FIS Rolls Out New Web-based Loan Modification Technology

Jacksonville, Florida-based Fidelity National Information Services, Inc. (FIS) announced the launch of its new Web-based loan modification solution this week. The new tool allows companies to quickly deal with re-setting servicing costs on adjustable rate mortgages, while also maintaining the integrity of each transaction.

The solution, which is built into FIS's ClosingStream e-mortgage technology platform, promises “to help lenders save money by limiting adjustable-rate mortgage reset servicing costs," the company says.

In a press statement about the product, FIS added, “Industry demand for automated process enhancements, such as loan modification and electronic-signature technology, is growing quickly as ARMs continue to reset. As a result, investors and financial institutions are trying diligently to prevent portfolio runoff, as well as costly defaults and foreclosures.”

Ron Frazier, president of FIS's LSI Division, promotes the tool's ability to turn hours of paper processing into a streamlined and secure electronic process.

“Customers are able to conveniently e-sign documents virtually anywhere, anytime – at home, at the office or on vacation,” Frazier said. “The e-sign feature provides benefits to both the customer and lender by providing effective and efficient method to present, review and sign most document types.”