Fiserv Inc., a provider of information technology services to the financial industry, has expanded its Common Origination Platform (COP) to include real estate lending support.
COP, a solution to help lenders manage loan origination and production, allows lenders to administer all of their loans – real estate finance, consumer and commercial – holistically rather than in the traditional silos, which can reduce costs and improve efficiency.
The platform is available in multiple deployment models, including licensed versions and software as a service. The real estate module is the first of three available under the newly structured solution, with consumer and commercial modules planned to be deployed in 2009.
Fiserv's solution allows users to update policies, procedures and processes rather than relying on technical support staff. By automatically applying business rules across the organization, lenders will gain more control over the origination process, the company notes.
Additionally, enhanced workflow features automated loan processing with a dashboard-style interface. The platform also offers integration capabilities, providing seamless interaction with third-party service providers and other vendor partners.