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Flagstar Bank To Originate Electronic Notes Using Fiserv eLending Technology For Sale to Freddie Mac Under Process Test Initiative
27.08.08 - 07:14 ... source : Fiserv
... BROOKFIELD, Wis., Aug 26, 2008 (BUSINESS WIRE) -- Fiserv, Inc. (NASDAQ:FISV), a leading provider of information technology services to the financial industry, announced today that Troy, Michigan based Flagstar Bank (NYSE:FBC), a $14.6 billion-asset federal savings bank, has begun to originate its prime residential mortgage loans with electronic notes using Fiserv technology, for sale to McLean, Virginia based Freddie Mac (NYSE:FRE), one of the nation's largest investors in residential mortgages, under a new paperless process test initiative. Flagstar Bank utilizes the Fiserv eLending platform for its eMortgage signing, closing and post-closing processes. The company stores eNotes and other closing documents in the Fiserv eVault and facilitates the electronic transfer of assets to loan servicers and secondary market investors, such as Freddie ...» Next (HTML)
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