FICS Launches Rules OnDemand™ for its Loan Origination Software

New Module Provides Tools to Create Customized Logic within Loan Producer

DALLAS--(BUSINESS WIRE)-- FICS, a mortgage technology specialist, announces the release of Rules OnDemand, a business rules engine for creating customized business logic within the Loan Producer™ loan origination software (LOS). Customized business logic is important to a dynamically changing environment such as the mortgage loan origination industry.

FICS’ Rules OnDemand business rules module provides its LOS customers with the tools necessary to create customized logic to help ensure quality control and regulatory compliance. In addition, the rules created with the module can assist with loan product selection, loan eligibility, loan validation, custom underwriting conditions, private mortgage insurance (PMI) pricing, interest rate pricing and workflow. This automation of business rules and logic represents a measurable advantage for all employees. Rules OnDemand boosts the accuracy and efficiency needed to manage required guidelines for approvals, compliance, pricing, investor conformance, and general policies and procedures.

“Standard Mortgage has used Rules OnDemand to create custom rules that best fit our workflow,” said Bruce Cola, IT manager for New Orleans-based Standard Mortgage. “FICS has always given us access to all of the data collected in Loan Producer, and now they have developed another tool to help us work with that data to ensure that every loan meets our specific standards.”

Loan Producer automates the loan origination process from point of sale to processing, tracking, underwriting, closing funding and secondary marketing functionality. FICS has provided the LOS to lenders for more than 27 years, with new developments released each year. Loan Producer also provides a seamless transfer of data into FICS’ Mortgage Servicer^™, eliminating the need to re-key information and improving the integrity of the loan data.

“Lending policies and compliance requirements vary by lender for the loans they originate and close,” said Susan Graham, president of FICS. “Rules OnDemand enables our customers to benefit from the automation Loan Producer provides and take advantage of custom business rules that have traditionally been limited to more expensive platforms.”

About FICS

Founded in 1983 and headquartered in Dallas, Texas, Financial Industry Computer Systems, Inc. (FICS) specializes in providing flexible, comprehensive residential and commercial technology solutions to the mortgage industry. FICS' solutions are designed around the latest in Windows-based technology, while incorporating innovative document management and Web-based capabilities into its full suite of products.

Additional information about FICS is available via the company's Web site at www.FICSLoanWare.com.com.

For FICSDavid Jones, 678-781-7238

Source: FICS