Fort Worth, Texas-based mortgage lender Colonial Savings F.A. has selected the LoanServ platform from Fiserv Inc., a provider of financial services technology solutions.
According to Fiserv, Colonial Savings will convert its existing loan servicing portfolio to LoanServ – including the deployment of the LoanLink feature, a self-service Web portal that enables borrowers to access and update their loan information in real time.
Fiserv says the platform will help Colonial Savings adapt to operational and marketplace changes. The platform will also help provide issue tracking and workflow capabilities to enable Colonial Savings to manage client expectations and response times more efficiently, according to Fiserv.
Fiserv adds that the platform will allow Colonial Savings to implement automated loan boarding for processing single or bulk transactions and will handle all point-in-time and real-time reporting with flexible fee structures and payment options based on how borrowers manage their mortgage payments. Colonial Savings will also be able to better manage its escrow requirements and reporting, including support for defaulted loans, says Fiserv.