How to add a trust account?

Click on Trust Accounts in the left panel of The Mortgage Office®.
Select Trust Accounts (All) just below the Trust Accounts drop-down.
From the All Trust Accounts grid, click New from the options available in the top panel.
The New Account assistant has 5 different tabs: General, ACH, Attachments, Reconciliations, Notes.

NOTES:

The Attachments, Reconciliations, and Notes tabs are not required when creating a new account. A user can enter details later.
Each trust account has a register. The register works like the check register that comes with your paper checkbook, but with additional functionality.

Enter the following information in each tab:

General Tab:

Field:

Description:

Account Name

Enter the account name. (Maximum of 64 characters)

Check Style

Select a check style from the drop-down list. The available options are:

ABS Multipurpose Laser Check (Default)
ABS Loan Servicing Laser Check

Active

Use this option to activate or deactivate an account.

Bank Name

Enter name of the bank in which the account is held. (Maximum of 64 characters)

TIP: When a new routing number is entered, it is matched against a database of U.S. Bank Routing Numbers containing thousands of records, and if a match is found, the bank's name and address are automatically filled.

Bank Address

Enter bank's address. (Maximum of 255 characters)

Routing Number

Enter the routing number of the bank or financial institution where the account is held. (Maximum of 9 characters)

Account Number

Enter the number of the bank account. (Maximum of 17 characters)

Account Type

Select Checking or Saving from the drop-down menu.

Currency Code

Select the 3-letter currency code for this account.

See a list of currency codes here.

Interest Bearing Account

Select this option if this is an interest-bearing trust account and you want to pay interest to clients on the balances held. Once selected, enter the following information:

Interest Rate

Enter the annual interest rate. This is the interest rate used to calculate each client's interest due.

Daily Rate Basis

Select this option to calculate daily interest based on a 360-day or 365-day year.

Calculation Method

Select the method used to calculate interest from the drop-down list. The available options are:

Daily Balance
Average (Daily) Balance
Lowest (Daily) Balance
Highest (Daily) Balance

ACH Tab:

Fields:	Description:
Automated Clearing House (ACH)	Check this box to active ACH payments.
Immediate Destination	Enter the routing number of the financial institution receiving the ACH file. (Maximum of 10 numeric characters)
Immediate Destination Name	Enter the name of the financial institution receiving the ACH file. This is an optional field used in the file header record. (Maximum of 23 characters)
Immediate Origin	Enter the routing number of the financial institution sending the ACH file. (Maximum of 10 numeric characters)
Immediate Origin Name	Enter the name of the financial institution sending the ACH file. This is an optional field used in the file header record. (Maximum of 23 characters)
Originating DFI Identification	Enter the routing number of the originating financial institution. (Maximum of 8 numeric characters)
Company Name	Enter the name of your company. This field is commonly used to further identify the source of the entry and for descriptive purposes for the receiver. (Maximum of 36 characters)
Company Identification	Enter up to ten digits to identify your company. This field is included in on all pre-notifications. (Maximum of 10 characters)

Check Electronic Payment Provider to fully automate the processing of ACH transactions and enable the processing of Credit Cards and Electronic Funds Transfers (EFT) during payment processing.

NOTE: To use this feature, you must first establish an account with a payment processor. For the most current list of strategic partners providing ACH services, please visit our web site at http://www.themortgageoffice.com or call your ABS sales representative at 800-833-3343.

Once the account has been established, the service provider will provide you with the information to enter below:

Fields:	Description:
Merchant Name	This field is provided by the electronic payment provider.
User Name	This field is provided by the electronic payment provider.
Password	This field is provided by the electronic payment provider.
Active Services	Check the services you have subscribed to. The options are: ACH EFT Credit Cards Debit Cards
Processing Fees	Enter any Processing fees, if any, you want to charge during payment processing for each service type. NOTE: Note: The processing fees entered here are in addition to the online payment convenience fees charged by the payment provider.
Proc. Fees Payee Account	If you selected to charge Processing fees, choose which account you'd like the fees to be credited to.

Attachments Tab:

This tab enables user to capture paper and electronic documents and store them in one location, and, most importantly, attach them to specific accounts for easy retrieval at any time. Read more here.

Reconciliations tab:

This tab lists any reconciliations for this trust account. You can delete reconciliations from this tab and also refresh the list of reconciliations.

Notes Tab:

The Notes tab allows user to record additional information about the account. The user can add free-form text and use the formatting options to change the presentation. Read more here.

Once all the details are filled in the tabs, click OK to save or Cancel to abort.