Highland Mortgage Co. Successfully Implements FICS' Commercial Servicer
- Windows®-based, commercial servicing system enables increased flexibility and functionality -
DALLAS, Texas, February 10, 2004 - Financial Industry Computer Systems, Inc. (FICS), a mortgage technology specialist that provides in-house commercial servicing technology to the mortgage industry, announced today the successful implementation of Commercial Servicer® at Ala.-based, Highland Mortgage Co., a top Federal Housing Administration (FHA) multi-family lender.
Highland Mortgage purchased FICS' multi-family and commercial loan servicing system, Commercial Servicer, to replace its existing commercial loan servicing system. The company successfully implemented Commercial Servicer in Jan. 01, 2004.
"It was very important to us that our servicing system provider be able to meet the unique needs of the FHA industry," said Robert Field, vice president at Highland Mortgage Co. "We felt FICS was committed to the FHA servicing niche, and they were able to offer us a comprehensive servicing package that was cost-effective, well-supported and user-friendly."
In addition to Commercial Servicer, Highland Mortgage also purchased FICS' Commercial Accountant and LoanStat. Commercial Accountant automates accounting capabilities such as daily cash book balancing and month-end reporting, including the distribution and movement of mortgage funds, P&I advances and recovery, bank account reconciliation, and ACH distribution. LoanStat enables borrowers to access commercial mortgage loan information including loan balances, current and previous YTD totals, 24-payment history, future escrow and interest rate changes.
"Highland Mortgage Co. had just undergone a transaction flow rewrite and needed a commercial servicing solution that could integrate easily into their new structure," said Dawn Gibbs, president and CEO of FICS. "FICS was able to streamline Highland's commercial mortgage process and meet their specific FHA needs."
About Highland Mortgage
Founded in 1979 and based in Birmingham, Ala., Highland Mortgage Corp. is consistently a top FHA multi-family lender. Highland Mortgage offers a variety of loan programs. For more information about Highland Mortgage visit the Web at www.highlandmortgage.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.
