Midland Rolls Out CRE Technology to Large Clients.(Midland Loan Services)

Early this year, Midland Loan Services here started rolling out its Enterprise! loan management system to external clients after converting its own $90 billion commercial real estate mortgage portfolio to the system.

Stacey Berger, executive vice president at Midland, recently told MSN that Midland's conversion of its own portfolio involved converting 70 million data elements onto the new system over the course of one weekend. Enterprise! is the evolution developed from Midland's earlier acquisition of the Univest servicing system.

Currently, Mr. Berger said one of the nation's leading banks in the commercial real estate business has signed a contract to use the system, and that conversion is expected to happen toward the end of the year. In addition, the company is negotiating with one of the largest life insurance companies that is likely to convert to it as well.

"We've been intentionally moving slowly to make sure the system and the processes around it work in very large-scale organizations," Mr. Berger said.

Midland believes that its system allows clients to streamline their servicing operations and better manage their portfolios. The company describes its service as "the first Web-based technology platform developed specifically to manage the entire commercial mortgage lifecycle, including loan origination, securitization, servicing and portfolio management." Midland says that Enterprise! can support complex deal and ownership structures.

Midland made a name for itself in the commercial mortgage-backed securities field, and it remains one of the largest CMBS loan servicers.

After these "strategic users" implement the platform, Midland plans to expand its ...