US-based National Mortgage Insurance Corporation (National MI) has completed systems integration with Fiserv’s LoanServ platform to streamline data transfer and to enhance operational efficiency.
The platform will assist lenders, banks, aggregators and credit unions in carrying out mortgage servicing functions, including insurance coverage activation, billing transactions and certificate administration.
In addition, it will also automate all loan servicing processes, including integrated default management and collections, cashiering, escrow and investor accounting for both closed-end and revolving loans.
The platform will also simplify compliance risk and remove the limitations related to an end-of-day batch processing cycle by making data transactions online in real-time.
With LoanServ, data transactions are available online in real-time to ease compliance risk and eliminate the limitations associated with an end-of-day batch processing cycle.
Commenting on integration, National MI chief sales officer Pete Pannes said: "Our integration with LoanServ from Fiserv will enable National MI to support many of our customers’ servicing needs by making the process more convenient and straight-forward."
National MI started writing mortgage insurance in April 2013.