GMAC Hopes to Benefit from 'Flexibility'
GMAC Residential, which is migrating from the Excelis servicing platform to Fiserv's, hopes to benefit from the "flexibility" afforded by its new system, according to chief marketing officer Richard Gillespie.
Currently, GMAC subservices about $8 billion of loans for other parties. It is also one of the nation's longest standing top 10 servicers of loans in its own right, with a portfolio of mortgage servicing rights on $199 billion of home loans at the end of last year.
"Servicing has been a core competency of ours for some time," Mr. Gillespie told MSN recently.
He said GMAC's goal is to become "a utility servicer" able to manage a wide variety of loan products, and the Fiserv system will over time afford GMAC more flexibility to achieve that.
"There are a lot of bells and whistles that come with the new system that were hard to get with the old one," said Ralph Hall, GMAC Residential's chief operating officer.
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