LoanCare launches CoreSync API solution for mortgage servicing integration
LoanCare, a mortgage subservicing company and part of Fidelity National Financial (NYSE: FNF), announced the launch of CoreSync, an API-integrated solution that allows financial institutions to embed mortgage servicing functions directly into their mobile applications and websites.
The solution enables customers to make mortgage payments, transfer funds to home equity line of credit accounts, and set up automatic payments without leaving their financial institution's digital platforms. Users can also access real-time loan balances, review amortization schedules, view documents, and request payoff quotes through the integrated system.
CoreSync provides synchronized data to branch-level staff to support in-person customer service. The Virginia Beach-based company said the first CoreSync integration is operational at a national lender, with broader availability expected in early third quarter.
"The concept of private-labeled subservicing isn't new: for years, IVR systems and call centers have answered calls in the clients' names; and subservicer websites have tried to emulate client branding and customer engagement guidelines," said Dave Worrall, president of LoanCare. "But there have always been digital speed bumps in this experience."
The solution targets independent mortgage banks, traditional banks, and credit unions that use LoanCare's subservicing. LoanCare provides mortgage loan subservicing for financial institutions and has operated for more than 40 years, according to the company's announcement.
