FICS' Credit, Flood and Mortgage Insurance Interfaces Earn MXCompliance Certification from MISMO
DALLAS, Dec. 10, 2008 - 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 its residential mortgage loan origination system, Loan Producer, has received MXCompliance Certifications from Mortgage Industry Standards Maintenance Organization, Inc. (MISMO) for its Credit Request v2.3.1 interface, Credit Response v2.3.1 interface, Flood Request v2.4 interface, Flood Response 2.4 interface, Mortgage Insurance Application Request v2.3.1 interface and Mortgage Insurance Application Response v2.3.1 interface.
As the premier standards development body for the real estate finance industry, MISMO coordinates the development and maintenance of Internet-based Extensible Markup Language (XML) real estate finance specifications to deliver a common format for the electronic transfer of mortgage industry data. The MISMO standard promotes consistency throughout the industry, reduces costs, augments transparency and heightens investor confidence in mortgages as an asset class.
The MISMO interfaces provide FICS customers with the ability to interface directly with any credit, flood and mortgage insurance vendor that conforms to the MISMO specifications without having to perform any customization. This enables FICS customers to operate more efficiently, improve accuracy, increase data transparency, and work faster and effectively to improve their bottom line.
"Providing our customers with access to interactive vendor neutral interfaces makes for more efficient and resourceful financial solutions," said Susan Graham, president of FICS. "Working to ensure our solutions comply with MISMO standards demonstrates how we continuously provide our customers with the solutions required to positively impact their business."
FICS' Loan Prospector Interface is also designed using MISMO specifications and seamlessly integrates with Freddie Mac's Loan Prospector. In addition, FICS has created interfaces using MISMO's closing transaction set, which are currently used by customers who utilize DocMagic and ProClose for their closing needs.
Established in 1999, the Mortgage Industry Standards Maintenance Organization (MISMO) is a not-for-profit subsidiary of the Mortgage Bankers Association whose mission is to develop, promote, and maintain voluntary electronic commerce standards for the mortgage industry. MISMO has working agreements with all the major data standards development organizations and has developed a language of industry data elements, stored in a common data dictionary used to create all MISMO transactions. For more information, please visit www.mismo.org.
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.