Tech Firm Automates Short-Term Loan Maintenance

Southfield, Mich.-based Mortgage Builder Software Inc., a provider of mortgage lending software, has released an alternative system for mortgage bankers needing interim servicing capabilities for short-term loan maintenance.Mortgage Builder's Interim Servicing capability allows mortgage bankers to track and post a borrower's loan payments on a short-term basis, until another lender purchases the loan. The interim servicing option automates the process of accepting loan payments on a temporary basis and eliminates the need for a full-featured servicing system, the company said. Mortgage banks can apply borrowers' payments toward the loan principal, interest, or future escrow disbursements, as well as print payment histories and payment coupons for their borrowers. Mortgage Builder can be found on the Web at http://www.mortgagebuilder.com.