Offering escrow, payment processing, investor reporting and default management, the technology will boost its customer experience and build its home loan servicing portfolio through its retail and correspondent channels nationwide.
Commenting on the new technology, Gateway Mortgage Group CEO Kevin Stitt said that the company has more than tripled its total mortgage origination volume over the last four years, but origination is the first step in the home loan process.
"LoanServ from Fiserv gives us the capability to significantly increase our servicing capacity and help us better serve our customers through the life of their loan," Stitt added.
With the LoanServ technology, data transactions are available online in real-time to ease compliance risk and eliminate the limitations associated with an end-of-day batch processing cycle.
The implementation of LoanServ will result in increased employee productivity, better operational efficiency, more effective reaction to changes in modification programs, including HAMP and HARP, and modernization the default process with workflow automation that reduces errors.
Established in 2000 and serving over $3bn in residential mortgages, Gateway Mortgage Group operates as a mortgage banking firm and specializes in originations, subservicing and correspondent lending.
