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HSBC Mortgage Corporation Selects the Fiserv MortgageServ Platform for Both Mortgage and Equity Line

Monday 20 October 2003 15:24 CET | News

HSBC Mortgage Corporation (USA), a wholly owned subsidiary of HSBC Bank USA, has selected the Fiserv MortgageServ loan servicing system for mortgage and home equity line processing.

HSBC Mortgage Corporation (USA) wanted to consolidate the technology systems supporting its mortgage and home equity products. The lender determined that the MortgageServ system would be able to service all equity products and mortgage accounts on a single, real-time, browser-based platform. With the new agreement, HSBC Mortgage Corporation (USA) will service all of its real estate-secured loans on MortgageServ. HSBC Mortgage Corporation (USA) services loans in 48 states and uses both domestic and offshore service centers. Sadu Thinakal, President of Fiserv Mortgage Servicing Systems, said the MortgageServ system would provide flexible accessibility to the lenders loan data. MortgageServ real-time updates are shared system-wide, and provide everyone in the servicing workflow with up-to-the minute account information. Realtime updating can be harnessed to enhance service delivery from remote call centers, voice response systems and Internet self-service channels. HSBC Mortgage Corporation (USA) is a wholly owned subsidiary of HSBC Bank USA, which is an indirectly held, wholly owned subsidiary of HSBC Holdings plc (NYSE: HBC). The HSBC Group, headquartered in London, and with over 9,500 offices in 79 countries and territories, is one of the worlds largest banking and financial services organizations. HSBC Mortgage Corporation (USA), an equal housing lender, services over 340,000 mortgage loans and 80,000 home equity lines of credit from 48 states and has 30 offices in eight states. The Fiserv Lending Systems & Services solution set is focused on providing the end-to-end technology, process outsourcing, and consulting resources that financial institutions need to produce and process mortgage loans, home equity lines, and automotive loans and leases. Fiserv lending systems and solutions are designed to streamline processes, better manage customer relationships and increase profitability.


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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce