Company Announces Two-Year Agreement With a Leader in Retail Mortgages
DALLAS, June 19 /PRNewswire-FirstCall/ -- SOURCECORP (Nasdaq: SRCP), a
leading provider of business process outsourcing, announced today that it has
been awarded a new contract with one of the largest retail mortgage lenders in
the United States. SOURCECORP has ramped up to provide information management
services to support the customer's loan origination business over the expected
two-year term of the agreement.
Under the terms of the agreement, SOURCECORP will outsource loan document
conversion services and capture key data from the loan files and transmit the
electronic loan documents and captured data into the customer's document
control system. SOURCECORP's services will facilitate making key mortgage
information available to the lender's departments responsible for tracking the
mortgages, title policies, and Mortgage Insurance Certificates for closed
loans. SOURCECORP expects to handle at least 200,000 loan files annually for
this lender.
"We are really pleased to add this mortgage lender as a new customer into
our growing mortgage information management area," said Kerry Walbridge,
division president for SOURCECORP's Business Process Solutions. "The
resulting scanning of mortgage loan and collateral documents and data capture
will help our customer enhance its business processes, streamline its internal
loan tracking operations and support larger volumes of loan origination
activities."
Ed H. Bowman, Jr., president and chief executive officer of SOURCECORP,
added, "This new business is another example of SOURCECORP's information
management expertise in the mortgage loan area and our commitment to providing
and delivering integrated solutions to our customers."
ABOUT SOURCECORP(TM)
SOURCECORP, Incorporated is a leading provider of value-added business
process solutions to clients nationwide. SOURCECORP targets information
driven industry segments, such as healthcare, legal, financial services and
government, leveraging its expertise and experience in business processes.
Headquartered in Dallas, the Company employs approximately 9,000 people and
operates in over 40 states, Washington D.C., Puerto Rico, and Mexico.
SOURCECORP is a component of both the S&P SmallCap 600 Index and the
Russell 2000 Index. In June 2001, the Company was cited among the Top 100 Hot
Growth Companies by BusinessWeek magazine. SOURCECORP has previously been
recognized twice by Forbes magazine as one of the 200 Best Small Companies,
based on return equity, sales growth, and EPS growth, and by FORTUNE magazine
as one of America's 100 Fastest Growing Public Companies. For more
information about SOURCECORP's solutions, including case study examples, visit
the SOURCECORP website at http://www.srcp.com .
The statements in this press release, which are not historical fact, are
forward-looking statements that involve risks and uncertainties, which could
cause actual results to differ materially from such forward-looking
statements. These forward-looking statements include, but are not limited to,
any financial estimates and projections included in this press release and the
Company disclaims any intention or obligation to update or revise such
estimates or forecasts, except as required by law. The aforementioned risks
and uncertainties include, but are not limited to, the risks of integrating
our operating companies, of managing our rapid growth, of the timing and
magnitude of technological advances, of the occurrences of future events that
could diminish our existing customers' needs for our services, of a change in
the degree to which companies continue to outsource business processes, as
well as the risks detailed in SOURCECORP's filings with the Securities and
Exchange Commission, including without limitation, those detailed under the
heading "Risk Factors" in the company's most recent annual report on
Form 10-K. SOURCECORP disclaims any intention or obligation to revise any
forward-looking statements, including financial estimates, whether as a result
of new information, future events, or otherwise, except as required by law.
SOURCE SOURCECORP, Incorporated
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Related links:
http://www.srcp.com
Company News On-Call:
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CONTACT:
media, Alan Harlan, +1-214-740-6631, or
investors, Lon Baugh, +1-214-740-6683, both of SOURCECORP,
Incorporated
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