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Fiserv integrates Mortgagebot in loan origination software

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MEQUON, Wis., and BROOKFIELD, Wis. (5/16/08)--Fiserv Inc. has integrated its easyLENDER and UniFi PRO loan origination software (LOS) solutions with Mortgagebot PowerSite Pro, a point-of-sale software solution, to help loan officers at credit unions or other financial applications take mortgage applications. More than 150 financial institutions use a Fiserv loan origination solution in conjunction with Mortgagebot PowerSite, the companies said in a press release Tuesday. “Deploying our PowerSite product suite enables lenders to benefit from an enterprise-wide point-of-sale solution that borrowers, call center staff, branch personnel and loan officers can use to generate error-free mortgage applications,” said Dan Welbaum, Mortgagebot chief marketing officer. Fiserv and Mortgagebot also have created advanced data-integration options for lenders to directly transfer borrower information and application data captured by PowerSite Pro into easyLENDER or UniFi PRO. Mortgagebot provides loan-application technology solutions to mortgage lenders. Fiserv provides information management and electronic commerce systems and services to financial institutions, including credit unions.

Jack Henry nCipher to provide storage encryption for CUs

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MILPITAS, Calif. (5/16/08)--nCipher and Jack Henry and Associates Inc. have partnered so that Jack Henry’s subsidiary, Symitar, can resell nCipher’s CryptoStor product as a part of its solution offering. Symitar supplies credit unions with software systems and has already deployed CryptoStor at a number of credit unions. CryptoStor is a high-speed tape security appliance that compresses, encrypts and digitally signs data as it goes to tape media or virtual tape, without disrupting the backup processes. It intercepts backup communications between hosts and tape libraries, centrally managing and off-loading tape media security functions. Security regulations and compliance mandates require organizations in financial services markets to encrypt sensitive information throughout the data lifecycle, including storage, back-up and recovery, nCipher said in a release. nCipher provides security solutions for financial institutions, including credit unions. Jack Henry is a provider of computer systems and ATM/debit card and automatic clearinghouse transactions.

Mortgage CUSO in Kansas hits 1 billion mark

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LENEXA, Kan. (5/16/08)--TruHome Solutions LLC, a full-service mortgage credit union service organization (CUSO) based in Lenexa, Kan., has reached the $1 billion mark in mortgage servicing, the company announced. The CUSO offers mortgage origination, underwriting and servicing services to credit unions. Keeping the servicing function on members' mortgages is "an important relationship tool for credit unions, said Keith Varney, chief operating officers of TruHome Solutions. By retaining the servicing rights, a credit union "has the opportunity to be involved in one of the largest investments members make," he said. "When a credit union sells its rights to service (the mortgage), it can lose the connection between the product and the person," Varney said. Servicing mortgages also helps credit unions earn non-interest income, "a relatively simple way to increase earnings without burdening members," he added. The growth is a result of an active campaign aimed at gaining advantages associated with economies of scale, Varney said.

IntelliCAT now interoperative with Ultradata software

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CARSON, Calif. (5/16/08)--MagTek, a provider of electronic payments technology, announced that its IntelliCAT card issuance and personal identification number selection (PIN) system is now interoperable with Harland Financial Solutions’ Ultradata processing software. Ultradata is used by credit unions nationwide. The integration of Ultradata and IntelliCAT allows card production information to be exchanged between the two systems. IntelliCAT helps credit unions comply with security requirements from MasterCard and Visa for instant card issuance. It also offers credit unions secure remote PIN selection for members that are out of state and unable to come to a branch, said Andy Deignan, vice president/business unit manager for financial products.