Case Studies

Members Choice Credit Union Improves Loan Servicing, Simplifies Member Services with FICS® Software

FICS® Customer since 2012

Based on previous experience with FICS’ residential loan servicing software, Roof selected Financial Industry Computer Systems, Inc. (FICS) to equip the budding servicing department with the tools to provide the optimal level of service and support.

The Challenge: Building a Servicing Department from the Ground Up

Members Choice Credit Union provides a full spectrum of financial services to more than 40,000 members and local businesses in the Houston, Texas area.  Having previously relied on a sub-servicer to manage a portion of its growing mortgage portfolio, the Houston-based credit union became interested in bringing servicing in-house to minimize costs and maximize member service.

In an effort to facilitate this change before the portfolio became too large to easily move, Members Choice began seeking a mortgage software provider that could simplify the data transition process and help the institution’s new servicing division launch quickly.  While a high level of flexibility and support was vital, Members Choice knew they needed to leverage solutions that would also allow employees to enhance operational efficiency.

“We saw our loan portfolio continue to grow with each passing month, and decided that it would be more efficient to bring servicing in-house,” said Nirvana Roof, mortgage operations manager for Members Choice.  “We wanted to work with a technology provider that would not only make the process as smooth as possible, but one that could also provide the servicing solutions necessary to successfully meet our members’ expectations.”

Members Choice Selects FICS to Mirror Previous Success

Based on previous experience with FICS’ residential loan servicing software, Roof selected Financial Industry Computer Systems, Inc. (FICS) to equip the budding servicing department with the tools to provide the optimal level of service and support.  “I’ve worked with FICS multiple times throughout my career, and knew that their combination of solutions and customer support were a perfect fit for our institution’s vision moving forward,” said Roof.  “Additionally, I was confident that FICS would be able to help us easily transition the data from our sub-servicer to in-house.  It was imperative that we avoid system communication issues during the implementation process that may cause us to lose valuable data.”

Members Choice began using several of FICS’ signature technology products, including Mortgage Servicer®, Mortgage Accountant®, eStatus Connect® and Radstar®, in 2012. Combined, the user-friendly software solutions allowed Members Choice to implement automated processes instead of traditionally manual processes.  This allowed for a more seamless automation and greater access to current loan data for both lenders and borrowers.

Growing Business in More Ways than One

Since implementing the FICS platforms, Members Choice has observed a noticeable difference in time management with regard to fulfilling member needs, enabling servicers to process loans faster and cut previous servicing costs from the subservicing of their loans.

“Our employees have been thoroughly impressed with how easy each FICS system is to use.  From day one, they have been able to successfully manage the monthly growth of our servicing portfolio without missing a beat,” said Roof.

The company also cites FICS’ unmatched customer support as a key factor in their successful implementation of four new solutions at once.  “I knew we were going to need a great deal of help to get up-to-speed on each of these new solutions, and to get answers to the hundreds of questions we would have during implementation and bringing the servicing in-house,” stated Roof.  “The FICS team has consistently gone above and beyond to help us in any way possible.  They are without a doubt one of the most fantastic tools available to us, and continue to play a huge part in the success of our servicing department.”

In addition, Members Choice notes the launch of their new servicing department as an opportunity to revitalize a once traditional structure.  “While FICS has absolutely benefitted Members Choice by allowing us to grow our business without incurring increased service costs, implementing these solutions has also increased our use of technology and positioned us as a leader within the credit union space,” said Roof.  “Since launching our servicing department, we’ve been approached by several smaller institutions looking to do the same thing, and are using our experience with FICS as a roadmap to help them attain the same level of success.”

About Members Choice Credit Union

Members Choice Credit Union is a not-for-profit financial institution established in 1941, and proudly serves residents and business owners in West Harris County, Katy, Cy-Fair, and nearly 200 employee groups.  Members Choice has over 40,000 members and $468 million in assets.  For more information, visit www.mccu.com.

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.

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