The lending industry is significantly transforming after two years of elevated interest rates across mortgage, commercial, and retail products. Recent rate cuts, coupled with easing inflation, have provided relief to borrowers, paving the way for renewed growth. This report explores the forces reshaping the industry and highlights opportunities in an increasingly competitive and dynamic landscape. The report examines the impact of macroeconomic factors on the lending services industry, focusing on how fluctuating interest rates and economic stabilization are influencing borrower behavior and lending strategies. Key emerging trends include the rise of new lenders, technology advances, increasing delinquencies, and growth opportunities on the horizon. The lending Business Process Services (BPS) market is rapidly evolving as providers deploy advanced tools and customized solutions to address shifting client needs. With a detailed analysis of the lending operations provider landscape, the report profiles key providers and their market positioning. By offering forward-looking insights, it equips stakeholders with the knowledge to capitalize on emerging opportunities and confidently navigate the future of lending operations. Scope Industry: banking and financial services Geography: global Contents In this report, we examine the: Lending BPS market Key macroeconomic factors affecting the lending BPS industry Focus areas for lenders Emerging trends among lending BPS providers Lending operations’ provider landscape Future outlook for lending operations Membership(s) Banking Business Process Sourcing and Vendor Management

The mortgage industry is facing challenges due to rising interest rates, inflation, and declining origination volumes. This report provides insights into how mortgage enterprises can navigate through the downcycle and sustain their businesses by managing their portfolio and leveraging technology and partnerships. To protect their bottom-line and prepare for the future, mortgage lenders are adopting digital technologies, such as advanced analytics and cognitive aids, to improve operational efficiencies and customer experience. However, it is important to take a strategic approach and integrate these technologies into a cohesive and comprehensive solution that aligns with business goals. By taking a strategic approach to technology and partnerships, mortgage enterprises can position themselves for long-term success in a competitive and rapidly-changing market. Scope Industry: BFS, mortgage operations Geography: global (US) Contents In this study, we focus on: Challenges during the mortgage downturn Enterprise priorities in the mortgage downturn Operational and technical pain points of mortgage enterprises Membership(s) Banking and Financial Services Business Process Sourcing and Vendor Management

Banks, lenders, FinTechs, and other Banking and Financial Services (BFS) enterprises are rapidly evolving their focus. They are expanding beyond North America and establishing a presence in developing markets, such as the UK, Europe, Latin America, Asia Pacific, the Nordics, and the Middle East. These geographies have faced challenges due to the pandemic and existing domestic issues, leading to changes in their business models and environments. As enterprises shape the BFS market in these regions, it is imperative for providers to adapt and meet their demands. In this research, we provide an in-depth analysis of these geographies, including outsourcing opportunities, challenges, demand drivers, and implications for expansion. The report also aims to enable both enterprises and providers to make informed decisions regarding outsourcing. Scope: Industry: BFS Geography: global Contents: In this report, we: Review the latest trends in the BFS industry in these geographies Assess the enterprise market sizes and outsourcing opportunities in these regions Analyze the demand drivers and outsourcing challenges facing providers in specific markets Offer recommendations to providers on developing strategies for these geographies Membership(s) Banking and Financial Services Business Process Sourcing and Vendor Management

Mortgage Operations – Service Provider Compendium provides accurate, comprehensive, and fact-based snapshots of 23 providers, including their scale of operations, technology solutions, risk management and regulatory reporting, delivery locations, and Everest Group’s PEAK Matrix® provider assessment. It also sheds light on the mortgage operations service provider landscape. The study will enable current and potential buyers of mortgage operations to assess the providers based on their strengths, limitations, and desired capabilities. Scope Industry: mortgage Geography: global Contents Each provider profile captures the following mortgage operations-related details: Service suite and scale of operations: key leaders, services suite, FTEs, revenue, recent developments, and partnerships Delivery locations: key delivery locations worldwide Capabilities and key clients: major engagements, revenue split by geography, FTE split by segment and location, and number of active clients by buyer size Technology solutions: brief descriptions of key technology solutions Risk management and regulatory reporting: brief description of risk management and regulatory reporting support Everest Group assessment: the provider’s position on the Everest Group PEAK Matrix®, market share and delivery capability assessment, and overall evaluation of capabilities Membership(s) Banking and Financial Services Business Process Sourcing and Vendor Management

