Infosys BPO partners US firm to provide mortgage solutions
BS Reporter / Bangalore Aug 25, 2009, 12:39 IST
Infosys BPO, the business process outsourcing subsidiary of Infosys Technologies, has forged an alliance with MortgageFlex Systems to provide offerings to the mortgage industry in the US .
MortgageFlex Systems is an origination and servicing technology solutions supplier for the US mortgage industry.
The Infosys-MortgageFlex partnership will offers a combination of loan modification services as defined under the Home Affordable Modification Programme (HAMP) or alternative loan modification programme.
“The partnership with MortgageFlex allows us to provide a unique offering to the US market. The combination of process capabilities and technology will allow lenders to compete effectively given emerging market dynamics,” said Ritesh Idnani, Head Worldwide Sales and Marketing and IBU Head, BFSI, Infosys BPO.
Infosys BPO has over 800 associates who work with the banking and mortgage clients in areas such as originations, servicing, secondary marketing, default management, collections and loan modifications.
I own a condo and have an outstanding balance of $140k, consisting of $104k primary and $36k secondary. I took the home equity to consolidate debts. At the time the property was valued at $163k but now it is valued at $134k. I'm looking to sell because i am engaged and will be moving into my fiancee's home. http://www.obamamortgagerelief.org/.If I have a buyer who offers me within say $5-7k of the outstanding, can i agree to assume a loan on the residual and pay the bank the difference over time with interest? The same bank holds both mortgages.
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