GCC Servicing Systems, a provider of mortgage servicing technology and solutions, has released its Discharge Automation Module, automating the production of required loan pay-off documentation that servicers must send to the county discharging a lien. The Discharge Automation Module works with GCC’s G/SERV loan servicing platform to produce the discharges for loans that have been paid off. The module allows servicers to enter specific recording information into the system that needs to be captured on the document. In addition to creating the documents, the module enables servicers to track the discharge date to ensure that the document is sent within the allotted time after loan payoff and meets county- and state-specific requirements.
“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 Servicing Systems. “With the Discharge Automation Module, GCC takes the burden of correct timing and documentation out of the hands of our clients. This not only mitigates risks and saves time, but lets our clients spend more time with their borrowers.”
GCC’s G/SERV is a comprehensive platform that automates all functions of loan servicing, including loan set-up, cash management, escrow and insurance administration, investor reporting and accounting, default management and federal and state reporting.