Alliance Established Between FICS and Data-Vision; Loan Producer Users Realize Significant Savings in Document Delivery Processes.Business Editors DALLAS--(BUSINESS WIRE)--July 24, 2003 Financial Industry Computer Systems, Inc. (FICS FICS Fellow of the International College of Surgeons. ), a mortgage technology specialist that provides residential origination technology to the mortgage industry, announced that an alliance is now in place that enables enhanced communication between Loan Producer, FICS' residential loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. system (LOS), and RemoteDocs.com, an Internet-enabled, document delivery system from Mishawaka, Ind.-based Data-Vision, Inc. Through this alliance, FICS' customers are now able to electronically deliver closing document packages generated within Loan Producer directly to closing companies. The impact of this is a significant savings for lenders in terms of both time and money associated with delivering closing documents. On average, Loan Producer users will realize a 50-60 percent savings on shipping, paper and toner An electrically charged ink used in copy machines and laser printers. It adheres to an invisible image that has been charged with the opposite polarity onto a plate or drum or onto the paper itself. expenses over the traditional, paper based method of document delivery and will reduce the required time to facilitate the delivery of closing documentation by one to two days. "Utilization of Loan Producer in conjunction with RemoteDocs.com has had a positive impact on our overall origination processes by making the delivery of documentation much simpler and cost-effective," said Jacqueline Ford, mortgage manager of Michigan State University Michigan State University, at East Lansing; land-grant and state supported; coeducational; chartered 1855. It opened in 1857 as Michigan Agricultural College, the first state agricultural college. Federal Credit Union. "In addition, it has made things easier on our title companies as well because, since the documents are sent electronically versus fax, they are more precise and visually much clearer to read, which saves additional time and money." The alliance enables the closing documents to be delivered in one of two methods: either through an application service provider (ASP) module, in which Loan Producer users log into a secure Web site and load documents individually and closing agents log into the site to download them; or through Data-Vision's Automated Interface Management (AIM) module, which is used to build and deliver the documents to the Web site location. The RemoteDocs AIM module enables Loan Producer users to easily transmit their documents through Data-Vision's secure servers, making them available for download by closing agents and title companies. This helps FICS lenders streamline the delivery process. "This alliance demonstrates the commitment of both companies to keep offering product enhancements that will further streamline the lending process. Combining technologies produces a solution for quick delivery to market at less cost than creating an individual process," said John Dempsey John Dempsey may refer to:
"We want our customers to realize the greatest potential and return on investment when using our technology," said Dawn Gibbs, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of FICS. "Achieving this requires us to not only develop software systems to best meet their needs, but also to work closely with other vendors to expand the capabilities of our system, helping our customers to process loans in the most efficient way possible." About Data-Vision Incorporated in 1993 and based in Mishawaka, Ind., Data-Vision specializes in the development and delivery of products specifically tailored to the mortgage banking industry. Data-Vision provides two products: LoanQuoter.com (a template web site design service allowing clients to be up and operational with a fully functional mortgage web site at a fraction of the normal development time) and RemoteDocs.com (a solution for the delivery of closing documents using the power and speed of the Internet). For additional information about Data-Vision, please visit the company's Web site at www.d-vision.com or contact them directly at 888.925.8625. About FICS Founded in 1983 and headquartered in Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. , Financial Industry Computer Systems, Inc. (FICS) is a mortgage technology specialist that provides flexible, in-house residential mortgage loan origination, residential servicing, and commercial servicing solutions to the mortgage industry. FICS' residential origination system (Loan Producer), residential mortgage loan servicing Loan servicing is the process by which a mortgage bank or subservicing firm collects the timely payment of interest and principal from borrowers. The level of service varies depending on the type loan and the terms negotiated between the firm and the investor seeking their services. system (Mortgage Servicer), and commercial mortgage loan servicing system (Commercial Servicer) represent true, Windows(R)-based systems utilizing advanced Windows technology. These 32-bit client/server applications support ODBC (Open DataBase Connectivity) A database programming interface from Microsoft that provides a common language for Windows applications to access databases on a network. (Open Database Connectivity See ODBC. (standard, database) Open DataBase Connectivity - (ODBC) A standard for accessing different database systems. There are interfaces for Visual Basic, Visual C++, SQL and the ODBC driver pack contains drivers for the Access, Paradox, dBase, Text, Excel and Btrieve ) relational databases relational database Database in which all data are represented in tabular form. The description of a particular entity is provided by the set of its attribute values, stored as one row or record of the table, called a tuple. , providing lenders with quick access to mortgage loan data with Microsoft Word A full-featured word processing program for Windows and the Macintosh from Microsoft. Included in the Microsoft application suite, it is a sophisticated program with rudimentary desktop publishing capabilities that has become the most widely used word processing application on the market. , Excel and other ODBC compliant systems such as Access, IQ/Eureka or Crystal Reports. For additional information about FICS and its products, visit the company's Web site at www.loanware.com. |
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