TMCnet News
FICS Reports Increase in User VolumeJun 21, 2012 (Close-Up Media via COMTEX) -- The demand for commercial real estate servicing software has led to a 175 percent increase in Dallas-based Financial Industry Computer Systems, Inc.'s Commercial Servicer user volume during the past nine months. FICS is a mortgage technology specialist that provides commercial loan servicing software to the financial industry. In a release on June 18, the group noted: Users of Commercial Servicer cite the software's reporting features and ease-of-use as the keys to supporting additional growth. Commercial Servicer supports industry standard reporting methods and ensures compliance with federal agencies by generating specialized accounting reports and interface data files for Fannie Mae, Freddie Mac, Ginnie Mae and CRE Finance Council. Brian Knibbs, vice president of Investor Reporting and Database Management for Needham, Mass.-based CWCapital, said that the software is simple to navigate and reduces the time spent searching, locating and modifying loan information. CWCapital, a national lender to the multifamily and healthcare industries with a loan servicing portfolio of approximately $17 billion, has increased their usage of FICS' Commercial Servicer 40 percent in the last six months to support the rapid growth of their portfolio. "In addition to the functionality, Commercial Servicer is such an friendly program it requires very little training time when adding new users," Knibbs said. "We can quickly train new users, and FICS goes above and beyond in providing outstanding customer service year-in and year-out." Knibbs added that the system is also able to grow with the company by importing large volumes of new loans, as well as property level, asset management and insurance information, eliminating the need to worry about database space. The system's many automation features include detailed asset and financial tracking, payment flexibility, complete escrow administration, detailed investor reporting and accounting, delinquency and collection management, customized document and report generation and more. "Commercial real estate carries its own complex servicing challenges, and we designed Commercial Servicer to enable our users to manage the servicing process as simply as possible," said Susan Graham, president and chief operating officer of FICS. "We're excited to see so many of our customers, like CWCapital and Largo Real Estate Advisors, expanding their business in this economy and that FICS has been able to support their technology needs." More information: www.FICS.com ((Comments on this story may be sent to [email protected])) |