The SAFE Act was signed into law in July of 2008 as part of the Housing and Economic Recovery Act with a primary goal of consumer protection and reducing mortgage fraud. Unfortunately, due to the minutia of each state’s interpretation of the SAFE Act requirements, the message of consumer protection can be lost. As a reminder, the primary objective of the Act is to provide consumers with a clear method of validating the company they trust to originate and fund their mortgage loans.

So, how does the SAFE Act provide consumer protection? This occurs in a variety of ways. First and foremost, there are specific requirements that a mortgage loan broker, lender, or servicer must meet. There are security measures in place through credit and background checks. In addition, the Act requires licensees to participate in pre-licensure and continuing education courses along with professional expertise in the industry, record retention requirements, with each state managing their unique licensing requirements. Still, these are examples of the steps an industry professional must take in order to obtain a license. The consumer advocacy piece comes into play via the requirement for all licensees to register with the Nationwide Mortgage Licensing System and Registry (NMLS).

What does the Final Ruling from HUD mean? On June 29, 2011 HUD issued the Final Ruling on the SAFE Act (See “Attachments” for a full copy). The Final Ruling clarified key components of the Act, including the licensing requirements for Independent Contractors, Loan Processors, and Underwriters, supervisory components, and key terms and definitions found within the Act. The document includes summary commentary in response to industry feedback, and identified distinctions on the authority of HUD and the Consumer Finance Protection Bureau (CFPB). For the purposes of this position statement, we will focus primarily on the sections dealing with the role of loan processors, underwriters, and independent contractors found in Section M (pg. 83-88) and Appendix C (pg. 147-149).

More details…

Indecomm Global Services (“Indecomm”) has been rated the Top Specialist Product Engineering provider in a survey conducted by Global Services in association with Neo Advisory. This annual report serves as a benchmark for identifying new leaders with the potential to make a change through innovative delivery in the global services space. The 2011 GS100 list represents companies that serve mature international customers through advanced global delivery models, which have a broad portfolio of service offerings or niche leadership, and have demonstrated business excellence.

“We are honored to once again be named as one of the Global Services 100 and to be ranked among the top Outsourced Product Development Vendors,” said Naresh Ponnapa, President& CEO of Indecomm Global Services. “These rankings reflect our commitment to building enterprise partnerships with leading companies worldwide, and mirror our drive to promote sustainable performance improvements through leveraging our investments in platform-based outsourced services.”

Indecomm has experience with all deployment models, including On-Premise and On-Demand services. It has set up and runs dedicated Collaborative Product Development Labs for marquee clients such as Accelrys, Google, Twinspires, Blackboard, Lifelock, Microsoft, IBM, etc. Indecomm has helped many software firms with SAAS enablement, including multi-tenancy models, cloud computing, data protection, integration patterns, data analytics, privacy, and security.

Indecomm’s technology platforms are an integral part of its delivery model and have fundamentally changed the way our clients manage their businesses. Clients are able to augment their service portfolios, using Indecomm’s technology platforms, helping them to achieve scalability and discover hitherto unexplored revenue streams. Amongst others, our platforms include ViewPoint©, InteleDocDirect©, Taxplorer©, eTitleExpress©, iMortgageMentor©, YellowPlatter©, WoW©, PayLocPro©, DynamicDocs©, Fee Calculator©, Track Central©, Chartmover© and KrishiDvar©; all extensively and successfully used by our customers worldwide.

ABOUT INDECOMM GLOBAL SERVICES:

Indecomm Global Services (Indecomm Corporation) is a leading Consulting, Outsourcing, Learning, and Technology Services Company, with three principal divisions: Technology Services, Financial Services, and Learning Services. Indecomm’s seamless onshore-offshore technology-enabled operations are the central point of its global delivery model, offering clients both scalability and cost reduction advantages. Expertise in imaging and workflow technologies and extensive knowledge of processes and domains has enabled Indecomm to produce significant, measurable business gains for its clients. It has been featured in Red Herring's list of the top 100 private companies in the world, ranked among the top five emerging services companies by The Indus Entrepreneurs, featured in Fortune Magazine’s “The Global Outsourcing 100,” listed among the top 100 Global IT and BPO service providers by Global Services and neoIT, and has been recognized for management excellence and its outstanding contribution to industrial development in India.

