Mortgage Accounting Software

Mortgage accounting software systems are designed to provide automated accounting capabilities that simplify daily balancing related to distribution and movement of mortgage funds. It helps in effective management of escrow accounts, property, REO for investors, real estate transactions (purchase/sale, lease deposits, etc.), funds deposited by lenders, funds deposited by appraisals, and other client accounts.

The software uses accounting registers to display information in a recognizable and valid interface that can be viewed for all clients or a single client. It provides easy access to different processing functions through the context-sensitive menu or by using the command button at the bottom of the form. It allows users to enter adjustments, reconcile accounts, print checks, delete transactions, write checks, transfer funds, edit transactions and void created checks.

The software automatically reconciles client mortgage accounts with bank statements to point out any discrepancies that might have occurred during the loan repayment process. Users just need to mark checks and deposits made by customers that have been cleared by the bank to get the required reconciliation statement. Transactions that are not reconciled are classified separately into checks and deposits and their progress is continuously tracked in the reconciliation summary section. The user-friendly interface also displays the total number of cleared checks and deposits and their respective totals.

Apart from these, the software also helps in automating funds movement from payment clearing account, funds movement to disbursement clearing account, advance/recovery of P&I and T&I, General ledger report and interface, investor remitting, register checking, and cash book balancing.

The software is compatible with the entire Microsoft Office Professional line and allows users to use their loan servicing data with Microsoft products such as Excel, Word, and Excess. It requires ample amount of hard disk space based on the amount of data entered for processing. As a general rule, the processing of 1000 mortgage loan files takes about 100 MB of disk space.

Mortgage Software provides detailed information on Mortgage Software, Mortgage Loan Software, Mortgage Banking Software, Mortgage Broker Software and more. Mortgage Software is affiliated with Real Estate Investment Software.

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By Kristy Annely