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""Wipro Gallagher Solutions"":http://www.gogallagher.com (WGS), a Franklin, Tennessee-based provider of loan origination technology and fulfillment services for mortgage lenders, has[IMAGE]combined its managed origination system, NetOxygen Cirrus, with Wipro's loan processing services to create a new loan fulfillment and servicing platform.
The new platform allows lenders to generate revenue while using WGS to perform loan fulfillment, loan sub-servicing, and vendor management tasks.
According to the company, it was designed as a long-term strategic solution for mortgage lenders rather than a
[COLUMN_BREAK]temporary way to cut costs. In addition to reducing operational costs and increasing speed to market, this new solution improves customer service and the ability to quickly adjust for production peaks, WGS explained.
""Flexibility is the key component of the WGS solution,"" said Anil Raibagi, general manager and business head at WGS. ""Our customers are able to utilize WGS for complete end-to-end fulfillment or for specific functions within the loan process. This new platform also provides our services on a variable pricing structure, enabling clients to gain the maximum skill sets.""
In a statement released by WGS, the company cites a cost reduction of approximately 30 percent or more over the existing infrastructure.
The WGS operational environment is also designed on a per-file basis rather than a fixed-cost structure to allow lenders to reduce unused capacity to zero, and the average lender's cost per loan remains constant regardless of fluctuations in the number of loan files within a given month.
The company also mentions an immediate improvement in production efficiency due to the expanded hours of staff availability through a staggered or an overnight staffing model.
