Wolters Kluwer Financial Services and Fidelity National Information Services (FIS) have formed a strategic alliance to integrate Wolters Kluwer Financial Services' loan modification document solutions and industry-leading compliance content into the loss mitigation module of FIS' Desktop platform.
FIS Desktop is a workflow-, document- and expense-management system that provides mortgage lenders, servicers and investors with business management technology to help manage the entire post-origination loan cycle, from loan acquisition and boarding through loss mitigation and real estate-owned property disposition, FIS says. The loss mitigation module is available to all servicers and is integrated with FIS' industry-leading Mortgage Servicing Package platform, as well as other servicing platforms.
With the integration of Wolters Kluwer Financial Services' Desert Document Services repository of standardized documents into FIS' Desktop solution, servicers will have the ability to automatically generate federal- and state-compliant documents on a nationwide basis. Doing so will help them eliminate the need to maintain and track loan modification documents on a state-by-state basis to ensure ongoing regulatory and recording compliance, the companies add.
The integration will also enable servicers to customize loan modification documents and packages as needed. In addition, the Desert Document Services platform's robust change-management capabilities will provide FIS' servicing clients with rapid implementation of any document requirements driven by investors or regulatory agencies.
