Applied Business Software Inc. (ABS), developers of The Mortgage Office® and The Loan Office® software, is excited to announce a major update to its signature loan servicing software The Mortgage Office®.

The Long Beach based software company, the industry leader in loan servicing software, released this extensive update with dozens of enhanced features to its world-wide customer base.

Consistent with Applied Business Software’s development approach, below are some of the highlights included in version 2.1.7.60.

  • Text Messaging: Customers can now send text message notifications alerting their borrowers and lenders of upcoming scheduled transactions such as auto-payments, payments received, ACH deposits to lenders and much more.
  • GeoMapping: In a partnership with MapQuest, ABS has created the ability to generate interactive location maps for all or selected loans in The Mortgage Office®.
  • New Electronic Payments Partner: ABS has partnered with Payment Data Systems to offer its customers multiple options for real time Credit Card and EFT payment processing, both within The Mortgage Office® and through ABS’s web portal site: com.
  • New Prepayment Penalty: This added feature calculates guaranteed interest through the expiration date. Payoff can now include outstanding months of guaranteed interest.
  • Billing Statement Notes: Include user-defined notes on line of credit, commercial and construction billing statements.
  • Closing Statement Notes: Include user-defined notes on line of credit, commercial and construction closing statements.
  • Logically Group Attachments: Easily organize auto-created attachments by using a user-defined tab metaphor.
  • Military State Codes: Seven US Military/State Abbreviations added.
  • Lender/Purchaser Disclosure Statement: Updates to the LPDS RE851A and LPDS RE851D documents with BRE changes from revision on 8/16.
  • Auto-Pay Email Notification: A new email template has been added to notify borrowers of a pending ACH debit (auto-pay).
  • Updated 2016 Tax Forms: The IRS forms 1098, 1099INT and 1099MISC have been updated to comply with IRS changes for tax year 2016.
  • And much, much more.

Jerry Delgado, CEO & Co-Founder, commented: “We are thrilled with the latest release of The Mortgage Office® features and enhancements to our software. We take pride in the work that we do to meet our customers’ evolving needs. We know we operate in a changing regulatory business and thousands of our clients depend on us keeping up with the industry’s changes and new regulations. We take pride in continuing to produce world-class software”.