FICS Announces Successful Windows Conversion of Commercial Servicer Customers

- Flexibility increased while commercial mortgage loan servicing processes streamlined -

Orlando, Fla., Feb 4, 2002 - Financial Industry Computer Systems, Inc. (FICS), a mortgage technology specialist that provides in-house commercial servicing technology to the mortgage industry, announced today at the MBA Commercial Real Estate finance (CREF) Conference that it is concluding the successful DOS-to-Windows conversion of its full roster of Commercial Servicer customers. Commercial Servicer is FICS' in-house commercial mortgage loan servicing system.

Through the Windows conversion, FICS' Commercial Servicer clients now have complete control over their commercial loan data and management of the system as well as the ability to post payments in "real time", run reports on demand, provide immediate escrow analysis and quote payoffs on request.

Built from the "ground-up", the system's 32-bit client/server application supports ODBC (Open Database Connectivity) relational databases, providing lenders with quick access to mortgage loan data and the ability for that data to work with supporting applications with the touch of a mouse.

FICS began conversion of its DOS-based clients to Windows in Q1 2000 and anticipates full conversion of all Commercial Servicer clients to be complete in Q1 2002.

"Our goal with Commercial Servicer has always been to provide our customers with a cost-effective, flexible system that enables them to fully control their data with the ability to have that data work successfully with other applications," said Dawn Gibbs, president and CEO of FICS, Inc. "As a result, we have built on our nearly 20 years of experience and developed the most comprehensive ODBC database available to the industry."

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