Ocwen, Homeward Residential: Offshoring mortgage servicing a ‘cost-effective option’

offshoring

STANDARD & POOR’S – Despite a reduction in offshoring by some U.S. mortgage servicing operations, some servicers still find it a cost-effective option.

According to a report titled “Two U.S. Mortgage Servicers in India Have Efficient Operations But Still Face Difficulties,” just published on RatingsDirect, Ocwen Loan Servicing LLC and Homeward Residential Inc. are among the few such companies we rate that have found that the benefits of offshoring outweigh the potential complications.

Standard & Poor’s Ratings Services visited the Indian operations of both companies as part of its periodic surveillance reviews of its servicer rankings and to assess whether the offshore operations performed the same as those in the U.S.

The article looks at the four critical areas for companies that offshore activities involving interaction with U.S. borrowers: platform integration, training, staff retention, and experience/tenure.

The report is available to subscribers of RatingsDirect on the Global Credit Portal. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling 1-212-438-7280 or sending an email.

Ratings information can also be found on Standard & Poor’s public Web site by using the Ratings search box located in the left column at Standard & Poor’s.

Source: “Two U.S. Mortgage Servicers in India Have Efficient Operations But Still Face Difficulties”

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