Fidelity Releases Web-Based Loan Workout Tool.(Fidelity National Information Solutions Inc.)

Jacksonville, FL -- With a universal mandate to work out thousands of loans, lenders are desperately looking to technology for help. Fidelity National Information Services Inc. has built a new Web-based loan-modification and electronic-signature utility for its ClosingStream e-mortgage technology platform.

The system, built specially for an unnamed FIS bank partner, is designed "to help lenders save money by limiting adjustable-rate mortgage reset servicing costs, while reducing the loan-modification and electronic-signature timeframe from the typical eight to 10 days down to as little as a matter of minutes."

The ClosingStream loan-modification and electronic-signature solution is available in a service model or as a private-label application. "Customers are able to conveniently e-sign documents virtually anywhere, anytime - at home, at the office or on vacation," said Ron Frazier, president of the LSI division of FIS.

"The e-sign feature provides benefits to both the customer and lender by providing an effective and efficient method to present, review and sign most document types. By using our technology, most documents are signed within hours, sometimes minutes vs. the days that ...