Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Freedom Mortgage Corporation, a Mount Laurel, N.J.-based residential mortgage lender, has selected the LoanServ(TM) platform to expand its in-house mortgage servicing capabilities and enhance the customer experience.
Freedom Mortgage will convert its existing loan servicing portfolio to LoanServ to offer real-time servicing, and deploy the LoanLink self-service web portal to enable its borrower customers to access and update their loan information online.
LoanServ from Fiserv provides Freedom Mortgage with the scalability and functionality to achieve greater processing effectiveness, minimize risk, manage client expectations and grow its mortgage business. It will enable the company to service its mortgage loans in-house and acquire new portfolios at a more rapid pace.
"In Fiserv, we found a technology partner with the services and products that meets our needs," said Carla Wise, executive vice president at Freedom Mortgage. "The LoanServ and LoanLink solutions will help us achieve our growth goals, while delivering exceptional service and a high level of customer satisfaction."
LoanServ will handle all point-in-time and real-time reporting with flexible fee structures and payment options based on how borrowers manage their mortgage payments. Freedom Mortgage can implement automated loan boarding for processing single or bulk transactions, and use the integrated platform for loan servicing processes, payment collections and default management.
"Freedom Mortgage has a nationwide presence as a full-service lender that delivers outstanding customer service," said Kevin Collins, president, Lending Solutions, Fiserv. "Our LoanServ and LoanLink solutions will provide Freedom Mortgage with the robust in-house servicing technology needed to support its goals of becoming a national leader in the mortgage arena."
LoanLink is one of the newest LoanServ options, and allows clients to quickly roll out self-service websites that pull account information directly from the LoanServ system in real-time and enable consumers to access their accounts with 24/7 convenience.
LoanServ is an integrated solution that consolidates support for all retail loan products on a single platform, including mortgages, home equity loans and lines of credit, personal loans and lines of credit, closed-end and revolving installment loans and indirect financing. It integrates all loan servicing processes and automates payment processing, collections, default management, cashiering, escrow, and investor accounting.
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