Fiserv, Inc. has announced that its loan servicing platform is compliant with the U.S. Treasury Department's guidelines on home loan modifications.
The platform utilizes integrated default management tools that allow servicers to track and study the loans being modified. With this knowledge, servicers can formulate best-option workout scenarios based on operational business rules while meeting Treasury's guidelines, the technology firm said.
"Fiserv has been fully engaged with the Treasury and GSEs in order to provide all the functionality to meet the program's specific requirements," said Greg Fontenot, assistant vice president for loan servicing solutions. "Our continual investment enabled our loan servicing platform to deliver the flexibility and capability required to meet the HMP guideline as soon as it was announced in March."
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