As lenders seek solutions to improve their capabilities, adapt to consumer expectations, and gain market share, the mortgage operations landscape is becoming more competitive and dynamic. Following the pandemic, the sector experienced low interest rates and high demand for much of 2021, but the tide has turned, and interest rates are rising again. The pandemic has also significantly changed consumer demand patterns, mortgage stakeholder working styles, and service delivery approaches. Consumer demand patterns have shifted toward younger and more digital-savvy borrowers, who value experience and convenience over cost. Providers are actively leveraging the partner ecosystem and new acquisitions to augment their capabilities and improve their offerings’ time-to-market. They have invested in and built digital lending solutions and tools that assist in the entire loan life cycle and enhance customer experience. On the market side, the mortgage securitization market has been marked by high competition among providers across other major lines of business, while on the buyer side, there has been an increase in mortgage originations. North America continues to dominate market share in terms of size and new transactions, while providers are gaining a better understanding of demand patterns in Asia Pacific, the United Kingdom, and Continental Europe. Non-bank buyers, such as FinTechs, and real estate businesses, have been demand sources for service providers. This report provides a detailed analysis of the vision, delivery capabilities, and market successes of 23 mortgage operations service providers and their relative position on the Everest Group PEAK Matrix® for Mortgage Operations. The study will assist key stakeholders, such as banks, financial institutions, service providers, and technology providers, in understanding the current state of the mortgage operations service provider market. Scope In this report, we study vertical-specific mortgage operations. We have not covered horizontal business processes such as Finance and Accounting (F&A), Human Resources (HR), procurement, and contact center Industry: banking and financial services Geography: global Contents This report features profiles of 23 mortgage operations service providers, each of which includes: Relative positioning of the providers on Everest Group’s PEAK Matrix® for Mortgage Operations  Provider market impact analysis  Provider vision and capability assessment across key dimensions  Enterprise sourcing considerations Membership(s) Banking and Financial Services Business Process Sourcing and Vendor Management

The mortgage operations landscape is becoming increasingly competitive as enterprises continue to look for solutions to improve their capabilities, expand their footprint, and gain market share. Some of the factors shaping the mortgage industry landscape include interest rate changes, shifts in consumer behavior, the rise of digital elements, and the evolving regulatory environment. In this environment, non-banks continue to gain momentum due to the increased leverage of technology and digital and a rise in the demand for ancillary services in mortgage operations. To stay competitive, enterprises are embracing digital technologies, including advanced analytics and cognitive aids, to provide customers a seamless and personalized experience. Consequently, their demands from service providers have moved beyond cost efficiencies to value addition to facilitate their transformation agendas. In this research, we take a close look at how enterprises are embracing digital technologies to improve customer experience and examine the evolving role of outsourcing service providers, which are increasingly becoming partners to enterprises by providing end-to-end solutions. Scope Industry: Banking and Financial Services (BFS) Geography: global Contents In this report, we analyze: Key challenges that financial institutions face in mortgage operations Emerging areas in mortgage operations that are gaining traction Key outsourcing trends in the mortgage operations industry Key recommendations for enterprises and service providers Membership(s) Banking Business Process Sourcing and Vendor Management

The traditional mortgage lending process has been long due for transformation. Even with breakthroughs in customer service, customer experience continues to present a challenge. It is, in fact, one of the main differentiators for lenders. Several processes such as branch visits, documentation, and age-old credit calculation mechanisms present a huge transformation opportunity. The need to transform does not arise only to enhance customer experience but also to comply with the evolving regulatory and competitive landscape. Digital intervention is the key to transform mortgage lending, and the COVID-19 pandemic has also accelerated this push toward digital, making this the right time to embark on a digital transformation journey. In this paper, we examine the current mortgage lending process, identify the key pain points for customers, and design a roadmap for the future. We recommend that banks look at digital solutions and transformation more holistically to achieve a seamless and truly integrated lending experience for customers. Scope Industry: Banking and Financial Services (BFS) Geography: global Contents In this paper, we discuss: The present mortgage lending scenario The need to change Roadblocks to digital adoption The relevance of digital in mortgage lending today Membership(s) Banking and Financial Services (BFS) - Business Process Outsourcing (BPO) Sourcing and Vendor Management

