JACKSONVILLE, Fla. – Fidelity National Information Services, Inc. (FIS) today announced that Wells Fargo Home Mortgage has signed a multiyear contract extension for FIS’ Mortgage Servicing PackageTM (MSP).
Wells Fargo currently services more than 7.9 million loans using MSP and has leveraged the MSP platform for more than 20 years. MSP is used in all areas of Wells Fargo’s mortgage servicing, including loan setup and maintenance, cashiering, escrow administration, investor accounting, default management and regulatory reporting.
“Through this industry-leading servicing platform, as well as other products and services, FIS delivers a great deal of value to Wells Fargo,” said Mary Coffin, executive vice president of loan servicing for Wells Fargo. “In fact, we have leveraged FIS’ professional services staff for numerous large projects, including our recent integration of 1.3 million mortgage customers – our largest acquisition ever. We have expanded our relationship with FIS because of the mortgage solutions they bring to the table.”
More than 50 percent of all U.S. mortgages are currently serviced on MSP, which helps lower the total cost of servicing for portfolios of any size. In addition to MSP, FIS also offers an entire suite of mortgage-related solutions to meet the needs of lenders and servicers, from origination through servicing and default.
“Wells Fargo is a leader in the mortgage servicing industry,” said Dan Scheuble, president of FIS’ Mortgage Processing Services division. “We value the close partnership we share and work to ensure Wells Fargo has the tools to deliver the best service to its customers.”
About Wells Fargo
Wells Fargo & Company is a diversified financial services company with $575 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the Internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest credit rating from both Moody’s Investors Service, "Aaa,” and Standard & Poor’s Ratings Services, “AAA.”
About Fidelity National Information Services
Fidelity National Information Services, Inc. (NYSE:FIS) is a leading provider of core processing for financial institutions; card issuer and transaction processing services; mortgage loan processing and mortgage-related information products; and outsourcing services to financial institutions, retailers, mortgage lenders and real estate professionals. FIS has processing and technology relationships with 35 of the top 50 global banks, including nine of the top 10. FIS is a member of Standard and Poor’s (S&P) 500® Index and has been ranked the number one overall financial technology provider in the world by American Banker and the research firm Financial Insight in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS maintains a strong global presence, serving more than 9,000 financial institutions in more than 80 countries worldwide. For more information on Fidelity National Information Services, please visit www.fidelityinfoservices.com.
Forward-Looking Statements
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission.