Case Studies

Flexibility And Adaptation Key To CWCapital's Long-Term Success With FICS®' Commercial Loan Software

FICS Customer since 1989

Servicing companies desire technology partners they can rely on year in and year out. Needham, Mass.-based CWCapital, a vertically integrated commercial real estate finance and investment company with a large loan portfolio of more than $11.4 billion, found a technology partner they've been able to rely on for 24 years and counting.

Looking for a Long-Term Partner

Servicing companies desire technology partners they can rely on year in and year out. Needham, Massachusetts-based CWCapital, a vertically integrated commercial real estate finance and investment company with a large loan portfolio of more than $11.4 billion, found a technology partner they’ve been able to rely on for 24 years and counting. CWCapital’s continually increasing loan volume and growing staff required the company to enlist a technology partner that was able to grow with them.

“CWCapital has relied on FICS® and its Commercial Servicer® software for commercial loan servicing since 1986,” said Brian Knibbs, Vice President of Investor Reporting and Database Management for CWCapital. “We currently service more than 1,200 commercial loans and FICS has remained flexible and adaptable to ensure they meet our needs year after year.”

In 1989 CWCapital implemented FICS’ commercial loan software, Commercial Servicer, which automates the servicing of all their commercial loans. The program’s many technology features include detailed asset and financial tracking, complete escrow administration, detailed investor reporting and accounting, delinquency and collection management, customized report generation and more

Key to Long-Term Success: Flexibility

Acknowledging FICS’ extensive knowledge and expertise, CWCapital especially values their partnership in a stressful industry environment and in the midst of constantly changing regulations. FICS promptly responds to regulatory changes, promptly updating the software and communicating new requirements to clients.

“For more than two decades FICS has demonstrated a commitment to continually updating and improving their systems—which has been the key to the longevity of our partnership,” said Knibbs. “They are quick to respond to market demands to meet customer needs and are never out of date.”

Knibbs said FICS’ annual Users’ Conference provides a worthwhile experience for CWCapital each year. The event unites FICS customers and regulators, presenting a unique opportunity for industry professionals to discuss ideas and present enhancement suggestions. Constantly working to improve the functionality of its programs to meet client needs, FICS hosts the conference each year as an open forum for shaping the future of the software. 

“I have attended the FICS annual Users’ Conference for 11 straight years—it is a great chance to converse with industry leaders and determine what works and what we will need in the future from FICS’ programs,” said Knibbs. “FICS truly values client input by considering enhancement proposals initiated at the event and adapting them accordingly, based on feedback from the user group discussions with the system’s designers.”

Key to Long-Term Success: Continually Enhanced Functionality

Over the last 27 years, FICS’ Commercial Servicer has evolved from a simple loan servicing software system to a very comprehensive set of functionality tools. Continuous development enables customers to gain efficiencies in their operations. FICS’ Commercial Servicer successfully provides CWCapital with an easy-to-use loan servicing solution, enabling the company to efficiently and easily train a large staff. FICS clients receive competent instruction and guidance to help employees quickly understand and operate the program. Commercial Servicer’s sophisticated technology proves simple to navigate and accelerates the process of searching, locating and modifying information.

“Commercial Servicer is such an intuitive program and requires very little training time—which is important with a staff of more than 50 servicers,” said Knibbs. “The system allows us to define parameters specific to our business, which you do not see with many other loan servicing programs, but is essential in order to operate effectively.”

Commercial Servicer supports industry standard reporting methods and ensures complete compliance with federal agencies by generating specialized accounting reports for Fannie Mae, Freddie Mac, Ginnie Mae and CRE Finance Council. 

“FICS is always ahead of the curve when it comes to regulatory enhancements and modifications for our agency business,” said Knibbs. “Ginnie Mae has been our core business—and, from what we’ve seen, nobody does Ginnie Mae reporting any better than FICS.”

Key to Long-Term Success: Customer Service

CWCapital values FICS’ longstanding dedication to excellent customer service, which the company has depended on over the past 24 years. In addition to offering technology crucial to CWCapital’s daily operations, FICS continually provides reliable, responsive customer assistance.

“FICS employees are extremely accessible—I can pick up the phone and talk to people who know my account and know my needs anytime I need to,” said Knibbs. “It is comforting to know someone will be there to work through issues over the phone and have any problem fixed right away.”

About CWCapital

A comprehensive real estate finance and investment management company, CW Financial Services (CWFS) is comprised of a vertically integrated family of companies - including CWCapital, CWCapital Investments and CWCapital Asset Management. CW employs approximately 350 professionals in 14 offices nationwide.

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 www.FICS.com.

 

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