Alltel: Changes Worth $100MM.(Brief Article)

Alltel Information Services made almost $100 million of enhancements to its Mortgage Servicing Package last year, the company said.

Alltel said the clients of its mortgage servicing automation technology determined the value that was added by changes made last year.

Rob Lee, executive vice president of product strategy for Alltel Information Services, said that clients have estimated the value of enhancements for the past three years.

"If leveraged to their full potential, the value to those enhancements was estimated to be $99 million annually, which includes tangible and intangible costs, such as risk mitigation, increased productivity, reduced costs and revenue enhancement," he said.

In the past year, Alltel said it made 29 enhancements to MSP, its service to automate loan administration functions.

Among the enhancements were compliance with new privacy regulations, increased equity line of credit functionality to include construction loans, as well as capabilities surrounding delinquent loans, which were the most valuable enhancement as determined by the client base.

"Alltel is committed to continually investing in MSP to ensure it delivers value and benefits to our clients," Mr. Lee said.