Kirkland, WA (PRWEB) Could 11, 2009
Byte Software program, an innovative leader in safe and inexpensive application for banks, credit unions and mortgage brokers, announces the release of the BytePro Loan Modification Edition, supplying servicers with an all-in-one particular software program tool for processing modifications under the Treasury’s House Affordable Modification Plan (HMP).

The BytePro Loan Modification Edition enables servicers to procedure HMP modifications from initial borrower contact through completion of the modification. It automatically calculates the interest price, term, and balance of the modified loan in accordance with Treasury mandates, and it produces all the documents that have to be executed by the borrower and servicer. For loans that do not qualify for the HMP program, the application provides the potential to modify loans according to the lender’s personal parameters.

The HMP program was announced by the Obama Administration on February 18, 2009 and is anticipated to support amongst 3 and 4 million borrowers by minimizing their monthly mortgage payments to cost-effective levels. All servicers of Fannie Mae and Freddie Mac mortgages are required to provide loan modifications below the plan. Servicers of non-Fannie Mae and non-Freddie Mac loans can also participate and receive incentive payments from the Treasury.

Byte Computer software is a division of CBCInnovis, whose true estate settlement services are seamlessly integrated into the application. The application can be utilized to order credit reports, property valuations, fraud detection reports, and title solutions. CBCInnovis is 1 of only six authorized resellers of Freddie Mac’s HVE