WaterfallCalc.com, an affordable, user-friendly loss mitigation waterfall calculator designed to meet the needs of all FHA mortgage servicers, has released Version 2.0 of its popular software, according to an announcement from the Grand Rapids, Michigan-based company.
The software update includes a streamlined look, providing more dashboard information at a glance. Enhancements made to Version 2.0 include upgraded authentication security through Microsoft Live, data import/export capabilities, advanced management reporting capabilities, and easy-to-read charts for quick snapshot summaries.
Version 2.0 also includes regulatory updates to ensure compliance with FHA rules and Mortgagee Letter releases.
"We are grateful to our long-time well-established partners for providing feedback on this software that they use on a daily basis, and we are excited to release these changes for them," said Donna Schmidt, Co-Owner of WaterfallCalc.com. "We are constantly looking for ways to extend the value of WaterfallCalc.com, and deliver the most useful, robust product."
The company plans to release WaterfallCalc.com Version 2.1 in the next 90 days. This update will allow users to create recordable mortgage modification and subordinate mortgage documents in real time at the touch of a button, based on calculated results. This enhancement eliminates the possibility of indemnification or negative amortizing loan balance due to a typographical error.
WaterfallCalc.com was created by Donna Schmidt, Managing Director of DLS Servicing Consultants, and Andy Tabisz, President of Worksmart Database Masters, to accommodate the need for fair and consistent FHA loss mitigation, according to the company.