""Merscorp, Inc."":http://www.mersinc.org (MERS), the electronic mortgage registry system, has selected technology management firm ""Genpact Limited"":http://www.genpact.com to provide mortgage support services and member-facing helpdesk services beginning, December 2010.
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Under the seven-year contract between the two companies, Genpact will perform business process services in the United States for MERS, including managing the receipt, identification, and delivery of mortgage-related correspondence on behalf of MERS 2,500 members.
Typical mortgage-related correspondence includes physical and electronic receipt and delivery of recordable documents, notices of foreclosure or bankruptcies, and requests for discharge of a mortgage. Genpact will also manage the MERS helpdesk operations.
""In keeping with our mission, we are constantly looking at ways to further improve the quality of our critical services to members,"" said R.K. Arnold, president and CEO of the Virginia-based MERS. ""MERS and Genpact have been working on a highly coordinated transition plan and MERS members should expect no disruption in service as a result of the planned migration.""
MERS was created by the mortgage banking industry to streamline the mortgage process by using electronic commerce to eliminate paper. The company says it mission is to register every mortgage loan in the United States on the MERS system.
According to MERS, since 1997, it has registered more than 65 million home loans, and more than 60 percent of all newly-originated mortgages are electronically registered through its system, which identifies the owner and custodian of an eNote.