Fiserv prepares for mortgage industry consolidation

Fiserv prepares for mortgage industry consolidation

Fiserv has released the results of a benchmarking test of its MortgageServ loan servicing system verifying a processing capacity of in excess of 3 million mortgage loans.

The results are based on testing conducted by IBM Capacity Planning Services (IBM/CP) in Raleigh, North Carolina, during a nightly window using one copy of the system, on a single platform. The test data were collected from actual servicing system production cycles. The collected data were processed by the IBM/CP facility in Raleigh to create both end-of-month and end-of-day test models.

"The results of the benchmark testing reflect the architectural investments that have been made to empower MortgageServ to meet the capacity and volume absorption needs of mega-servicers," says Sadu Thinakal, president of Fiserv Mortgage Servicing Systems. "With industry trends pointing to consolidation, Fiserv has built the MortgageServ total solution to be fully scalable."

The architecture and middleware of the Fiserv system now incorporates volume segmentation (common in other massive processing systems, such as credit card), online processing of lockbox and other batch files. The MortgageServ system is able to process the needed nightly work for 3 million+ loans, even for end-of-month, in a normal nightly processing window, boasts Thinakal.

Fiserv customer Fleet Mortgage Group had representatives onsite at IBM during the tests. Bob Rosen, executive vice president of Fleet Mortgage Group, says: "Our strategic planning mandates this magnitude of scalability. We are currently running 1.5 million loans on MortgageServ and intend to increase our volume geometrically. As a servicer, we need to count on our technology provider to handle our volume/capacity and integrated technology needs well into the future."

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