CRE Accounting & Servicing systems aren’t typically associated with innovation… but the experienced team at Rockport has been developing increasingly sophisticated, accurate, and intuitive technology for CRE financing for decades.
ACT, our advanced Accounting & Servicing platform, offers support for the full cycle of commercial mortgage loans, including 6 Basis' (GAAP, STAT, IFRS, TAX, MGMT, PGAAP), general ledger interfaces, and much more. It’s backed with a full audit trail and has the ability to handle any complex data structure: multi-note, unlimited investors, matrix pricing, and others.
In this video, Joe Daddario, Len Landi, and Pam Nolan offer an overview of Rockport ACT, and its distinct value proposition. With almost a century of combined experience in the Commercial Real Estate world, these three longstanding Rockport executives have a deep understanding of the challenges and frustrations faced by Lenders and institutions, and how ACT exists to solve them. They answer some foundational questions about what ACT is, how it handles the loan process, how it integrates seamlessly with Rockport CORE, and why you should consider implementing it in your firm.
Find out more at www.therockportgroup.com/product/rockport-act. Our friendly customer service team would love to answer any questions you might have, or set up a demonstration.
I'm Joe Daddario. I'm one of the partners of Rockport for Rockport products that are ACT and AG. I've been in this industry for over forty-five years. I'm Pam Dolan, and I have known and been in this industry for about probably thirty-five, isn't it? And you're the architect of the product. Okay, that's what I am. I'm Len Landi. I am also one of the partners at Rockport Solutions. As my colleague said, we've been in the business for quite some time. I have known and worked either directly or indirectly with these two for about twenty-five years.
All of it in the software business, software industry. They are my partners for life. Rockport ACT is an accounting and servicing system for commercial mortgage loans. And we do everything from inception to conclusion of a life cycle for a loan. We are the system of record. So, we're feeding the corporate general ledger at our clients, and those numbers better be right, and so accuracy is a very important factor. So, we handle payment processing, we handle onboarding, we handle all the activities that go with servicing of the collateral information in the background.
We handle loans from inception to disposition and the entire life cycle, whatever that might entail. How we handle it is a variety of different ways, and it depends on the client, really. Some of our smaller clients really are hands-on, where they'll do just about everything in the system manually. They'll go in and physically knuckle everything in from an origination to a funding, all the payments, all that. But then you have the larger ones where we have APIs with Salesforce, where we have automated payment processing, automated flow of information at the very inception of a loan.
So, it all depends on the client of how loans are processed in the system. You go from very manual process to a fully automated process. Rockport ACT is known to be very accurate with its accounting numbers, which is really the gospel of the system. Our goal is to make our clients' life easier on a day-to-day basis, making them be able to process their daily work, make sure that it's accurate, just help them make sure that their numbers stay in line to where they're supposed to be.
It's not just the product. It's the experience and the knowledge that goes behind it with the people who work at Rockport Solutions. Everyone there has almost as much experience as we have. Even our developers know the business. So, we are very up to date on what's happening in the industry. We keep up with our clients. We stay on top of the information that the industry regulators are providing. We attend the meetings that have that are relevant to the mortgage industry so that when we have to develop software and output from the system that we'll meet the requirements that they need.
A client of ours, or mutual client, they would typically have to go to separate vendors to get the solutions we provide. Here with the Rockport Group, they've got end-to-end functionality and processing. They don't have to deal with separate groups, they don't have to say “Okay, well, for this issue, I have to go find this vendor. For this issue, I have to go find this vendor”. But with the Rockport group, it's all one-stop.