Fiserv’s LoanServ Gets Improved Loss Mitigation, Loan Boarding Capabilities

Posted by Patrick Barnard on March 31, 2017 No Comments
Categories : Residential Mortgage

Fiserv Inc. reports that it has made numerous enhancements to its LoanServ mortgage servicing platform in recent months, including the introduction of Loan Boarding, a new solution that reduces the time it takes to acquire performing and defaulted loans from days to minutes.

Other improvements include improved loss mitigation management and adherence to Fannie Mae investor reporting requirements.

Loan Boarding helping servicers grow their portfolios quickly and efficiently, therefore, improving the ability of servicers to bid on a portfolio they must board rapidly, the company says in a release.

Aging technology, spread across disparate lending verticals, is driving up the cost of servicing,” says Bret Leech, president, lending solutions, for Fiserv. “Add to that market pressures and regulatory requirements and growth can be a real challenge for servicers. Our continued investment in LoanServ results in fewer operational limitations, which manages cost and enables growth for our clients while providing a better borrower experience.”

The system now sport improved default management capabilities that Fiserv says will enhance communication with attorneys, including secure document exchanges, plus loss mitigation decision-making that streamlines processes to reduce risk.

In February, LoanServ rolled out the Fannie Mae investor reporting requirements for all clients. The adaptive rules engine for investor management in LoanServ allowed the changes to be made quickly, the company reports.

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