FICS® Customers Increase Operational Efficiency, Automation Capabilities with Mortgage Servicer® API

DALLAS, Oct. 21, 2015 — Within today’s heavily regulated and time-sensitive servicing environment, automation is necessary to avoid costly mistakes and to help servicing and IT departments successfully manage bulk loan volumes. In order to assist financial institutions better manage their automated processes, Financial Industry Computer Systems, Inc. (FICS®), a provider of residential servicing software and commercial servicing software for the mortgage industry, released its Mortgage Servicer® API solution to enable customers to integrate Mortgage Servicer functionality into their custom automated or scheduled workflows.

Available through Mortgage Servicer, Mortgage Servicer API provides servicers a set of tools to create custom scripts for automating tasks, resulting in a reduction of human error and reduced time spent performing high-volume actions, such as running batch programs after hours or printing monthly statements. Ultimately, the Mortgage Servicer API is the answer for servicers seeking to create a specialized, streamlined mortgage servicing workflow. Servicers now have a method to insure all programs are executed and data is submitted to the numerous entities and investors that servicers must regularly report to throughout a given month in their workflow process.   

As an early adopter of the Mortgage Servicer API, Corning, N.Y.-based Corning Credit Union has experienced the benefit of the solution first hand. Having previously leveraged an automated solution for end-of-day processing that was notoriously unreliable, Corning Credit Union looked to FICS for assistance in better managing the process moving forward.

“We wanted a solution that would help us better automate end-of-day processing that was reliable, improved our workflow process, and was compatible with our current systems and newer software,” said Brennon Hicks, senior systems administratorat Corning Credit Union. “We’ve seen a huge improvement. Unlike our old automation software, the Mortgage Servicer API is dependable, resulting in a savings of at least two hours every week that our IT team doesn’t have to work after hours unexpectedly to manually resolve issues with the end-of-day process caused by the old automation software. This is a huge win for us.”

Through the tools provided by the Mortgage Servicer API, users can configure unattended execution of programs and reports, such as end-of-day programs, monthly investor reporting close outs, and customized modules that seamlessly interface with multiple core systems. This particular feature has significantly improved internal processes for Grand Rapids, Mich.-based Member First Mortgage, a Credit Union Service Organization (CUSO), from both a time and cost standpoint.

“As a CUSO, one of our biggest challenges is dealing with the multiple core systems used by the different institutions we work with,” said Michael McCrone, IT managerat Member First Mortgage. “With the Mortgage Servicer API, our IT department has the ability to operate within multiple core systems that utilize a number of different file formats for the extraction of payments by our clients, saving us a great deal of time and money.

“FICS’ API has allowed us to reduce our payment processing time by 80 percent as a result of the automation,” added Michele Mazurek, loan servicing manager at Member First Mortgage. “We have been able to eliminate overtime as staff no longer have to stay after hours, because the API will run all programs, as well as our end-of day reports.”  

FICS is pleased with the positive results and improved efficiency that its customers have experienced since using the Mortgage Servicer API. When developing the API, FICS focused on meeting the immediate needs its customers had: reducing mistakes resulting from tedious, manual processes and decreasing the amount of overtime needed to complete these necessary, routine processes. One of the project leads behind Mortgage Servicer API, Aaron Lynch, chief technology officer at FICS, said that the challenge has been addressing these common issues in a flexible and universal way that worked for all of FICS’ different customers.

“After taking into consideration our customers’ needs and the ever increasing trend towards automation, the problem was evaluated from the viewpoint of the technical staff and/or programmer tasked with automating Mortgage Servicer jobs. The end result was an open and extensible interface that can work with virtually any scheduling or automation system and meets all of the requirements to allow the scheduled, predictable execution of Mortgage Servicer programs,” Lynch said.

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.

Financial Industry Computer Systems