Century Health & Housing Capital Automates Ginnie Mae Reporting with SS&C

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Feb 14, 2023, 09:00 ET

Licensed Ginnie Mae issuer/servicer implements SS&C Precision LM loan servicing software in 90 days

WINDSOR, Conn., Feb. 14, 2023 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Century Health & Housing Capital, LLC ("Century"), a leading provider of government-insured Federal Housing Administration (FHA) mortgage financing, has successfully implemented SS&C Precision LM™. Century is a majority-owned subsidiary of Velocity Financial, Inc. (NYSE: VEL)

"We were impressed by the technology as well as the level of experience and Ginnie Mae reporting expertise from SS&C's team," said Kyle Perry, CEO of Century.

SS&C Precision LM automates many mission-critical servicing functions, including new loan onboarding, running amortization schedules, setting up escrow and reserve accounts, escrow analysis and generating monthly invoices. Century will use Precision LM to support its in-house servicing requirements for Ginnie Mae, including RFS (Reporting and Feedback System) reporting, P&I and T&I reconciliation, and mortgage collateral reconciliation to outstanding securities.

"We were looking for a cloud-based, zero-footprint solution that seamlessly integrates with our other virtual systems through APIs. Precision LM delivered a perfect solution," added Mark R. Szczepaniak, Chief Financial Officer of Velocity Financial, Inc.

"At SS&C, we excel at service delivery and are pleased to complete Century's go-live implementation on time," said Stan Szczepanik, Vice President at SS&C Technologies. "SS&C remains focused on the Agency/Multifamily lending space and our talented team of software developers continues to adapt quickly to client and market requirements."

About Century

Century Health & Housing Capital, LLC (www.chcap.com) is an approved HUD lender that provides FHA-insured financing to multifamily developers and residential healthcare owners/operators who aim to create better housing options in their communities.

Since 1992, Century Health & Housing Capital has provided over $2.3 billion in FHA-insured, GNMA-collateralized financings for market-rate multifamily, affordable housing, residential healthcare, and hospital projects.

Century Health & Housing Capital is a majority owned subsidiary of Velocity Financial, Inc. (NYSE: VEL), a leader in providing financing solutions for residential 1-4 investment and small commercial properties, with an 18-year history of exceptional service and strong financial performance.

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 20,000 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.

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SS&C (Nasdaq:SSNC) is available at www.ssctech.com.
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SOURCE SS&C