Custom-fit servicing software

Facing growing borrower sophistication and increasing information demands from investors, many commercial servicers are turning to automation for solutions. With $270 million in outstandings and a 4-person shop, Thomas D. Wood, Jr., of Thomas D. Wood and Co. recently spent $15,000 laying cable and s...

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Bibliographic Details
Published in:Mortgage banking 1992-01, Vol.52 (4), p.40
Main Author: DeZube, Dona
Format: Magazinearticle
Language:English
Subjects:
Accounting
Automation
Characteristics
Commercial
Commercial credit
Commercial finance companies
Commercial loans
Commercial real estate loans
Construction loans
Evaluation
Financial software
Mainframes
Manycompanies
Manyproducts
Mortgage companies
Mortgage servicing
Portfolio management
Product/service Evaluations
Software
Software packages
Software upgrading
Technology application
Uniform Commercial Code-US
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Summary:Facing growing borrower sophistication and increasing information demands from investors, many commercial servicers are turning to automation for solutions. With $270 million in outstandings and a 4-person shop, Thomas D. Wood, Jr., of Thomas D. Wood and Co. recently spent $15,000 laying cable and setting up a network. Wood chose Synergy Software Inc.'s AMICUS to run on the new network because he knew and trusted servicers in the 3 shops where the system was tested. Wood also was influenced by the fact that AMICUS was designed by a mortgage banker. The software that David Watts of Household Commercial Financial Services Inc. uses has to manage his bank's own loans, as well as loans that are acquired from other systems. Using Precision Software Corp.'s Loan Administrator, Watts has been able to mirror the terms and parameters of Household's loan acquisitions. MNC Financial Inc. uses Shaw Systems Associates Inc.'s CL/2000 Commercial Loan and Collateral Accounting and Management Reporting System primarily for its accounting capabilities.
ISSN:0730-0212
1930-5087