For Immediate Release
HomeStreet Bank Selects SS&C to Support Commercial Real Estate Lending Operations
Seattle community bank will leverage Precision LM to manage $3.6 billion commercial/multifamily mortgage loan portfolio
WINDSOR, CT, August 13, 2020 (PR NEWSWIRE) – SS&C Technologies Holdings, Inc(Nasdaq: SSNC) today announced that HomeStreet Bank has selected SS&C Precision LM to support its commercial real estate portfolio, including Fannie Mae Delegated Underwriting and Servicing (DUS®) loans.
HomeStreet Bank is a leading Seattle-based commercial real estate and multifamily lender. HomeStreet’s top priority was to partner with a market-leading technology provider experienced in the commercial/multifamily lending and servicing space. SS&C’s cloud-based solution, Precision LM, will provide HomeStreet Bank with an automated, scalable servicing platform that covers the entire loan lifecycle. HomeStreet’s borrowers will also have access to a branded and secure web-based portal for interactive self-service.
“HomeStreet is committed to investing in technology that supports our growing commercial real estate and multifamily business,” said Troy Harper, Executive Vice President and Chief Information Officer at HomeStreet Bank. “We wanted a platform that enabled our team to process work more efficiently and to utilize improved data maintenance and access management tools. Precision LM’s functionality and commitment to technology innovation is consistent with HomeStreet’s strategic direction.”
“We are excited to partner with HomeStreet Bank and provide their financial institution with access to innovative technologies and services to help automate and optimize their loan servicing operations,” said Stan Szczepanik, Managing Director, SS&C Technologies. “We are seeing growing demand for Precision LM’s technology and expertise among banks, including those with significant agency/multifamily portfolios.”
About HomeStreet Bank
HomeStreet, Inc. (Nasdaq:HMST) is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii through its various operating subsidiaries. The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. Its principal subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. HomeStreet Bank is a member of the FDIC and an Equal Housing Lender.
About SS&C Technologies
SS&C is a global provider of investment and financial software-enabled services and software for the global financial services industry. Founded in 1986, SS&C is headquartered in Windsor, Connecticut and has offices around the world. Some 11,000 financial services organizations, from the world’s largest institutions to local firms, manage and account for their investments using SS&C’s products and services.
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