TPG Software, Inc. a leading provider of financial accounting software and services, today announced that Capstead Mortgage Corporation has selected TPG's complete suite of financial accounting software, including trade capture, investment and derivatives accounting modules.
"Capstead earns income from managing a leveraged portfolio of agency-guaranteed residential mortgage pass-through securities and was looking for a technology solution that could handle the complexities of this business model," said Mike Brown, Senior Vice President and Treasurer of Capstead. "While we wanted to improve the functionality of our core system, we were keenly aware of the record keeping requirements for our investment portfolio, including related borrowing and derivative activities. Accordingly, we wanted a vendor with extensive experience in designing systems for mortgage backed securities with a strong accounting background. We found that TPG met both requirements."
"We are very pleased to add Capstead to our growing list of REIT clients. TPG offers the functionality for accounting, managing risk, and reporting that are critical for real estate investment trusts," said Cory Sokoloski, Vice President of TPG Software.
Capstead Mortgage Corporation operates as a real estate investment trust, earning income from managing a leveraged portfolio of primarily adjustable-rate and agency-guaranteed residential mortgage pass-through securities. Capstead, headquartered in Dallas, Texas, was formed in 1985 and is publicly traded on the New York Stock Exchange under the ticker symbol CMO.