Hypo Real Estate Capital Corporation (Hypo) in the US has selected Fidelity Information Services' Deal and Loan Servicing (DLS) software to support the expansion of its commercial real estate lending portfolio.
The DLS software is part of Fidelity's Advanced Commercial Banking System (ACBS), an integrated package of products that automate commercial lending processes, from deal origination through settlement and accounting to risk management and loan trading.
New York-based Hypo is a spin-off of HVB Group's commercial real estate financing business which has used the ACBS package since 1996. Stephen Altman, managing director of HVB Group, says the Fidelity system offers Hypo a familiar software environment, without the risks and costs of introducing a new platform.
Hypo will use the software to service its newly originated commercial real estate transactions and the former Hypo und Vereinsbank real estate portfolio.
Altman adds: "The ACBS Deal and Loan Servicing software delivers comprehensive, end-to-end support for complex syndicated lending transactions."