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Special Reports
Origination Technology Update
Fiserv Adding HE & CRE Capabilities
By Amilda Dymi
LAKE MARY, FL--Fiserv Lending Solutions has added new home-equity lending and
commercial lending capabilities to its easyLENDER mortgage, customer and commercial loan origination system, "using
dynamic documents vs. static documents," said Dan Welbaum, easyLENDER senior vice president of marketing.
Dynamic documents allow small- to middle-size mortgage market users to change
a form and customize it according to product features based on the complexity of the loan and borrower profile.
Also, the system automatically selects documents that ensure the loan is in compliance with regulatory requirements.
If in the past it could take lenders or brokers two to six weeks to secure disclosure
documents on a home-equity loan, he said. Now, for example, Fiserv provides them the ability "to run the 'wizard'
within an application and within minutes," produce documents needed to support the new home-equity loan program
all by themselves, thus allowing users to be more competitive in the marketplace. The new user-friendly features
and information on different loan types are also available within the system.
"Based upon the type of loan the system is intelligently providing the loan
documents vs. the user having to figure out which documents they need to meet the loan," he said.
Through the easyLENDER loan origination platform, Fiserv serves community banks,
thrifts, credit unions, savings banks and other middle market entities. Its LOS options include mortgage loans,
home-equity loans, customer loans and commercial loans. "easyLENDER is easy to use and also it is a very scalable
system, it can be used by a small bank that is just starting and all the way to multibillion-dollar banks,"
the executive said. "We can serve from one or two workstations, to several hundred workstations."
Among the most recent additions to its online mortgage lending applications, Mr.
Welbaum says are status returns, or status capabilities, so users "doing a loan at two in the morning can
enter it over the Internet and through easyLENDER." Moreover, users can continue to remotely follow up and
check the status of the loan.
Another added feature integrated with easyLENDER is the complete document imaging
solution and an Internet fraud screening solution that helps increase loan processing efficiency.
The easyLENDER LOS represents a platform of services from the point-of-sale to
closing that integrates the aforementioned service applications into the system. Once the loan is originated and
closed, he said, there is no need to rekey the servicing data into a servicing application. Fiserv's banking integration
LOS allows its solutions to integrate with many other systems used by Fiserv clients, whether it is in conjunction
with their mortgage, home-equity or commercial lending markets.
"That integration to the host is built and supported by Fiserv. They do not
have to go to a third-party consultant company," Mr. Welbaum said. "Plus, that integration to the host
system is a two-way interface, it's not just uploading the information."
It enables mortgage lender-users to upload data such as address, Social Security
numbers and the like which typically a bank or credit union already have, helping them to speed up client information
processing time through Fiserv's host upload-download capabilities.
"These are some of the new things, but we still continue to advance our integration
process to the host to make it better and more seamless," he said. "Between stronger Internet lending
capabilities, having the capabilities for document imaging and paperless lending, strengthening the integration
of the host systems, are some of the things that we are bringing to the table, which is what adds value to easyLENDER
in the marketplace."
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