Fiserv clients can update attorney communications via a new Loan Servicing Platform interface with the ISGN LenStar default attorney communication network. The interface expands even further the comprehensive default management tools offered by the Loan Servicing Platform from Fiserv.
The interface is designed to integrate loan-related data and legal-action milestones into the default management workflow within the Loan Servicing Platform, enabling Fiserv clients to work with attorneys and trustees of their choice once the provider subscribes to theLenStar network. This gives both servicer and attorney the ability to communicate electronically, submit responses automatically and easily track orders and timelines.
Communicating via the LenStar software streamlines the workflow between servicers and default attorneys. Loan servicers are experiencing growing default volumes and need every tool at their disposal to manage those loans quickly and efficiently, says Thomas Gorman, president, Loan Servicing Solutions, Fiserv. This interface allows our clients to have more efficient access to their legal counsel while opening new communication channels and freeing up more time to work on solutions with borrowers who have entered this phase.
Fiserv clients can access LenStar directly from within the Fiserv loan servicing software, and via the click of the mouse, will literally be able to generate a request for service that will be routed automatically to the appropriate service providers system, says Niraj Patel,group president, ISGN. Once the service has been performed, the data is automatically populated into the Loan Servicing Platform, eliminating many manual processes such as faxing orders, re-keying data, and logging into multiple vendor web sites.
The Loan Servicing Platform from Fiserv is an example of the companys processing services core competency and delivers single-platform loan servicing by combining mortgage, line-of-credit and distressed loan support into one system.
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