ABN AMRO Mortgage Group Selects Fiserv's UniFi PRO Loan Origination Solution for Enterprise-wide Deployment.BROOKFIELD, Wis. -- Fiserv Lending Solutions, a business unit of Fiserv, Inc. (Nasdaq:FISV FISV Fiserv, Inc (stock symbol) ), announced that ABN AMRO ABN AMRO Algemene Bank Nederland-Amsterdam Roterdam Bank (Dutch bank) Mortgage Group, Inc., one of the nation's top 10 residential loan originators according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. National Mortgage News, has selected UniFi(R) PRO Mortgage eX to be its enterprise-wide loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. solution. An indirect subsidiary of the Netherlands-based ABN AMRO Bank, the U.S.-based ABN AMRO Mortgage Group is a multi-channel lender headquartered in Ann Arbor Ann Arbor, city (1990 pop. 109,592), seat of Washtenaw co., S Mich., on the Huron River; inc. 1851. It is a research and educational center, with a large number of government and industrial research and development firms, many in high-technology fields such as , Mich. ABN AMRO Mortgage Group's market presence includes mortgage loans generated through the retail branch network and Web site of the Chicago-based LaSalle Bank LaSalle Bank Corporation is the holding company for LaSalle Bank N.A. and LaSalle Bank Midwest N.A. With $116 billion in assets, it is headquartered at 135 South LaSalle Street in Chicago, Illinois. , the mortgage.com retail Web site and its wholesale/correspondent division, InterFirst Wholesale Mortgage Lending. In 2005, among all its production sources, ABN AMRO Mortgage Group originated more than $53 billion in loans. Currently, ABN AMRO Mortgage Group uses several disparate technology systems to manage loan production. As part of a strategic initiative, the lender will not only reduce the number of systems it supports but also eliminate procedural inconsistency. The highly scalable and flexible UniFi PRO loan origination system has been selected to replace several loan origination systems. The end result will be a common loan origination platform across all channels that will enable standardized practices and straight-through-processing for ABN AMRO Mortgage Group affiliates in the U.S. "ABN AMRO Mortgage Group has built a significant presence in the U.S. mortgage market as the company established new divisions and Web sites," said Randall Conte, executive vice president and chief operations officer, ABN AMRO Mortgage Group. "Over time, ABN AMRO Mortgage Group developed proprietary solutions as well as acquired businesses that have resulted in processing silos for its business channels Business channels are TV channels that concentrate on business news. List of channels
The fully functional UniFi PRO provides ABN AMRO Mortgage Group with the option to deploy with the supplied screens and functionality, or to customize screens and workflows using the system's PowerTools(R). Most immediately, the system will be deployed "out-of-the-box" at ABN AMRO Mortgage Group's Sunrise, Fla. facility that originates Internet-based loans referred by its mortgage.com Web site. "Because Fiserv Lending Solutions has built UniFi PRO to be a comprehensive solution, ABN AMRO Mortgage Group is able to accelerate implementation and begin to benefit from streamlined workflow and information exchange," said Raymond Oral, group senior vice president, information technology, ABN AMRO Mortgage Group, Inc. "Fiserv allows a more rapid deployment than developing a system in-house or by utilizing a tool kit approach. There is significant out-of-box functionality that, when coupled with PowerTools, will provide ABN AMRO Mortgage Group with the flexibility required to adapt UniFi PRO to meet its needs." Fiserv Lending Solutions' consultants will be working in partnership with ABN AMRO Mortgage Group to roll out the UniFi PRO platform. As the system is implemented facility by facility, a combined team of ABN AMRO Mortgage Group and Fiserv Lending Solutions personnel will manage the migration to the more streamlined processes of UniFi PRO. The enterprise-wide implementation will involve deploying over 5,000 UniFi PRO workstations and training several thousand ABN AMRO Mortgage Group associates. "ABN AMRO Mortgage Group's selection of UniFi PRO is a great validation of Fiserv Lending Solutions' technology direction," said John Tenuta, division president of Fiserv Lending Solutions. "We've built UniFi PRO so that lenders can chart their own course. ABN AMRO Mortgage Group is able to leverage the system to standardize processes company-wide. Once ABN AMRO Mortgage Group establishes a single platform enterprise, they will customize processes for global deployment to maintain ongoing consistency and business rule adherence." UniFi PRO Mortgage eX is a "next-generation" loan origination system that blends innovative, Web-centric technology with proven business logic. With its open architecture, highly configurable decision-making and workflow capabilities, and complete integration to a wide range of services and business systems, UniFi PRO Mortgage eX offers lenders the tools to achieve a fully automated, "end-to-end" mortgage-processing environment. UniFi PRO Mortgage eX automates every phase of mortgage and home-equity loan Home-Equity Loan A consumer loan secured by a second mortgage, allowing home owners to borrow against their equity in the home. The loan is based on the difference between the homeowner's equity and the home's current market value. origination, electronic processing, traditional processing, and closing. UniFi PRO Mortgage eX offers integrated access to Web-based transaction management tools for the delivery, presentment and tracking of application documents and disclosures, collaborative closings and document storage. The system enables real-time transactions, document status and signature options for traditional as well as electronic closings. ABN AMRO Mortgage Group is one of the largest loan originators and loan servicers  This article or section is in need of attention from an expert on the subject.Please help recruit one or [ improve this article] yourself. See the talk page for details. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . It produces mortgage loans and provides related services through its various divisions, including InterFirst Wholesale Mortgage Lending, mortgage.com and AMCAP AMCAP Association of Mormon Counselors and Psychotherapists AMCAP Antique Motor Coach Association of Pennsylvania AMCAP American Martial Arts Character Achievement Program . ABN AMRO Mortgage Group also originates mortgage loans generated through its LaSalle Bank and LaSalle Bank Midwest LaSalle Bank Midwest N.A. is a bank serving Michigan and Indiana with 264 branches and 1,000 ATMs. It's a subsidiary of LaSalle Bank Corporation which was formerly an indirect subsidiary of Netherlands-based ABN AMRO Bank N.V. bank branches. Headquartered in Ann Arbor, Mich., ABN AMRO Mortgage Group has approximately 3,000 employees located throughout the United States. UniFi PRO Mortgage eX is part of the Fiserv Lending Solutions suite of products and services for mortgage, consumer and commercial lenders. The comprehensive lending solutions set from Fiserv includes loan origination and servicing software; lead management and customer loyalty services; document management solutions; automated lending services such as credit, flood, and valuations; field services such as appraisals, inspections, and broker price opinions; closing services; and default management solutions. Additional information can be found on the Web at www.fiservlendingsolutions.com. Fiserv, Inc. provides information management systems and services to the financial and health benefits industries, including transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. , business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in and software and systems solutions. The company serves more than 17,000 clients worldwide, including banks, credit unions, financial planners Financial Planner A qualified investment professional who assists individuals and corporations meet their long-term financial objectives by analyzing the client's status and setting a program to achieve these goals. and investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $3.7 billion in processing and services revenues for 2005. Fiserv was ranked the largest provider of information technology services to the U.S. financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry in the 2004 and 2005 FinTech 100 surveys by the American Banker American Banker is a daily newspaper covering the financial services industry. Founded in 1835 and based in New York, American Banker's 70 reporters and editors in six cities monitor developments and breaking news affecting banks. newspaper and the Financial Insights research firm. Fiserv can be found on the Internet at www.fiserv.com. |
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