Mortgage Builder, a loan origination software provider, acquired acquire GCC Servicing Systems, a loan servicing software provider that shares 35 years of history with its new owner.

GCC is the creator of G/Serv, a mortgage servicing software popular with mid-tier lenders, community banks, credit unions, and mortgage companies, a market sector also well-served by Mortgage Builder. The teaming of the two technologies comes at a time when many lenders are retaining servicing rights and responsibilities rather than using subservicers and selling loans on a servicing released basis.

“More lenders need servicing software now than at any time in recent history,” says Keven Smith, Mortgage Builder’s CEO and president. “With the acquisition of GCC, Mortgage Builder now offers a complete lending system that empowers lenders to control all aspects of the process.”

GCC Servicing Systems was founded in 1977 as Glenn Computer Corporation by Glenn Liebowitz in Southfield, Mich., as a mortgage servicing, loan origination, and accounting service bureau. The loan origination product was spun off in 1998 to become Mortgage Builder Software. G/Serv brings Mortgage Builder a comprehensive loan servicing platform that automates all servicing administration functions, along with default management and full reporting capabilities. Like Mortgage Builder, G/Serv has evolved greatly since it was first released, and is now designed for Software as a Service delivery for fast, cost-effective implementation, and is hosted in a SAS-70 Type II/ SSAE-16 Type II compliant data center.

 

 

[This article was posted on June 5, 2012, on the website of ABA Banking Journal, www.ababj.com.]       

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