Paul Milburn Acreages Turns to FICS for Mortgage Servicing Solutions

DALLAS, Aug. 11, 2009 – Financial Industry Computer Systems, Inc. (FICS), a mortgage technology specialist that provides in-house residential origination and servicing technology and commercial servicing technology to the mortgage industry, announced that Shawnee, Okla.-based Paul Milburn Acreages is successfully utilizing its residential mortgage servicing system, Mortgage Servicer, its automated custodial account solution, Mortgage Accountant, and RADSTAR, an integrated document management system that automatically images and electronically saves reports and documents.

Paul Milburn Acreages, who specializes in lots for manufactured homes or building sites, began implementing FICS’ solutions in April to replace an existing system that operated using outdated technology and did not provide an automated way to service the organization’s portfolio. The organization was also not able to easily retrieve data from the system, which resulted in employees spending excess time retrieving information and not providing quick or efficient customer service.

“We began our search for a new servicing solution because the system we had in place to service loans was not designed specifically to be an automated servicing solution,” said Michele Shipp, Comptroller at Paul Milburn Acreages. “We wanted to transition into a system that would be more effective for what we were doing. We quickly discovered FICS and realized its servicing solution was able to meet all the criteria we had set for a new system. We chose to implement FICS’ solutions because of its ability to easily automate and streamline crucial functions, such as tracking Escrow. “

Servicing loans for lots for manufactured homes or building sites gave Paul Milburn Acreages specific needs that FICS needed to address. “We had unique requirements and needs in a servicing system, and FICS worked with us to solve our particular issues,” Shipp said.

Paul Milburn Acreages is also utilizing RADSTAR, a Report And Document Storage And Retrieval system, which provides the organization with the tools necessary to easily electronically store and retrieve reports and move towards a paperless mortgage operation. The Mortgage Accountant solution provides Paul Milburn Acreages the means to automate the movement of funds between accounts by assigning specific accounts to various criteria. The reports generated from this solution are also stored in RADSTAR.

Since going live on the system, overall efficiency has increased in the organization. Because processes are automated, employees are able to focus more of their attention on additional revenue generating initiatives. According to Paul Milburn Acreages executives, with FICS solutions in place, the organization is able to easily access reports and generate letters and statements.

“FICS has been able to help Paul Milburn Acreages automate and streamline its mortgage loan servicing processes, which benefits both its employees and customers,” said Susan Graham, president of FICS. “Reducing manual procedures, along with providing an electronic report and document storage and retrieval system, enables the organization to redirect available resources to better increase internal efficiency and serve its customers.” 

About Paul Milburn Acreages

Paul Milburn Acreages, based in Shawnee, Okla., has been in business for more than 35 years. The organization specializes in lots for manufactured homes or building sites with locations near Harrah, Newalla, East of Choctaw, Luther, Wellston, Prague, Seminole, Maud, Pink, Bethel, Carney, Stroud, Meeker Chandler, Macomb, Shawnee, Tecumseh, McLoud, and East and Southwest of Norman. Paul Milburn Acreages also provides financing for all its property.  For more information, please visit organization’s Web site at http://paulmilburnacreages.com/

About FICS

Founded in 1983 and headquartered in Dallas, Texas, Financial Industry Computer Systems, Inc. (FICS), specializes in providing flexible, comprehensive residential and commercial technology solutions to the mortgage industry. FICS' systems are designed for Microsoft® Windows® with the most recent solutions using .NET framework that include a rich Windows® Presentation Foundation user interface and multi-tiered shareable services. The company also provides innovative document management and web-based capabilities into its full suite of products. Additional information about FICS is available via the company's website at www.FICS.com.

Financial Industry Computer Systems