Tinker Federal Credit Union Automates Residential Mortgage Loan Origination and Servicing with Technology From FICS.ORLANDO, Fla. -- Financial Industry Computer Systems, Inc. (FICS FICS Fellow of the International College of Surgeons. ), a mortgage technology specialist that provides in-house residential origination and servicing technology to the mortgage industry, announced at the MBA's National Technology in Mortgage Banking Conference & Expo that Tinker Federal Credit Union (TFCU TFCU Teachers Federal Credit Union TFCU Tinker Federal Credit Union TFCU Tooele Federal Credit Union TFCU Tower Federal Credit Union TFCU Tyndall Federal Credit Union (Tyndall Air Force Base, Panama City, Florida) ) has successfully implemented Loan Producer(R), FICS' residential mortgage 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, and Mortgage Servicer(TM), the company's residential mortgage servicing Mortgage servicing The collection of monthly payments and penalties, record keeping, payment of insurance and taxes, and possible settlement of default , involved with a mortgage loan. system. TFCU has assets of more than $1.3 billion and serves more than 175,000 members, making it the largest credit union in Oklahoma. "The biggest benefit to our staff from Loan Producer and Mortgage Servicer has been increased automation," said Connie Weekley, vice president and manager of Mortgage Lending for Tinker Federal Credit Union. "FICS' systems provide functionality that enables us to automate many functions we have previously performed manually. Loan Producer and Mortgage Servicer drastically reduce the resources once needed to process and service loans, so we can focus more time and effort on our members." In addition to Loan Producer and Mortgage Servicer, TFCU has also purchased and implemented FICS' Loan Accountant and Mortgage Accountant. Loan Accountant and Mortgage Accountant are subsidiary ledger Noun 1. subsidiary ledger - details of an account supporting the amount stated in the general ledger account book, book of account, ledger, leger, book - a record in which commercial accounts are recorded; "they got a subpoena to examine our books" packages that deliver automated capabilities in order to simplify accounting for the loan closing and servicing processes. Mortgage Accountant further automates daily cash book balancing and month-end reporting, showing the distribution and movement of mortgage funds, bank account histories and reconciliation, trial balances, P&I advances and recovery, and ACH (Automated Clearing House) A system of the U.S. Federal Reserve Bank that provides electronic funds transfer (EFT) between banks. It is used for all kinds of fund transfer transactions, including direct deposit of paychecks and monthly debits for routine payments to distribution. "FICS' origination and servicing systems offer the flexibility and capabilities that interface well with IPS (1) (Inches Per Second) The measurement of the speed of tape passing by a read/write head or paper passing through a pen plotter. (2) (IPS) (Intrusion Prevention S Sendero," said Nicole Barkalow, business systems analyst for Tinker Federal Credit Union. "The accountant add-ons improve our efficiency by eliminating the need to total amounts manually and, instead, automatically calculate sums for Loan Producer and Mortgage Servicer." "FICS has been able to help Tinker Federal Credit Union automate its origination, loan accounting and servicing processes to the benefit of both credit union employees and its members," said Dawn Gibbs, president of FICS. "With fewer necessary manual procedures as a result of our software solutions, Tinker Federal Credit Union has been able to redirect available resources to better increase internal efficiency and maintain its high level of member satisfaction." About Tinker Federal Credit Union Founded in 1946 by a group of Tinker Field Tinker Field is a stadium in Orlando, Florida. It is primarily used for baseball, and was the home field of the Orlando Rays minor league baseball team before they moved to The Ballpark at Disney's Wide World of Sports in 2000. civilian employees, Oklahoma City Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm , Okla.-based Tinker Federal Credit Union (TFCU) was founded to provide a different way to save and borrow money, and now has grown into 15 full-service branches, four electronic branches and one Mobile Service Center. Today, TFCU has become the largest credit union in Oklahoma with assets exceeding $1.3 billion and serving more than 175,000 members including Tinker Air Force Base employees and employees of over 400 area companies. For more information, visit TFCU online at www.tinkerfcu.org. 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) 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 imaging 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. |
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