Mortgage Servicer provides state-of-the-art compliance with recognized escrow administration rules and techniques.
 
The system provides you with an automatic tax and insurance disbursement tool that simplifies the job of correctly paying items from escrow. Vendor interfaces are available for servicers who utilize an outside vendor for tax and insurance disbursements.
 
FICS also supports select coupon vendors, to simplify the process for producing and mailing coupons, escrow analysis, year-end statements, 1098's, and 1099's.

• To ensure that payments are remitted in a timely manner, the system produces Unpaid Tax Lists and Insurance Expiration Reports.
   
  
• Remittances can be structured for individual loans or payees.
   
  
• Disbursement checks and vouchers can be created daily (they fit standard window envelopes for easy mailing).
   
  
• The system supports disbursement stop codes by loan for payee disbursement items and interest payments on impounds.

• You determine the rounding method for the escrow payment, the number of escrow payments that are allowed as reserves, the disposition of overages (full refund to borrower or reduction of escrow payment) and the disposition of shortages (full remittance from borrower or increase in escrow payment). The system also provides for a customized borrower notification.

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