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Home > Newsroom
> Press Releases (19th Jan 2008)
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Press Releases
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UST Global Signs Agreement with one of the top Five Mortgage Lenders
in the Nation for Quality Control Services
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ALISO VIEJO, Calif. – June 19, 2008 – UST GlobalSM(UST), a leading provider
of IT services and BPO solutions for Global 2000 enterprises, announced today that
it signed two agreements to provide quality control services to the FHA lending
division of one of the top mortgage lenders in the nation. The client is a leading
national lender and thrift that provides financing secured by single-family homes
and other banking products to facilitate consumers’ personal financial goals. UST
has been engaged to conduct quality control reviews of post-closing loan origination
as well as to manage the quality control analysis and reporting for the servicing
processes of FHA/VA loans.
The mortgage lender has been steadily growing their government lending division
and wanted to ensure that there was proper quality control oversight for both loan
origination and loan servicing. They were searching for a third-party BPO partner
that would provide expertise in government lending, leading practices in mortgage
quality control and arms-length objectivity. They also wanted a partner that could
provide transactional pricing which would allow them to scale their operation without
staffing a department for peak volumes or risk understaffing such an important function.
It was essential for them to keep costs contained at a time when loan volumes have
been unpredictable.
With this criteria in mind, the client investigated several BPO providers and selected
UST Global. "It was important to our client that they chose a partner with deep
industry experience that really understood the criticality of the quality control
process to their success," said Ram Dhindhwal, general manager of mortgage BPO operations
for UST Global. "UST has the experience and discipline to meet this challenge and
we were able to demonstrate that."
UST Global will conduct quality control loan audits for both funded and rejected
loans in compliance with HUD’s guidelines. The mortgage loan file documents (promissory
notes, deed of trust, application, verifications, etc.) are reviewed by UST for
correctness, authenticity, completeness and document quality. UST will report initial
findings and exceptions to the client within 30 days of receiving the loan files
and release a final findings and exceptions report to the client within 60 days
of receiving the loan files.
In addition, UST will conduct monthly and quarterly audits on a statistical sampling
of the client’s government servicing portfolio. The base audit will include the
verification of proper loan boarding, payment processing, escrow review, payoffs,
prepayments, and fees/charges. For delinquent loans, UST will conduct loan-level
reviews for processes including collections, loss mitigation, foreclosure, bankruptcy,
ARM adjustments and claim filings to ensure that they are in compliance with HUD
guidelines.
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About UST Global Mortgage BPO Practice
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The UST Global Mortgage BPO practice, which ranges from loan origination processing
or any portion thereof to loan servicing, helps mortgage lenders and mortgage services
providers significantly reduce their back office processing costs while improving
processing efficiencies. The BPO services enable lenders and service providers to
retain complete control of their operations while providing them with the ability
to scale up or down during market fluctuations.
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About UST Global
UST GlobalSM is a leading provider of end-to-end IT services and BPO solutions for
the Global 2000 market. UST Global offers a Client-centric Fully Integrated Engagement
Model that provides the optimal mix of senior local resources with the cost, scale
and quality advantages of offshore operations for each client. The company is known
for its relentless focus on clients, flexibility, and commitment beyond contract.
Headquartered in Aliso Viejo, California, UST Global has more than 5,500 employees
worldwide and is certified globally as CMMI® Level 5, P-CMM® Level 5, and ISO 27001.
For more information visit: www.ust-global.com.
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