The Mortgage Operations – Service Provider Compendium provides accurate, comprehensive, and fact-based snapshots of 19 service providers. Each profile includes scale, scope, technology solutions, risk management & regulatory reporting support, delivery locations, and Everest Group's assessment of the provider. We also present the providers’ scale of operations, technology solutions, and delivery locations, along with Everest Group’s PEAK Matrix® service provider assessment. The compendium also sheds light on the global mortgage operations service provider landscape. The study will enable current and potential buyers of mortgage services to assess the providers on their areas of strength and development based on their desired capabilities. Scope The report evaluates 19 mortgage operations service providers: Accenture, Capgemini, Cognizant, Computershare Loan Services, Conduent, DXC Technology, Exela Technologies, EXL, HCL Technologies, Infosys, Mphasis-Digital Risk, Peoples Processing, Sutherland Global Services, Sourcepoint, TCS, Teleperformance, Unisys, Wipro, and WNS. Contents Each service provider profile captures the following mortgage operations-specific details Service suite and scale of operations, including key leaders, suite of offerings, FTEs, revenue, and recent developments Delivery locations, covering city-level details of key delivery locations across the world Capabilities and clients, including major engagements, revenue split by geography, FTE split by process coverage & location, and the number of clients by buyer size Technology solutions, capturing brief profiles of key technology solutions Risk management & regulatory reporting, profiling the providers’ risk management & regulatory reporting capabilities Everest Group assessment, including the service provider’s position on the Everest Group PEAK Matrix<span style="vertical-align: 4px; font-size: 10px;">®</span>, market share & delivery capability assessment, and overall remarks on service provider capabilities Membership(s) Banking Business Process Sourcing and Vendor Management

Mortgage operations are among the largest submarkets within banking operations and are becoming increasingly competitive as enterprises look for newer solutions to improve capabilities, expand footprint, and gain market share. Some of the factors shaping the mortgage industry include interest rate changes, shifts in consumer behavior, rise of digital elements, and the evolving regulatory environment. To stay competitive, enterprises are increasingly embracing digital technologies such as advanced analytics and cognitive aids to provide customers a seamless and personalized experience, which has become important given the pandemic. Consequently, enterprise demands from service providers have also moved beyond cost efficiencies to value additions to support their transformation agendas. In this research, we present an assessment of 19 mortgage operations service providers featured on the Mortgage Operations – Services PEAK Matrix®. The assessment is based on Everest Group’s annual RFI process conducted over Q2 and Q3 2020, interactions with leading mortgage operations service providers, client reference checks, and an ongoing analysis of the mortgage services market. Scope We have studied the following mortgage operations service providers as part of this research: Accenture, Capgemini, Cognizant, Computershare Loan Services, Conduent, DXC Technology, Exela Technologies, EXL, HCL Technologies, Infosys, Mphasis-Digital Risk, Peoples Processing, Sourcepoint, Sutherland Global Services, Teleperformance, TCS, Unisys, Wipro, and WNS. In this report, we cover vertical-specific mortgage operations. We have not covered horizontal business processes such as Finance and Accounting (F&A), Human Resources (HR), procurement, and contact center. Contents This report features 19 mortgage operations service provider profiles, each of which includes: Relative positioning of the service provider on Everest Group’s PEAK Matrix® for Mortgage Operations Service provider market impact Service provider vision and capability assessment across key dimensions Comments about the service providers Membership(s) Banking Business Process Sourcing and Vendor Management

The mortgage BPS service provider profile compendium provides accurate, comprehensive, and fact-based snapshots of 20 service providers in the market. These include Accenture, Capgemini, Cognizant, Computershare Loan Services, Covius, DXC Technology, Exela Technologies, EXL, Firstsource, Genpact, HCL Technologies, IBM, Infosys, Mphasis-Digital Risk, Sutherland Global Services, TCS, Teleperformance, Unisys, Wipro, and WNS. Each profile captures a comprehensive picture of that provider’s service suite, scale of operations, technology solutions, risk management & regulatory reporting support, and delivery locations; along with Everest Group’s assessment of the provider. The compendium also sheds light on the global mortgage BPS service provider landscape. Content Each service provider profile captures the following mortgage BPS-specific details: Service suite and scale of operations: includes key leaders, service suite, FTEs, revenue, and recent developments Delivery locations: covers city-level details of key delivery locations across the world Capabilities and clients: includes major engagements, revenue split by geography, FTE split by process coverage & location, and the number of clients by buyer size Technology solutions: captures brief profiles of key technology solutions Risk management & regulatory reporting: profiles providers’ risk management & regulatory reporting capabilities Everest Group assessment: includes the position of the service provider on the Everest Group PEAK Matrix, market share & delivery capability assessment, and overall remarks on the capabilities of service providers The objective of this compendium is to provide key stakeholders a snapshot of the offerings and capabilities of 20 major mortgage BPS service providers. Specifically, the report allows for comparison of service providers on their areas of strength and development. It helps current and potential buyers of mortgage BPS services to assess service providers on the capabilities that they desire. Membership(s) Banking and Financial Services (BFS) - Business Process Outsourcing (BPO)