Flexibility Serves Proliferation of New Products for ILS.(Interlinq Loan Servicing)

New York -- When it comes to choosing a loan servicing platform, many lenders today are looking for systems that have the flexibility to handle all the new products that are gaining a foothold in the market.

And Interlinq Loan Servicing, a division of Harland Financial Solutions, is preparing to meet those needs. Already, the company has introduced dozens of enhancements to its system in recent years so that users can accommodate servicing multiple types of loans from one system. Interlinq's system is designed to mirror the staffing functions of servicers with intuitive, integrated loan administration modules that are easy for personnel to learn and use.

Fred Melgaard, vice president for loan servicing products at Harland Financial Solutions, said the company's clients are under pressure to minimize expenses, and that often means consolidating servicing of multiple loan types onto one system. Not only does that simplify servicing, it means a lender only needs information technology experts to support one system rather than two.

Interlinq's approach is to add product support features that lenders embrace, but that doesn't mean jumping the gun by investing resources before a product has been embraced by lenders. Because Harland provides front-end technology support for lenders as well as a servicing system, the company's relationship with originators helps the ILS team anticipate what types of loans servicers will need to manage.

Already, ILS supports products such as option ARMs, interest-first and home-equity lines that have been widely embraced by lenders. "As soon as you seen a product that is successful in the marketplace, you have to react quickly," Mr. Melgaard said.

Currently, ILS is working on additional features that will enhance support for HELOCs, ...