FICS’ Loan Producer Interfaces with Triad Guaranty Insurance Corporation
- Mortgage Insurance interface enables lenders to easily submit data and receive insurance commitments -
DALLAS, March 17, 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 that Winston-Salem, N.C.-based Triad Guaranty Insurance Corporation, a subsidiary of Triad Guaranty Inc. (NASDAQ: TGIC), is utilizing its Mortgage Insurance (MI) interface.
The MI interface enables users of FICS’ residential mortgage loan origination system, Loan Producer, to quickly and easily send MI applications directly to Triad Guaranty Insurance Corporation. Triad Guaranty can then automatically process the request and send status updates along with the commitment and certificate of insurance directly back to Loan Producer. This process results in a seamless mortgage insurance ordering process that enhances the overall efficiency for lenders.
“In today’s mortgage environment, it is important for financial institutions to have reliable systems in place for easy communication with third party vendors,” said Dawn Gibbs, president & CEO of FICS. “Working with Triad Guaranty, we are able to provide our customers with the technology solutions they need to compete and succeed in this challenging mortgage industry.”
“We appreciate the opportunity to work with FICS on this solution”, stated George Jackson, vice president Information Services of Triad Guaranty Insurance Corporation. “It’s a win-win solution for all and measurably enhances the mortgage insurance ordering process.”
About Triad Guaranty Insurance Corporation
Triad Guaranty Inc.'s wholly owned subsidiary, Triad Guaranty Insurance Corporation, is a nationwide mortgage insurer providing credit enhancement solutions to its lender customers and the capital markets. This allows buyers to achieve homeownership sooner, facilitates the sale of mortgage loans in the secondary market and protects lenders from credit default-related expenses. For more information, please visit the company's web site at www.triadguaranty.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.