Marriott Uses Fiserv for Managing Timeshare Loan Portfolio.(MortgageServ loan servicing platform)

Brookfield, WI -- Marriott Vacation Club International is now using the MortgageServ loan servicing platform to manage its vacation ownership loans, the company said.

Headquaratered in Orlando, Fla., Marriott Vacation Club International has servicing operations in Lakeland, Fla., Salt Lake City and Cork, Ireland. Currently, nearly 280,000 families own Marriott vacation properties.

The international nature of Marriott's timeshare business means that owners often live in countries different from those where their vacation properties are located. To facilitate payment collection from countries outside the United States, MortgageServ developed a program to make collection efforts more efficient as well as customer-friendly. Although all its loans run side-by-side on the servicing platform, Marriott can assign its loans to servicing entities within the system that support transactions in either dollars, pounds or euros.

"The architecture of the MortgageServ system enabled Fiserv Lending Solutions to add functionality to support Marriott Vacation Club Inter-national's unique business," said John Tenuta, ...