Loan Servicing

The MITAS Loan Servicing system is a complete loan system allowing you to service a loan from original funding/closing through the foreclosure/REO process if needed. There are many built in "Amortization Types" allowing you to easily setup loans with periodic payments or simple interest accruals. We support sophisticated features such as interest deferring, interest compounding, forgivable principal or interest over time, shared appreciation, and many more. Additional features can be added at request for aggregate escrow analysis, accepting payments via ACH, credit bureau reporting, amortization of purchase expenses, online customer service portal and more.


Servicing Features
  • Borrower Information including HMDA data
  • Property Information including demographics such as political districts
  • Multiple Simple Interest Accrual methodologies including Scheduled Principal
  • Periodic Payment Amortization Schedules from Bi-weekly to Annual
  • Create Payment Rules for Interest Compounding, Loan Forgiveness, Balloon Payments and more
  • Create Multiple Investors per Loan and report on Activity and Balances by Investor
  • Disbursement Management including Approvals

Statements and Year End Reporting
  • Print Billing Statements
  • Print Activity Statements
  • Charge and Print Late Charge Letters
  • Print Payoff Statements
  • Print necessary Year End forms and create Electronic Reporting for IRS

Screens Included
  • Loan Master Listing
  • Loan Summary
  • Account Balances
  • Activity History
  • Payment Rules
  • Payment Control History
  • Disbursement Requests
  • Payoff
  • Investors
  • Investor Activity
  • Mortgagor
  • Mortgagor Addresses
  • Mortgagor Race Information
  • Property
  • Property Demographics
  • Year End
  • Insurance
  • Loan Totals
  • Loan Totals by Date
  • Account Totals by Date

Productivity Enhancement Tools

Requires additional training.

  • Notes and Comments
  • Form Creation (with merged data)
  • Date and Status Tracking (user defined)
  • Document Management (Imaging)
  • Workflow Management

Customer Service Portal

Optional. Requires additional fee.

  • Borrowers can view Principal Balance
  • Borrowers can view Accrued Interest
  • Borrowers can view Escrow Balances
  • Print Amortization Schedules
  • Print Year End Forms
More »
Reporting
  • Delinquency Report
  • Activity and Trial Balance Report
  • Print Amortization Schedules

We are The Mitas Group
As a family owned business, The Mitas Group, Inc. has been designing application software and implementing automated business solutions since 1969. We are a full service company offering application software, implementation services, and ongoing support.
ABOUT US »
Quick Links

230 E Hunt St, Ste 300, McKinney, TX 75069 | 972.547.6404 | sales@mitas.com ©2020 The Mitas Group, Inc. | All rights reserved