency history, past conversations with the borrower and promises made - will be available on one detailed screen. Log conversations, add notes, generate custom documents such as promise to pay letters, and schedule the next follow-up action. Send results of the collection effort to others through the automatic notification feature.

Late notices and reports. Notices and reports assist with all your collection work. With numerous options for reminders, late notices and several delinquent notices, inform your borrowers of their status. Several flexible delinquent reports assist management with evaluating loan status.

  • 15, 30, 60, 90 Delinquent Principal Balance Report
  • Amortized Delinquent Report
  • Collection Detail Report
  • Early Payment Delinquency Report

Late fees. By employing user-defined late charge formulas, Mortgage Servicer® automates the calculation and assessment of late fees.

Loan stops. Establish unlimited Loan Stops and warnings for loan payments, collections, payoff statements, modifications and more. A Loan Stops Report lets you easily manage stops.

Credit bureau reporting. Mortgage Servicer® creates a Metro 2® credit bureau reporting file for exporting all desired loans’ consumer credit information to the credit repositories.

Foreclosure and bankruptcy tracking. These features track and provide reports for the status of the loan through the foreclosure or bankruptcy process. Funds disbursed or received can be recorded and categorized for claim filing. Pre- and post-petition payment processing is also handled.

Agency and IRS reporting. FHA claim processing and delinquency reporting, RHS EDI Loan Default Status (264), Fannie Mae® default reporting, and Freddie Mac® EDR (Electronic Default Reporting) processing add to the automation process. Year-end reporting produces 1099As for acquisition of abandonment of property and the 1099Cs for cancellation of debt.

Loss Mitigation:

  • Repayment
  • Modification
  • Short Sale
  • Mortgage Release

For gathering the financials to a workout and beyond, Mortgage Servicer® accommodates the various mitigation needs.

Loan Alerts. Notify your staff of loans that need attention. Loan Alerts provide recognizable color coded flags for those special loans such as those with collections, foreclosure, bankruptcy and those on your company’s watch list.


 

Flexible Payment Processing

Additional Tools

  • Data Import
  • Billing
  • Electronic Viewing of Statements
  • Loan Export
  • Transfer of Servicing
  • Report Writer

 

Data import. 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.

Billing. Whether you prefer amortized loan statements, billed interest statements or coupons, Mortgage Servicer® offers you the billing method to match your organization’s approach. The flexible solution allows you to print bills in-house or outsource to a third-party print vendor.

Electronic viewing of statements. Since all system generated statements are automatically imaged and stored in Radstar®, borrowers have the capability of logging into online banking to view all their statements electronically through their PDF viewer. Borrowers can be notified via email through Mortgage Servicer® that their statements are available online to view as soon as the statements are generated.

Loan export, transfer of servicing. Do you sell loans in bulk or perform interim 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.

Report writer. Mortgage Servicer® comes bundled with a wide array of standard reports and notices. You can also create custom reports using the comprehensive, widely used SAP® Crystal Reports® report writer. Output reports to a wide array of file formats, graphs or even HTML to attach to your website or intranet. SAP® BusinessObjects Business Intelligence (BI) Platform makes distribution of your generated reports a snap.


 

Flexible Payment Processing

Innovative Features

  • My Work List
  • Radstar®
  • Customized correspondence
  • Memos
  • Report Bundles
  • Advanced Secuity Features
  • Maintenance History
  • Interfaces

My Work List. The My Work List feature makes navigating through daily to-do lists a cinch. My Work List allows users to query loans in Mortgage Servicer® based on individually-selected criteria, open the resulting loans to perform a task, and then refresh the list to return only those loans that still meet the criteria. A customized data retrieval can be used on-demand or selected to automatically display after login. Users work more efficiently by focusing only on the loans necessary for the task at hand. My Work List is completely customizable for each user, making it more efficient to perform individual job functions.

