Chase Picks Fiserv Servicing Platform

Chase has selected Fiserv's mortgage servicing platform, MortgageServ, to complete a formal due diligence to replace and "substantially upgrade" various legacy platforms for servicing its $515 billion portfolio, the companies have announced.Scott Powell, Chase's head of servicing, said Chase plans to "consolidate and upgrade" its platform to help expand the company's mortgage business. (Chase recently announced plans to add 800 mortgage officers, an increase of 30%, over the next year.) Leslie M. Muma, Fiserv's president and chief executive officer, said the servicing platform will enable Chase to integrate delinquency and default management into its core servicing system and will provide "the flexibility to roll out new products quickly to meet customer needs." The companies can be found online at http://www.jpmorganchase.com and http://www.fiserv.com.