BROOKFIELD, Wis., Feb 16, 2006 (BUSINESS WIRE) -- Fiserv Lending Solutions, a business unit of Fiserv, Inc. (Nasdaq:FISV), announced today it is collaborating with Saxon Mortgage Services, Inc., a subsidiary of Saxon Capital, Inc. (NYSE:SAX), to enhance the investor accounting functionality within the MortgageServ loan servicing system. The organizations are working together to develop and test an interactive interface that will guide system users through a series of if/then questions to establish investor reporting rules.

As a fully functional and real-time system, MortgageServ already enables servicers to report and remit to investors at the highest possible tier ratings. Saxon Mortgage Services is providing Fiserv with valuable insight into what servicers need to be self-reliant and flexible as investor requirements evolve.

"Our relationship with Fiserv allows us to stay on top of our ever-changing environment," said Saxon Mortgage Services' president David Dill. "MortgageServ's rules-based investor functionality will allow us to easily adapt to the next exotic product type and/or deal structure. It is a synergistic relationship. Fiserv is supplying the core system support and, in return, they are gaining firsthand knowledge of the product and cash flow structures that we need to be prepared to service."

A wizard instructional tool will pose if/then questions related to reporting, remittance, cutoff and other contract obligations. The answers selected will then feed into the MortgageServ rules engine so that predefined loan conditions automatically trigger events, populate work queues and update databases and reports. Saxon Mortgage Services looks forward to having the increased control over servicing contract setup.

"MortgageServ's Investor functionality will be a huge benefit to any servicer working with numerous servicing agreements," says Susan Figiel, vice president of investor accounting at Saxon Mortgage Services Inc. "We anticipate that the enhanced investor reporting flexibility will enable servicers to fulfill investor agreement obligations within the servicing system rather than having to build stand-alone programming."

As Fiserv builds out the MortgageServ platform, the functionality will support not only mortgage loans but also the investor contracts for servicing home equity and consumer loans.

"Providing a wizard to step-loan servicers through investor setup puts the power to define investor requirements into their hands," says George Westmoreland, senior vice president of MortgageServ core system development. "MortgageServ will be the first core system to enable servicers to add products and support new investors on their own timeline."

Saxon is a residential mortgage lender and servicer that manages a portfolio of mortgage assets. Saxon purchases, securitizes and services real property secured mortgages, and elects to be treated as a real estate investment trust (REIT) for federal tax purposes. Saxon is headquartered in Glen Allen, Va. and has additional primary facilities in Fort Worth, Texas, and Foothill Ranch, Calif. Saxon's production subsidiary, Saxon Mortgage, Inc., originates and purchases loans through indirect and direct lending channels through a network of brokers, correspondents and retail lending centers. As of Sept. 30, 2005, Saxon's servicing subsidiary, Saxon Mortgage Services, Inc., serviced a mortgage loan portfolio of $26.4 billion.

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 (AVM) products, auto leasing solutions, settlement services and default management.

Fiserv, Inc. (Nasdaq:FISV) provides information management systems and services to the financial industry, including transaction processing, business process outsourcing and software and systems solutions. The company serves more than 17,000 clients worldwide, including banks, credit unions, financial planners and investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $3.7 billion in processing and services revenues for 2005. Fiserv was ranked the largest provider of information technology services to the U.S. financial services industry in the 2004 and 2005 FinTech 100 surveys by the American Banker newspaper and the Financial Insights research firm. Fiserv can be found on the Internet at www.fiserv.com.

SOURCE: Fiserv, Inc.

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

Copyright Business Wire 2006

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