Mortgage banking companies looking to outsource some of their operations can look to a brand new ranking for the best global outsourcers.
The International Association of Outsourcing Professionals recently released its inaugural 2006 The Global Outsourcing 100, which is reportedly composed of 65 leaders, or larger, established companies, and 35 rising stars, which are smaller, growing companies based on revenue.
"Selection to The Global Outsourcing 100 was based on a rigorous application process based on the critical factors for long-term outstanding success," the association's Executive Director Michael F. Corbett said in an announcement."
"These companies -- all at the top of their field -- demonstrate the quality and diversity of the outsourcing solutions available to customers today," he added.
One of the world's top outsourcing service providers for 2006 is reportedly Ocwen Financial Corp., a Florida-based company says it is the largest global outsourcer of transaction processing solutions for the mortgage industry.
Equinox, a provider of mortgage processing, customer relationship management and transaction processing, also encompassed the list.
The list also included WNS Global Services, which says it processes over 25 million document pages each quarter. The outsourcer, with U.S. headquarters in New York, provides mortgage loan processing, underwriting and loan servicing among its services and says its clients include two of the top 15 U.S. wholesale mortgage lenders.
Another honoree was Unisys, reportedly a Pennsylvania-based supplier of hardware, software and managed services, including quotation, origination, servicing and outsourcing, for mortgage companies.
SITEL, which says it provides lead generation and application processing for mortgages, was also on the list.
SAIC, an information and communication technology management outsource provider, says one solution it offers mortgage companies is the Automated Data Analysis and Mining service bureau, which allows for large numbers of public-record searches and serves to detect fraud, among other uses.
Also on the list was Accenture, which a few years back signed an agreement to work with Financial ServiceSolutions LLC to provide mortgage origination and fulfillment business process outsourcing in the country.
Wipro Technologies, which says it processes mortgages, was also recognized as well as Massachussetts-based Sapient, United Kingdom-based Vertex, and IKON Office Solutions, which reportedly provides document management and facility services, among other things.
The list also included OfficeTiger, which recently acquired MortgageRamp, a provider of business-process outsourcing and technology solutions for the global real estate finance industry.
Overall outsourcing revenue and employment grew by 15% in 2005, the association said.
"It's a truly global industry, with the average outsourcing company now employing 10,000 people at production operations in eight countries and client-facing operations in 13," the organization added.