Commercial Servicer Logo

Commercial Servicer® is a user-friendly software solution that provides complete automation and seamless dataflow for commercial loan servicing for complex structured loans (e.g., commercial real estate, multi-family, construction and equipment).

 

Additional Functionality:

Commercial Servicer API
 
LoanStat
 
Commercial Accountant

Review the features below to learn how Commercial Servicer® can benefit your company. For more information about our commercial loan servicing software or to schedule a free demo, call 972.458.8583 or email info@FICS.com to request a brochure.

 

Loan Administration

Loan Administration

Commercial Servicer® offers a feature-rich platform that gives you the flexibility to efficiently service virtually any complex structured loan, including commercial real estate, multi-family, equipment and construction loans.

Borrowers, guarantors and principals. Commercial Servicer® gives you the ability to store and track unlimited borrowers per loan, keep track of each borrower’s financial information, and track guarantors and their financial information. Additionally, if a loan is lent to a partnership, you can track all the principals of that partnership. You can easily generate reports to evaluate exposure with individuals whether they are the borrower, guarantor, or a principal in a partnership.

Loan Flexibility

  • 30/360, 30/365(6), actual/360, actual/365, actual/365(6), simple interest, daily interest
  • Loan term vs. amortized term
  • Deferred interest
  • Default interest
  • Interest only
  • Scheduled principal payments
  • ARM’s
  • Unlimited borrowers and properties per loan
  • Loan modification tracking and history
  • Subordinate lien tracking
  • Multiple billing capabilities with separate billing addresses
  • Billing history
  • Automated lockbox posting
  • ACH drafting
  • Unlimited property types

Loan Types: Some of the loan types serviced in Commercial Servicer® are:

  • Commercial real estate
  • Income property
  • Multi-family
  • Business lines of credit
  • Equipment
  • Construction
  • Credit enhancements (bond loans)

 

Tracking

Collateral Tracking/Asset Management

Commercial Servicer® allows recording, tracking, and monitoring of the detailed information necessary for efficient asset management and collateral tracking. Unlimited collateral types and properties are easily stored within the system, and numerous built-in reports provide the guidance for superior asset management.

Unlimited Properties Per Loan

Detailed tracking available for each asset including:

  • Property condition, equipment, ratings
  • Appraisal information
  • Property managers and contract information
  • Flood information
  • UCC filing information
  • Leasing agents
  • Tenant information
  • Property inspection tracking with follow-up capability

 

Corporate Financial Statement Tracking

Commercial Servicer® makes corporate financial statement tracking easy. Numerous ticklers remind you when required statements are due. Some of the items tracked are:

  • Balance sheets
  • Income/expense statements
  • Rent roll
  • Letters of credit
  • Occupancy statements
  • Guarantor financials
  • Corporate contact information

Store electronic copies of all your external loan documents in Radstar® for easy retrieval.

Property Financial History. Each property type has its own financial template giving you the ability to easily input or import financial information into the system. The system will calculate important items, such as net operating income and debt service coverage ratios. Storing each period’s financial information gives you easy access to the data necessary to evaluate how the income property is performing.

Occupancy History. Store each period’s occupancy numbers to have quick access to the data and to assess property trends.


 

PaymentProcessing

Flexible Payment Processing

Commercial Servicer® makes payment processing fast, easy and accurate. System tools allow easy posting for many types of payments and fees.

Flexibility is critical for loan servicers when posting complex financial transactions. With that in mind, FICS® has created the most comprehensive set of tools allowing easy posting for many types of payments and fees. Commercial Servicer® has the solution to make payment processing fast, easy, and accurate. When posting payments to loans, payment processors can choose a variety of payment application methods. Real-time transaction processing features handle:

  • Payment and transaction reversals
  • Interest-only payments
  • Late charges
  • Default interest
  • Prepayment penalties
  • Partial payments
  • Adjustments
  • Unlimited user-defined fees
  • Reserves
  • Final payments
  • Advances
  • Balloon payments
  • Escrow payments and disbursements
  • Returned check charges
  • Principal curtailments and disbursements
  • Construction payments
  • Daily interest payments
  • Non-cash payments
  • Charge offs
  • Deferred interest
  • Bond fees
  • Unapplied or suspense funds

Batch Payments. The option to process multiple payments in a single-batch job makes payment posting extremely quick and easy. Your payments will be posted right away, so there is no waiting for any nightly processing.

Lockbox. The lockbox feature provides automatic payment posting from the file created by your lockbox vendor, following pre-established policies for exception handling.

ACH Electronic Payments. Commercial Servicer® initiates automatic payment withdrawal for borrowers by creating a draft file in the NACHA format. This file may be submitted directly to the Federal Reserve or through a correspondent bank.

