This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cole Taylor Mortgage Selects LoanServ From Fiserv To Expand Loan Servicing Footprint And Facilitate Portfolio Growth

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Cole Taylor Mortgage, a division of Chicago-based Cole Taylor Bank, has deployed the LoanServ™ platform from Fiserv to support its expanding loan servicing portfolio and further develop its full-service mortgage banking capabilities. Cole Taylor Mortgage is also rolling out LoanLink™, a consumer-facing self-service website for its borrowers provided by Fiserv.

“LoanServ has the customized functionality we need from a loan servicing technology platform – including escrow, default management, investor accounting and payment processes – to enable us to achieve our growth goals,” said Willie Newman, president of Cole Taylor Mortgage. “We are pleased with our new relationship with Fiserv, and impressed with how its team seamlessly handled our first major conversion of mortgage servicing rights onto the LoanServ platform.”

Having achieved substantial growth in its mortgage origination division over the last few years, Cole Taylor Mortgage recently created an in-house servicing operation that offers greater flexibility and provides an improved customer service experience to increase top-line growth. With the successful migration to LoanServ, Cole Taylor Mortgage is now well positioned to further expand its loan servicing footprint, retain a greater share of revenue and seamlessly onboard acquired servicing assets.

As of June 30, Cole Taylor Mortgage held servicing rights for over 55,000 mortgage loans.

“As Cole Taylor Mortgage expands its service offerings and becomes a full-service mortgage provider, it’s important they have a strong partner to support that growth,” said Kevin Collins, president, Lending Solutions, Fiserv. “The selection of LoanServ and LoanLink reinforces the value of the lending technology solutions from Fiserv, especially the transparency, flexibility and seamless integration desired by industry leaders such as Cole Taylor Mortgage.”

LoanServ automates all loan servicing processes, including integrated default management and collections, cashiering, escrow, and investor accounting for both closed-end and revolving loans. With the LoanServ solution, 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.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,084.11 +60.05 0.33%
S&P 500 2,117.01 +8.72 0.41%
NASDAQ 5,027.6450 +22.2540 0.44%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs