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Carolina Consortium Is Using FICS.(Financial Industry Computer Systems)
San Diego -- Financial Industry Computer Systems, a mortgage technology specialist that provides in-house commercial servicing technology to the mortgage industry, launched at the MBA technology conference here the implementation of its software at Community Investment Corp. of North Carolina.
CICNC is an affordable housing loan consortium whose sole purpose is to provide long-term, permanent financing for the development of low- to moderate-income multifamily and elderly housing.
CICNC, a division of the North Carolina Bankers Association, purchased the FICS commercial real estate loan servicing system, Commercial Servicer, in December 2005 to replace its existing 10-year-old proprietary loan servicing system.
Because the existing system was not flexible in nature and did not provide technical support, CICNC realized that in order for the consortium to continue to successfully grow, it required a system that could handle the increased portfolio servicing needs, as well as a software provider that could provide the technical assistance and support the company required.
CICNC selected the FICS Commercial Servicer for the systems' flexibility, the ability to consolidate and track data and generate reports, and the technical assistance offered by the FICS customer service team, all enabling more efficient day-to-day portfolio management, according to an FICS news release.
"When selecting a new loan servicing system, we ...
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