The recent boom in mortgage refinances has been a pleasant surprise for Cranbury, N.J.-based Visionet Systems Inc., the company said Wednesday morning. The company, which provides business process outsourcing and consulting services to the mortgage industry, said its business doubled in the first quarter of 2009. The company’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 in at 10,000 searches in March, and is continuing to grow, according to company officials. “The Visionet team is in a perfect position to help companies benefit from the boom with no investment in technology or mortgage savvy resource,” said Visionet president Arshad Masood. “They don’t need to scale up or down — we will do it for them.” BPO providers — that’s business process outsourcing, not broker price opinions — have been licking their chops as of late as the MBA dramatically revised its forecast for 2009 origination volumes, primarily due to a surge of refinancing activity. Executives in the space say that they see a number of new players that lack the capacity and technology to manage a steep growth curve, creating opportunity for outsourcing specialists to provide value. Write to Paul Jackson at paul.jackson@housingwire.com.
Paul Jackson is the former publisher and CEO at HousingWire.see full bio
Most Popular Articles
Latest Articles
Test
The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
-
Freddie Mac’s Donna Spencer on their Servicing Excellence initiative
-
Lower mortgage rates attracting more homebuyers
-
Rocket Pro TPO raises conforming loan limit to $802,650 ahead of FHFA’s decision
-
Show up, don’t show off: Laura O’Connor is redefining success in real estate
-
Between the lines: Understanding the nuances of the NAR settlement
Paul Jackson is the former publisher and CEO at HousingWire.see full bio