Indian Business Process Firm Gets Footprint in U.S.(Indecomm Global Services, Mortgage Dynamics Inc.)

MCLEAN, VA -- Indecomm Global Services has acquired Mortgage Dynamics Inc. here in a continued effort to enter the U.S. mortgage market.

MDI is a consulting firm that has serviced the U.S. mortgage market for 18 years. The company was acquired for an undisclosed combination of cash and stock. Indecomm will adopt the Mortgage Dynamics brand name for its U.S. mortgage outsourcing operations. Also, MDI will continue under the leadership of its founders Mary Bruce Batte and Dan Measell.

Indecomm is an international business process services firm with headquarters in Bangalore, India, and operating centers in America. Indecomm provides consulting on all aspects of mortgage banking and performs such outsourcing services as investor accounting, FAS 140 tasks, post-closing, quality control, loan sales preparations, and audits of compliance, underwriting and adjustable-rate mortgages.

In fact, this isn't the first move that the company has made to gain a larger footprint in the U.S. market. In April of this year, LandAmerica Financial Group Inc., a provider of real estate transaction services, and Indecomm formed Lydian Solutions and Services, a joint venture between the two companies. The new firm provides an Intelligent Document Hub solution serving the mortgage, remittance processing, financial services and health care industries. The new company will be located in Louisville, Ky.

The IDH will integrate the ability to handle complex business documents, convert them into a digital format and manage them using a proprietary onshore-offshore processing model. The result is a business process solution for clients seeking to outsource document-based processes and lower costs by converting fixed costs into a variable cost structure.

In terms of how the relationship between MDI and Indecomm began, Ms. Batte told NMN, "John Torell, who is the chairman of the board at Indecomm, became one of our clients in 1990. We did some major projects for him when he was at Fortune Bank and have stayed in touch. ...