Ohio-based Huntington National Bank is installing Fiserv's UniFi PRO Mortgage eX loan origination and processing platform to automate lending processes at its mortage subsidiary.
Fiserv says the platform's configurable product and pricing engine will enable Huntington to automate pricing processes that currently require human intervention and manual data entry. In addition, workflow engines and auto-task managers can help lenders develop automated, end-to-end mortgage business processes.
John DiDonato, VP and manager of IT services for Huntington, says lending is still a paper-intensive and manual process through processing and closing: "The strength of UniFi PRO Mortgage eX is in its ability to automate tasks that typically require intervention, giving us the opportunity to streamline our business and gain process efficiencies."
Huntington can also use UniFi PRO Mortgage eX to accurately route and track loan files when action is required by a loan processor.
The bank says the Fiserv system will also help its mortgage business quickly adapt to a purchase-mortgage-based lending marketplace.