SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a global provider of financial services software and software-enabled services, today announced that Pace Financial Group ("Pace") has selected SS&C's Precision LM™ commercial loan servicing software. Pace chose SS&C to provide enhanced value-add services and reporting to its life insurance clients.
Headquartered in Columbus, OH, Pace has full service commercial mortgage loan servicing operations throughout the Midwest and Southeast. The mortgage banking company needed a widely used, commercial-grade loan servicing software platform to improve service levels to external investors and internal management. With Precision LM's highly automated processing, robust reporting and strong controls, Pace will now be able to bring on new borrowers, loans, and investors with no delays.
"To position Pace Financial Group for continued growth and meet increasingly complex client requirements, we needed to invest in advanced servicing software and partner with a leading technology firm," said Matt Fletcher, Director of Servicing at Pace Financial Group. "I am highly confident in SS&C's ability to improve our operational efficiency, and accelerate the expansion of our loan servicing portfolio with the implementation of Precision LM."
A number of Pace Financial Group's clients are life company originators and also use Precision LM. With both on a common software platform, Pace can automate standardized remittance files, leading to timely payment information delivery. Precision LM also simplifies automated shadow servicing of actual versus expected payment activity for life insurance companies.
"We are delighted when we see the technological and functional superiority of Precision LM attract exceptional new clients like Pace Financial Group," said Stan Szczepanik, Vice President, and SS&C Technologies. "SS&C continues to build strong momentum in bringing leading servicers onto the Precision LM platform, building on our diverse and expanding client base of over 70 financial services firms."