Press release

FICS® Hosts 33rd Annual Users’ Conference, Celebrates Continued Technology Innovation, Regulatory Readiness

Sponsored by Businesswire

Financial Industry Computer Systems, Inc. (FICS®), a
leading mortgage loan
origination software
, residential
servicing software
and commercial
servicing software
provider, recently hosted its 33rd Annual Users’
Conference in Dallas. The April conference had almost 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 featured
comprehensive overviews of the system functionality in Loan Producer®,
Commercial Servicer® and Mortgage Servicer®. Industry experts discussed
Consumer Financial Protection Bureau (CFPB) changes, TRID 2.0, the new
Uniform Loan Application Dataset (ULAD) and Uniform Residential Loan
Application (URLA), and the Freddie Mac Investor Reporting Change
Initiative (IRCI). FICS® employees and customers shared best practices
via workshops, open forums and informal conversations. Sharon Kirk,
Assistant Vice President Mortgage Servicing for Interra Credit Union,
said, “FICS’ Users Conference is an excellent way to not only connect
with FICS’ staff but also with other system users. This networking
provides us with the ability to share best practices and solutions to
industry issues, making us all stronger users and Servicers.”

Dawn Gibbs, CEO and chairman of the board for FICS®, kicked off the 33rd
conference on Wednesday night by welcoming FICS® customers and
celebrating FICS’ technology innovations that have played an important
role in pushing the mortgage industry forward. “A testament to their
staying power, Mortgage Servicer®, Commercial Servicer®,
and Loan Producer® have been rewritten twice over the years
to their current 3rd generation versions in .NET,” stated
Gibbs. “FICS’ other products have been rewritten several times as well
to ensure they also stay current with the latest technology, give
customers and borrowers a satisfying user experience, and provide a
mortgage solution with the functionality necessary to remain competitive
in the industry.”

Freddie Mac’s John Felix and Treaty Armstrong reviewed the new reporting
requirements under the IRCI, focusing on the 45-day cutover period that
runs from April 16 through June 3, 2019. Freddie Mac’s Colleen
Flaxington discussed the features and benefits of the new URLA, for
which optional use begins July 1, 2019. To prepare for these changes,
lenders should take advantage of the videos and other resources on the
IRCI and ULAD/URLA pages of the Freddie Mac® and Fannie Mae® websites as
well as establishing a relationship with their GSE representatives.

In their session, Morton Baird, Michael Baird and Kaitlin Valentine of
Baird Law, PLLC, discussed recent changes in leadership and enforcement
activity at the CFPB. Described by Morton Baird as a “lightning rod of
controversy,” the CFPB is facing challenges in all three government
branches. Enforcement activity and restitution have significantly
declined under Directors Mulvaney and Kraninger. The Baird Law
representatives also outlined the changes and clarifications under TRID
2.0. 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 developed innovative new automation tools to
improve the user experience. “At FICS®, we strive to develop software
that provides an exceptional experience for our customers and their
borrowers,” says Graham. “This past year we’ve focused on improving the
user experience by building in more automation to accommodate regulatory
changes and increase efficiency for mortgage lenders and servicers.
FICS® is committed to helping our customers operate efficiently, comply
with industry regulations and deliver incomparable customer service to
their borrowers.”

The 2020 Users’ Conference will be held April 7th – 9th
in Dallas.

About FICS®

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
for more information about our exceptional mortgage software solutions.