July 31, 2006
Now It's the Turn of Mortgage Lenders to Join Outsourcing
In the past couple of years, we have been receiving news on how industries one after another are outsourcing their jobs to low-wage destinations. Now it's the turn of mortgage lenders to join outsourcing wave. According to NelsonHall, the leading independent BPO analyst firm, mortgage lenders in the United States are outsourcing their work to India and other countries. In the recent months, mortgage industry has emerged as a strong force in the US and elsewhere in the world.
The high demand in mortgage products and services has forced the lenders to choose third party companies that can manage their work efficiently and effectively. Now customers want their mortgage BPO providers to add cost of processing to volume processing so that costs can be better matched to business volumes. It forced mortgage organizations to look for an improved process compared to their in-house capability. According to NelsonHall report, the global mortgage BPO market will double in size over the next five years.
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