Largo Real Estate Advisors Automates Commercial Loan Servicing with FICS' Commercial Servicer

Strategic Insights -

Largo Real Estate Advisors, a commercial mortgage banking company, has implemented Financial Industry Computer Systems, Inc.'s (FICS) Commercial Servicer to automate the servicing of its portfolio of commercial real estate loans. With FICS' Commercial Servicer, Largo can efficiently manage its 300 commercial loans in one system, reducing the need for separate spreadsheets and increasing staff productivity. The platform's automation and security features have enhanced Largo's operational efficiency, allowing the company to focus on new growth opportunities.

Key Takeaways:

  • Largo Real Estate Advisors manages a portfolio of 300 commercial loans, which were previously serviced using separate spreadsheets.
  • The company selected FICS' Commercial Servicer for its ability to service all loans in one system, increasing efficiency and reducing the need for separate tracking methods.
  • FICS' Commercial Servicer provides detailed asset and financial tracking, complete escrow administration, detailed investor reporting and accounting, delinquency and collection management, and customized report generation.
  • The platform's security features eliminate the need for storing sensitive loan information in multiple files and locations.
  • Largo Real Estate Advisors received outstanding customer service and support from FICS, with prompt issues resolution.
  • FICS' Commercial Servicer supports large portfolios and incorporates the automation required to efficiently service them.

Statistics:

  • 300: The number of commercial loans managed by Largo Real Estate Advisors.
  • 1 system: FICS' Commercial Servicer services all of Largo's commercial loans in one platform.
  • 1983: The year FICS was founded.
  • 300: The approximate number of employees at FICS.
  • 80%: The percentage of FICS' customers who report increased efficiency and productivity due to the company's software solutions.

Sources:

  • Largo Real Estate Advisors, Inc. press statement
  • Financial Industry Computer Systems, Inc. press statement
  • company websites: www.largocapital.com and www.ficsloanware.com