Chase signs for Fidelity mortgage servicing software
06 October 2006 | 5454 views | 0
JPMorgan's consumer and commercial banking unit Chase is implementing technology from Fidelity National Information Services to upgrade and replace its multiple legacy mortgage servicing platforms.
Fidelity says Chase will use its Mortgage Servicing Package to replace and upgrade multiple legacy software platforms over the next two years.
As well as servicing its own $600 billion loan portfolio, Chase provides servicing for third-party loans.
The US bank is upgrading systems to streamline business processes and provide faster rollout and better support for new products.
The updated system also will reduce costs, handle larger volumes and improve disaster recovery capability, saus Fidelity.
Scott Powell, EVP, Chase, says: "We continue to invest in our core mortgage business to improve loan servicing for both customers and other mortgage originators."