GCC Servicing Systems released a new module to its Web-based servicing system of record to automate creation of lien release documentation.
Servicers use the module to enter specific recording information into its G/SERV loan servicing platform to generate the discharge document that servicers submit to county recording offices when borrowers pay off their mortgages. This process saves time and promotes efficient and accurate processing of the lien releases, according to a company press release.
“Our goal at GCC is to automate as much of the servicing process as possible so that our clients do not have to worry about the nuances of compliance,” said Glenn Liebowitz, president of GCC.
Southfield, Mich.-based GCC’s technology is typically used by small to mid-size lenders like community banks and credit unions. The technology is Web browser-based; enabling these smaller entities to use servicing systems of record over the Internet, instead of hosting the technology themselves. The G/SERV platform and affiliated modules include automated functions for loan set-up, cash management, escrow and insurance administration, investor reporting and accounting, default management and federal and state reporting.
