WINDSOR, Conn., Jan. 10,
2019 /PRNewswire/ -- SS&C Technologies Holdings, Inc.
(Nasdaq: SSNC), today announced the release of Precision LM 4.0,
the newest version of the company's commercial/multifamily loan
servicing solution.
Precision LM is a single, integrated platform supporting loan
application through payoff. The latest version provides a number of
valuable enhancements: improved property insurance tracking, Risk
Based Capital (RBC) reporting and comprehensive Home Mortgage
Disclosure Act (HMDA) compliance.
Precision LM natively tracks a wealth of HMDA-related data
required by lenders and servicers originating multifamily loans. In
anticipation of new HMDA reporting requirements going into effect,
SS&C has worked in tandem with its clients and the Mortgage
Bankers Association to expand the amount of filing data
tracked. As a result, automation of the HMDA reporting is
significantly faster, improving productivity, providing operating
leverage and reducing errors.
"The new HMDA reporting regulations taking effect in 2019 will
add an additional layer of complexity to the compliance process,"
said Kathy Marquardt, Vice President
of Commercial/Multifamily Group, Mortgage Bankers Association.
"Those lenders and servicers whose loan origination and servicing
systems have not been updated to accommodate the required filing
data could be left with a number of manual processes that result in
errors."
"Over the past several years, Precision LM has added a number of
marquis lenders and servicers to its client roster," said
Stan Szczepanik, Vice President,
SS&C Technologies. "Their recommendations are helping to shape
our strategic direction and technology roadmap. Precision LM 4.0
has been thoughtfully designed to meet our clients' top needs from
enhanced automation to proactive HMDA compliance."
For more details, visit the Precision LM product page.
About SS&C Technologies
SS&C is a global
provider of investment and financial software-enabled services and
software for the global financial services and healthcare
industries. Founded in 1986, SS&C is headquartered in
Windsor, Connecticut and has
offices around the world. Some 13,000 financial services and
healthcare organizations, from the world's largest institutions to
local firms, manage and account for their investments using
SS&C's products and services.
Additional information about SS&C (Nasdaq:SSNC) is available
at www.ssctech.com.
Follow SS&C on Twitter, LinkedIn and Facebook.
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SOURCE SS&C