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Home > Newsroom
> Press Releases (19th Mar 2007)
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Press Releases
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US Technology Launches Mortgage BPO Practice at the Gartner Outsourcing
Summit
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New Services Aim to Reduce Processing Costs by 40 Percent in 2007
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GARTNER Outsourcing Summit, Dallas, TX. – March 19, 2007 – US Technology, a leading
provider of IT services and Business Process Outsourcing (BPO) solutions for Global
2000 enterprises, today announced at the Gartner Outsourcing Summit the launch of
their Mortgage BPO practice. The US Technology 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 abilities to scale up or down during market fluctuations.
The Top Two Challenges Facing Mortgage Providers in 2007
Whether it comes to production or servicing, the overall highest expense for mortgage
providers is labor. In recent years, labor cost increases have put profit margins
under intense pressure and current market conditions continue to exasperate the
situation. In cyclical markets management needs to reduce overhead while retaining
core staff. The providers that are able to quickly respond to changing market conditions
will have a distinct advantage when it comes to controlling their labor costs.
The other key issue facing providers is the need to keep costs in line with incoming
revenue. Refinance booms over the last several years had made cost reduction a low
priority. However, with volumes dropping, costs must come in line with the current
volume.
Mortgage BPO Highlights
By relying on US Technology, providers can align costs with revenues while focusing
on their core business, strategic initiatives and opportunities to increase market
share in this challenging market. The Mortgage BPO Services from US Technology offer
the ability to quickly scale up and down staff, thanks to access to a large pool
of resources experienced in all facets of the mortgage business through a best-shore
sourcing model. Lay-offs will be minimized as providers are better able to respond
to cyclical markets and changing customer demands without an adverse impact on their
critical staff. US Technology can easily absorb the impact of fluctuating resource
needs, alleviating this burden in 2007 and beyond.
In addition, US Technology offers mortgage providers many industry-leading advantages,
allowing providers to retain valuable staff, maintain control, increase efficiency,
and reduce overhead. Those advantages include:
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Processing efficiencies that deliver additional cost savings through transaction-based
pricing |
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Proven processes that minimize the transition time and ensure full control of the
outsourcing team from the transition period through ongoing day-to-day operations |
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A Loan Origination System (LOS) inclusive of a pricing engine that alleviates purchasing,
licensing, maintenance and many other costs |
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Specialized Quality Control (QC) group for loan risk review from pre-close to post-closing
through investor pre-sale that utilizes automated systems |
"I can say with confidence that our team has the most hands-on mortgage industry
experience of any BPO provider – onshore and offshore – bar none," said Ram Dhindhwal,
president, BPO operations, at US Technology. "As a result of our extensive experience,
companies will be able to reduce their processing costs by at least 40 percent in
2007."
The US Technology BPO Advantage
US Technology is capable of meeting client needs on a global scale while possessing
all the attributes of an entrepreneurial firm. The company has more than 5,000 associates
and is backed by the $6 billion Comcraft group based in Geneva. For more information
please visit the Mortgage BPO Web page at: http://www.ustri.com/mortgagebpo.aspx.
About the Gartner Outsourcing Summit
The Gartner Outsourcing Summit is the only event designed to provide a comprehensive
view of the entire outsourcing arena to allow leaders from both business and IT
groups to come together; and offers a holistic understanding of all the options,
risks and opportunities available. The Summit provides unbiased, road-tested advice
and best practices necessary for setting outsourcing strategies and objectives,
evaluating and selecting the right services providers, managing relationships with
external partners and delivering profitable outcomes. Additional information is
available at
www.gartner.com/us/outsourcing.
About US Technology
US Technology is a leading provider of end-to-end IT services and BPO solutions
for the Global 2000 market. US Technology offers a "client-centric" global delivery
model that combines local, senior, on-site resources with the cost, scale and quality
advantages of offshore operations. The company is known for a relentless focus on
its clients, flexibility and commitment beyond contract. Headquartered in Aliso
Viejo, California, US Technology has more than 5,000 employees worldwide and is
certified globally as CMMI® Level 5, P-CMM® Level 5, and ISO 27001. For more information
visit: www.ustri.com.
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