Fidelity Adds HELOC Servicing Functionality

Fidelity Information Systems, Jacksonville, Fla., is investing millions of dollars to enhance its home equity line of credit servicing functionality.Fidelity said about half of its Mortgage Servicing Package customers currently have the HELOC functionality installed in their organizations. MSP is used to service some 30 million mortgage loans. As part of the enhancements, Fidelity said it intends to provide MSP users with credit card interfacing for HELOC loans. Fidelity said Dovenmuehle Mortgage, EMC Mortgage, Navy Federal Credit Union, and Aurora Loan Services are among the firms capitalizing on the HELOC benefits.