Technology provider Genpact Limited of Bermuda has been awarded a seven-year contract to provide services support to MERSCORP, Inc., the mortgage industry's electronic loan registry system.
Roughly 60% of all newly originated mortgages are registered on MERS.
Under the contract Genpact will perform business process services in the U.S. for MERS, including managing the receipt, identification and delivery of mortgage-related correspondence on behalf of its 2500 members. It also will work on improving the quality and accuracy of the underlying business processes.
Typical mortgage-related correspondence includes physical and electronic receipt and delivery of recordable documents, notices of foreclosure or bankruptcies and requests for discharge of a mortgage.
Genpact will also manage the MERS helpdesk operations and drive improvement in service quality to MERS member companies while lowering costs. Genpact will begin providing the services in December 2010.
