What is an API?
API stands for “Application Programming Interface” and are mechanisms that enable two software components to communicate with each other using a set of definitions and protocols.
Interface can be thought of as a contract of service between two applications and this contract defines how the two communicate with each other using requests and responses.
FCI API
FCI Lender Services has introduced a proprietary API (Application Programming Interface) service for no charge to all their loan servicing customers. For no additional cost, FCI’s customers can now connect their loan management software to FCI’s system to directly PULL and PUSH information between FCI’s live database to their own existing databases or internal CRM (Customer Relationship Manger) programs to generate customized reports.
FCI API Pull
The PULL API allows each customer to request specific and individualized data from FCI to be inputted directly into their system. FCI’s PUSH and PULL features allow customers 24 hours per day tobypass logging into their website, emailing, or calling FCI for updates in order to gather loan information like loan origination data or loan charges.
By using FCI’s API technology to input and update the data directly into or from FCI’s system for seamless integration, customers canenhance their timelines and experiences by using FCI’s state of the art technology and services.
FCI API PULL capability allows the pulling of specific information into a specific report or database that the customer desires. For example, if a report tracks return on investment and the information is tracked on a Microsoft Excel spreadsheet, rather than tediously manually updating each field, the API can be utilized to automatically update fields like Unpaid Principle Balance.
FCI provides free Excel API templates that allow customers to pull all the desired loaninformation from FCI’s system at the press of a button, while keeping the desired report format.
FCI API Push
FCI API PUSH capability works similarly to the PULL feature, but allows the lender to push information from their databases and reports into FCI’s system. For example, when boarding a new loan the PUSH API could be used as part of the Loan Origination Software and sent directly to FCI to seamlessly begin the boarding process.
In the instance where loan charges are incurred by the consumer, rather than manually emailing individual charges to FCI, customers can press a button in the system to automatically send the new charge for FCI to review and
attach to the lender’s note.
Further, when FCI is in need of certain documents for boarding or other servicing matters, customers can directly send this information via the PUSH API to immediately be attached and applied to the note.
Innovating…
FCI’s PUSH and PULL API features change the way both FCI and customers efficiency and effectively conduct business due to the focus and emphasis on connectivity. Because of FCI’s API capabilities, for the first time lenders can connect directly to their loan servicer and gain access to their note information like never before.
To begin accessing and operating FCI’s API alongside your preferred tracking software, log on to the Lender Portal on myfci.com. All of the API information, templates, tutorial videos, and description of product features are on the bottom left of the screen.
The API is simply one of the direct connect features that FCI offers alongside OCR (Optical Character Recognition) technology that can be applied to any type of note such as non-qualified (Non-QM) mortgages to streamline and enhance your capabilities to track and manage your portfolio.
By allowing nationally and top-rated-by-Fitch FCI to service your loans and by using state of the art features like the API, you gain the FCI Advantage designed to enhance customers timelines and experiences.
