Payout statements the lawyer can trust — and lenders repaid exactly.
When a borrower sells or refinances, their lawyer needs one number. Amortivo builds the payout statement from the loan's ledger, issues versions as payments clear, and on receipt repays each lender and closes the loan.
Step by step
- Request receivedFrom the borrower's lawyer, the borrower, a new lender or the portal.
- Statement preparedPrincipal, accrued interest, arrears, fees and any penalty to the good-until date.
- Sent to the lawyerPDF with the per diem after the good-until date; new versions issued if a payment clears.
- Funds receivedRecord the payout; lenders are repaid their principal and interest and the loan is discharged.
What changes
- One correct figure for the lawyer
- Lenders repaid without a spreadsheet
- A clean, documented discharge
Used by
- Servicing staff
- Mortgage administrators
Capabilities
Accurate accrual
Accrued interest calculated once for the period, split at any rate change.
Penalty rules
Open, closed or three months' interest according to the loan's terms.
Statement versions
Every version kept, with what changed.
Lender split
Each lender's principal and interest at their rate; spread and fees to the company.
Partial and collateral releases
Paydowns and release of a collateral property.
Unsent PAD clean-up
Scheduled debits after payout are removed automatically.
Questions about payouts & discharges
How is the per diem shown?
The statement shows the daily interest to add for each day the payout arrives after the good-until date.
Works together with
The loan file
One page per loan: balance, next payment, arrears, terms, fees, borrowers, properties, lenders, documents, renewals and a full status history.
Learn more →Investor distributions
Pay each investor their share of interest collected at their own rate, hold shares on unpaid loans, apply management and referral fees and pay by EFT or cheque.
Learn more →Trust ledger
A trust ledger posted automatically from payments, advances and distributions, with sub-ledgers for each lender, the company, borrower reserves and holdbacks.
Learn more →See your loan book in Amortivo.
A 30-minute walkthrough with your own scenarios — origination to investor payout.