CPI Director Successfully Moves Mortgage Servicing into the FutureJACKSONVILLE, Fla., April 7 -- ALLTEL (NYSE NYSE
See: New York Stock Exchange : AT) announced that its client/server-based CPI Director(TM) Solution Family has successfully moved mortgage servicing Mortgage servicing
The collection of monthly payments and penalties, record keeping, payment of insurance and taxes, and possible settlement of default , involved with a mortgage loan. into the future.
The next generation product will provide dramatic increases in productivity by automating mortgage servicing processes. It will streamline and enhance information presentation and direct user activities based on business priorities.
CPI Director serves as the bridge from the transaction-focused mainframe world of ALLTEL's CPI Mortgage Servicing Package (MSP (1) (Management Service Provider or Managed Service Provider) An organization that manages a customer's computer systems and networks which are either located on the customer's premises or at a third-party datacenter. ), to the customized business-process focus of client/server. Built on the foundation of MSP, it enables clients to maximize the value and power of MSP and facilitates the seamless integration of new technology into their current work environment.
"Our goal was to further improve the way our clients handle their servicing needs," said Nick Woodcock woodcock: see snipe.
Any of five species (family Scolopacidae) of plump, sharp-billed migratory birds of damp, dense woodlands in North America, Europe, and Asia. , senior vice president of national client sales for ALLTEL's Mortgage Servicing Products. "We wanted the CPI Director Solution Family to become the enabling technology for the next evolutionary step in loan servicing automation. And, we are happy to report that our early success with Director validates that we were right on target."
Clients are already realizing the benefits of the client/server architecture that CPI Director brings to the servicing operation.
"CPI Director has brought significant results to our day-to-day operations," said Rob Sneed, research supervisor for Wendover Funding in Greensboro, N.C. "Utilizing the task queuing feature to reduce our manual processes, we have realized a time savings of 70 percent."
"CPI Director allows quicker access to information, while reducing customer information control system usage. This translates into increased productivity and improved customer service," said Phyllis Thomas, customer service manager for Temple-Inland Mortgage Corp. in Austin, Texas.
The CPI Director Solution Family is ALLTEL's first integrated suite of solutions for mortgage loan servicing that combines the power and efficiency of intelligent workflow with enhanced productivity through a graphical interface. MSP and CPI Director will serve as the platform for ALLTEL to offer a series of solutions for processes such as imaging, post-closing, post-payoff processing, default management, computer telephony integration Computer Telephony Integration - Computer Telephone Integration and the management of escrow functions.
ALLTEL will use FileNet Corporation's Visual WorkFlo(R) suite of products to provide the core workflow technology for the CPI Director Solution Family. The strategic agreement combines ALLTEL's mortgage banking expertise with FileNet's leadership in scalable workflow, document imaging and electronic document management solutions for enterprise computing.
ALLTEL April 7, 1997 Page 2
"The CPI Director Solution Family gives lenders what they need today to handle their current business needs and also positions them for bigger gains from workflow that will be realized in the very near future," Woodcock said.
"Our anticipation is that the Director workflow process will integrate our day-to-day business processes allowing us better control and increased productivity," said Mike Mauldin, senior vice president of loan servicing for Temple-Inland Mortgage Corp. "It also will shorten the training cycle for new employees."
ALLTEL is the leader in the mortgage loan automation industry and the largest U.S. provider of software and processing services to firms servicing residential mortgage loans. The company currently provides loan servicing automation for more than 17 million mortgage loans, with balances exceeding $1.5 trillion.
ALLTEL Corporation is a customer-focused, information technology company that provides wireline and wireless communications and information services.
SOURCE ALLTEL Corporation
/CONTACT: Nick Woodcock, 904-359-5832 or Lori Messina, 904-359-5157, both of ALLTEL/
CO: ALLTEL Corporation ST: Arkansas, Florida IN: CPR Cardiopulmonary Resuscitation (CPR) Definition
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