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Horsham, PA-The combination of meeting profit goals and consumer expectations while working within the constraints of antiquated servicing platforms or costly overhead has frustrated many lenders, according to GMAC Mortgage Corporation, which offers subservicing to lenders.
And the more complicated the loan, the more complex the servicing requirements. GMAC's Client Branded Solutions division provides subservicing under the client's own name, so that consumers don't know loan administration has been outsourced. Private label subservicing is a solution to complex servicing problems, such as those associated with home equity lines of credit, said Anthony Renzi, senior vice president of...