Banking and Financial Services Outsourcing

The real estate crisis in the US was caused by mortgage delinquencies and foreclosures, originating in the subprime segment, then drawing other segments into it as well. This crisis first impacted the loan originations side of the business, and the focus later shifted to the loan servicing side as the delinquency rate increased. The factors causing continued downturn are, in fact, interlinked. Unemployment rate in the US has been around 9.5 percent for the last 12 months which has led to delinquency and foreclosures. This, in turn, has driven the need for loan modification programs and other loss mitigation options by the federal government. The outsourcing industry can be of immense support to mortgage-servicers and borrowers during evaluation of home-owners for these alternative programs before starting foreclosure proceedings. WNS’s next generation of process management and progressive approach to transforming business along with predictable operations outcomes can help soften the blow for the mortgage industry.