A new Fiserv Lending business unit aims to help mortgage-backed security investors identify and mitigate risks in their portfolios. The company, Fiserv Lending Solutions’ Portfolio Services, joins Fiserv’s fulfillment division.

“We help firms get comfortable with what they are paying for when they have a portfolio of residential mortgage loans,” said James L. Smith, recently hired as executive vice president of FLS-Portfolio Services. “That helps facilitate whole-loans sales transactions of their mortgage-backed securities for Wall Street firms.”

The mortgage-backed security market is mysterious and complicated to many, and the company aims to help investors enter the secondary market for portfolio loans with ease.

Smith brings more than 15 years of experience in private placement securities, appraisal reviews for the secondary market, non-conforming lending and financial management to the new company. Smith has held senior management positions at Nationwide Portfolio Services, Fidelity Hansen Quality, JLS Financial Services, Old Kent Mortgage Co. and Southern Pacific Funding Corp.

Other members of the company’s management team have broad backgrounds in residential mortgage originations, capital markets, home equity, credit and audit industries. 

The service is customized to the secondary market. FLS-Portfolio Services has in-house appraisers who are independent of the lending business and experienced in auditing closed loans.

If appraisers identify a property as a potential high risk, the company offers risk assessment tools allow further examination of the property, he added.

***

Send tips or a Letter to the Editor to jessica@inman.com or call (510) 658-9252, ext. 133.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×