Acqura Loan Services Implements FICS' Mortgage Servicer and Mortgage Accountant Packages
DALLAS, June 23, 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 the successful implementation of Mortgage Servicer and Mortgage Accountant, at Plano, Texas-based Acqura Loan Services.
Acqura, a unit of the Strategic Recovery Group LLC, is a special servicer. The company selected FICS to serve as the backbone of its servicing operation in order to efficiently service custom, non-performing residential mortgages. Acqura specializes in foreclosure prevention and typically services high-risk assets for hedge-funds and other buyers/owners of non and sub performing mortgages.
Because FICS' residential loan servicing and accounting solutions are designed to allow users to interface specialized applications and support systems directly with its solutions, Acqura is able to utilize its proprietary technology and unique risk assessment and management solutions in conjunction with FICS' solutions to efficiently run its business and provide the level of service that is required in today's growing market of loans in default.
“We are working with high risk borrowers and high risk assets and trying to prevent foreclosure where possible,” said David Vida, CEO of Strategic Recovery Group and Acqura. “We use a combination of FICS and in-house developed proprietary applications to help us successfully meet the market's growing demands."
"FICS has been able to provide Acqura with the solutions required to efficiently service their unique portfolio and help them with their foreclosure prevention strategies, which benefits both mortgage lenders and borrowers,” said Susan Graham, president of FICS. “There is a growing demand for specialized loan servicing in today's market, and providing a system that is able to help a company such as Acqura efficiently service its portfolio and be instrumental in foreclosure prevention efforts is a testament to the flexibility built into our solutions."
About Strategic Recovery Group LLC
Strategic Recovery Group LLC, Plano, Texas has three primary businesses: Acqura Loan Services, Strategic Recovery Group and Go Financial, a high tech, online specialty mortgage company. Acqura, launched in 2007, offers end-to-end customized loss mitigation services and special servicing. Additional information is available via www.acquraservicing.com and www.srg-i.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.