Massachusetts Housing Finance Agency Selects LoanServ from Fiserv to Perform All Aspects of Residential Mortgage Servicing
Fiserv, Inc. (NASDAQ:FISV) , a leading global provider of financial services technology solutions, announced today that the Massachusetts Housing Finance Agency has selected its LoanServTM platform to perform all aspects of residential mortgage servicing including new loan boarding, business-to-consumer and business-to-business web-based applications, and the disposition of real estate-owned properties.
The Massachusetts Housing Finance Agency (MassHousing) is an independent public authority that provides financing for the construction and preservation of affordable rental housing, and for affordable first and second mortgages for homebuyers and homeowners in Massachusetts.
“Switching to LoanServ is going to help us deliver on our mission to increase affordable housing options for Massachusetts residents by improving the speed and efficiency of closing, managing and servicing our loans, while minimizing the risk,” said Kevin Mello, director of HomeOwnership Servicing & Operations, MassHousing.
LoanServ from Fiserv is an online real-time loan management system that supports every aspect of a customer relationship and provides valuable insights and consolidated views of customer needs and credit-worthiness to help grow customer relationships. In addition, simplified reporting and regulatory compliance efforts make it easy to satisfy governance policies, while also providing risk analysis and added protection against defaults. The software helps increase staff productivity with process automation and enables servicers to more effectively manage operations because all critical information about each loan is in a central database.
“MassHousing’s selection of LoanServ demonstrates the diverse capabilities of the lending solutions Fiserv has to offer, including the flexibility required by government agencies in their role as stewards of public funds,” said Kevin Collins, president, Lending Solutions, Fiserv. “Quick access to loan information means greater transparency and more streamlined reporting, something that is critical to the GSEs and private investors.”
“Fiserv is proud to assist MassHousing with their loan servicing modernization and to be a part of providing the people of Massachusetts affordable lending,” said Ray Kalyustan, senior vice president, Government Solutions, Fiserv. “Our goal is to ensure that all who interact with the LoanServ solution will have a consistent, easy-to-access and satisfying experience.”
LoanServ from Fiserv 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, and the rule-based workflow tools of LoanServ let users define processes according to their own business needs.
- LoanServ from Fiserv – https://www.fiserv.com/processing-services/lending-solutions/loanserv.aspx
- The Massachusetts Housing Finance Agency – https://www.masshousing.com/portal/server.pt/community/home/217/home
About Massachusetts Housing Finance Agency
Massachusetts Housing Finance Agency is a self-supporting not-for-profit public agency. It has provided more than $17 billion in financing for homebuyers and homeowners, and for developers and owners of affordable rental housing. MassHousing does not use taxpayer dollars, but sells bonds to fund its programs. In recent years, MassHousing has also supported the Commonwealth of Massachusetts by contributing funds to offset budget cuts to state housing programs.
This year, Fiserv, Inc. (NASDAQ:FISV) celebrates 30 years of leadership in financial services technology. As one of FORTUNE(R) magazine’s World’s Most Admired Companies, Fiserv is helping clients worldwide achieve best-in-class results by driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more information, visit www.fiserv.com.
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