Cascade Financial Services Implements FICS’ Mortgage Servicer

Posted by Orb Staff on April 21, 2009 No Comments
Categories : Mortgage Servicing

ial Industry Computer Systems Inc. (FICS), a provider of in-house residential origination and servicing technology and commercial servicing technology, has successfully implemented its Mortgage Servicer solution at Mesa, Ariz.-based Cascade Financial Services. Cascade Financial Services, a mortgage bank specializing in land/home-lending solutions for the manufactured housing industry, had a goal to move away from delivering loans on a flow basis to financial institutions that purchase loans on a correspondent basis. The company, a Ginne Mae issuer, also needed to establish a servicing division and implement an automated solution that would automate the servicing of its portfolio, as well as be able to report directly to Ginne Mae's Reporting and Feedback System. "Moving away from secondary investors was a critical part of our business plan," says George Dover, CEO of Cascade Financial Services. "Secondary investors are very particular when it comes to manufactured housing. Due to this niche, we operate in being able to securitize our retail originations through Ginnie Mae, and the ability to service those loans was critical to us." SOURC

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