TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/74422
ON THE WEB Web-Based Companies Invest in Research Competitive providers of mortgage industry technology strike an acquisition agreement, while real estate websites roll out proprietary studies. INSIDE THE INDUSTRY Mortgage Builder Acquires GCC Servicing Systems ANNOUNCING THE COMPANY'S BUYOUT OF GCC, MORTGAGE BUILDER SEEKS TO CAPITALIZE ON NEW SERVICING TRENDS AMONG MORTGAGE LENDERS. been bought out by industry competitor Mortgage Builder. The two companies recently reached an agreement, citing the trend among lenders of "retaining servicing rights and responsibilities rather than using GCC Servicing Systems has 10 | THE M REPORT subservicers and selling loans on a servicing-released basis," as a chief catalyst behind the acquisition. GCC's staff will join Mortgage 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," he notes. "And with their common DNA, Builder following the transac- tion, and GCC will operate as a separate division of the company. Jeff Augenstein, VP of GCC, will now be responsible for the day- to-day business operations of the new segment. "More lenders need servicing the platforms work extremely well together, making it far sim- pler for lenders to make smooth transitions into loan servicing." Kelli Himebaugh, Mortgage NTC Offers Support, Resources to Congress Builder's corporate VP, stated, "This acquisition puts Mortgage Builder into a unique class of technology providers. As a nimble, independent company, we are well accustomed to work- ing with regional and mid-tier lenders. We can now bring our highly personalized approach to lenders choosing to become ser- vicers to maximize returns and improve borrower service levels. "A new era is dawning for the mortgage industry and with the addition of GCC, we are able to provide a full range of excep- tional technologies for America's lenders," added Himebaugh. THE RESEARCH FIRM SPEAKS TO MEMBERS OF THE HOUSE TO EXTEND A HELPING HAND TO LAWMAKERS GRAPPLING WITH SOLUTIONS FOR THE ONGOING MORTGAGE CRISIS. officers of Nationwide Title Clearing (NTC) to discuss multiple issues in today's residential mortgage industry. In a company statement, NTC said it hoped to "offer the company's support as a resource" as members of Congress strive to cre- ate industry-wide best practices. NTC, a privately held docu- ment, research, and land records Lawmakers came together with