The Massachusetts Housing Finance Agency – which provides financing for the construction of affordable rental housing as well as affordable first and second mortgages to the people of Massachusetts – is now using Fiserv's mortgage servicing platform, LoanServ, for loan boarding, business-to-consumer and business-to-business Web-based applications and the disposition of real estate owned properties.
‘Switching to LoanServ is going to help us deliver on our mission to increase affordable housing options for Massachusetts residents by improving the speed and efficiency of closing, managing and servicing our loans, while minimizing the risk,’ says Kevin Mello, director of HomeOwnership Servicing & Operations, MassHousing, in a release.
LoanServ 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.
