Midland Loan Services Launches Enterprise! Loan Management System

Strategic Insights -

Midland Loan Services, Inc., a leading third-party provider of servicing and technology solutions for the commercial real estate finance industry, has announced the launch of its web-based Enterprise! loan management system. The system has already serviced over $90 billion in commercial real estate loans and is set to be rolled out for widespread client use in 2004. Enterprise! offers significant advantages to help clients streamline their servicing operations and better manage their loan portfolios.

Key Takeaways:

  • Enterprise! is a web-based technology platform developed specifically to manage the entire commercial mortgage lifecycle, including loan origination, securitization, servicing, and portfolio management.
  • The system can accommodate complex deal and ownership structures and features an electronic loan file architecture wherein data, images, and reports can be stored and easily accessed in a paperless environment.
  • Enterprise! is delivered on a secure, hosted basis via Shared Servicing(R), Midland's comprehensive servicing solution, which allows clients to outsource select servicing and processing activities on a private-label basis while retaining direct control of their borrower relationships.
  • Midland plans to showcase Enterprise! and Shared Servicing at the Mortgage Bankers Association of America's Commercial Real Estate Finance Convention from February 1-4 in Orlando, Florida.
  • Midland holds the industry's highest servicer and special servicer ratings from Fitch Ratings and Standard & Poor's.
  • As of December 31, 2003, Midland's portfolio was approximately $83 billion.

Statistics:

  • Over $90 billion in commercial real estate loans is currently being serviced on the Enterprise! platform at Midland and several prominent financial institutions.
  • Midland plans to showcase Enterprise! and Shared Servicing at the Mortgage Bankers Association of America's Commercial Real Estate Finance Convention.
  • Midland's portfolio was approximately $83 billion as of December 31, 2003.
  • Chris Mazzetti, executive vice president of Midland, stated that the system will help clients reduce their overall servicing costs, raise productivity, and enhance risk management.

Sources:

  • PRNewswire, Overland Park, Kan., Jan. 29
  • Fitch Ratings and Standard & Poor's
  • Edelman, +1-212-704-4473, doug.donsky@edelman.com, for Midland Loan Services, Inc.
  • http://www.midlandls.com/
  • Mortgage Bankers Association of America's Commercial Real Estate Finance Convention