NoteMinder uses real-time transaction processing to allow operators to review how payments and disbursements are calculated at the time of posting. This, along with other advanced features, simplifies posting, corrections and the re-issuing of disbursements.

All transaction data is organized according to date, allowing users to run current and prior period reports at any time. Maintaining records in this manner also makes it possible to print account histories, month-end reports, day-end reports or tax forms from any time period.

Each loan record allows as many payers, sellers and disbursements as are required. Disbursements can be paid when payments are posted, or delayed to disburse on a specific date or periodic cycle. Disbursements can be added or changed while posting payments for efficient exception handling.

NoteMinder automatically calculates late charges when payments are posted, regardless of the complexity of the method. The software has the capacity to handle any such requirement, including default interest and step-rate system where the late charge penalty varies over time.

With NoteMinder, reserves (including taxes, insurance and all other impounds) are managed automatically. These sums can then be disbursed automatically or selectively, giving operators full control over which impounds are paid and when. Reserve analyses and forecasts allow new impound amounts to be adjusted with minimum effort. NoteMinder allows for both retained and pass-thru reserves, to handle the most challenging impound needs.

Notes and tickler memos can be added to accounts to assist in managing date-sensitive actions. A tickler report can be generated at any time. User-defined comments can also be printed on payment coupons, receipts and seller advices, to provide special instructions to customers.

Loan document images are easily retrieved using NoteMinder's document management features. Loan documents held in escrow can be viewed and printed, giving operators efficient access to images of notes and contracts from their workstations.

NoteMinder's letter writer integrates with Microsoft Word to allow unlimited form letter templates. This allows for the infinite customization of payoff letters, demand letters, new account letters, etc.—all mail merged into routine correspondence using customer data.

Seller assignments and buyer assumptions are easily processed. Upon completion, the data for both the prior and incoming party remains on the system, and NoteMinder automatically adjusts the year-end tax information based on the assignment date. This ensures each party receives correct tax information, leaving no need to set up a new account for an assignment or assumption.