In an announcement Thursday, ""Fiserv, Inc."":http://www.fiserv.com/, a global provider of financial services technology solutions, said its clients can now update attorney communications via a new Loan Servicing Platform interface with the LenStar default attorney communications network offered by ""ISGN"":http://www.isgn.com/company/company.htm, a provider of mortgage technology and services.[IMAGE]
""Loan servicers are experiencing growing default volumes and need every tool at their disposal to manage those loans quickly and efficiently,"" said Thomas Gorman, president of Fiserv. ""This interface allows our clients to have more efficient access to their legal counsel while opening new communication channels and freeing up more time to work on solutions with borrowers who have entered this phase.""
This new loan interface further expands the comprehensive default management tools offered by the Loan Servicing Platform from Fiserv. It is designed to integrate loan-related data and legal action milestones into the default management workflow within the Loan Servicing Platform, which enables Fiserv clients to work with attorneys and trustees of their choice once the provider subscribed to the LenStar network.
""Fiserv clients can access LenStar directly from within the Fiserv loan servicing software, and via the click of the mouse, will literally be able to generate a request for service that will be routed automatically to the appropriate service provider's system,"" said Niraj Patel, group president of ISGN. ""Once the service has been performed, the data is automatically populated into the Loan Servicing Platform, eliminating many manual processes such as faxing orders, re-keying data, and logging into multiple vendor web sites.""
Communicating through the LenStar software streamlines the workflow between servicers and default attorneys. Both servicers and attorneys are given the ability to communicate electronically, submit responses automatically, and easily track orders and timelines. By delivering single-platform loan servicing combining mortgage, line-of-credit, and distressed loan support into on system, Fiserv said its Loan Servicing Platform is an example of the company's processing services core competency.