Whether it be posting payments, printing reports, remitting checks, escrowing taxes, paying insurance premiums, or collecting on judgments, every software system provides complete range capability.
All software is guaranteed to meet the personalized specifications of each client's servicing work scope.
Additional software pricing is dependent upon the volume, complexity, essential features, and exact requirements in a customer's requested proposal. This process involves evaluation of our prospective customer’s current system, the credibility of proposed features, timeframe for system conversion and migration, accuracy validation of data conversion, implementation, training of users, and additional system enhancements.
All of the above details factor into the price for a professionally designed software servicing system.
Payments are applied to principal, interest due, interest shortage, interest carry-over, late fee, escrows, other, NSF, liens, suspense, expense, debt forgiveness, service fees, and linked to a transaction code, system number, employee code, bank code, and payee code. If necessary, payments can be fractionalized to an investor and checks can be remitted.
300 - Normal Payment
301 - Payment - Unpaid Fees Not Included
310 - Overdue Payment - Late Charge Included
320 - Overdue Payment - Late Not Included
325 - Overdue Payment - Partial Late Fee Paid
326 - Overdue Payment - Late Fee Waive Short
330 - Late Payment - Waive Late Fee
340 - Payment - Unpaid Fees Included
344 - Interest Reserve Payment
345 - Guaranteed Investor Remittance
346 - Payment - Void Remittance Records
350 - Normal Payment - Void Remittance
360 - Payment To Lender
370 - Distribution To Partners
385 - Partial Release / Principal Pay-Down
390 - Pay-Off - No Prepayment Penalty
394 - Pay-Off - Shortage No 1099-C
395 - Pay-Off - Prepayment Penalty Amount
398 - Pay-Off - Partial Charge-Off (FOD)
399 - Pay-Off - Forgiveness Of Debt
400 - Close Escrow Account
401 - Open Escrow Account
402 - Installation
403 - Funding
404 - Acquisition
405 - Late Fee
406 - Contra Adjustment
407 - Other Amounts Added To Suspense
408 - Other Income
409 - REO Income
410 - NSF Fee
412 - Extension
415 - Recording
420 - Forwarding
425 - Foreclosure
430 - Reconveyance
433 - Principal Draw (Debit)
435 - Principal Payment (Credit)
437 - Principal Capitalized (Debit)
438 - Accrued Principal Pay-Down (Credit)
439 - NonAccrued Principal Pay-Down
440 - Odd Interest Payment
445 - Prorated Interest Payment
449 - Refund
455 - Contingent Interest
460 - Extension Fee
470 - Adjust- Credit Principal / Debit Interest
475 - Adjust - Credit Interest / Debit Principal
493 - Escrow Contra Adjustment Payment
494 - Escrow Contra Adjustment Balance
495 - Account Balance Adjustment
499 - Document Charges
500 - Interest Earned On Escrow Balance
505 - Miscellaneous Escrow Payment
507 - Other Refund
508 - Tax Refund
509 - Insurance Refund
525 - Investor Buy-Out Transaction Payment
530 - Transfer Fee Payment
535
549 - Partial Principal Charge-Off
550 - Principal Charge-Off
557 - Exchange
558 - INREM
559 - Real Estate Lien
601 - City Tax
602 - State Tax
603 - Water Tax
604 - County Tax
605 - Township Tax
606 - School District Tax
607 - Real Estate Tax
608 - Other Government Tax
609 - Road Tax
610 - Accrued Interest
611 - Overpayment
612 - Road Fee
613 - Sewer Tax
614 - Road Maintenance
615 - Sales Tax
617 - Occupancy Tax
618 - Village Tax
629 - Vandalism Insurance
630 - Replacement
631 - Improvement / Repair
632 - Homeowners Other
633 - Miscellaneous Other
634 - Small Business
635 - Rent Payment
636 - Payment On Senior
637 - Payment On Junior
639 - Management Distribution
648 - Appraisal Fee
649 - Fee / Points
650 - Bank Fee
653 - Unapplied Payment Amount
659 - Insurance Premium
660 - FHA Insurance
661 - Flood Insurance
662 - Hazard Insurance
663 - Liability Insurance
664 - Earthquake Insurance
665 - Credit Life Insurance
666 - Mortgage Insurance
667 - Life Insurance
668 - Disability/Accident & Health
669 - Forced Placed Insurance
670 - Fire Insurance
675 - Escrow Balance Pay-Off Only
676 - Escrow Charge-Off
680 - Transfer Fee
695 - Unsecured Payment
696 - Deficiency Payment
697 - Miscellaneous Charge-Off
698 - Other Income
699
700 - Holdback
701 - Reserves
719 - Appliance
720 - Carry-Over
721 - Accounting
722 - Corporate Tax
723 - Annual Report
724 - BPO (Broker Price Opinion)
725 - Distribution To Partner Expense
728 - Inspections
729 - Commission
730 - Title
731 - Locks
732 - Weatherization
Our efficient software algorithms can accommodate any company's required key sorting values while maintaining data integrity and optimum speed performance.
10+ Years Experience To The Financial Services Sector
10+ Years Of Program Experience In Cross
Functional Projects
10+ Years Experience In Loan Servicing Software Environments
Strong Problem-Solving, Decision-Making,
And Resolution Skills
Record Requirements, Identify Roles And Responsibilities
Determine Skills, Cost Of Execution,
Timelines And Milestones
Project Conversion Cost, Budget, Staffing, And Resources
Allocation Of Mortgage Loan
Servicing System Program Resources
Implement Commercial Loan Servicing Software Features
Monitor Project Progress;
Ensure Variances To The Plans
Report Status To Stakeholders While Managing Deadlines
The software can print, void, or re-issue a check and reconcile bank account balances.
Checks are printed for investors, payees, vendors, expenses, escrows, property taxes, and insurance premiums.
The system lists unprinted check amounts to be released from its holding status. Once checks have been printed and mailed out, the user will track the check's bank account to verify the check's status as open, cleared, voided.
AMFG offers Windows based software servicing systems with several options working through the internet. Clients can use a database server as a backend with the ODBC Aware Database Server or utilize the Advantage Server Client with TCP/IP connection.
Our in-house software servicing language provides multiple development tools and meets all the servicing needs for each client. Our data software platform operates on an engine Access/SQL server that provides all users and developers a smooth migration to future-oriented loan systems. The database application development system and its corresponding add-on products result in a very flexible, scalable architecture. Using this technology, the integration of existing PC desktop solutions into enterprise-wide data processing infrastructures is possible.
Asset Management Financial Group (AMFG) is an experienced software consulting firm that solves intricate payment servicing, investor reporting, asset management, and general ledger financial processing practices.
Make a smart choice and convert to any easier system path to manage your workload. Each softwre processing task can be customized to your exact specifications.
AMFG's database integrity, system continuity, and speed performance offers an elite choice in a customized software system.