Countrywide Installs Misys Loan IQ for Commercial Mortgage Loan Business
Countrywide Capital Markets, a division of Countrywide Financial Corporation, a US residential mortgage provider, has installed Misys Loan IQ to manage its commercial mortgage business. The solution, implemented earlier this year, offers Countrywide a single software platform to book, maintain and sell loan positions. Already widely known in the home mortgage market in the US, Countrywide established a commercial mortgage business, Countrywide Commercial Real Estate Finance, in 2004. It therefore needed a technology solution to underpin activity in this new business and support administration and accounting for loans and trades. Following a comprehensive review, the company selected Misys Loan IQ for its integrated loan administration and accounting functionality. Misys Loan IQ’s Mark to Market calculations and built-in accounting sub-ledgers provides Countrywide with a powerful solution that can manage and administer its commercial mortgage business and allow for growth into other commercial mortgage products if required.