Fiserv Integrates REO.com into MorgageServ Automation Platform.

Fiserv has formed a strategic alliance with REO.com to integrate the online REO firm's Offer Management System into the workflow of the MortgageServ loan servicing platform.

The combination will help improve productivity and reduce costs for lenders, servicers, asset managers and real estate-owned listing brokers who are involved in mortgage default management and the sale of REO properties.

According to Sadu Thinakal, president of Fiserv Mortgage Servicing Systems, the addition of OMS will enhance the browser-based MortgageServ's extensive REO offer/listing management controls and workflow management tools.

"Integration of the MortgageServ platform and REO.com will result in a more efficient liquidation of real estate- owned properties for joint clients," Mr. Thinakal said. "Electronic, real-time management of the entire REO disposition process is the future of how servicers and agent networks will communicate and interact."

Robert Knohl, co-president of REO.com, said the integration of the systems is a way to bring greater value to its client base. "The alliance and bidirection interface will shorten time delays and create a better yield on nonconforming portfolios - a major benefit to MortgageServ clients and the investor/insurer community," Mr. Knohl said.

REO.com's OMS product will act as the communication hub between agent networks and MortgageServ clients. MortgageServ clients will also have the opportunity to secure additional Internet marketing exposure for REO listings through REO.com's distribution partners.

Dana Keith, REO.com's other co-president, said his firm facilitates communication between asset managers and the real estate agents that are retained to sell foreclosed homes. While the company's website advertises homes directly to consumers, Mr. Keith told MSN that he believes real estate brokers will continue to play a role in most REO sales.