History. All transactions are permanently stored in the Commercial Servicer® database as life-of-loan history. Finding previous transactions is simple with several convenient views available.

Cash Management Reports. Up to 28 daily cash accounting reports provide users and management with multiple cross views of activity posted each day and are used for easy transaction balancing.

Amortization of Deferred Items. Your accounting department will appreciate this convenient tool, which allows amortizing certain deferred items (e.g., discounts, premiums, fees) over the life of the loan or over a specified term. Track deferred income or loss using several different formulas including FASB 91.


 

Escrow Administration

Escrow Administration

Commercial Servicer® automates escrow administration, allowing you to set up escrow buckets, track insurance policies and track and pay tax bills.

Commercial Servicer® users experience the highest level of escrow administration automation found in any servicing system. Whether you fully escrow your loans paying all bills and premiums or simply track to make sure tax and insurance is properly paid on time, you’ll find a wealth of tools to assist you in all areas of escrow administration.

Escrow Buckets. Commercial Servicer® allows you to set up unlimited tax and insurance, reserves, and other user-defined escrow buckets. Each bucket has a detailed running history of funds moved into and out of it with a corresponding running balance.

Insurance. Commercial Servicer® keeps detailed information about your insurance policies. Users track and pay hazard, flood, key man, liability, earthquake, title, and environmental insurance policies, among others. In addition to the usual escrow information (payees, frequency, amount due, due dates), our system also stores detailed policy information (coverage requirements and amounts, deductibles, NAIC carrier, insurance company ratings, and much more). Task-tracking tools provide evidence of insurance, investor approval, and lender certifications. Forced place insurance and waivers are also tracked to make sure nothing is overlooked.

Taxes. Commercial Servicer® allows you to track and pay unlimited tax bills and keep detailed information on each bill. Odd due dates and unequal frequency due dates are easily accommodated. A hyperlink to your taxing authorities’ websites enables easy and convenient tax bill lookup.

Reserves. With Commercial Servicer®, you can create and track unlimited reserve buckets such as interest, sinking funds, operating reserves, leasing holdback, replacement, repair, and more.

Other Fees & Expenses. In addition to the traditional tax and insurance and reserve types of escrows, Commercial Servicer® users create buckets for legal fees, unpaid items, REO expenses, and more.

Disbursements. Escrow disbursements may be performed individually or in batches for scheduled tax and insurance payments. Day-end disbursement checks and check registers, along with multiple daily disbursement reports, make for easy disbursement account reconciliation.

Escrow Analysis. Let Commercial Servicer® simplify the confusing process of analyzing escrowed tax and insurance accounts. Our software has an easy to understand analysis for your borrowers. Analyze loans individually, on demand, or analyze them all very quickly with the batch analysis tool.

Interest on Escrow. Each individual escrow has its own parameters for calculating interest, giving you the option to pay interest only on the buckets you choose.

Escrow Reports. Tracking escrow is easy with a wide variety of flexible tax and insurance expiration reports, notices, detailed escrow activity and other tracking reports.


 

Reporting

Investor Reporting

Commercial Servicer® supports all agency investor reporting including Fannie Mae®, Freddie Mac®, Ginnie Mae® plus all other industry standard reporting methods for bank, life insurance, and private investors. The system automatically creates the investor accounting reports and interface files.

Agency Investors. Since its inception in 1983, Commercial Servicer® has supported Fannie Mae®, Freddie Mac®, and Ginnie Mae® multi-family loans. Continuous research of each agency’s requirements and further development support compliance. Commercial Servicer® offers agency interface files for easy upload into each agency’s electronic submission system, as well as investor reports.

Private Investors. Whether your loans are invested with life insurance companies, banks, credit unions, or other private investors, Commercial Servicer® has the accounting and reporting methods to handle them all. There’s no limit on the number of investors that can participate in a loan or a pool of loans; participant tracking and remitting are unlimited. Remit to your investors by check, ACH, or wire advice. Store your investor information including remittance schedules and other details, investor requirements, certifications, custodial accounts, wiring instructions, termination requirements, payoff information, and more. Keep detailed records of all investor remittances.

CMBS Investor Reporting. Commercial Servicer® generates standard CRE Finance Council® (formerly known as CMSA) reports and files for securitized loans.

Investor Custodial Accounts. Enjoy automated accounting for the transfer of funds between clearing accounts and investor custodial accounts using the optional Commercial Accountant® system. The advance/recovery of P&I and T&I are automated for easy funds movement.

Investor Online Access. Provide your investors with 24/7 online access to their reports and loans through the optional LoanStat® system. Request a LoanStat® flyer for details.

