Houston-based Envoy Mortgage is now using Financial Industry Computer Systems' (FICS) Mortgage Servicer platform to manage its loan servicing operations.
Envoy Mortgage had been outsourcing its loan servicing to a subservicer but recently decided to bring operations back in-house. As such, it required a solution to simplify the management of borrower and loan information.
FICS' Mortgage Servicer system automates loan servicing functions, including escrow administration, collections, investor accounting, payment processing, loss mitigation and year-end reporting. The company claims that with this Web-based system, each back-office employee is able to manage more loans, thus boosting operational efficiency and increasing revenue.
In a press release, Mike Maloney, senior vice president of Envoy Mortgage, said the system ‘has not only enhanced day-to-day workflow between origination and servicing, but it has also enabled us to expand our offerings to customers and further grow our company as a whole.’
Susan Graham, president and chief operating officer of FICS, said the solution has ‘allowed the Envoy Mortgage team to customize key aspects of their day-to-day workflow, enabling them to not only acquire additional loans, but service them more efficiently without incurring higher costs.’