Fidelity National Information Services Inc. (FIS) recently completed a successful year-end processing of loans serviced using its Mortgage Servicing Package (MSP) platform – more than 38.5 million loans for 84 clients were handled during the work.
Year-end processing is a resource-intensive project representing a culmination of activities throughout the year, the company says. Mortgage servicers must annually report prior-year account information to mortgagors – under Internal Revenue Service and other government agency regulations – as well as meet internal reporting requirements.
FIS' year-end process enables clients to comply with these requirements by compiling loan information, generating exception and balancing reports, and creating annual statements for mortgagors.
