GMAC Mortgage Selects Fiserv MortgageServ System as the Foundation for Its Debt Service Utility.

Business Editors

Fiserv, Inc. (Nasdaq:FISV) announced today that GMAC Mortgage, one of the top residential mortgage lenders and servicers in the country, has selected the MortgageServ(R) system, integrated with its InformEnt Mortgage Data Warehouse, to be its single platform for the servicing of both residential and consumer loan products.

GMAC Mortgage, headquartered in Horsham, Pennsylvania, with operational centers in Pennsylvania, Iowa and Connecticut, services a portfolio of more than 2 million mortgages, home equity lines of credit and consumer loans totaling over $205 billion.

Selection of Fiserv as a technology partner and MortgageServ as the platform of choice by GMAC Mortgage affirms the Fiserv position of technology leadership for the mortgage sector, said Leslie M. Muma, Fiserv President and Chief Executive Officer.

"This partnership with GMAC Mortgage underscores the position of Fiserv as a technology leader in the mortgage industry. Fiserv is well positioned to meet the current and emerging needs of world-class lenders like GMAC Mortgage," Muma said. "Fiserv is dedicated to partnering with GMAC Mortgage now and into the future with the ongoing development of mortgage and lending technology."

Through its Client Branded Solutions(SM), GMAC Mortgage is also one of the nation's leading private label sub-servicers. As a private label servicer, unique brand names and multiple institutional rule sets must co-exist within the GMAC Mortgage servicing platform. MortgageServ's private-label sub-servicing functionality, called PL$$(SM), will enable GMAC Mortgage to customize the servicing pathway for each sub-serviced portfolio segment within the same platform that it uses to service its own large portfolio.

"GMAC Mortgage requires a solution that supports the multiple dimensions of our loan portfolio's scale and scope," said Ralph Hall, GMAC Mortgage Chief Operating Officer. "We look forward to working with Fiserv and using its MortgageServ system."

Sadu Thinakal, President of Fiserv Mortgage Servicing Systems, said GMAC Mortgage recognizes that the consolidation of vertical product-based operational silos into a single, customer-focused platform will leverage staff and facilities, resulting in economies of scale.

"GMAC Mortgage is way ahead of the curve in terms of creating a new servicing model," Thinakal said. "Fiserv has developed MortgageServ to support the needs of mega-servicers, and GMAC Mortgage's selection of MortgageServ as the foundation for its debt service utility validates the strategy behind our platform."

Thin-client architecture, in tandem with browser presentation, provides MortgageServ end-users with an intuitive environment. The point-and-click operation of MortgageServ is easy to learn and reduces training time.

Because MortgageServ integrates the servicing of first mortgages with other loan products in a way that is transparent to the user, the servicing of all loan types looks and feels the same on the MortgageServ system. The type of loan differentiates the servicing pathway so that the MortgageServ system automatically presents servicing employees with the next appropriate servicing step or task. This feature reduces potential errors and the need to remember complicated procedures.

Anthony Renzi, Executive Vice President of GMAC Mortgage, said his company is focused on optimizing the efficiency of its servicing operation, reducing costs and increasing profitability.

"By building a single platform that we call the debt service utility, we can maximize the effectiveness of employees and facilities," Renzi said. "Regardless of the type of asset - first or second mortgage, home equity line or consumer loan - whether it is ours or a private-label account, the employee will rely on the MortgageServ system to guide them through servicing tasks. The end result will be information that will help us strengthen customer relationships and formulate cross-selling campaigns to generate revenue."

The fully integrated, browser-based MortgageServ system is a total solution for mortgage servicing and management. MortgageServ operates in real-time to provide fast transaction updates, task tracking and work queuing. As the mortgage industry's most robust servicing engine, the MortgageServ system includes private label sub-servicing support, default management and sub-prime functionality within the core system.

MortgageServ also streamlines default processing by connecting default and servicing participants via the Internet for ultimate work sharing and loss mitigation. As part of the Fiserv end-to-end mortgage servicing product suite, MortgageServ integrates with the value-added technologies of risk-assessment tools, a mortgage-specific data warehouse and document imaging.

GMAC Mortgage Corporation is among the nation's leading residential mortgage servicers and originators. The company originates first and second lien residential mortgage loans through a nationwide network of retail offices, direct lending centers, correspondents and Internet sites under the brands gmacmortgage.com and ditech.com. GMAC Mortgage also offers custom mortgage services to GM employees and their family members, retirees and dealers through its GM Family First program. As of December 31, 2001, GMAC Mortgage originated $52 billion residential mortgages, representing more than 437,000 transactions. The company's servicing portfolio of more than $205 billion represents 2 million customers throughout the nation. The company's headquarters is located in Horsham, Pennsylvania, with more than 1,400 employees in the Philadelphia region.

Fiserv, Inc. (Nasdaq: FISV) is an independent, full-service provider of integrated data processing and information management systems to the financial industry. As a leading technology resource, Fiserv serves more than 13,000 financial services providers worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance agents and companies, mortgage banks and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv also can be found on the Internet at www.fiserv.com.