GCC Servicing Systems goes ‘live’
with new Ginnie Mae reports
SOUTHFIELD, MI – July 28, 2009 – Southfield-based GCC Servicing Systems became one of the nation’s first mortgage servicing platforms to “go live” with Ginnie Mae’s (Government National Mortgage Association’s) new Report and Feedback System (RFS) on July 1, 2009.
As a part of Ginnie Mae's Business Process Improvement (BPI) initiative to reduce risk, mortgage loan issuers are required to provide timelier loan details through RFS. If issuers did not begin using RFS on July 1, 2009, they are required to start using it on October 1, 2009.
Glenn Liebowitz, GCC president, said, “Since our team is ahead of the curve and innovative, we can quickly respond to regulatory changes like RFS so our clients don’t incur added stress or costs.”
He complimented Ginnie Mae’s work with the Mortgage-Backed Securities Administration Agents (MBSAA) to implement RFS. “Ginnie Mae and its subcontractors did a great job in responding to the mortgage industry’s requests to dramatically shorten the testing feedback cycle. Their quick turn-around allowed GCC to be one of the first organizations to test and ‘go live.’”
GCC Director of Sales, Brain Dharte, said, “Many medium size and community banks have discovered RFS is a major task. We welcome the opportunity to assist those folks with their RFS and mortgage loan servicing needs.”
About GCC Servicing Systems
GCC Servicing Systems was founded in 1977 as a mortgage service bureau. Known as Glenn Computer Corporation until 2003, GCC Servicing Systems is a mortgage servicing software technology and service provider that cost-effectively automates all aspects of loan servicing and data management. Customers include mortgage servicing departments of banks, credit unions and mortgage companies with 500 to one million loans. Based in Southfield, Michigan, the company’s mortgage servicing solutions, superior customer support and cutting-edge technology (G/SERV) are available 24 hours-a-day, seven days-a-week, 52 weeks-a-year. For more information, visit www.GCCServicing.com.
Media Contact: Alex Cooper, The Cooper Group, 248-398-2667,
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