Radstar® is an integrated document and report management system that saves time, space and money by electronically imaging and storing all system-generated reports and documents. You can also store external documents, such as appraisals, financial statements, inspection results, as well as tax and insurance bills, for easy and convenient retrieval. With a wide selection of search criteria, retrieval of your documents and statements is an easy task from within Mortgage Servicer®. You can easily access loan-level documents and notices that have been saved to Radstar®. Improve customer service by giving your borrowers online access to electronically stored documents and statements via eStatus Connect®.

Customized correspondence. Create customized letters and correspondence with the Wolters Kluwer I-32® Forms Design software integrated right into Mortgage Servicer®. Creating customized borrower correspondence such as welcome letters, collection notices, promise-to-pay letters and servicing transfer letters is quick and easy.

Memos. Increase employee collaborations with the very powerful Memo tool. Store reminders, collection notes and conversation logs on the loan and memos to be sent to other users. A window will automatically appear on the designated date to remind you or another staff member of the event. Date and time stamps automatically update when creating or modifying a memo, and a resolution checkbox indicates if completed. Improve your workflow with the Mortgage Servicer® Memo tool and establish your own tickler file of pending events. You can also send borrowers messages for viewing in eStatus Connect®.

Report bundles. The FICS® Report Bundles feature helps you be more efficient. Simply group your desired reports into a named bundle and then select a specific bundle to print the associated reports.

Advanced security features. Customize the security administrator to match your organization’s needs. Security can be controlled at the group or user level for added flexibility. Limit users’ access to functions you select. Set up password constraints to match your company’s security policies. Built-in security reports let you easily monitor users’ access to the system and retain a permanent audit trail.

Maintenance history. Maintain a permanent life-of-loan transaction history on every loan for your own internal review and for your regulators as well. Separate payment histories for disbursement, late charge, bankruptcy/foreclosure fee, pre-petition payment, returned check charge, miscellaneous fee and lost draft, as well as audit field and year-end histories, make it easy and convenient to review loan activity. In addition, correspondence records are maintained for letters, notices and analyses sent to your borrowers.

Interfaces. Mortgage Servicer® comes with a wide variety of built-in interfaces with FICS® building new interfaces on a continuous basis. The system includes interfaces for coupon/statement print vendors, general ledger systems, taxing authorities, lockbox vendors, ACH, agency investors, bank and credit union core systems, report writers, forms design programs, IRS and on and on.

Mortgage Servicer® Administrator. Mortgage Servicer® is unsurpassed in terms of depth of customization, offering a complete module dedicated to the administration and customization of the system. Let us show you the power of this extremely customizable system.


 

Mortgage Servicer® Customer Testimonial
Hear what two of our customers have to say about the great features in Mortgage Servicer®.

 

What Our Customers Are Saying About Mortgage Servicer®

“The biggest challenge facing the mortgage industry has been the constant, fast and furious changes with government regulations—CFPB, HUD and Fannie Mae®. It’s very comforting knowing that FICS® has completely stayed on top of these regulatory changes. They update their software as quickly and as functionally as possible, so we can keep up and make sure we’re in compliance.”

Assistant Servicing Manager at a Mortgage Company,
Customer Since 1986

Mortgage Servicer® is a great product; it fits our size company and does everything we need it to do. Mortgage Servicer® has enabled our leadership to accomplish our business goals. It’s helped us smooth out our cash flows and generate service fee income as well as accommodate our niche market”

Assistant VP of IT at a Bank,
Customer Since 2010

 

Mortgage Servicer API

Mortgage Servicer® API allows you to schedule and automate virtually every program, report and interface in the system, eliminating after-hours work and reducing errors.

Read More
eStatus Connect

eStatus Connect® is a mobile-responsive web application that gives borrowers 24/7 online access to their mortgage loan information (such as loan statements and payment history).

Read More
Mortgage Accountant

Mortgage Accountant® provides automated accounting for the transfer of funds between clearing, custodial and company accounts as well as bank account reconciliations.

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Real Time Access

FICS’ Real Time Access® synchronizes mortgage information in your core data processor’s database with the FICS® Mortgage Servicer® database in a real-time environment.

Read More
 

Ready To Schedule A FREE Demo?

Call or Email us today!

972.458.8583
info@FICS.com