American Equity Selects SS&C as Strategic Loan Servicing Partner

Precision LM will manage a $5.4B commercial, agricultural and residential real estate portfolio

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Nov 08, 2021, 09:10 ET

WINDSOR, Conn., Nov. 8, 2021 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that American Equity Investment Life Holding Company ("American Equity") (NYSE: AEL) will migrate its $5.4 billion commercial, agricultural and residential mortgage loan portfolio to Precision LM™. SS&C's loan management solution will automate loan servicing, operations and regulatory reporting for the Des Moines, Iowa, insurer.

"We were looking for a system to optimize loan management operation," said Kyle Miller, V.P., Head of Investment Operations at American Equity Investment Life Holdings. "Working with a world-class partner like SS&C will allow us to streamline the full loan cycle, simplifying reporting, document management and collaboration. Additionally, we were impressed with the flexibility of the system, as we needed to support a broad range of complex loans."

Precision LM will support multiple loan types for American Equity, including 800 commercial mortgages and more than 2,000 residential loans. Further, the platform integrates with SS&C's eCorrespondent platform to improve document collection and collaboration with American Equity's multiple third-party correspondent loan servicers.

"We are pleased to partner with American Equity's lending business as it grows," said Stan Szczepanik, Vice President, SS&C Technologies. "We deliver consolidated and streamlined loan processing, reporting flexibility, and better integration to downstream systems, so our clients like American Equity can focus on growing their business. In addition, we have built strong capabilities to elevate the digital user experience for both borrowers and lenders on a single platform."

There are more than 100 bank and non-bank lenders and servicers using Precision LM to support their lending operations. Learn more about Precision LM here.

About American Equity

American Equity Investment Life Holding Company, through its wholly-owned subsidiaries, is a leading issuer of fixed index annuities through independent agents, banks and broker-dealers. American Equity Investment Life Holding Company, a New York Stock Exchange listed company (NYSE: AEL), is headquartered in West Des Moines, Iowa. For more information, please visit www.american-equity.com

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale, and technology.

Additional information about SS&C (Nasdaq:SSNC) is available at www.ssctech.com.

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SOURCE SS&C