Gateway Mortgage Group, an originator and servicer of retail and wholesale mortgages, said it selected and successfully implemented GCC Servicing Systems' loan servicing platform G/SERV for real estate and home equity loans.
Kevin Stitt, Gateway Mortgage Group president, said, "To maintain better control and track our product performance, we decided the best long-term investment was to bring our mortgage servicing in- house from a sub-servicer.
"Our vice president, Roy Briggs, is a mortgage industry veteran and he did an outstanding job of leading our team with evaluating the various servicing programs and vendors. We looked at the bigger firms but decided GCC was a great fit with Gateway based on their capabilities, service and reasonable price point."
According to a release, on July 1, G/SERV -- GCC's servicing platform -- automated all of Gateway's loan servicing functions including loan set-up, escrow and insurance administration, payment processing, credit bureau reporting, HUD delinquency reporting, VA delinquency reporting, Fannie Mae investor reporting, Ginnie Mae pool reporting as well as the WHFIT (Widely Held Fixed Investment Trust) reporting required by Ginnie Mae. G/SERV also provides functionality for customer relationship management, delinquency management, bankruptcy management, foreclosure management, and loan modification management. In addition, Gateway chose to use the G/ SERV Web Portal to give its customers internet access for on-line payments and account review.
GCC President, Glenn Liebowitz, said, "Gateway is a dynamic player in the mortgage industry and we're excited to have been selected to be their provider for a loan servicing system."
Gateway is licensed to sell FHA and VA, conventional Fannie Mae, conventional expanded levels, and Jumbo loans in 25 states including California, Texas, Florida, Illinois, Michigan, Virginia, Arizona, and Indiana and services a loan portfolio of over $600 million.