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.