Paradigm Quest Inc. Launch
TORONTO, Aug. 18, 2005 /CNW/ - Paradigm Quest Inc., Canada's exclusive provider of end to end mortgage processing and servicing for lenders and investors, today launched its third party mortgage processing operations. This new, innovative business process outsourcing service (BPO) will provide multiple lenders with a cost-effective means to deliver improved mortgage selection and pricing to Canadian consumers.
By offering an innovative business process outsourcing solution (BPO) for residential real estate lending processing (adjudication) and/or servicing, Paradigm Quest levels the playing field for multiple players in the Canadian mortgage industry. Paradigm Quest's outsourced operations model offers: process optimization, unique customization capabilities, operational excellence and risk mitigation. It also provides clients with an efficient means to quickly respond to market conditions and deliver innovative products to their customer bases.
"The launch of Paradigm Quest will have a significant impact on mortgage processing as we know it today," says Kathy Gregory, President & CEO, Paradigm Quest. "Although the origination and funding of Canadian mortgages has experienced unprecedented growth and change over the past 10 years there has been very little enhancement of the administration, movement and processing of these mortgages."
"By leveraging a business model that provides a first class standard of service enabled through technology, we can streamline the paper and resource intensive processes associated with traditional mortgage banking and vastly improve the customer experience," notes Gregory. She adds that Paradigm Quest is not in the business of originating or funding mortgages, but is singly focused on it core strength of providing originators and lenders with operational innovation.
"Our BPO model allows lenders and investors alike to focus on their core competencies (origination, wholesale funding, capital markets), and outsource their mortgage operations within a variable pricing model," says Donald Zuill, CFO of Paradigm Quest. "Our focus on process optimization and the ability to customize processing based on the lender's business needs provides our clients with peace of mind that their portfolios are being managed effectively and they can take advantage of the economies of scale within the Paradigm Quest model".
About Paradigm Quest Inc.
With extensive mortgage market operational expertise, Paradigm Quest has a mandate of leading the mortgage market in innovation and service excellence. By working closely with industry suppliers and business partners, Paradigm Quest's strategy is to evolve and improve the mortgage experience for the lender, originator and ultimately the end mortgage customer, enabling Canada to become a global leader in real estate secured lending. Paradigm Quest is scheduled to begin processing its first client in Q4 2005.
For further information: contact: (416) 366-8606 or e-mail inquiries