As the complexity of commercial lending and servicing continues to rise, a number of software technology vendors in this space have failed to keep pace. Even some of the traditional providers have gone into maintenance mode or rolled their applications into a broad financial services platform and have eliminated dedicated development teams. Their legacy systems require continual upgrades in hardware and software components or bolt-on side modules to compensate for core system limitations. Pouring time and money into these legacy systems is a poor technology reinvestment strategy that is not sustainable over the long-term.
SS&C, on the other hand, continues to invest heavily in Precision LM, infusing this commercial loan servicing system with innovative new technology features to streamline processes that improve efficiency and ease of use for lenders, servicers and borrowers. Our new release, Precision LM 5.0, is a great example of the innovative new enhancements that attract our growing list of marquis clients, including Walker & Dunlop, JLL, Merchants Capital, WoodmenLife, CUNA Mutual and many others.
A sample of the enhancements in v5.0 include:
- CoreLogic integration for improved tax disbursement automation and accuracy
- Maker/checker processes on all disbursement types for improved control and risk mitigation
- Flexible escrow analysis setup options, groupings, compliance rules and notifications
- Improved financial statement analysis with mapping of line item detail to CREFC/Agency roll-up categories
- Insurance templates with prefilled coverage requirements to ensure investor compliance and minimize data entry
- Automated bulk generation of CREFC investor reporting package
“The release of Precision LM 5.0 helps to further establish SS&C as a leader in loan servicing technological innovation and aligns well with Merchants Capital’s vision to leverage leading-edge technology to grow our servicing portfolio and scale our operations,” said Brian Sullivan, Chief Operating Officer at Merchants Capital. “The flexible, open architecture of this platform provides numerous benefits for our technology and business teams, including integration with our internal and third-party systems, improved data integrity and reliability, and better reporting and visibility across our organization.”
“SS&C is leading the industry in the application of disruptive technologies such as Artificial Intelligence, Machine Learning, and Intelligent Workflow Automation in investment management operations and accounting,” explains Stan Szczepanik, Vice President at SS&C Technologies. “We will be integrating these and other advanced technologies into future releases of Precision LM as we continue to partner with our customers to solve complex challenges and drive innovation.”
For additional information visit our product page.
Commercial Lending, Insurance, Real Estate & Property Management