SS&C Technologies Holdings, Inc. (Nasdaq:SSNC), a global provider of financial services software and software-enabled services, today announced that JLL has selected SS&C's Precision LM™ commercial/multifamily loan management solution to support its agency lending operations.
In August 2015, JLL acquired Oak Grove Capital, one of the nation's longest-standing providers of debt financing for multifamily and seniors housing real estate. Precision LM will provide JLL with a single cloud platform to handle the full loan lifecycle, including loan origination, underwriting, asset management and servicing, as well as borrower self-service, investor reporting, and workflow automation.
Following an extensive due diligence process, JLL chose SS&C Precision LM in order to standardize its processes on a single platform, enabling the company to improve operational efficiency and control. In addition, Precision LM's highly flexible and configurable design will allow each end user to have their own customized view of the system. The flexible design will also allow JLL to integrate the platform with other internal systems and third-party applications.
"We were impressed by SS&C's software and development expertise and focus, as well as its commitment to working with us to advance Precision LM as feature-rich Agency platform," said Mike Rulf, Managing Director with JLL's Capital Markets. "Precision LM is highly flexible and extensible, and we liked the simplicity and efficiency of having one end-to-end system that could support a broad range of commercial loan products in addition to multifamily. We are confident SS&C and Precision LM will continue to meet our evolving business and regulatory requirements."
SS&C Precision LM is a fully integrated system that supports all commercial/multifamily loan origination, servicing, and accounting. A single point of entry increases efficiency by eliminating redundant data, reducing errors, and lowering maintenance and operating costs. A centralized loan portfolio enables users to maintain a detailed loan history and audit trail and generate comprehensive loan portfolio reporting. Precision LM also provides the ability to measure risk and exposure with proactive, integrated portfolio analytics and executive dashboards.
"SS&C is focused on developing and supporting loan software that is highly responsive to current industry requirements," said J. Timothy Reilly, SS&C's Senior Vice President and General Manager, Institutional and Investment Management. "We are nimble and aligned with our clients, and a strategic partner for companies like JLL. SS&C is committed to the Agency Lending space, and partnering with customers to deliver a world-class system that sets the industry standard."