A Look Back at 2016
As 2016 comes to an end, we wanted to take a step back and reflect on all the updates, announcements, and conventions that shaped this year.
In January, FICS® headed to the Mortgage Bankers Association’s (MBA) Commercial Real Estate Finance/Multifamily Housing Convention & Expo in Orlando, Florida, to discuss how FICS’ Commercial Servicer® software suite can benefit operations that focus on commercial servicing. FICS president and chief operating officer, Susan Graham, wrote, “Balancing the Scales: Successfully Managing Payment Processing and Consumer Demands,” an article for Servicing Management magazine.
FICS’ chief technology officer, Aaron Lynch, wrote how automating processes makes a difference in February. Susan Graham was once again published, but this time in Mortgage Banking magazine. The topic of discussion was loan production shops getting into servicing.
The winners of HousingWire’s annual HW TECH100™ list were announced in March. FICS was named to the list for a third consecutive year.
Every April, FICS holds its annual users’ conference in Dallas, Texas. This year marked the 30th users’ conference, a major milestone for any company to achieve. FICS reflected on its beginnings and its loyal customers, some of whom have been with FICS since it first opened in 1983.
FICS reported on Fannie Mae’s forthcoming Future Changes to Investor Reporting in June, though FICS had been preparing for the changes since late 2015. Updates to the Mortgage Servicer® system were made to adapt to the changes. Anita Bush, assistant vice president of Mortgage Servicer product development, was Mortgage Orb’s Person of the Week. Bush discussed Fannie Mae’s new Investor Reporting requirements in the article.
In July, FICS received yet another honor – exemplary ratings in its compliance vulnerability assessment audit from IBM® Security Services for the 10th consecutive year. All FICS web products earned an overall “Low” rating in the application security assessment, indicating high levels of standards used to assess, manage and mitigate business risk.
New features to Loan Producer® version 7.80 were revealed in October. The most notable feature announced was ABE (Automated Business Engine). FICS also attended the 2016 MBA Annual Convention and Expo in Boston, Massachusetts.
After the lead up in October, Loan Producer, version 7.80 was officially released in November. Capsilon Corp. conducted a survey noting lenders are looking to automation to help with rising production costs.
It’s been a busy year full of exciting updates and innovations. FICS is looking forward to an even better 2017.