Loan Servicing System 2016-12-30T17:36:31+00:00

Loan Servicing System (LSS)

MC Software provides a comprehensive loan servicing solution. Investor reporting, payment processing, Dodd-Frank compliant coupons and monthly statements, escrow accounting/analysis, collection system, late notices, bankruptcy reporting, foreclosure tracking, modify audit trail, comments section and payoff are some of the items included. Reporting includes investor, management, report writer tool, credit bureau and IRS.

The Servicing package handles all types of real estate loans having various interest rates, terms, and repayment methods. Companies with large commercial loans in the hundreds of millions, companies with 150,000 loans to a company with only 100 loans. The software handles the collection of escrow funds and funds for reserves for replacement. The Servicing package offers an efficient Collection package, Bankruptcy and Foreclosure Control, and escrow analysis.

  • Loans Closed & Funded move directly to Servicing – no dual entry
  • Teller, back office, automatic and ACH payments
  • Monetary activity creates Accounting entries
  • Automated Reversals
  • Instant Loan Payoff Quote/Entry
  • Coupons, monthly statements compliant with CFPB
  • Paperless e-mail statement notification
  • Web based loan information available to your borrowers
  • Amortization types such as Fixed and Adjustable Rate
  • Various payment frequencies
  • Credit Bureau Reporting
  • Investor Reporting
  • Participation Loans
  • Escrow Tracking
  • Collection System
  • Bankruptcy Reporting & Recovery Ledger
  • Foreclosure Tracking
  • Comments by loan
  • Department and Management Reports
  • IRS Reporting
  • Report Writer tool

Having It All Together!

MC Software offers not just a single function but a software package for residential, commercial, land and construction loans, home equity lines of credit, commercial lines of credit, pools, general ledger and accounts payable accounting, and cashbook reconciliation. A software package capable of reporting to Credit Bureaus, Investors, Federal Reserve, FDIC, NCUA, Fannie Mae, Freddie Mac, FHA, VA, FHLB, IRS, HMDA, and State Housing Agencies.
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