FICS Announces Relationship with RealEC Technologies™
- Seamless data exchange between systems now enabled -
DALLAS Aug. 8, 2002 - Financial Industry Computer Systems, Inc. (FICS), a mortgage technology specialist that provides in-house origination and servicing technology to the mortgage industry, announced today the establishment of a relationship with RealEC Technologies™, the industry's leading secure B2B eCommerce exchange for real estate transactions. The relationship streamlines the origination process for RealEC clients that utilize FICS' loan origination system, Loan Producer.
Loan Producer users are now able to export a file, upload the input file, retrieve any completed or delivered products, and check the status of orders directly on the RealEC Web site. This eliminates the need for originators to re-key loan origination data between the two systems.
"Our relationship with FICS streamlines the origination process for RealEC clients who utilize Loan Producer," said Jeff Sanderson, president of RealEC Technologies. "The combined functionality supports RealEC's strategy to facilitate the origination, servicing, and closing of real estate transactions toward a truly paperless environment."
"Our company is committed to providing our customers with the necessary technological tools to help them increase productivity," said Dawn Gibbs, president and CEO, Financial Industry Computer Systems, Inc. "Our relationship with RealEC is a natural fit. This seamless data exchange will significantly improve processes and ultimately provide significant benefits to our companies' mutual client base."
RealEC is designed to facilitate the origination, servicing and closing of real estate transactions and to enable real estate practitioners to significantly enhance their businesses through core components including the RealEC Exchange. The RealEC Exchange is an intelligent routing process that offers traditional transaction capability and provides a standardized connectivity and data transport functionality for originators and vendors involved in the transaction. It handles data translation and facilitates rapid information flow while integrating seamlessly with vendors' production systems.
FICS' Loan Producer is a Windows®-based, 32-bit client/server loan origination system that handles all aspects of origination, processing, underwriting, closing and secondary marketing for mortgage loan originators. Loan Producer also features iNetAp, an optional suite of online mortgage origination tools, and Loan Originator, an optional add-on tool that enables laptop use of Loan Producer point-of-sale features.
About RealEC Technologies
Founded in 1998, RealEC Technologies provides an intelligent, electronic exchange for mortgage loan originators, realtors, and settlement service providers. The company's products are designed to facilitate the origination, servicing, statusing and closing of real estate transactions and enable real estate practitioners to significantly enhance their business by increasing operational efficiencies, improving customer service and generating new sources of revenue.
RealEC provides integration services, installation resources, sales management, and customer/help desk support designed to ensure successful implementation of this robust B2B exchange. Through one connection, the RealEC Exchange enables mortgage originator to conduct e-business with thousands of service providers while offering more direct connections to providers than another network in the industry. RealEC's iSelect™ intelligent ordering tool personalizes and automates the lender's choice of products and providers. RealEC Technologies is affiliated with a consortium of three companies: Fidelity National Information Solutions (NASDQ:FNIS), Stewart Title Company (NYSE:STC) and LandAmerica Financial Group (NYSE:LFG). Fidelity National Information Solutions is a subsidiary of Fidelity National Financial (NYSE:FNF). For more information call 949-622-3927 or visit: www.realec.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 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.
