Market Street Mortgage Successfully Implements FICS' Mortgage Servicer
- Windows®-based, residential servicing system enables increased flexibility and functionality -
DALLAS Sept. 5, 2002 - Financial Industry Computer Systems, Inc. (FICS), a mortgage technology specialist that provides in-house LOS and servicing technology to the mortgage industry, announced today that Clearwater, Fla.-based, Market Street Mortgage, one of the nation's top producers of residential mortgages, has successfully implemented FICS' residential mortgage loan servicing system, Mortgage Servicer, along with add-on products, Mortgage Accountant and eStatus.
Market Street Mortgage purchased the FICS system in January 2002 to replace its existing residential mortgage loan servicing system and went live with Mortgage Servicer in June 2002.
"Mortgage Servicer's flexibility, ease-of-use and functionality offered a winning alternative to our previous system," said Nancy Jones, senior vice president of Market Street Mortgage. "The new, Windows®-based system is currently servicing our ten thousand residential loans."
In addition to Mortgage Servicer, Market Street Mortgage has also purchased and implemented FICS' Mortgage Accountant and eStatus. Mortgage Accountant automates accounting capabilities including daily cash book balancing and month-end reporting, showing the distribution and movement of mortgage funds, bank account histories and reconciliation, trial balances, general ledger, P&I advances and recovery and ACH distribution. eStatus enables borrowers to access their mortgage loan information online, which provides improved customer service and reduces customer call volume for servicing companies.
"Our technology is built to give companies like Market Street Mortgage a user-friendly tool to enhance their current business while also providing flexibility to meet the changing needs of the company," said Dawn Gibbs, president and CEO of FICS. "With the combination of Mortgage Servicer, Mortgage Accountant and eStatus, Market Street Mortgage has established a foundation on which to provide their internal staff with the tools to best service the residential loans of their customers."
About Market Street Mortgage
Market Street Mortgage, headquartered in Clearwater, Florida, is one of the nation's leading exclusively retail mortgage banking firms. The company maintains 42 branch offices in 11 states. Market Street Mortgage is approved by FNMA, FHLMC, GNMA, HUD, VA and other investors as a stand-alone corporation. For more information visit the company's Web site at www.marketstreetmortgage.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.
