Fiserv Inc., a provider of financial services technology solutions, has enhanced its LoanComplete Comparalytics solution to fully enable document-to-document data comparisons, regardless of document type.
The LoanComplete Comparalytics module, one of four modules within the LoanComplete automation suite, works with existing data sources to identify and flag data mismatches between transferee and transferor servicing systems, documents, data sources and original documents.
Within the LoanComplete Comparalytics platform, primary documents can be designated as the main data source for comparison to other secondary documents in the same loan file. The document-to-document comparison feature ensures the quality and consistency of the loan file data by identifying and addressing errors when the servicing file is created.
The company says this update will reduce mortgage servicing transfer and regulatory risks while improving overall quality.
‘Managing transfer and regulatory risks is top of mind to today's mortgage loan servicers,’ says Gregg Lehman, senior product manager of Fiserv's financial and risk management solutions. ‘The updated Comparalytics module within LoanComplete helps servicers ensure that the highest level of due diligence has been completed regarding data comparison.’