FICS Further Automates Commercial Mortgage Securities Association Reporting Through Commercial Servicer; Enhancements Enable Servicing Companies to Easily Report Required Information to Investors.

DALLAS -- Financial Industry Computer Systems, Inc. (FICS), a mortgage technology specialist that provides in-house residential origination and servicing technology and commercial servicing technology to the mortgage industry, announced that the new components of the Commercial Mortgage Securities Association (CMSA(R)) Investor Reporting Package(TM) (IRP) version 4.0 have been implemented into its Commercial Servicer solution, making it easier for FICS' servicing customers to report the required information to GSE investors.

CMSA is an international trade organization designed to improve the liquidity of commercial real estate debt securities through access to the capital markets. The organization has more than 300 member firms representing more than 4,000 individuals. One of the main missions of the CMSA is to establish loan document and reporting standards, including the CMSA Investor Reporting Package, the accepted standard format for secondary market post-issue information.

In order to maximize the usefulness and effectiveness of the IRP for the investor community, and to make the process of compiling and calculating these reports less time consuming and cumbersome on servicers, FICS has automated the process for users of its Commercial Servicer solution. FICS has also provided an extra level of flexibility with its solution by giving users the option to execute the CMSA IRP programs in both version 3.1 and 4.0 to further accommodate investors as they make the applicable updates to their system. This enables servicers to report to various investors and trustees that may update systems at different intervals.

"In my mind FICS has been ahead of the curve where CMSA reporting is concerned," said Brian E. Knibbs, vice president, Investor Reporting/Database Management for CWCapital LLC. "FICS integrates any and all modifications to the CMSA standard in advance of any timeline or requirement, and well before our Master Servicers require us to make the changes. FICS enables us to report to our Master Servicers using either Version 3.1 or 4.0 a full three months ahead of the July 1 deadline. As our presence in the CMBS market expands, our ability to meet time constraints becomes more and more important. The ability to produce all of the CMSA reports on dozens of securitizations within a few hours is paramount and FICS allows us to easily meet these goals."

"We began using CMSA's Periodic File, Property File, Financial File, Comparative Financial File and Watchlist File after FICS implemented them into their Commercial Servicer system," said Dave Wenthold, assistant vice president, CMBS Supervisor with NorthMarq Capital, Inc. "This conversion has reduced the average time spent on investor reporting from 12 minutes per pool to 8 minutes per pool. With 168 securitized CMBS pools, the total time spent on investor reporting has been reduced by 672 minutes or 11.2 hours each month now that we are using the more automated and efficient FICS CMSA Files."

"Incorporating the ability to create the CMSA reports directly from the Commercial Servicer solution saves our customers an incredible amount of time and effort," said Dawn Gibbs, president and CEO of FICS. "Automating this process and enabling users to use the data that is already entered into the Commercial Servicer system to generate the CMSA reports eliminates the need for compiling and reentering data as well as the need to configure the report calculations. With a push of a button, the Commercial Servicer solution can go back and do all the calculations required for the CMSA reports, enabling servicers to provide investors with the required reports in a time efficient manner."

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.