BROOKFIELD, Wis., Sep 18, 2006 (BUSINESS WIRE) -- Fiserv Lending Solutions, part of Fiserv Inc. (Nasdaq:FISV), announced today that it is partnering with Proctor Financial Inc. to share secure access to the MortgageServ loan servicing system for the purpose of updating hazard insurance data. The result is a RESPA-compliant and comprehensive hazard insurance update.

Proctor's partnership with MortgageServ eliminates the pitfalls associated with traditional hazard- tracking programs that rely on batch updates and interfaces for data transfer. With real-time "interfaceless(TM)" Direct Data Input(R) (DDI) into the MortgageServ system, time delays, rejects and exceptions are eliminated because there are no downloads to cause transfer problems.

Financial institution clients grant secure access to loan servicing data housed on the MortgageServ service bureau to Proctor as they would for a hazard insurance processor within their own enterprise. In accordance with the business rules stipulated by the MortgageServ client, Proctor is given specific rights to log directly onto MortgageServ to access the insurance hazard screen, global notes and global letters to provide insurance updates for the purposes of updating insurance information.

"We are highly pleased with this next important step, further cementing our long-standing valued partnership with Fiserv," said Karen Schickel, SVP of mortgage services for Proctor Financial Inc. "This collaboration expedites the processing and updating of insurance policy information for our loan servicing clients."

Through DDI, all data is entered directly into the servicing system. No special programming or interfaces for MortgageServ service bureau clients are necessary. Proctor's MortgageServ Conversion Action Plan(TM) facilitates implementation within 72 incremental hours, eliminating the weeks that would otherwise be required to configure interfaces.

Sharron Fuller, vice president of customer service for Bank of Oklahoma Mortgage, recently experienced the simplicity of conversion to the DDI process. "Even though we have converted recently, we are already benefiting from the partnership," said Fuller. "We experienced continual problems with our previous outsourcing vendor, such as keeping the two systems in sync, interface issues, turnover, lack of follow-up and quality control issues. Utilizing DDI has already alleviated what had become day-to-day problems requiring our resources to resolve."

Working on one system for all hazard insurance tracking information allows for a seamless and efficient experience for system users and borrowers. Through DDI, MortgageServ remains the system of record, in contrast to other outsourcing programs that run parallel tracking systems and maintain control of borrowers' insurance data. There are also no external disaster recovery concerns since the MortgageServ subscriber's recovery program is sufficient.

"The DDI process was developed as a result of extensive interaction with MortgageServ clients," said Janet Bennett, senior vice president of MortgageServ client support. "Fiserv and Proctor have created value for mortgage servicers by reengineering the process and preventing insurance processing defects or delays. The end result is that DDI implementation has been proven to save servicers both time and money."

About Proctor Financial Inc.

Proctor Financial Inc. is a wholly owned subsidiary of Brown & Brown Inc., ranked as the seventh largest independent insurance intermediary in the United States. Brown & Brown is a $3 billion capitalized New York Stock Exchange company consistently recognized for its strong financial performance. With annualized revenues of approximately $20 million, Proctor provides specialty insurance products to more than 1,500 financial institutions. Founded in 1884, Proctor Financial was a pioneer in the development of lender-placed insurance products. The company serves clients across the country, including the U.S. government and a cross section of the top 100 and small to mid-sized mortgage servicers.

About MortgageServ and Fiserv Lending Solutions

MortgageServ is an offering of Fiserv Lending Solutions, a suite of products and services provided by Fiserv to mortgage and consumer lenders. Fiserv's comprehensive lending solution set includes mortgage and auto lead generation management, loan origination technology, customer loyalty programs, industry-leading automated valuation model products, auto leasing solutions, settlement services and default management.

About Fiserv Inc.

Fiserv Inc. (Nasdaq:FISV), a Fortune 500 company, provides information management systems and services to the financial and health benefits industries. Leading services include transaction processing, outsourcing, business process outsourcing, software and systems solutions. The company serves more than 17,000 clients worldwide and is the leading provider of core processing solutions for U.S. credit unions, banks and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2005 and 2004 FinTech 100 surveys. Fiserv Health provides health plan management, pharmacy benefits management, and BPO services to the managed care market and self-funded commercial and government employers and health plans. Headquartered in Brookfield, Wis., Fiserv reported more than $4 billion in total revenue for 2005. For more information, please visit www.fiserv.com.

SOURCE: Fiserv Inc.

MortgageServ               
Kathleen Mikula, 574-245-1562 
or            
Fiserv Inc.                      
Mike Muckian, 262-879-5667

Copyright Business Wire 2006

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