Payment processing for mortgage services is cumbersome and requires expertise to avoid customer inconvenience. Payment processing services provide the required security options and support all irregular payment transactions including the following: Odd amounts Reversals Curtailments Adjustments Late charges Manual distributions Prepayment penalties Payoffs Returned check charges The benefits of payment processing services covered under mortgage processing services can be enumerated as follows: Add other distributions to lenders or vendors easily by selecting the other payments button. Access borrower's loan file directly from payment entry to verify information needed prior to entering payments by selecting the loan file button. Make payments from borrowers funds received or from funds held in trust Distribution button allows you to view and modify complete breakdown of how funds received will be disbursed with Excel-like spreadsheet interface. Pay charges (in full or partially) with the Pay Charges button. Color-coding is used throughout to highlight information user needs to see Select to Release, Hold or pay Immediate.
