Loan origination software company Mortgage Builder is expanding its platform with the acquisition of GCC Servicing Systems, which has 35 years of experience in offering loan servicing software.
Southfield, Mich.-based Mortgage Builder currently has 150 clients using its loan origination system.
After the transaction closes, all of the GCC staff will be joining Mortgage Builder, bringing the company's total staff to 65 employees. Once on board, the GCC staff will become the servicing software segment of Mortgage Builder, essentially expanding the firm's reach beyond origination. Jeff Augenstein, vice president of GCC, will oversee day-to-day operations of the company.
"More lenders need servicing software now than at any time in recent history," said Keven Smith, Mortgage Builder’s CEO and president. "With the acquisition of GCC, Mortgage Builder now offers a complete lending system that empowers lenders to control all aspects of the process."