SS&C Technologies, a provider of financial software and software-enabled services, reports that it has established a real estate investment trust (REIT) servicing group.
Noting its more than a decade of experience in mortgage REIT accounting and reporting, SS&C officials say the new group’s focus is on the expanding area of residential mortgage-backed securities and commercial mortgage-backed securities.
“Mortgage REITs have traditionally struggled to manage accounting and reporting and often rely on manual processes,” Josh Brown, senior director of technical accounting and REIT solutions at SS&C Technologies, says in a company statement, adding that the new group will “help Mortgage REITS be better equipped to produce fully auditable accounting and reporting processes and eliminate the use of spreadsheets.”
“We’re establishing processes and controls around the accounting for complex structured instruments, collateral management, GAAP [Generally Accepted Accounting Principles] compliance, REIT compliance and SEC disclosures to ensure that [customers] have the tools needed to succeed,” Timothy Reilly, senior vice president and general manager, SS&C Institutional Services division, adds.
SS&C’s REIT servicing offering includes operational assessments, audit capabilities, fixed income and trading, collateral management and mortgage-backed-securities portfolio management, and accounting and reporting, according to the company.
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