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Wipro Gallagher Solutions Introduces Loan Process Outsourcing

NationalMortgageProfessional.com
Sep 30, 2010

Franklin, Tenn.-based Wipro Gallagher Solutions (WGS), a provider of cost-effective, end-to-end loan origination technology and fulfillment services for mortgage lenders, has combined its fully hosted and managed origination system, NetOxygen Cirrus, with the award-winning loan processing services from Wipro into a complete end-to-end loan fulfillment and servicing platform. This new business line enables lenders to focus their efforts on generating revenue while using WGS to perform the loan fulfillment, loan sub-servicing and vendor management tasks. WGS’ new offering was designed to be a part of a long-term strategic solution for mortgage lenders as opposed to a temporary way to cut costs. Among other benefits, the outsourcing platform: ►Reduces operational costs ►Increases speed to market ►Improves customer service and the ability to quickly adjust for production peaks “Flexibility is the key component of the WGS solution; our customers are able to utilize WGS for complete end-to-end fulfillment or for specific functions within the loan process,” said Anil Raibagi, general manager and business head at WGS. “This new platform also provides our services on a variable pricing structure, enabling clients to gain the maximum skill sets.” Key features of the loan servicing and fulfillment platform include: ►The reduction of costs experienced is approximately 30 percent or more over the existing infrastructure. ►The WGS operational environment is designed on a per-file basis as opposed to a fixed-cost structure; this allows lenders to reduce unused capacity to zero and the average lender’s cost per loan remains constant regardless of fluctuations in the number of loan files within a given month. ►An immediate improvement in production efficiency is through the expanded hours of staff availability either through a staggered or an overnight staffing model. By adjusting the availability of employees both domestically and globally, loan delivery times can be drastically reduced while increasing service levels with minimal or no cost increase to a lender. WGS’ strategic approach also works to increase production efficiency, applies solid governance, uses solid communication and defines metrics and service levels. WGS offers mortgage lenders a flexible and experienced staffing platform backed by hosted technology at a competitive price. Its partnership approach with its clients empowers them to focus on their core business of generating revenue while WGS manages the back-office process in a secure and quality-driven platform. For more information, visit www.gogallagher.com.  
Published
Sep 30, 2010
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