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UST Global signs agreement with one of the top five mortgage lenders in the nation for Quality Control Services

ALISO VIEJO, Calif. - June 19, 2008 - UST Global^®(UST), a leading provider of IT services and BPO solutions for Global 1000 enterprises, announced today that it signed two agreements to provide quality control services to the FHA lending division of one of the top mortgage lenders in the nation. The client is a leading national lender and thrift that provides financing secured by single-family homes and other banking products to facilitate consumers’ personal financial goals. UST has been engaged to conduct quality control reviews of post-closing loan origination as well as to manage the quality control analysis and reporting for the servicing processes of FHA/VA loans.

The mortgage lender has been steadily growing their government lending division and wanted to ensure that there was proper quality control oversight for both loan origination and loan servicing. They were searching for a third-party BPO partner that would provide expertise in government lending, leading practices in mortgage quality control and arms-length objectivity. They also wanted a partner that could provide transactional pricing which would allow them to scale their operation without staffing a department for peak volumes or risk understaffing such an important function. It was essential for them to keep costs contained at a time when loan volumes have been unpredictable.

With this criteria in mind, the client investigated several BPO providers and selected UST Global. "It was important to our client that they chose a partner with deep industry experience that really understood the criticality of the quality control process to their success," said Ram Dhindhwal, General Manager of Mortgage BPO Operations for UST Global. "UST has the experience and discipline to meet this challenge and we were able to demonstrate that."

UST Global will conduct quality control loan audits for both funded and rejected loans in compliance with HUD’s guidelines. The mortgage loan file documents (promissory notes, deed of trust, application, verifications, etc.) are reviewed by UST for correctness, authenticity, completeness and document quality. UST will report initial findings and exceptions to the client within 30 days of receiving the loan files and release a final findings and exceptions report to the client within 60 days of receiving the loan files.

In addition, UST will conduct monthly and quarterly audits on a statistical sampling of the client’s government servicing portfolio. The base audit will include the verification of proper loan boarding, payment processing, escrow review, payoffs, prepayments, and fees/charges. For delinquent loans, UST will conduct loan-level reviews for processes including collections, loss mitigation, foreclosure, bankruptcy, ARM adjustments and claim filings to ensure that they are in compliance with HUD guidelines.

About UST Global Mortgage BPO Practice

The UST Global Mortgage BPO practice, which ranges from loan origination processing or any portion thereof to loan servicing, helps mortgage lenders and mortgage services providers significantly reduce their back office processing costs while improving processing efficiencies. The BPO services enable lenders and service providers to retain complete control of their operations while providing them with the ability to scale up or down during market fluctuations.

About UST Global
UST Global^® is a leading provider of end-to-end IT services and BPO solutions for the Global 1000 market. UST Global offers a Client-centric Fully Integrated Engagement Model that provides the optimal mix of senior local resources with the cost, scale and quality advantages of offshore operations for each client. The company is known for its relentless focus on clients, flexibility, and commitment beyond contract. Headquartered in Aliso Viejo, California, UST Global has more than 5,500 employees worldwide and is certified globally as CMMI® Level 5, P-CMM® Level 5, and ISO 27001. For more information visit: www.ust-global.com