GMAC Mortgage has selected Fiserv's MortgageServ system, integrated with its InformEnt mortgage data warehouse, as its single platform for the servicing of both residential and consumer loan products.
From its operational centers in Pennsylvania, Iowa and Connecticut, GMAC Mortgage services a portfolio of more than 2 million mortgages, home equity lines of credit and consumer loans totaling over $205 billion.
One of the nation's leading private label sub-servicers, GMAC Mortgage will use MortgageServ's private-label sub-servicing functionality, called PL$$, to process each sub-serviced portfolio segment on the same platform that it uses to service its own large portfolio.
"GMAC Mortgage requires a solution that supports the multiple dimensions of our loan portfolio's scale and scope," according to Ralph Hall, COO at Horsham, Pa.-based GMAC Mortgage.
GMAC Mortgage is focused on optimizing the efficiency of its servicing operation, reducing costs and increasing profitability, said Anthony Renzi, executive vice president at GMAC Mortgage.
"By building a single platform that we call the debt service utility, we can maximize the effectiveness of employees and facilities," Renzi added. "Regardless of the type of asset,whether it is ours or a private-label account, the employee will rely on the MortgageServ system to guide them through servicing tasks."