VIENNA, Va. – Navy FCU has committed to extending what so far is its 27- year relationship with Fidelity Information Services and signed a multi-year renewal contract for Fidelity's mortgage servicing package (MSP). The credit union uses MSP to automate all areas of its loan servicing. The product reduces overall servicing costs and promotes increased productivity. Navy uses MSP as the single platform for servicing traditional mortgage loans and equity loans. Navy has also committed to serving as a beta partner for MagnifideT MSP, the new re-architected servicing system from Fidelity, a division of Fidelity National Financial Inc. The credit union says the new system will its Navy's mortgage products. Navy first signed its servicing contract with Fidelity in 1978 and did its first loan application with the servicing package in 1979.
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