Four of Top Ten FHA Multi-Family Lenders Now Utilizing FICS Technology

- FICS' Commercial Servicer proves efficient and reliable for leading multifamily lenders -

DALLAS, May 15, 2003 - Financial Industry Computer Systems, Inc. (FICS), a mortgage technology specialist that provides in-house commercial servicing technology to the mortgage industry, announced today that four of the "Top FHA multifamily lenders, fiscal year 2002" as cited in the March/April 2003 issue of Apartment Finance Today are currently utilizing FICS' in-house commercial mortgage loan servicing system, Commercial Servicer. The four lenders are CWCapital, Inc. (Needham, Mass.), Highland Mortgage Co. (Birmingham, Ala.), P/R Mortgage & Investment Corp. (Carmel, Ind.) and Prudential Asset Resources, the servicing business of Prudential Mortgage Capital Co. (Newark, N.J.).

"Using FICS' Commercial Servicer has made a significant difference in our servicing capabilities," said Brian Knibbs, assistant vice president, Investor Reporting/Database Management of CWCapital, Inc. "With FICS, we have a very easy, straightforward, user-friendly system along with the opportunity to work with a group of people who readily accept our insight, advice and thoughts on how the system could continue to improve within the industry. They have proven to be both reliable and efficient and that makes an impact on how our business operates."

"Having four of our lender customers in the top ten quantifiably illustrates our commitment to provide our users with the technological tools that they require to succeed in today's environment," said Dawn Gibbs, president and CEO of FICS. "Their success is heavily impacted by their business decisions and is also, in -part, a reflection on our continued commitment to provide them with the finest service, training, and support available."

FICS' Commercial Servicer provides users with complete control over their commercial loan data and management of the system as well as the ability to post payments in "real time", run reports on demand, provide immediate escrow analysis and quote payoffs on request. Built from the "ground-up", the system's 32-bit client/server application supports ODBC (Open Database Connectivity) relational databases, providing lenders with quick access to mortgage loan data and the ability for that data to work with supporting applications with the touch of a mouse.

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 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

Financial Industry Computer Systems