Baird economist doesn’t foresee double dip; Fiserv renames Loan Servicing Platform
Baird economist doesn’t foresee double dip
Robert W. Baird & Co. Inc. chief investment strategies Bruce Bittles says that the threat of a double-dip recession is receding.
“The latest economic data shows the U.S. economy less vulnerable to slipping into a double-dip recession. The August Employment Report showed nonfarm payrolls fell 54,000 but the loss was less than expected. The report showed private sector job creation averaged just 78,000 over the past three months. Job growth is less than sufficient to allow for upside revisions to GDP but does indicate the economy is not worsening,” Bittles wrote in his Morning Call bulletin today. “The ISM Manufacturing Composite Index surprised on the upside as most economists had forecasted a sharp decline, and together with the jobs numbers was a strong enough reason to relieve concerns of another recession this year.”
Bittles predicted that the stock market will be strained with uncertainties over the next round of quarterly earning reports and the November elections. However, once those uncertainties are resolved, the market may be poised for a strong rally in November and December, he wrote.
Fiserv renames Loan Servicing Platform
Fiserv Inc. has renamed its Loan Servicing Platform to LoanServ.
As a single-platform, real-time solution, LoanServ combines mortgage loans, consumer loans, indirect financing, home equity loans and lines-of-credit and distressed-loan functionality into one core system so that all of a borrower’s retail loan relationships can be supported on one platform, creating efficiencies and convenience for financial institutions.
Most recently known as the Loan Servicing Platform from Fiserv, LoanServ grew out of the company’s MortgageServ solution, which at the time was the first web-enabled, real-time solution for all aspects of mortgage servicing and management. As the financing needs of borrowers evolved over the past decade, Fiserv invested in a development strategy to add support for not only home equity loans and lines of credit but for other retail loan products as well.
"The name change is a significant statement about our vision," said Thomas Gorman, president of loan servicing solutions at Fiserv. "One of our greatest challenges is ensuring that product innovation is not only a ‘good idea’ but is also a fundamental contribution to business process improvement. LoanServ is a powerful solution that ultimately offers a diverse range of financial institutions greater control over their operations and more flexibility to support products, policies, regulatory changes and customer relationships."