Byte Software, Kirkland, Wash., has released the BytePro Loan Modification Edition, designed to help servicers process modifications under the Treasury Department's Home Affordable Modification Program. The BytePro Loan Modification Edition allows servicers to process HMP modifications from initial borrower contact through completion of the modification. The company says the software calculates the interest rate, term, and balance of the modified loan in accordance with Treasury mandates. For loans that do not qualify for the HMP program, the software provides the ability to modify loans according to the lender's own parameters.
Processing Content