 

What Our Customers Are Saying About FICS' Investor Reporting

“FICS’ investor reporting functionality allows us to easily meet Fannie Mae®, Freddie Mac® and Ginnie Mae® reporting requirements. I can’t imagine doing my Ginnie Mae® reporting without FICS’ systems. FICS® stays on top of investor reporting requirements and implements changes in the system to insure their programs remain compliant. I don’t have to worry about it.”

Manager of Loan Administration for a Multi-Family Housing Lender,
FICS® Customer Since 2002

 

Flexible Payment Processing

Easy Year-End Reporting

On December 31st, simply run the year-end close and enjoy your New Year’s Eve! You can easily view your year-to-date data in a year-end inquiry window.

In January, 1098s and 1099s for borrowers or investors may be printed or the information forwarded to your print vendor for painless reporting. A simple electronic submission to the IRS completes the process.

Reporting Data Changes. The year-end corrections window allows changes to year-end information for the subsequent reprinting of corrected year-end statements. Correcting data for transmission to the IRS is also easy.


 

Collections

Collections and Default Management

Commercial Servicer's collections module helps collectors increase on time payment and reduce delinquencies. Multiple built in notices as well as collection queues enable your collectors to be very pro-active.

Collection Queues. Collectors can work from their own customized queues on a comprehensive collection screen. Everything the collector needs to know about the loan - including past and current amounts due, delinquency history, past conversations with the borrower and promises made - will be available on one detailed screen. Log conversations, add notes, generate custom documents such as promise to pay letters, and schedule the next follow-up action. Send results of the collection effort to others through the automatic notification feature.

Watch-List Tracking. Commercial Servicer® allows you to track events that occur through a watch-list tracking tool. When pre-defined criteria and thresholds are met, the loan falls onto the watch list for immediate notification.

Late Notices & Reports. Notices and reports assist with all your collection work. With numerous options for reminders, late notices, and several delinquent notices, inform your borrowers of their status. Several flexible delinquent reports assist management with evaluating loan statuses.

Late Fees/Default Interest. By employing user-defined late charge formulas and default interest plans, Commercial Servicer® automates the calculation and assessment of late fees and default interest.

Loan Stops. Unlimited loan stop and warning codes allow loans to be tagged for special processing.


 

Flexible Payment Processing

Additional Tools

  • Report Writer
  • Billing
  • Email Reports and Letters
  • Construction Loans

 

Report writer. Commercial Servicer® comes bundled with a wide array of standard reports and notices. You can also create custom reports using the comprehensive, widely used SAP® Crystal Reports® report writer. Output reports to a wide array of file formats, graphs or even HTML to attach to your website or intranet. SAP® BusinessObjects Business Intelligence (BI) Platform makes distribution of your generated reports a snap.

Billing. Whether you prefer amortized loan statements, billed interest statements or coupons, Commercial Servicer® offers you the billing method to match your organization’s approach. The flexible solution allows you to print bills in-house or outsource to a third-party print vendor. A billed interest history table keeps a convenient, permanent, electronic record of all amounts billed. Bills can be sent to borrowers or other destination of choice.

Email Reports and Letters. You can email reports, letters, and notices from Commercial Servicer®. Radstar® electronically stores all report and document output, so viewing, emailing, or posting them to an intranet is a breeze. Make borrower loan statements, escrow analysis, ARM analysis, payoff letters, and more available from your website through the optional LoanStat® module.

Construction Loans. Automate your construction loan processing and servicing in Commercial Servicer®. Set up construction budgets and templates with user-defined cost items for each property type. Process your budgetary disbursements and issue funds to the builder or contractor. Prepare detailed billed interest statements, which accurately calculate all interest amounts due. Bill your borrower for the interest due or make payments out of an interest reserve account.


 

Flexible Payment Processing

Innovative Features

  • My Work List
  • Radstar®
  • Customized correspondence
  • Memos
  • Report Bundles
  • Advanced Security Features
  • Interfaces
  • Import/Export Tools
  • Maintenance History
  • User-Defined Fields and Screens
  • User-Defined Help
  • Flexible Correspondence
  • Commercial Servicer® Administrator

My Work List. The My Work List feature makes navigating through daily to-do lists a cinch. My Work List allows users to query loans in Commercial Servicer® based on individually-selected criteria, open the resulting loans to perform a task, and then refresh the list to return only those loans that still meet the criteria. A customized data retrieval can be used on-demand or selected to automatically display after login. Users work more efficiently by focusing only on the loans necessary for the task at hand. My Work List is completely customizable for each user, making it more efficient to perform individual job functions.

Radstar® is an integrated document and report management system that saves time, space, and money by electronically imaging and storing all system-generated reports and documents. You can also store external documents, such as closing docs, appraisals, financial statements, inspection results, and tax and insurance bills, for easy and convenient retrieval. With a wide selection of search criteria, retrieval of your documents and statements is an easy task from within Mortgage Servicer®. You can easily access loan-level documents and notices that have been saved to Radstar®. Improve customer service by providing your borrowers online access to electronically stored documents and statements via LoanStat®.

