HomeStreet Bank bolsters CRE portfolio with new servicing platform

HomeStreet Bank has partnered with SS&C Technologies to support the expansion of its commercial real estate and multifamily business.

The Seattle-based commercial real estate and multifamily lender selected the SS&C Precision LM, a cloud-based database application, to use as the automated loan-servicing platform for its commercial real estate portfolio. Precision LM also enables HomeStreet to provide its borrowers access to a branded and secure web-based portal for interactive self-service.

“HomeStreet is committed to investing in technology that supports our growing commercial real estate and multifamily business,” said Troy Harper, executive vice president and chief information officer at HomeStreet Bank. “We wanted a platform that enabled our team to process work more efficiently and to utilize improved data maintenance and access management tools. Precision LM’s functionality and commitment to technology innovation are consistent with HomeStreet’s strategic direction.”

“We are excited to partner with HomeStreet Bank and provide their financial institution with access to innovative technologies and services to help automate and optimize their loan servicing operations,” said Stan Szczepanik, managing director at SS&C Technologies. “We are seeing growing demand for Precision LM’s technology and expertise among banks, including those with significant agency/multifamily portfolios.”