Precision LM 3.0: The best technology to meet agency reporting requirements
By: Bishal Thapa
Government-sponsored enterprises (GSEs) like Fannie Mae have been providing liquidity and stability to the multifamily mortgage market for more than 30 years.
The Delegated Underwriting and Servicing (DUS) network plays a critical role in the execution of Fannie Mae’s multifamily business - DUS lenders adhere to intense credit and underwriting standards as mandated by the agency.
To ensure they meet ongoing reporting and compliance requirements like these, lenders must use technology that is sound, automated, and efficient.
Precision LM version 3.0 from SS&C
The latest version of Precision LM from SS&C is the result of significant input and engagement from clients. It has been greatly enhanced to produce many Fannie Mae, Freddie Mac, and Ginnie Mae agency exports to ensure compliance with agency lender reporting.
In addition, Web APIs provide seamless integration with other systems and greatly streamline loan operations. Updated underwriting functionality allows for the tracking of all the dates associated with various underwriting/closing timelines on loans in one single user screen.
The platform’s integrated portal, which provides borrowers with 24/7 online access to their loan information, now allows for payment statement downloads, balances, and year-to-date collected amounts. The amortization schedule is also readily accessible within the portal. The wealth of new functionality and enhancements in v3.0 will address the automation, ease of use and reporting needs of Precision LM’s diverse client base of life insurance companies, agency/multifamily lenders, commercial mortgage banking firms and non-bank lenders.
To learn more about the key enhancements to Precision LM, register for our free webinar taking place on Thursday, September 21st at 2:00 p.m. Eastern.
SS&C Precision LM is used by more than 70 financial institutions globally, including leading mortgage REITs, agency lenders, servicers, non-bank lenders, insurance companies, and banks. The platform provides comprehensive management of a loan asset through all phases of the asset life cycle, including disposition. It is structured to support a wide variety of loan asset types (e.g. commercial mortgages, construction loans, lines of credit, asset-based loans, and performing, non-performing, or reperforming residential loans).
SS&C has an extensive software development group dedicated to the Precision LM product and is committed to delivering a world-class, highly responsive system that sets the industry standard for the commercial/multifamily space.
To learn how SS&C can help you meet your loan management challenges or to register for the webinar, email Bishal Thapa or call +1-646-971-5365.