PDS
Note & Mortgage
Note
& Mortgage, a complementary arm of the PDS Trust Real Estate Management
System, is designed to allow you to efficiently and effectively manage
your customers' note and mortgage assets. If loan management is your
primary interest, NMSS can be installed as a stand-alone system.
Note
& Mortgage provides an accurate inventory of note and mortgage assets
and the information needed to quickly answer questions posed by administrators
and clients.
Various input screens allow a wide variety of information to be entered
and tracked for each loan. Information such as description and classification,
balance, payment history, escrow, payment allocation, and collateral
information are maintained in the database.
Note
& Mortgage also efficiently handles the operational aspects of loan
management. A single screen handles all revenue entry functions with
the flexibility to easily adapt to one-of-a-kind situations. Loan
payments are entered at the loan level and automatically split between
principal and interest among the owning trusts.
Note
& Mortgage manages the following information categories:
ASSET
MANAGEMENT
- Adds functionality for note and mortgage processing to real estate
software
- Support for demand notes, notes with variable interest rates
- Wide variety of interest calculation types and interest bases
- Many different payment frequencies, including user-defined loan
payments
- Automatically calculates amortizing payment as default
- Interest-only or principal-only payments
- Fixed principal plus accrued interest payments
- Balloon payments
- Multiple payment amounts and due dates
- Escrows/impounds for taxes, insurance, etc.
- Appraisal, inspection, and annual review monitoring and reporting
REVENUE PROCESSING
- Partial payments are easily booked
- Overpayments can be applied to subsequent months or to principal,
if permitted
REPORTING
- Amortization schedules can be created based on either an existing
note or for note and payment information entered at that time
- Loan payment history
- Annual loan statements and 1098 reporting
LIABILITIES
- All the functionality of the note and mortgage system is available
to manage liabilities owed by your accounts. TRMS automatically
generates a check to make the liability payment in a timely manner.
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