US Technology launches Mortgage BPO Practice at the Gartner Outsourcing summit

US Technology is now UST Global - press release   (Every mention of US Technology in this section refers to UST Global)

New Services Aim to Reduce Processing Costs by 40 Percent in 2007

GARTNER Outsourcing Summit, Dallas, TX. – March 19, 2007 – US Technology, a leading provider of IT services and Business Process Outsourcing (BPO) solutions for Global 1000 enterprises, today announced at the Gartner Outsourcing Summit the launch of their Mortgage BPO practice. The US Technology 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 abilities to scale up or down during market fluctuations. The Top Two Challenges Facing Mortgage Providers in 2007 Whether it comes to production or servicing, the overall highest expense for mortgage providers is labor. In recent years, labor cost increases have put profit margins under intense pressure and current market conditions continue to exasperate the situation. In cyclical markets management needs to reduce overhead while retaining core staff. The providers that are able to quickly respond to changing market conditions will have a distinct advantage when it comes to controlling their labor costs. The other key issue facing providers is the need to keep costs in line with incoming revenue. Refinance booms over the last several years had made cost reduction a low priority. However, with volumes dropping, costs must come in line with the current volume. Mortgage BPO Highlights By relying on US Technology, providers can align costs with revenues while focusing on their core business, strategic initiatives and opportunities to increase market share in this challenging market. The Mortgage BPO Services from US Technology offer the ability to quickly scale up and down staff, thanks to access to a large pool of resources experienced in all facets of the mortgage business through a best-shore sourcing model. Lay-offs will be minimized as providers are better able to respond to cyclical markets and changing customer demands without an adverse impact on their critical staff. US Technology can easily absorb the impact of fluctuating resource needs, alleviating this burden in 2007 and beyond. In addition, US Technology offers mortgage providers many industry-leading advantages, allowing providers to retain valuable staff, maintain control, increase efficiency, and reduce overhead. Those advantages include: Processing efficiencies that deliver additional cost savings through transaction-based pricing Proven processes that minimize the transition time and ensure full control of the outsourcing team from the transition period through ongoing day-to-day operations A Loan Origination System (LOS) inclusive of a pricing engine that alleviates purchasing, licensing, maintenance and many other costs Specialized Quality Control (QC) group for loan risk review from pre-close to post-closing through investor pre-sale that utilizes automated systems "I can say with confidence that our team has the most hands-on mortgage industry experience of any BPO provider – onshore and offshore – bar none," said Ram Dhindhwal, President, BPO Operations, at US Technology. "As a result of our extensive experience, companies will be able to reduce their processing costs by at least 40 percent in 2007." The US Technology BPO Advantage US Technology is capable of meeting client needs on a global scale while possessing all the attributes of an entrepreneurial firm. The company has more than 5,000 associates and is backed by the $6 billion Comcraft group based in Geneva. For more information please visit the Mortgage BPO Web page at: http://www.ustri.com/mortgagebpo.aspx About the Gartner Outsourcing Summit The Gartner Outsourcing Summit is the only event designed to provide a comprehensive view of the entire outsourcing arena to allow leaders from both business and IT groups to come together; and offers a holistic understanding of all the options, risks and opportunities available. The Summit provides unbiased, road-tested advice and best practices necessary for setting outsourcing strategies and objectives, evaluating and selecting the right services providers, managing relationships with external partners and delivering profitable outcomes. Additional information is available at www.gartner.com/us/outsourcing. About US Technology US Technology is a leading provider of end-to-end IT services and BPO solutions for the Global 1000 market. US Technology offers a "client-centric" global delivery model that combines local, senior, on-site resources with the cost, scale and quality advantages of offshore operations. The company is known for a relentless focus on its clients, flexibility and commitment beyond contract. Headquartered in Aliso Viejo, California, US Technology has more than 5,000 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