Fiserv Integrates Origination, Servicing Technology

Fiserv has integrated its Common Origination Platform and LoanServ systems to provide real-time, full-circle loan boarding processes for mortgage, home equity lines of credit and installment loans. The integration improves efficiency for all users by sharing data points and eliminating potential errors caused by manual data entry.

Companies which use both platforms will get a consolidated view of each customer as well as a single view of risk for their loan portfolios. The integration eliminates duplication within processes and the business management of the systems.

In other technology news, Capsilon, a provider of cloud-based document sharing, imaging and document management solutions for mortgage lenders, said it has merged its Katalyst and DocVelocity imaging systems into a combined offering, which will retain the DocVelocity brand.

Until recently, the Katalyst and DocVelocity services were sold to different segments of the mortgage banking market.

Capsilon had developed most of the DocVelocity technology with that system’s prior owner, Flagstar. Flagstar sold DocVelocity to Capsilon in February.

Specialized Business Software, a provider of custom software solutions for insurance, mortgage and financial services companies, launched its Web-based X12 EDI Translator to enable mortgage servicers and insurance tracking companies to translate insurance policies from the X12 format into a more readable form and eliminate the added expense and time needed to develop and maintain an internal electronic data interchange system.

The new solution translates X12 data and sends it to the insurance tracking system regardless of the X12 version used. This eliminates the traditional requirement of multiple custom import rules for the different insurance trading partners before users can stop manually entering paper documents into the system.

“Our X12 solution enables servicers and trackers to process X12 insurance data faster and more efficiently while ensuring greater accuracy, which reduces time and risk for the institution,” said Steve Wiser, president of Specialized Business Software. “There is no programming needed or any software to install; clients can start receiving insurance policy data electronically immediately.”

Mortgage Guaranty Insurance Corp.’s newest loan origination system interface is with Integra Software Systems and its Destiny and DestinyXpress solutions.

Now users of these systems can order MGIC rate quotes, check eligibility and order private mortgage insurance without leaving the platform.