Colonial Savings Selects LoanServ From Fiserv As Its Mortgage Servicing Platform

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Fort Worth, Texas-based national mortgage lender Colonial Savings, F.A. has selected the LoanServ™ platform for its mortgage servicing technology needs. Colonial Savings, one of the largest mortgage loan servicers in the U.S. with a portfolio exceeding $22 billion, will convert its existing loan servicing portfolio to LoanServ to enhance and broaden the services they offer to customers. This includes the deployment of the LoanLink™ feature, a self-service web portal that enables borrowers to access and update their loan information in real-time.

Using LoanServ from Fiserv, Colonial Savings will achieve a range of business goals, including greater effectiveness, minimized risk, reduced expenses and higher customer satisfaction, all contributing to increased revenue and profitability growth. The flexible platform also enables Colonial Savings to adapt rapidly to operational and marketplace changes, as well as control the design and management of its workflows across all delivery channels.

Despite its size, Colonial Savings remains highly focused on ensuring that it meets the needs of a growing customer base. LoanServ from Fiserv will support this customer-centric focus with issue tracking and workflow capabilities that enable Colonial Savings to manage client expectations and response times more efficiently while continuing its current pattern of growth.

“Our decision to select LoanServ was based not only on our own needs, but in Fiserv we saw a commitment to customer service that mirrored our own philosophy around creating a more dynamic customer experience,” said Tim Neer, loan servicing director at Colonial Savings. “LoanServ will help ensure that every Colonial Savings customer is rewarded with a customer experience that is consistent, easy to access and creates a high level of satisfaction.”

LoanServ will allow Colonial Savings to implement automated loan boarding for processing single or bulk transactions, and will handle all point-in-time and real-time reporting with flexible fee structures and payment options based on how borrowers manage their mortgage payments. Colonial Savings will also be able to better manage its escrow requirements and reporting, including support for defaulted loans.

“Colonial Savings is widely recognized for its dedication to putting customers first,” said Kevin Collins, president, Lending Solutions, Fiserv. “At Fiserv, we share the same philosophy, and are confident that the deployment of LoanServ will help Colonial Savings further improve the customer experience and help them expand in the mortgage servicing arena.”

LoanServ from Fiserv is an integrated solution that consolidates support for all retail loan products on a single platform, including mortgages, home equity loans and lines of credit, personal loans and lines of credit, closed-end and revolving installment loans and indirect financing. It integrates all loan servicing processes and automates payment processing, collections, default management, cashiering, escrow, and investor accounting, and the rule-based workflow tools of LoanServ let users define processes according to their own business needs.

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About Colonial Savings, F.A.

Founded in 1952, the Colonial Family of Companies is a comprehensive, national financial services company offering home mortgages with retained servicing, personal and commercial banking services, property/hazard insurance, life disability insurance and national residential and commercial title services. Privately held and nationally recognized, Colonial Savings builds relationships for the long term.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider serving the financial services industry, driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more information, visit www.fiserv.com.

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Copyright Business Wire 2010

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