PR Mortgage & Investments Selects SS&C Precision LM to Support Its Agency Lending Operations
WINDSOR, Conn., May 17, 2018 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq:SSNC), a global provider of financial services software and software-enabled services, today announced that PR Mortgage & Investment Corp. (“PR Mortgage”) has selected SS&C Precision LM to support loan servicing and origination for HUD/Ginnie Mae, Fannie Mae, Freddie Mac and its banking programs. SS&C Precision LM will also enhance PR Mortgage’s asset management and investor reporting, and provide secure web-based portals for borrower self-service and document workflow automation.
Headquartered in Carmel, IN, PR Mortgage is a leading mortgage banking firm specializing in multifamily housing and healthcare facilities finance. PR Mortgage’s top priority was to find a fully integrated, highly automated loan origination and servicing platform. SS&C Precision LM’s cloud platform offered the flexibility to support PR Mortgage’s complex loan products including construction, participations, bridge and adjustable rate loans.
“SS&C effectively demonstrated its ability to be a strategic partner for PR Mortgage and brings the industry talent and technology expertise we need to transform our agency lending operations,” said Michael Dury, President & COO of PR Mortgage. “SS&C has an impressive track record and a knowledgeable team to implement best practices based on their recent experience onboarding JLL.”
“We’ve partnered with our clients to build this next generation platform and are pleased to add PR Mortgage to our growing list of agency lenders and servicers,” said Bill Stone, Chairman and CEO of SS&C. “We are committed to the agency lender space and will continue to expand our development efforts and system capabilities.”
SS&C’s client base includes premier agency lenders that are nationally ranked and have received the following recognition:
- Top 5 FHA Multifamily Producer
- Top 10 Freddie Mac Multifamily Lender
- No. 1 Fannie Mae lender in total loan volume of DUS affordable housing loan originations
- No. 1 Freddie Mac lender in total number of closed affordable housing loans
- No. 2 Freddie Mac lender in total loan volume of affordable housing loan originations
About PR Mortgage
PR Mortgage & Investments is a wholly owned subsidiary of Merchants Bank of Indiana, specializing in multifamily housing and health care facilities finance. Merchants Bank of Indiana’s holding company, Merchants Bancorp (Nasdaq: MBIN), is a diversified bank holding company headquartered in Carmel, Indiana operating multiple lines of business with a focus on Federal Housing Administration (“FHA”) multifamily housing and healthcare facility financing and servicing, mortgage warehouse financing, retail and correspondent residential mortgage banking, agricultural lending and traditional community banking. Merchants Bancorp conducts its business through its direct and indirect subsidiaries, Merchants Bank of Indiana, P/R Mortgage and Investment Corp., RICHMAC Funding LLC and Merchants Mortgage, a division of Merchants Bank of Indiana. PR Mortgage is a premier provider and servicer of multifamily, senior, and student housing.
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.
Additional information about SS&C (Nasdaq:SSNC) is available at www.ssctech.com.
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