These days, mortgage lenders are looking for ways to automate servicing operations to cut costs, maintain profitability and effectively manage their compliance. FICS’ Mortgage Servicer provides clients with the software to accomplish these goals while simultaneously improving the borrower experience.
FICS’ Mortgage Servicer improves the user experience by building in more automation to increase efficiency and help servicers adopt a going-green effort appreciated by many consumers and users. While some of the automation is driven by regulatory changes to help servicers, FICS’ primary objective is to facilitate day-to-day operations and workflow.
Mortgage Servicer stands out for several reasons:
User friendly: According to one user, “It’s not complicated, there aren’t eight screens for one action. It’s the ease of use for both managerial and the end user.”
Comprehensive investor reporting: Mortgage Servicer supports agency investor reporting—including Fannie Mae, Freddie Mac, Ginnie Mae and Federal Home Loan Bank—and other industry-standard and private reporting methods. FICS has nearly four decades of experience with investor reporting to the GSEs.
Flexible forbearance functionality: Mortgage Servicer provides servicers flexibility with forbearance, deferment and post-forbearance plans as well as the ability to report the necessary information to investors. It also includes loss mitigation, modifications, short sales, and repayment tracking functionality.
Workflow management: A customizable dashboard tailored to each user’s job responsibilities helps users manage their workload. My Dashboard features interactive dashboards, data visualizations and charts that are easy to create and personalize. My Work List allows further customization within My Dashboard, providing an efficient option for users to complete each day’s to-do list.
Exceptional system support: When users call FICS, a receptionist directs them to the appropriate support person. They won’t lose valuable production time waiting for someone to return calls or answer emails.
Open database: Mortgage Servicer provides the freedom to extract all data for any reason.
Extraordinary value: Mortgage Servicer is a full servicing system, from loan boarding to payoff and secondary marketing. The license fee for Mortgage Servicer isn’t volume-based. Customers don’t pay per loan or by asset size, so organizations can grow without the fear that their growth may come at a high cost. The functionality and value of the system remain at a stable cost as they grow.
Time saving API: Used in conjunction with any third-party scheduling tool, the Mortgage Servicer API lets servicers schedule and automate virtually every program, report, and interface in the system, such as end-of-day and end-of-month reports, investor reporting and monthly loan statements. The API saves staff time and resources, eliminates after-hours and weekend work, and reduces mistakes caused by human error. One satisfied customer said, “By using the Mortgage Servicer API to process the end-of-day, it’s cut down from a process that usually took 1-1.5 hours to running in about 15-20 minutes.”
Security: Security levels can be controlled and customized by providing access rights as responsibilities dictate, and users can easily monitor access to the system via built-in security reports.
Cloud hosting: Mortgage Servicer provides the flexibility to choose an in-house or cloud-hosting solution. Either option is an open database with access to extract all the data.
Product Snapshot: FICS’ Mortgage Servicer software automates servicing operations, including payment processing, escrow administration, investor reporting, custodial accounting, imaging, report writing, workflow and more. Mortgage Servicer customers can also offer their borrowers and investors consumer-facing web applications, allowing online access to loan information and documents.