âFIS is the first to combine all of the tools necessary to deliver a single solution for the loan acquisition and boarding market niche,â said Greg Whitworth, president of FISâ Loan Portfolio Solutions division. âIndustry feedback and research indicate that this market is highly inefficient and plagued with needless handoffs between isolated vendors that deploy myopic technologies. Until now, companies have been forced to pay the price for an uncoordinated market by tolerating duplicative work and needless delays in transaction cycle times. With the release of our proprietary technology, due diligence, analytic, valuation and document management solutions, FIS is the first to deliver a single end-to-end suite that reduces cycle times and expense while simultaneously managing overvaluation risk and fraud.â
In addition to providing comprehensive loan acquisition and boarding solutions, this new division also satisfies the needs of the secondary market by providing institutional investors with comprehensive credit analyses, compliance assessments and detailed valuations on all whole-loan purchase transactions and securitizations. FIS also provides portfolio surveillance for at-risk loans (90-day default) and postclosing quality control services.