8 Kasım 2007 Perşembe

US Mortgage

The industry presently employs about 7,500 people in this sector. Keeping in view the research report entitled "BPO Opportunities in the US Residential Mortgage Market" by Trinity Business Process Management and Avendus Advisors, the offshore addressable BPO market size for the US residential mortgage ecosystem is in the range of $6 billion to $7.4 billion. According to Trinity's VP - sales and marketing, Francesco Paola, the future growth of BPO will be driven by an increased focus on domain-specific vertical processes that provide not only cost savings, but other long-term benefits in the areas of productivity and capacity management for the client.
Prevailing Interest Rates In The Mortgage Market of USAA brief idea can be given with regards to the interest rates prevailing in the Mortgage market of USA.

Mortgage Type Tenure Interest Rates % Loan To Value Ratio Max Tenure Of Loans

Fixed Rate Mortgage 15 Years/30 5.36/6.05 80% 30 Years

Floating Rate Mortgage 1 Year 3.79

US Mortgage ProcessIn USA the process through whichMortgage are secured by the borrowers are called origination. Herethe borrower submits an application anddocumentation relating to his/her financial history to the underwriter. Presently Many banks are now offering "no-doc" or "low-doc" loans in which the borrower is required to submit only minimal financial informations.Such type of loans carry comparatively higher interest rate and are available only to borrowers having excellent credit. Sometimes a third party is involved called the Mortgage Broker. Loans are sometimes sold in the open market to larger investors byoriginating mortgage company. There are some companies, called correspondent lenders who sell all or most of their closed loans to these investors, by accepting some risks for issuing . Some times they offer niche loans by higher prices which the investor does not wish to originate. A brief idea can be given with regards to the interest rates prevailing in the Mortgage market of USA.
The US mortgage banking BPO market in IndiaThe US mortgage banking BPO market in India is expected to grow very fast. It approximately $ one billion over the next five years from the existing $150 million.

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