The 30,000 square foot facility has capacity for 600 processors.

Visionet's third owned and operated offshore facility focuses on loan review, underwriting verifications, lien release, default management and investor accounting to mortgage lending and servicing organizations.

"With seven of the top ten banks using our solutions to drive outsourcing, Visionet Systems is focused on delivering mortgage-specific technology products that bring visibility to the outsourcing process," said Arshad Masood, president of Visionet Systems. "Lenders today are looking for ways to lower their costs and increase efficiencies. Our combination of industry expertise, technology solutions and offshore centers not only lowers the cost for lenders, but also assures continuous integrated improvements moving forward."

The new BPO center in Bangalore allows more lenders to benefit from Visionet System's mortgage industry knowledge and keen ability to identify and remove inefficient processes, sending only those processes offshore that are best performed offshore. Because Visionet Systems designed its technology solutions from the ground up to be location-agnostic, different tasks can be managed from anywhere at anytime, thus allowing servicers to track their work in real-time and move processes offshore easily.

"Because our system and processes are Web-based, lenders have real-time visibility and on-demand reporting capabilities," continued Masood. "One of the key issues facing many other BPO vendors is that their offshore staff is not trained to handle the complexities inherent in the mortgage process. Visionet Systems' executives have more than 10 years of experience in the mortgage industry and have appointed knowledgeable staff both onshore and offshore to effectively manage such complex tasks as lead conversion, underwriting review, loan boarding review, escrow management, default management and investor reporting."

Visionet Systems also owns and operates BPO centers in Lahore and Karachi, Pakistan.