Market Analysis: Look At The Landscape

*Look At The Landscape*
**By Tony Garritano**

***Excuse me today my friends. I’m a bit tired. I was up until 3 a.m. waiting for the results of the Iowa Caucus. My friends know that I’m a political junkie. What happened yesterday in my view was amazing. A conservative state voted for a candidate that didn’t match their ideals absolutely. Why did they do that? Because Iowans realized that it’s not about who is the most conservative, it’s about who can save our country from the failed policies of this White House. Kudos to Iowans for reassessing the landscape and taking a second look to pick the most electable, and competent, candidate. Similarly, prominent mortgage technology vendors are always reassessing the best way to serve this ever-changing mortgage market. For example, PROGRESS in Lending has learned that Franklin, Tenn.-based Wipro Gallagher Solutions has redefined its fulfillment offerings to more clearly meet the demands of loan originators and servicers for middle- and top-tier lenders. What does that mean? Here’s the scoop:

****For originators, WGS has revised its BPO offerings depending on the lender’s volume of originations and service offerings. WGS now offers originators its services through the following packages:

****>> Platform BPO Fulfillment Solution– offers an end-to-end mortgage origination fulfillment solution including all services from the point of application. Utilizing shared resources and technology based out of the Nashville Delivery Center.

****>> Integrated BPO Solution– tailored to meet the client’s specific needs and is inclusive of support-functions in the areas of loan processing, loan underwriting analysis, closing, funding coordination and post-closing delivery. The delivery staff works within the client’s existing technology and workflow process.

****>> Traditional BPO Solution – provides support for lenders on full functions within the loan process such as processing or post closing or sub-functions of these roles. Clients provide the standard loan lifecycle processing functions while WGS’ global team provides integrated back-office support. Work is performed based upon client-specific processes and procedures.

****For loan servicers, WGS now offers the following product suites tailored to fit their needs:

****>> Complete Subservicing Offering– supplies a complete private-label solution in partnership with a leading U.S.-based sub-servicer. This end-to-end offering enables significant per loan cost savings to each client.

****>> Back Office BPO Solution– supports full functions within the servicing stream including payment processing, reconciliations, loan modification, loss mitigation, and more. The delivery staff works within servicer’s existing technology and workflow process.

****“Wipro Gallagher Solutions has reorganized its private-label BPO offerings into packages that are simple to understand and are tailored to specific markets,” said Narayan Bharadwaji, business head for WGS. “The new packaging better serves our customers to fit their specialized needs and provides more flexibility to enable our customers to focus on their core business and target markets.”