Mortgage Banking

Price: $1,995 | Upgrade: contact company | Copies sold: 50 - 99
Current version: 1.8.51 | Year released: 2004 | Year updated: 2005

Documentation:
  • on-line help

Description:
The Line of Credit/HELOC module for Loan Origination from The Mortgage Office™ fully automates the requirements commonly associated with originating Home Equity Lines of Credit (HELOCs).

Following is a brief description of some of the features supported within this module:

• Maximum credit limit
• Initial draw limit
• Maximum/minimum draw limits
• Adjustable-rate HELOCs, including margins, ceilings, floors, first and regular periodic caps, payment recalculations, and recasting
• Monthly or quarterly billing options
• Finance charge calculations based on average balance, daily balance, lowest balance or highest balance
• Finance charge calculations based on 360 or 365 days per year
• Automatic draw/transaction fee calculations
• Periodic account maintenance fee assessment
• Late payment charges

Computer operating systems:
  • Windows NT/2000/XP