LNR Property Corporation Purchases FICS' Commercial Servicer and Commercial Accountant
- Technology provides cost-effective tool for streamlining servicing processes -
DALLAS June 20, 2002 - Financial Industry Computer Systems, Inc. (FICS), a mortgage technology specialist that provides in-house commercial servicing technology to the mortgage industry, announced today that Miami, Fla.-based, LNR Property Corp. (NYSE: LNR), one of the nation's leading real estate investment, finance and management companies, has purchased FICS' in-house commercial mortgage loan servicing system, Commercial Servicer and add-on, Commercial Accountant.
Commercial Servicer enables users to control commercial loan data and management of the system as well as the ability to post payments in real-time, run reports on demand, provide immediate escrow analysis and quote payoffs on request. Built from the "ground-up", the system's 32-bit client/server application provides ODBC (Open Database Connectivity) relational databases, providing lenders with quick access to mortgage loan data and the ability for that data to work with supporting applications with the touch of a mouse.
Commercial Accountant is an add-on to Commercial Servicer that enables automated accounting capabilities including: daily cash book balancing, bank reconciliation, account histories, trial balances, general ledger, ACH distribution and P&I advances and recovery.
"Our technology is built to provide companies like LNR with a user-friendly, customizable tool to enhance their current business, while providing the flexibility to meet additional needs as the company grows," said Dawn Gibbs, president and CEO of Financial Industry Computer Systems, Inc.
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.
