GCC Servicing Systems Assists Clients With Specialty Servicing Needs

""GCC Servicing Systems"":http://www.gccservicing.com/index.php, a Michigan-based provider of mortgage servicing technology and solutions, has announced the availability of a new investor accounting and reporting component through the company's professional services suite.

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This new offering enables servicers to meet the accounting and reporting requirements of Fannie Mae, Freddie Mac, the Federal Housing Administration (FHA), and the USDA's Rural and Community Development loan program.

It includes agency default reporting, and GCC says its professional services team works with each servicer to establish the needed data requirements and customize the functionality, such as for independent investors.

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By offering the product through its professional services suite, GCC enables servicers to utilize the benefits of the investor accounting and reporting module without licensing the entire G/SERV loan servicing platform or incurring the cost of a new system.

""In this market, it is necessary for technology providers to be flexible and work around the needs of the servicer,"" said Glenn Liebowitz, president of GCC. ""Through our professional services suite, GCC has found a way to provide servicers with the best of our technology, while not forcing them into a system conversion in this down market.""

GCC receives the necessary data through a data feed from the servicers system of record, runs the data through, and manages the accounting and reporting of the data directly to the agencies. All finalized reports are available through a Web-based portal.

Camden, Maine-based Camden National Bank utilizes GCC's investor accounting and reporting services specifically for its portfolio of Rural Development loans and the necessary quarterly reporting to the Department of Agriculture.

""Our loans are serviced through our banking platform which lacks the capability needed to accommodate reporting requirements,"" said Bernard Predham of Camden National Bank. ""GCC provides us with the reporting capabilities we need while allowing us to work with the system we already have. This gives us more functionality for our money.""