eXpertivity
Mortgage Solutions Corporation Awards
Intelligroup a Contract for Business
Process Outsourcing
Edison, NJ, USA – May 22, 2007
- Intelligroup, Inc., a global
provider of business consulting, technology,
and outsourcing services announced
today that the company has entered
into a Build Operate Transfer (BOT)
agreement with eXpertivity Mortgage
Solutions Corp. a leading national
provider of mortgage loan processing
services. Under the terms of the agreement
with eXpertivity, Intelligroup will
provide infrastructure and facilities
to the BOT employees to perform the
Mortgage Processing services managed
by eXpertivity with a systematic ramp
up plan to managed eXpertivity’s
growth. The contract calls for up
to 30 people within 12 – 18
months.
“Through this partnership Intelligroup
will provide an incubating facility
to help address the challenges of
developing an offshore operation,”
said Vikram Gulati, President and
CEO of Intelligroup. “By providing
eXpertivity with a state-of-the-art
secure offshore facilities infrastructure
and back office processing teams they
will be able to focus on developing
and managing their core business model.”
“We are excited about partnering
with Intelligroup, their CMMi Level
5 certification and state-of-the-art
facility will allow us to continue
providing the mortgage community with
the highest quality and reliability
for our mortgage processing services,”
said IIan Nachmany, President and
CEO of eXpertivity Mortgage Solutions
Corporation. “We look forward
to working closely with Intelligroup
as we build our dedicated QC, compliance
and processing support center under
Intelligroup BOT model”.
eXpertivity conducted an extensive
and careful evaluation of options
from multiple potential BOT partners.
Intelligroup was selected as best
suitable to accommodate the requirement
for control in India and ability
to provide a secured facilities
and infrastructure back office support
processing teams. The teams will
conduct on going training in order
to maintain quality, ensure consistency
as eXpertivity grows. The initial
core team of highly experienced
Mortgage Processing Professionals
has been trained by eXpertivity’s
US Processing Managers and is now
ready to establish the offshore
support base. The center is expected
to be fully operational by late
summer.
About eXpertivity
eXpertivity began operations
in early 2005 and has established
itself as a leading expert in the
field of mortgage processing. eXpertivity
provides scalable end-to-end Mortgage
Processing service solutions to
the mortgage industry. eXpertivity
manages the entire process of converting
mortgage applications into closed
loans -- quickly, accurately, securely,
and in full compliance. eXpertivity
delivers technology-enabled Mortgage
processing services which simply
and easily help mortgage originators
to take mortgages from application
to closings. eXpertivity is privately
held, with headquarters in Fairfield,
New Jersey.
For more information regarding
eXpertivity, visit www.expertivity.net
About Intelligroup
Intelligroup is a vertically led
ERP focused Life Cycle Management
partner serving global corporations
as well as public sector clients.
Its proven Global delivery model
has enabled customers to accelerate
results and reduce costs significantly.
With deep expertise in industry-specific
enterprise solutions, Intelligroup
has earned a reputation for consistently
exceeding client expectations. Intelligroup
develops implements and supports
IT solutions for some of the largest
U.S. school systems and global corporations
including GE, Hershey, Abbott Labs,
Eastman Chemical, Hitachi, and Kimball
International. This marks the beginning
of Intelligroup’s foray into
BPO services.
For more information please visit
our website at http://www.intelligroup.com
Safe Harbor Statement Certain
statements contained herein, including
statements regarding the development
of services and markets and future
demand for services and other statements
regarding matters that are not historical
facts, are forward-looking statements
(as defined in the Private Securities
Litigation Reform Act of 1995).
Such forward-looking statements
include risks and uncertainties;
consequently, actual results may
differ materially from those expressed
or implied thereby. Certain of such
risks and uncertainties are set
forth in Intelligroup’s filings
with the Securities and Exchange
Commission.