ield, Mich.-based GCC Servicing Systems went live with the Government National Mortgage Association's (Ginnie Mae) new Report and Feedback System (RFS) on July 1, the company announced. As a part of Ginnie Mae's Business Process Improvement (BPI) initiative to reduce risk, mortgage loan issuers are required to provide timelier loan details through RFS. Issuers are required to begin using RFS by Oct. 1. GCC President Glenn Liebowitz praised Ginnie Mae for its work with the Mortgage-Backed Securities Administration Agents to implement RFS. "Ginnie Mae and its subcontractors did a great job in responding to the mortgage industry's requests to dramatically shorten the testing feedback cycle," he says. "Their quick turnaround allowed GCC to be one of the first organizations to test and go live.’ SOURCE: GCC Servicing
