Loan origination software provider ""Mortgage Builder"":http://www.mortgagebuilder.com/ announced Tuesday that it has reached an agreement to acquire ""GCC Servicing Systems"":http://www.gccservicing.com/, a leading loan servicing software provider.[IMAGE]
GCC is the creator of G/Serv, mortgage servicing software that automates servicing administration function. It is commonly used among mid-tier lenders and mortgage companies, a market[COLUMN_BREAK]
sector it shares with Mortgage Builder.
The acquisition of GCC will allow Mortgage Builder to offer a platform for lenders who would rather retain servicing rights without the use of a subservicer.
├â┬ó├óÔÇÜ┬¼├àÔÇ£More lenders need servicing software now than at any time in recent history,├â┬ó├óÔÇÜ┬¼├é┬Ø Mortgage Builder President and CEO Keven Smith said in a statement. ├â┬ó├óÔÇÜ┬¼├àÔÇ£With the acquisition of GCC, Mortgage Builder now offers a complete lending system that empowers lenders to control all aspects of the process. And with their common DNA, the platforms work extremely well together, making it far simpler for lenders to make smooth transitions into loan servicing.├â┬ó├óÔÇÜ┬¼├é┬Ø
The GCC staff will join Mortgage Builder. GCC will operate as a separate division with Jeff Augenstein, vice president of GCC, responsible for the day-to-day operations.
Mortgage Builder provides loan origination software to mortgage banks, credit unions, and other financial institutions. GCC Servicing Systems, known as Glenn Computer Corporation until 2003, is a mortgage servicing software provider. Both companies are based in Southfield, Michigan.