Customized correspondence. Create customized letters and correspondence with the Wolters Kluwer I-32® Forms Design software integrated right into Commercial Servicer®. Creating customized borrower correspondence such as welcome letters, collection notices, promise-to-pay letters and servicing transfer letters is quick and easy.

Memos. Increase employee collaborations with the very powerful memo tool. Store reminders, collection notes, and conversation logs on the loan and memos to be sent to other users. A window will automatically appear on the designated date to remind you or another staff member of the event. There are multiple prompt options such as “at login,” loan level, timed intervals, and notification pop-up for new memos. Date and time stamps automatically update when creating or modifying a memo, and a resolution check box indicates if completed. Improve your workflow with the Commercial Servicer® memo tool and establish your own tickler file of pending events. You can also send borrowers messages for viewing in LoanStat®.

Report bundles. The FICS® Report Bundles feature helps you be more efficient. Simply group your desired reports into a named bundle and then select a specific bundle to print the associated reports.

Advanced security features. Customize the security administrator to match your organization’s needs. Security can be controlled at the group or user level for added flexibility. Limit users’ access to functions you select. Set up password constraints to match your company’s security policies. Several built-in security reports let you easily monitor users’ access to the system and retain a permanent audit trail.

Interfaces. Commercial Servicer® comes with a wide variety of built-in interfaces, with FICS® building new interfaces on a continuous basis. The system includes interfaces for coupon/statement print vendors, general ledger systems, taxing authorities, lockbox vendors, ACH, agency investors, bank and credit union core systems, report writers, forms design programs, IRS, and on and on.

Import/Export Tools. Commercial Servicer® comes with tools to empower you to import data from any comma delimited (text) or XML file. A user-defined mapping tool is included with the system, giving you the power to import data from outside sources without having to rely on your vendor to write a custom interface. Export data to an XML file to use the extracted data with another vendor or software.

Maintenance history. Maintain a permanent life-of-loan transaction history on every loan for your own internal review and for your regulators as well. Separate histories for payment, balance, disbursement, billing, escrow, investor, late charge, daily transaction, miscellaneous fee, year-end, and field changes make it easy and convenient to review loan activity. In addition, correspondence records are maintained for letters, notices, and analyses sent to your borrower.

User-Defined Fields and Screens. The Commercial Servicer® database comes loaded with thousands of pre-defined fields. Every lender is different and may require unique data to track. With that in mind, we developed tools to enable our customers to create unlimited user-defined fields and display them on customized screens. Additional miscellaneous fields created by users are also available to the report writer, customized documents, and correspondence.

User-Defined Help. Further customize your system with user-defined help available with just a touch of a button. Set up customized field entries for easy and consistent data entry.

Flexible Correspondence. Create customized, personalized customer correspondence to convey your unique message. Optional email messages that can be simultaneously sent to borrowers also allow for superior customer service.

Commercial Servicer® Administrator. Commercial Servicer® is unsurpassed in terms of depth of customization, offering a complete module dedicated to the administration and customization of the system. Let us show you the power of this extremely customizable system.


 

 

Commercial Servicer® Customer Testimonial
Hear what one of our customers have to say about the great features in Commercial Servicer®.

 

What Our Customers Are Saying About Commercial Servicer®

“Through the use of FICS’ technology, borrowers can view their commercial mortgage loan information via our website and access electronic copies of billing statements and year-end documents. We have redefined how our customers—both borrowers and investors—access information in a more efficient way using FICS’ innovative technology.”

Executive VP and Director of Servicing of a Mortgage Banking Firm,
FICS® Customer Since 1987

“We chose this system because of a number of referrals from colleagues. We saw that with FICS® we could consolidate a lot of information into one place to keep it, track it, analyze it and share it. The automated system allowed us the opportunity to continue growing our servicing portfolio.”

Executive VP of a Commercial Servicing Consortium,
FICS® Customer Since 2005

 

Commercial Servicer API

Commercial Servicer® API allows you to schedule and automate virtually every program, report and interface in the system, eliminating after-hours work and reducing errors.

Read More
LoanStat

LoanStat® is a mobile-responsive web application that allows borrowers and investors to view their commercial loan information (such as loan statements and payment history) online 24/7.

Read More
Commercial Accountant

Mortgage Accountant® provides automated accounting for the transfer of funds between clearing, custodial and company accounts as well as bank account reconciliations.

Read More
 

Ready To Schedule A FREE Demo?

Call or Email us today!

972.458.8583
info@FICS.com