FICS’ Commercial Servicer User Volume Increases 175 Percent
DALLAS, June 18, 2012 – The demand for comprehensive commercial real estate (CRE) servicing software has led to a 175 percent increase in Dallas-based Financial Industry Computer Systems, Inc.’s (FICS) Commercial Servicer user volume during the past nine months. FICS is a mortgage technology specialist that provides state-of-the-art commercial loan servicing software to the financial industry.
Users of Commercial Servicer cite the software’s powerful reporting features and ease-of-use as the keys to supporting additional growth. Commercial Servicer supports industry standard reporting methods and ensures compliance with federal agencies by generating specialized accounting reports and interface data files for Fannie Mae, Freddie Mac, Ginnie Mae and CRE Finance Council.
Brian Knibbs, vice president of Investor Reporting and Database Management for Needham, Mass.-based CWCapital LLC, said that the software is simple to navigate and reduces the time spent searching, locating and modifying loan information. CWCapital, a leading national lender to the multifamily and healthcare industries with a loan servicing portfolio of approximately $17 billion, has increased their usage of FICS’ Commercial Servicer 40 percent in the last six months to support the rapid growth of their portfolio.
“In addition to the functionality, Commercial Servicer is such an intuitive program it requires very little training time when adding new users,” Knibbs said. “We can quickly train new users, and FICS goes above and beyond in providing outstanding customer service year-in and year-out.”
Knibbs added that the system is also able to grow with the company by importing large volumes of new loans, as well as property level, asset management and insurance information, eliminating the need to worry about database space.
Jordan Mikula, vice president of Loan Administration for Getzville, N.Y.-based Largo Real Estate Advisors, also said customer service is a major factor in working with FICS.
“The customer service and support we receive from FICS has been outstanding,” Mikula said. “Every time we call, we are able to get a person on the phone, and they are readily available to spend whatever amount of time is needed to resolve any issues or answer questions. Commercial Servicer is everything we asked for, and the customer service has exceeded our expectations. No matter the question, FICS is prepared with a solution.”
Commercial Servicer automates the entire gamut of servicing commercial loans. The system’s many sophisticated automation features include detailed asset and financial tracking, comprehensive payment flexibility, complete escrow administration, detailed investor reporting and accounting, delinquency and collection management, customized document and report generation and more.
“Commercial real estate carries its own complex servicing challenges, and we designed Commercial Servicer to enable our users to manage the servicing process as simply as possible,” said Susan Graham, president and chief operating officer of FICS. “We’re excited to see so many of our customers, like CWCapital and Largo Real Estate Advisors, expanding their business in this economy and that FICS has been able to support their technology needs.”
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 to operate on Microsoft® Windows® platforms with the most recent solutions written 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.
