Princeton Financial to distribute Rockport System
09 July 2007 | 1863 views | 0
Source: Princeton Financial Systems
Princeton Financial Systems, a leading provider of portfolio accounting solutions for global institutional investors, and The Rockport Group, a leading provider of software and services for the commercial real estate industry, have entered into a strategic alliance.
Through this partnership, Princeton Financial Systems will offer THE ROCKPORT SYSTEM to complement its PAM for Mortgages system. The Rockport System is a fully web-accessed Commercial Real Estate Loan Origination, Credit and Risk Management Platform, which provides a full set of Pipeline, Underwriting, Securitization, Portfolio Management, B Piece Buying and Reporting Tools to commercial mortgage lenders, buyers, and asset managers.
Through an interface to PAM, users of the PAM for Mortgages system will now benefit from robust features of THE ROCKPORT SYSTEM. Rockport's database, which is over 4,000 fields strong, takes new and purchased loans (A, B, C, etc.) from initial quote/purchase through exit strategy (i.e., securitization, portfolio, CDO - as well as ongoing surveillance), and provides sophisticated reporting and analysis tools at the portfolio, loan, property and borrower/sponsor levels. The system provides a downloadable Excel underwriting model, with a highly sophisticated reporting platform. The value proposition of the system is that it combines the power of a relational database with the flexibility of Excel.
"The basis of this alliance is a win-win scenario in which Princeton Financial and THE ROCKPORT GROUP together strengthen their product offerings, while providing our customers the benefits of a proven front office origination and portfolio risk system," said Joseph Daddario, Senior Managing Director, Strategic Solutions and Real Estate for Princeton, "Our successful track record, coupled with our commitment to the industry, has motivated our two companies to commit to this partnership."
"I have always had great respect for Princeton Financial and its products, which, like Rockport, provides best in class service. Our strategic partnership provides an end to end software solution which will give our mutual clients a competitive edge," said William Trepp, Managing Director at Rockport.