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Customer Inquiry
A “Loan Snapshot” screen displays pertinent loan information, including a scrolling payment history, paid-to-date, delinquent statistics, ARM plan information and total amounts due. The “Amortization” screen enables the user to run "what-if" scenarios .
Customer Information File
All borrower tables are linked relationally to the loans. Each table can be separately maintained and the number of borrowers connected to a loan is unlimited. The servicer may communicate with the borrower via telephone, fax or e-mail options.
New Loan Setup
Servicing is fully integrated with the Residential Lending System. When a funding date is entered into the LOS, loans are automatically placed in the new loan control queue in the Servicing system. As payments are made on new loans, the current due dates and balances are updated in the LOS.
Escrow Analysis
Escrows, including aggregate analysis, are fully supported. The Escrow Analysis Summary screen presents the last three years’ analyses side-by-side.
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LoanQuest™ Servicing is an economical, web-based system that is versatile enough to function with the Residential Lending System or as a separate system. Servicing has been developed using the latest Microsoft™ .NET technology and written in common language descriptions, eliminating codes.
The real-time processing inherent in LoanQuest™ Servicing allows for immediate updating of the database. Audit trails are maintained to identify specific activities. Detailed information including data, time, and source (external process, employee, or agent) is kept in maintenance and payment history files.
Servicing supports all investor requirements, including Fannie Mae, Freddie Mac, and Ginnie Mae pools. Investor information and servicer specific information is stored and controlled by the user. User-controlled parameters control remittance options, report formats and report schedules. Real-time information is provided to aid in the balancing and remittance process. Individual investor remittance history is maintained and easily accessed through online screens.
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More information...
Call 800-326-3539, Sales for a demonstration or click here to
read more...
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24X7 Web Access
LOS Integration
Real-time Status
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Payment Processing
Payment processing is real time and group-controlled. This module includes loan level unapplied and suspense controls. Cash and non-cash reversals are supported.
Disbursements
Escrow disbursements, borrower refunds and claims processing are supported. Each of these is controlled through a batch process, and a detailed escrow disbursement history is available on a real-time basis for review.
Arm Loans
ARM loans are attached to an ARM Plan. User-defined indexes are easily maintained. Nightly “triggers” identify rate change and automatically set pending payment changes with the required borrower notifications.
Default
Servicing provides user-defined queues for collections, foreclosure, and bankruptcy. All processing is workflow-based using user-defined templates. The user can maintain any number of templates by such parameters as state or type of bankruptcy. Process exceptions, or dates missed, are sent to a supervisor exception queue on a real-time basis. Default statistics are available on-line and include three months' trend analysis.
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