RCH Capital Implements FICS' Commercial Servicer
SAN DIEGO, Feb. 9, 2009 - Financial Industry Computer Systems, Inc. (FICS), a mortgage technology specialist that provides in-house commercial servicing technology to the mortgage industry, announced at MBA's CREF/Multifamily Housing Convention & Expo 2009 the successful implementation of Commercial Servicer at Saint Petersburg, Fla.-based RCH Capital.
RCH Capital, who through its affiliated investment entities, acts as a principal in acquiring commercial mortgage loans, purchased FICS' commercial real estate loan servicing system, Commercial Servicer, in August 2008 to replace a proprietary loan servicing system. The existing system did not have the functionality RCH Capital required, making the company realize that in order for the organization to continue to successfully grow, it required a user friendly system that could efficiently handle its portfolio servicing needs and enable all users to easily access data within the system. RCH Capital selected FICS' Commercial Servicer based on the system's reliable reputation, as well as for the systems' flexibility and ability to generate interest accrual and custom reports, all enabling more efficient day-to-day portfolio management and operations.
"I, along with many of our servicers, have had previous experience working with FICS," said Joe Amoriello, CPA and controller at RCH Capital. "I knew the system would meet our requirements and serve as a reliable system that would enable our organization to work more efficiently. Our staff is very comfortable using the system and training for new users has been a very smooth process, because the system is easy to use, understand and navigate."
RCH Capital also utilizes Commercial Servicer's standard billing and payoff statements. "The billing and payoff statements included in the FICS system are easy for our customers to understand," said Amoriello. "With our previous system, many customers had difficulty deciphering the information included on the statements we sent out."
With Commercial Servicer in place, RCH Capital is able to efficiently help customers with questions concerning their accounts. "When our customers call with questions, we are now able to quickly answer their questions and have the confidence that the information we are giving them is correct," continued Amoriello.
"I have worked with FICS for many years and the system continues to exceed my expectations," said Amoriello. "I credit FICS with helping me learn the ins and outs of the commercial servicing world through the use of Commercial Servicer and consistently providing me with the information needed to efficiently work with my servicing staff. FICS has helped position RCH Capital to grow into a more proficient and competitive organization."
"FICS' solution gives RCH Capital the technology it needs to automate and streamline their commercial loan servicing processes which not only benefits its customers, but its employees as well," said Susan Graham, president of FICS. "Their use of the functionality rich Commercial Servicer software has increased internal efficiencies enabling them to provide a higher level of service to its customers, quickly retrieve accurate information and experience a competitive edge."
About RCH Capital, LLC
RCH Capital, LLC, through its affiliated investment entities, acts as a principal in acquiring commercial mortgage loans throughout the United States from banks and other institutional lenders. The company restructures and performs workouts on mortgage loans as required, and performs all loan servicing activities. For additional information about RCH Capital visit, www.rchcapital.com.
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.