CHICAGO--(Business Wire)--
Financial Industry Computer Systems, Inc. (FICS(R)), a mortgage
technology specialist that provides in-house residential origination
and servicing technology and commercial servicing technology to the
mortgage industry, announced at MBA's Commercial/Multifamily
Servicing and Technology Conference that Minneapolis-based NorthMarq
Capital, Inc. (NorthMarq) is successfully utilizing its commercial
mortgage loan servicing system, Commercial Servicer(R), its electronic
imaging and document management system, Radstar and its consumer based
web application system, LoanStat(R) to eliminate paper-based monthly
statements to its borrowers.
Commercial Servicer enables NorthMarq to electronically notify
borrowers that their monthly statements are available to view and
download in the LoanStat system. Providing borrowers with the ability
to access their loan data online and receive electronic copies of
items including amortization schedules, escrow analysis, billing
statements, escrow activity report, loan activity report and year-end
statements, provides significant savings in terms of time and money
for both lenders and borrowers.
NorthMarq, one of the largest, national, privately-held commercial
real estate investment banking firms, currently services more than $36
billion in loans. Providing borrowers the ability to electronically
access information reduces the need for NorthMarq's staff to manually
print, fold and distribute hard copies of these statements. This
capability provides more convenience for NorthMarq's borrowers while
also saving the company significant amounts of time and money
associated with the traditional, paper-based delivery system.
"FICS provides NorthMarq with a competitive advantage that fully
meets the growing technology needs of our borrowers," said Karen
Pribnow, executive vice president and director of Servicing for
NorthMarq. "With low initial investment and minimal maintenance, we
are able to provide our borrowers with a means to access their
accounts at their convenience. Since implementing the technology, we
have experienced reduced call volumes, a result of offering more
efficient service to our borrowers."
"NorthMarq's successful addition of LoanStat to their technology
platform represents an excellent example of how the evolution of FICS'
products continues to add significant value to a lender's loan
servicing solution," said Susan Graham, president of FICS.
"NorthMarq's decision to provide borrower statements online is
indicative of their long term commitment to reduce the amount of paper
utilized in their work environment."
About NorthMarq
NorthMarq Capital, Inc., is a national real estate investment
banker headquartered in Minneapolis with 28 regional offices
coast-to-coast, providing commercial real estate debt and equity
financing and commercial loan servicing. NorthMarq Capital provides
more than $13 billion in annual production volume and services a loan
portfolio of more than $36 billion. NorthMarq also has divisions that
provide real estate services such as brokerage and property management
in Minneapolis, and investment sales and consulting services for
public and private clients nationally. NorthMarq Corporate Solutions
works nationally with mid-sized corporate users to manage their real
estate needs. For more information, please visit the company's Web
site at www.northmarq.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' solutions are designed
around the latest in Windows-based technology, while incorporating
innovative document management and Web-based capabilities into its
full suite of products.
Additional information about FICS is available via the company's
Web site at www.loanware.com.
Media contact for FICS
Cristi Murray, 678-935-7135
Copyright Business Wire 2008
