Product & Service

Fiserv Releases UniFi PRO 5.2

LAKE MARY, Fla.-Fiserv Lending Solutions has announced the upcoming release of the new version 5.2 of its UniFi PRO Mortgage loan origination and processing software. UniFi PRO Mortgage is an enterprise-wide, fully customizable and fully configurable loan origination and processing solution for large, multi-channel lenders, and version 5.2 will feature significant new functionality, including an automated task engine, streamlined loan application processing, and optimized usage of automated underwriting system findings, the company said. "The new capabilities will boost productivity, improve efficiency, and help reduce the time and cost of moving loans through a lender's pipeline," noted Fiserv Lending Solutions. The first installation of the new UniFi PRO Mortgage version 5.2 is currently slated for the first quarter of 2003.

For info: www.fiserv.com.

CTCI Chooses ABT For Mortgages

OAKLAND, Calif.-The $700-million ChevronTexaco Credit Union has partnered with Access Business Technologies (ABT), a specialized Application Service Provider for the mortgage loan servicing industry, to implement its Internet loan servicing application, PowerCore.

PowerCore is a web-based technology that wraps multiple applications and provides integrated management, tracking and analysis tool to users-all with a common user interface. This technology, often referred to as "One Virtual System" (OVS), is a management system that allows real-time access via secure Internet or intranet connections, the company noted. "With this system, loan service will almost immediately go to 1,000 loans per employee, up from 500 loans per employee," said Duncan Gamlen, a real estate consultant for ChevronTexaco Credit Union. "At the same time, cost-per-loan will be reduced to about $4, contrasting with the industry standard cost of up to $15 per loan."

For info: www.abtservicing.com.

Home Evaluation Tool Set For Jan.

HUNTSVILLE, Ala.-Banton Technologies, a collateral assessment firm specializing in real estate technology and residential appraisal solutions, said it will release ValueWizard 3.0, a home evaluations assessment tool, for all national regions in January 2003. Previously, ValueWIzard 3.0 had only been available in the Southeastern United States. The company said that ValueWizard 3.0 is a more accurate property evaluation model than the average automated valuation models, and relies most on real residential property information, such as recent sales comparables.

For info: www.banton.com.