Mortgage Servicer® 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 providing options for the disbursement of overages based on your custom defaults. Initial, annual and final disclosure statements can be generated as desired. When your customers call to discuss their Escrow Analysis, with a couple of clicks in Radstar®, our electronic imaging tool, you will have immediate access to their specific escrow analysis documentation. Either current or previous years, it’s all at your fingertips. 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
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, Enact, 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.