Intelligent integration of the mortgage lifecycle enhances the
lending and borrowing experience
BROOKFIELD, Wis.--(BUSINESS WIRE)--Feb. 4, 2019--
Fiserv,
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, today announced a new approach to mortgage
technology designed to allow lenders to manage the complex mortgage
ecosystem from end-to-end. Mortgage MomentumSM is a
digital-focused approach that covers each stage of the mortgage
lifecycle from application through closing. With Mortgage MomentumSM,
lenders are able to improve loan quality, mitigate risk, and speed
approval and closing processes while reducing the cost of origination,
ultimately supporting a better experience for today’s demanding
borrowers.
Combined with workflow automation tools, Mortgage Momentum from Fiserv
streamlines and simplifies loan origination, and enables lenders to
leverage a wide range of prepackaged solutions to enhance the lending
experience. As these capabilities evolve, they will support greater
customization and simplification of the mortgage loan process through
existing digital channels.
The updated Mortgage Director loan origination system (LOS) and the new
OriginateSM Mortgages point-of-sale (POS) mobile enhanced
application are among the digital solutions from Fiserv that enable the
Mortgage Momentum approach.
“In an industry increasingly focused on speed and experiences, mortgage
lenders are challenged to deliver a more efficient lending process and a
compelling, differentiated borrower experience,” said Lionel Urban, vice
president, Product Management, Fiserv. “Automation of lending processes
improves efficiencies for lenders and speeds time to approval and close,
so customers can quickly receive the keys to their new home, refinance,
or obtain a home equity loan or line of credit.”
Recent research by Fiserv underscores the importance of digital
interactions as part of the overall lending experience.
According to the 2018 Expectations & Experiences: Borrowing and Wealth
Management consumer survey from Fiserv, among consumers who applied for
loans in the past two years, 56 percent completed at least part of the
loan process via online or mobile channels. Nearly four in 10 (38
percent) applied for at least one loan completely online or via mobile.
Digital interaction is more prevalent among millennials: 45 percent have
applied for a loan in the past two years, with 69 percent completing at
least part of the loan process via online or mobile channels while 48
percent completed the process entirely online.
Mortgage Momentum streamlines the five phases of a successful lending
program, which include:
- Attract: Positioning lenders to attract borrowers through an
intelligent, streamlined and intuitive mortgage process, enabling them
to compete with large online mortgage providers
- Approve: Leveraging digital expertise to verify loan
information and eliminate manual, inefficient workflow. Digital
underwriting systems are complemented with internal workflow to
mitigate lender risk
- Deliver: Providing an efficient, compliant and cost-effective
way to deliver complete loan packages electronically for loan boarding
and investor sales
- Optimize: Covering the secondary market through which financial
institutions are able to optimize their portfolios for increased
returns. Leveraging machine learning and artificial intelligence to
surface work necessary to support sound balance sheet practices
- Service: Covering the servicing and ultimate payoff of
mortgages that the lender chooses to hold in its portfolio. Nurturing
the relationship of the initial transaction to support long-term,
complex financial services needs
In a world moving faster than ever before, Fiserv helps clients deliver
solutions in step with the way people live and work today – financial
services at the speed of life. Learn more at fiserv.com.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and
deliver financial services experiences in step with the way people live
and work today. For 35 years, Fiserv has been a trusted leader in
financial services technology, helping clients achieve best-in-class
results by driving quality and innovation in payments, processing
services, risk and compliance, customer and channel management, and
insights and optimization. Fiserv is a member of the FORTUNE®
500 and has been named among the FORTUNE Magazine World's Most Admired
Companies® for six consecutive years, recognized for strength
of business model, people management, social responsibility and
innovation leadership. Visit fiserv.com
and follow
on social media for more information and the latest company news.
FISV-G
View source version on businesswire.com: https://www.businesswire.com/news/home/20190204005088/en/
Source: Fiserv, Inc.
Media Relations:
Mark Jelfs
PR Manager
Fiserv, Inc.
+1
262-879-5930
mark.jelfs@fiserv.com
Additional Contact:
Ann S. Cave
Director, Public
Relations
Fiserv, Inc.
+1 678-325-9435
ann.cave@fiserv.com