Wescom Credit Union Implements FICS' Real Time Access
- Real-time mortgage loan data now more easily available to members -
DALLAS, May 3, 2004 - Financial Industry Computer Systems, Inc. (FICS), a mortgage technology specialist that provides in-house residential origination and servicing technology to the mortgage industry, announced today that Pasadena, Calif.-based, Wescom Credit Union ($2.6 billion) has successfully implemented FICS' Real Time Access (RTA), a real-time interface that provides borrowers with access to up-to-date information regarding their mortgage loans. Wescom Credit Union is currently the nation's 19th largest credit union with more than 215,000 members.
Wescom Credit Union has been an FICS customer since 1990 and currently utilizes FICS' Mortgage Servicer residential mortgage loan servicing system and Loan Producer residential mortgage loan origination system for mortgage and equity loans.
"The implementation of RTA, in conjunction with the use of both Mortgage Servicer and Loan Producer, enables us to enhance our level of service to our members with mortgage loans," said Tom Orman, vice president, Real Estate Lending for Wescom Credit Union. "Using mortgage processing and servicing technology from one provider enables our staff to process and service real estate loans more effectively through the built-in connectivity of the two systems. The flexibility of RTA and its integration into the EpiSys™ (Symitar) system allows our members to walk into any of our branches, conduct their mortgage transaction, and walk out with a receipt with up-to-date loan data."
RTA is a real-time interface that synchronizes mortgage information in a user's core database with that in the Mortgage Servicer database, thus allowing borrowers to instantly receive updated mortgage loan information from tellers or through audio response or home banking systems. RTA enables mortgage payments to be posted simultaneously on both the mortgage servicing system and the core credit union system, thus eliminating batch processing or the need for mortgage servicing staff to re-key mortgage loan data. It will also guarantee that loan data is up-to-date for customer service representatives when helping borrowers, regardless of the communication channel (in-person, telephone or Internet).
"Wescom Credit Union is a great example of an institution that utilizes all of the tools that we provide to enhance the overall service level to its membership and create enhanced efficiencies for its staff," said Dawn Gibbs, president and CEO of FICS. "RTA was designed in response to input from our customers, like Wescom Credit Union, in order to make them more successful in their operations through the use of innovative technology."
About Wescom Credit Union
Wescom Credit Union is a not-for-profit, financial services cooperative serving more than 215,000 members at 28 branches throughout Southern California. With assets totaling more than $2.6 billion, it is one of the largest credit unions in the country. Members have access to over 18,000 fee-free ATMs nationwide and a wide range of financial services. Membership is open to people living and working in Los Angeles, Orange, Riverside, San Bernardino and Ventura counties. Wescom was established in 1934 as credit union for telecommunications employees. More information about Wescom is available at 888-4WESCOM or http://wescom.org/.
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.
