Fiserv Enhances Loan Servicing Platform

Brookfield, Wisconsin-based ""Fiserv, Inc."":http://www.fiserv.com/, a global provider of financial services technology solutions, recently announced enhanced investor capabilities for its Loan Servicing Platform.

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The Loan Servicing Platform is an example of the Fiserv core competency in processing services and provides immediate access to borrower information, account transactions, and investor data that is critical to lending institutions.

The new technology allows users to have real-time access to the cash position as it relates to their investor portfolio. The company said the Loan Servicing Platform investor rules offer flexible, user-defined decisioning and the ability to quickly implement change across the servicing enterprise. And since the rules are stored centrally, all of the information required to invoke them is located entirely within the system.

""Our integrated, rule-enabled investor accounting functionality not only improves business controls and efficiencies but also provides greater control over a lender's investor relationships,"" said Norwood Sloan, assistant VP of the mortgage product line at Fiserv. ""Tools within the software let servicers create unique investor profiles that ensure guidelines are followed for every loan product across the portfolio.""

Unlike a traditional rules engine, Fiserv's process allows lenders to manage the rules based on specific business needs, Sloan said. The company has replaced the typical, day-old data generated by legacy batch systems with investor accounting functionality. This data is much more flexible because it is available in real time. Sloan said this reduces the time it takes to define and run reports and makes it easier to construct planning scenarios.

San Francisco-based ""Bank of the West"":https://www.bankofthewest.com/, with $60 billion in assets, is already using the new investor capabilities on Fiserv's Loan Servicing Platform.

""The online, real-time investor services from Fiserv allow us to see our portfolio positions at any time, without having to wait for overnight data updates,"" said Sharon Parrish, senior business systems analyst for Bank of the West. ""As a result, we can maintain complete control over investor accounting and reporting and have been able to implement a more efficient and lower cost means to create, modify, and add new business processes.""