Genpact acquires mortgage technology firm with origination platform
Genpact Limited (G) acquired the remaining stake of High Performance Partners LLC and its Quantum mortgage technology. The business process management company initially invested in HPP in March 2010. Genpact plans to include the Quantum software platform in its mortgage business process as a service offering. The platform helps originators and lenders to automate and streamline parts of loan origination process, resulting in a shorter loan lifecycle and a more transparent mortgage asset, according to Genpact. Financial terms weren't disclosed. Roger Hull, founder and chief executive of HPP, was named vice president of Genpact Mortgage Services. "Mortgage lenders are shifting away from document-centered mortgage technology to data-centric processes that will enable significant process streamlining," according to Hull. Genpact's acquisition comes as the Mortgage Bankers Association annual conference, a traditional launching pad for new software and gadgets for the industry, gets under way in Chicago. Write to Jason Philyaw. Follow him on Twitter: @jrphilyaw.