MERSCORP (MERS), the electronic mortgage registry system, tapped technology management firm Genpact (G) for a seven-year agreement to provide business process services. Genpact will perform business services including management of the receipt, identification and delivery of mortgage-related correspondence in an effort to improve the quality and accuracy of the underlying business processes. Typical correspondence includes physical and electronic receipt and delivery of recordable documents, notices and foreclosure or bankruptcies and requests for discharge of a mortgage. “MERS has long been recognized as a critical provider to its mortgage industry members,” said  ‘Tiger’ Tyagarajan, COO of Genpact. “It has been at the forefront of making the industry more efficient and transparent.” Genpact will begin its services in December 2010. The mortgage banking industry created MERS to streamline the mortgage process and replace paper usage through an electric documentation system. Genpact noted that more than 60% of all newly-originated mortgages are registered on MERS. Write to Diana Golobay. Disclosure: the author holds no relevant investments.

Most Popular Articles

Quicken Loans hits “pause” on One Reverse Mortgage, moves all employees to Rocket Mortgage

Quicken Loans has become the largest mortgage lender in the country over the last few years due in large part to the growth of Rocket Mortgage, the company’s digital mortgage platform. As it turns out, Rocket Mortgage is becoming so big that it’s now consuming other parts of the Quicken Loans family of companies too, namely the company’s reverse mortgage lender.

Feb 21, 2020 By

Latest Articles

FHFA: U.S. house prices gained 5.1% in Q4

U.S. home prices increased 5.1% in the fourth quarter from a year ago, matching the pace of the prior quarter, according to the Federal Housing Finance Agency.

Feb 25, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please