In recent testing, a single copy of Fiserv's MortgageServ system on a single-image IBM hardware platform successfully processed 10 million loans during a single nightly window, according to Fiserv.Benchmark results of the testing -- conducted by IBM Capacity Planning Services, Cary, N.C., under the direction of BearingPoint Inc. -- indicated that the system would scale beyond that if used in an IBM Sysplex environment, Fiserv said. Sadu Thinakal, president of Fiserv Mortgage Servicing Systems, said the Fiserv system's proven scalability would eliminate the need for mega-servicers to break their portfolios into artificial segments that require multiple company numbers. "MortgageServ has no such technology or architectural limitations, eliminating the unnecessary processing complexities and bottlenecks that stand in the way of growth and profitability," Mr. Thinakal said. Fiserv can be found on the Web at http://www.fiserv.com.
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Regulators specifically called out Academy's directors for their failure to properly oversee operations and conduct audits in a consent order.
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The structure contains seven tranches of class A notes, including two tranches for first cash flow and last cash flow, both initially exchangeable.
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