NelsonHall’s Mortgage and Loan (M&L) BPO Vendor Assessment for Xerox is a comprehensive assessment of Xerox’s M&L BPO offerings and capabilities designed for:
Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for M&L BPO RFPs
Vendor marketing, sales and business managers looking to benchmark themselves against their peers
Financial analysts and investors specializing in the support services sector.
Key Findings & Highlights
This NelsonHall assessment analyzes Xerox’s offerings and capabilities in capital markets BPO. Xerox is one of a number of reference data management BPO companies analyzed in NelsonHall’s comprehensive industry analysis programs.
ACS established its M&L BPO capabilities with the acquisition of Intellifile in September 1995. Intellifile was established in 1987 to facilitate document image processing undertaken at Lomas Mortgage USA. Intellifile provided ACS with:
Solution selling capabilities
Consulting and systems integration skills
Turnkey document scanning applications
Product development capabilities
High volume paper scanning capabilities.
When Lomas Mortgage became troubled in 2000, ACS took over the core loan processing infrastructure at Lomas, and delivered service to both Lomas and other mortgage lenders. Over the years ACS has added lending clients, though during the recession it lost some lending clients when they declared bankruptcy (e.g. WAMU, Century Mortgage).
Over the years, Xerox has expanded its M&L BPO business into:
Auto loans: auto loan collection call center services and servicing platform
Credit cards: call center and transaction processing services
Student loans: call center and loan servicing.
Xerox BPO delivers mortgage BPO services from seventeen centers across the globe including the U.S., India, Philippines, Guatemala, Mexico, Jamaica and the Dominican Republic.
Each delivery center (except the student loan centers) delivers a much broader range of services than just M&L BPO.
Xerox has mortgage BPO clients, all of which are U.S. based. They include:
Global financial institutions
Mortgage technology vendors
Government related secondary markets.
Xerox has M&L clients, including cards, auto, and student loans. Xerox is aiming to grow its business in the next 12 months by focusing on helping organizations which want to:
Outsource document capture and management operations to reduce their capital commitment to those businesses
Outsource customer care and/or voice collections to an onshore provider
Convert CAPEX to OPEX by buying a BPaaS M&L service.