SS&C Technologies Holdings, Inc. (Nasdaq:SSNC), a global provider of financial services software and software-enabled services, today announced the availability of Precision LM™ 3.0, the latest version of the company's loan origination, servicing, accounting and asset management solution. The new version marks the culmination of significant input and engagement from Precision LM clients as well as SS&C's proven ability to execute on its comprehensive development roadmap.
Precision LM 3.0 includes the introduction of expandable web services. These services will transform the traditional exchange of flat files to a more open model where Precision LM can expose and accept data to/from internal and external systems. This capability will streamline client integration efforts and improve data integrity, operational efficiency, and workflow capabilities.
Functional enhancements in v3.0 span loan production, servicing and technology. They address the automation, ease of use, and reporting needs of Precision LM's diverse client base of life insurance companies, agency/multifamily lenders, commercial mortgage banking firms, banks and nonbank lenders. The new release further strengthens Precision LM's capabilities in origination, insurance administration, ACH processing, and operating statements.
Over the past year, SS&C has engaged with strategic development partner, JLL, a large primary servicer and leading agency/multifamily lender. "We can see that our efforts will result in significant improvements in automation, efficiency, and reporting," said Mike Rulf, Managing Director of Capital Markets for JLL. "Precision LM now provides tracking and automated reporting of required information to all agencies, including Fannie Mae E-servicing, Ginnie Mae GinnieNET, and Freddie Mac B2B. We are also pleased with v3.0's expandable web services that streamline document management and workflow, and the enhanced borrower portal that supports online payments and access to billing statements."
"SS&C is committed to delivering a world-class, highly-responsive system that sets the industry standard for lenders and servicers." said Stan Szczepanik, Vice President, SS&C Technologies. "Partnering with our customers to deliver innovation that furthers their business objectives is an important way in which our dedicated software engineers and subject matter experts deliver highly functional software."