Gateway Mortgage Group is now using Fiserv’s LoanServ mortgage servicing platform in line with the bank’s expectations to grow the home loan servicing portfolio through retail and correspondent channels.
According CEO Kevin Stitt, over the last four years Gateway more than tripled the mortgage origination volume and currently services roughly $3 billion in residential mortgages. Using the right technology for this part of the home loan process is crucial to Gateway’s ability “to significantly increase” servicing capacity and improve customer service “through the life of their loan.”
Currently, Gateway primarily services Fannie Mae and Ginnie Mae loans from more than 20 states but plans to broaden its capabilities to support other loan programs. LoanServ will serve as a loss mitigation workflow tool that will help Gateway’s borrower outreach efforts from its two call centers in Tulsa and Norman, Okla.
LoanServ automates all loan servicing processes, including integrated default management and collections, cashiering, escrow and investor accounting for both closed-end and revolving loans. Available online in real-time data transactions also help ease
According to Kevin Collins, Fiserv’s president of lending solutions, the partnership will support Gateway’s operations “as it gears up to take advantage of the increase in activity in the secondary market,” which requires diverse lending tools including the flexibility required by a company the size of Gateway.
