Business Process Outsourcing Business Doubles in Q1 2009 due to Mortgage Re-Fi Boom
Press Release - April 2009
Contact: Arshad Masood |
FOR
IMMEDIATE RELEASE April 7, 2009 |
Visionet Systems' Business Process Outsourcing Business Doubles in Q1 2009 due to Mortgage Re-Fi Boom
Cranbury, NJ, April 7, 2009 – The recent Re-Fi boom has been a pleasant surprise for Visionet Systems. The Mortgage Bankers Association has dramatically revised its forecast for 2009 mortgage refinancing saying it expects lenders will fund $1.96 trillion in refinance this year. Last year, by comparison, lenders refinanced only $765 billion in loans.
Visionet’s business increase was mostly in three areas: title processing, loan modifications and forensic analysis. As the mortgage industry has severally curtailed its employment ranks over the last two years, Visionet’s title search volume clocked at 10,000 searches in March and is continuing to grow. There are a number of new players in the mortgage space who need urgent help in technology and knowledge intensive outsourcing. If these companies take the traditional route of absorbing new technology and processes it would be too late for them to benefit from this sudden boom in business.
"We have the domain expertise, technology, and business process outsourcing capabilities under one roof" said Arshad Masood, President of Visionet. "The Visionet team is in a perfect position to help companies benefit from the boom with no investment in technology or mortgage savvy resources. They don’t need to scale up or down - we will do it for them."
About Visionet Systems
Cranbury, N.J.-based Visionet Systems is a full service mortgage consulting and business process outsourcing company that delivers products in the best-of-breed philosophy. Using a combination of consulting, metrics-based technology solutions, and business process outsourcing, Visionet Systems helps lenders identify and remove inefficient business processes and technologies to improve profitability. Founded in 1995, the company’s customers include mortgage bankers and servicers.
For more information, visit www.visionetsystems.com
Email us at clifford.johnson@visionetsystems.com or call 609-409-1063 x1116.
Visionet Systems Inc.
www.visionetsystems.com
4B Cedar Brook Drive
Cranbury, NJ 08512
Phone 609.452.0700
Fax 609.655.5232
clifford.johnson@visionetsystems.com
