DALLAS--(BUSINESS WIRE)--Financial Industry Computer Systems, Inc. (FICS®), a leading mortgage loan origination software, residential servicing software and commercial servicing software provider, recently hosted its 32nd Annual Users’ Conference in Dallas. The April conference had nearly 300 lenders, servicers, and other industry partners attending.
FICS’ customers enjoyed live demonstrations of new product features and enhancements as well as educational sessions surrounding regulatory changes affecting the mortgage industry. Special sessions were also held to provide comprehensive overviews of the system functionality in Loan Producer® and Mortgage Servicer®. Industry experts discussed HMDA reform, CFPB changes, GSE changes for the new URLA, and the Freddie Mac Investor Reporting Change Initiative. FICS® employees and customers shared best practices via workshops, open forums and informal conversations. Irma Aguilar, vice president of Servicing for Rocky Mountain Mortgage Company, said, “We’ve attended all 32 conferences. We like getting together with other companies and learning from them as well as from FICS® employees. It’s a family!”
Dawn Gibbs, CEO and chairman of the board for FICS®, kicked off the 32nd conference on Wednesday night by welcoming FICS® customers and highlighting the importance of adapting FICS’ software to meet the technology needs and communication preferences of Millennials, who rely heavily on mobile devices. “The future of FICS® (and frankly, the world at large) relies on the success of the Millennial generation,” stated Gibbs. Accordingly, “FICS® has dedicated resources to technology that takes the user experience from the desktop, whether running locally or in the Cloud, to the web and to a responsive app on a mobile device.”
Leonard Ryan, founder and president of QuestSoft® Corporation, discussed regulatory compliance issues that QuestSoft® is seeing in the field. Regarding the Economic Growth, Regulatory Relief and Consumer Protection Act recently passed by the Senate (raising the HMDA reporting thresholds to 500 loans per year), Ryan stated “At an exam, they will ask for all HMDA data even if you didn’t submit it. Therefore, it’s important to collect and perform quality control on all data.” FICS’ Loan Producer® has been updated to comply with the new HMDA changes.
In their session, Morton Baird and Michael Baird of Baird Law, PLLC, discussed the impact of recent CFPB changes on mortgage originations. According to Baird, “New CFPB leadership in Washington should ease the regulatory burden for lenders. However, because leadership is always subject to change, lenders shouldn’t relax on compliance.” FICS® updates their software regularly to keep up with applicable regulatory changes.
In her keynote speech, Susan Graham, president and COO of FICS®, elaborated on how FICS® has updated its software and delivery channels to improve the user experience. “The key to a successful mortgage business is a strong, user-friendly product supported by outstanding customer service,” says Graham. “At FICS®, we provide an exceptional user experience by making sure our software is robust and easy to use, while saving our customers time and money. To that end, we wrapped up the multi-year project to rewrite Loan Producer®, Mortgage Servicer® and Commercial Servicer® to a Microsoft® .NET architecture, providing more functionality and a better user experience. FICS® is committed to helping our customers operate efficiently and comply with industry regulations.”
The 2019 Users’ Conference will be held April 3rd – 5th in Dallas.
Financial Industry Computer Systems (FICS®) is a leading mortgage software company specializing in flexible, cost-effective, in-house mortgage loan origination, residential mortgage servicing and commercial mortgage servicing software for mortgage lenders, banks and credit unions. FICS’ software solutions operate on Microsoft® Windows® platforms using Microsoft® .NET Framework and provide customers the flexibility to choose an in-house or cloud hosting solution. The company also provides innovative document management and web-based capabilities in its full suite of products. Visit www.fics.com for more information about our exceptional mortgage software solutions.