Financial Industry Computer Systems Inc. (FICS), a provider of commercial loan servicing software, has rewritten its LoanStat service, which the company says will help to enhance investors' and borrowers' experiences when viewing real-time commercial loan information online.
The upgrade to LoanStat uses Adobe Flex to provide a new interface for borrowers and investors to review loan data online and set up electronic loan payments. Navigation through the options is more user-friendly, FICS says, and features, such as setting up ACH payments and viewing detailed loan data, have been simplified for the end user.
Borrowers and investors using the system can access electronic copies of amortization schedules, escrow analysis, billing statements, escrow activity reports, loan activity reports and payoff statements, among other documents.
"We are able to provide more than 4,000 borrowers with a means to access their accounts and set up payment schedules at their convenience," says Karen Pribnow, executive vice president and director of servicing for NorthMarq Capital. "We have experienced reduced call volumes, allowing NorthMarq Capital employees to offer more efficient service to the borrowers."