Payment Gone, LLC, creators of Khafre Back Office, announced Wednesday the launch of its commercial loan modification software module. The company says this marks the introduction of the first commercial mortgage mod software on the market.

The new module is designed to enable servicers to accurately capture and manage their clients’ portfolio of commercial properties and to quickly analyze clients’ complete financial picture in one place. This latest module builds on the Khafre Back Office platform, which already includes modules for residential loan modification, debt settlement, forensic audits, and credit repair.

According to the Lakewood, California-based company, Khafre’s commercial loan modification software delivers a complete loan mod solution for commercial properties — from data capture and qualification to file processing, document generation and submission.

“From the beginning, Khafre has been designed and built from the user’s perspective. This module exists because our clients asked us to build it,” said Adam Attanasio, president of Payment Gone. “We took our design queues from our clients, who told us what they needed to successfully manage and process commercial loan modifications.”

Attanasio explained that Khafre’s unique, multi-file system allows users to manage multiple submissions without re-entering data already captured such as debts, assets, expenses, occupancy status, rents, and taxes. The software’s file processing screens automatically calculate client incomes, property incomes, and rent-rolls, then uses the data to calculate combined mortgage balance, PITI, potential incomes, vacancy loss, and net operating income.

Khafre’s commercial loan modification module also features built-in document generation, saving users from the tedious task of copying data into forms for submission, thereby improving efficiency and reducing user error. In addition, Khafre’s compliance engine tracks every activity, email, note, alert, exhibit upload, and document generation with a time and date stamp.

Angela Dillon, operations manager of Sure Fire Loan Mods and a user of the Khafre system, commented, “We love the fact that Khafre Back Office includes MyKhafre for free, allowing our clients to access and update their financial profiles, read and respond to notes, upload exhibits, and check status. This makes for a truly collaborative experience for our processors and our clients and makes the entire process much easier.”

Payment Gone has engineered a suite of interrelated portals for the financial industry, which are designed to enable workflow networking – an approach that allows multiple users to work on a file throughout its entire workflow lifecycle.

The company says its Khafre system creates a seamless communication conduit between service providers, originators, and end-users and utilizes a universal and reusable data entry model that enables different agents and providers to share and repurpose client information, reduce user error, and increase oversight and data quality.