Truliant Federal Credit Union Turns to FICS for Mortgage Origination Software
DALLAS, Feb. 17, 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 Winston-Salem, NC - based Truliant Federal Credit Union has purchased its residential loan origination system, Loan Producer. Truliant FCU, one of the largest credit unions in North Carolina, selected FICS' solution to replace an existing mortgage loan origination system.
"As our search for a new loan origination system began, we quickly learned that FICS was the only provider that offered both an origination and servicing system, which is important to us for future growth as we plan to implement the servicing solution later this year," said Vicky Slate, real estate lending manager for Truliant Federal Credit Union. "While doing our due diligence we spoke to several other credit unions that have been using the FICS systems for some time. They validated what we were hearing from FICS and spoke highly of the customer support and system flexibility FICS offers."
Truliant realized that in order to continue to successfully maintain and grow its mortgage department, it required a system that could handle a growing portfolio of mortgage loans, integrate technologies, streamline workflow processes and offer enhanced functionality to its users in all member financial centers, and ultimately provide increased member service.
"We have 25 member financial centers in four states but all our mortgage processing is done in one centralized location," continued Slate. "Our member financial centers originate mortgage loan applications online, however the application is then sent to our centralized mortgage processing center. With our previous system, once the application went into processing, the Member Financial Center was not able to view the status of the loan and was therefore unable to answer member questions related to that loan. With the FICS Loan Producer system, we will be able to implement a view only mode so they can see the loan, allowing them to answer member questions in real time and provide better member service."
"FICS is excited to be Truliant Federal Credit Union's mortgage software vendor of choice," said Susan Graham, president of FICS. "The FICS solution will allow Truliant to automate and streamline its mortgage operations benefiting both its employees and members. Reducing manual procedures will enable the credit union to redirect available resources to better increase overall internal efficiency and better serve its members."
The credit union has plans to implement FICS' residential loan servicing system Mortgage Servicer as well as eStatus, an online mortgage information tool for borrowers later in the year. Both the Loan Producer and Mortgage Servicer systems include Radstar, a Report And Document Storage And Retrieval system, which gives Truliant the tools necessary to move towards a paperless mortgage operation.
About Truliant Federal Credit Union
Truliant Federal Credit Union is a not-for-profit, financial institution that provides affordable financial services to its member-owners. Truliant was chartered in 1952 and now serves more than 180,000 members and has 25 Member Financial Centers in North Carolina, South Carolina, Ohio and Virginia and more than $1billion in assets. For more information on Truliant Federal Credit Union, visit www.TruliantFCU.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.