Indecomm is funded by leading global venture capital funds, including Sequoia Capital, Tiger Global Management Private Equity, and the International Finance Corporation (member of the World Bank Group). The company is headquartered in Bangalore, India, with delivery centers and offices in New York, Iselin (New Jersey), Minneapolis (Minnesota), McLean (Virginia), Denver (Colorado), Scottsdale (Arizona) in the United States, Singapore, Malaysia, Thailand, Philippines, UK, Australia, and Bangalore, Gurgaon, Mysore, Pune, Salem, and Tumkur in India. For more information,
visit www.indecomm.net

Mortgage Delivery Specialists LLC (MDS), the premier provider of Fannie Mae, Freddie Mac and Ginnie Mae Mortgage Delivery Services, and Mortgage Servicing Rights (MSR) Acquisition Due Diligence Analysis Services, and Indecomm-Mortgage Dynamics Inc. (IMDI), an Indecomm Global Services (IGS) Company and one of America's leading mortgage banking management consulting and outsource services firms, announced today that they have formed a strategic alliance. IMDI will immediately begin incorporating the use of MDS' mortgage servicing analysis product into its comprehensive suite of mortgage servicing solutions.

"This alliance has been many years in the making," said MDS principal Kent Loehrke. "The MDS team has worked with IMDI personnel on a variety of projects over the years and the relationship has continued to grow through Indecomm's purchase of IMDI."

MDS' mortgage servicing analysis product evaluates mortgage data points for errors, inconsistencies, and other identifiers that may signal data and/or process issues. It allows a due diligence team to focus on the most critical areas of a loan portfolio, servicing portfolio, and operational review. "We have seen many new, non-traditional buyers of mortgage servicing rights entering the market recently that do not have the necessary in-house expertise to conduct a full-scale servicing operational due diligence review when purchasing bulk mortgage servicing rights (MSRs). We feel the alliance addresses this need," said Loehrke.

IMDI conducts a variety of lender reviews, including assessing mortgage servicing operations, to determine whether the servicer meets industry standards in protecting the value of the loans. Its servicing operation due diligence review covers all functional areas of the servicing operation, including customer service, payoffs and assumptions, cashiering, investor reporting, default administration, servicing sales and transfers, and escrow areas (mortgage insurance, hazard, and optional insurance and taxes).

"Utilizing MDS's analysis product, we are able to strengthen our ability to perform our servicing operation reviews and identify potential problem loans requiring correction or special servicing requirements within a client's organization," said Jan Ulsch, Senior Vice-President of Indecomm - Mortgage Dynamics, Indecomm Global Services. "Mortgage portfolio data is analyzed with the MDS product, providing us with summary and loan-level reports that help us to perform file selections and identify potential problem areas before conducting any on-site due diligence work."

Added Loehrke, "Together, we offer the best team of servicing operations review experts equipped with the best analysis tools for identifying data and process issues — a true value-added proposition for mortgage servicers seeking to improve their operations or for clients acquiring mortgage loans, mortgage servicing rights, or whole operations. We are very excited to be working together."

About Mortgage Delivery Specialists (MDS)

Mortgage Delivery Specialists LLC (MDS) was formed from a select group of industry professionals specializing in mortgage loan analysis and Agency securitization delivery services. Team leaders have over 70 years of combined experience in assisting mortgage lenders with their mortgage loan delivery and servicing analysis needs. The entire MDS team previously worked together at Mortgage Data Management Corporation (MDMC) until MDS was formed in January of 2010.

About Indecomm-Mortgage Dynamics Inc. (IMDI)

Indecomm-Mortgage Dynamics Inc. (IMDI) has been providing consulting services to the mortgage industry since 1987. Its full line of services include business planning, litigation support, merger & acquisition services, process reengineering, and outsourcing solutions

Indecomm Global Services has been declared topper in Red Herring’s list of the top 100 private companies in Asia. Red Herring winners are the top private companies selected by the media company’s editorial team after a thorough analysis of their business models, size, profitability, and technology. Red Herring shortlists the premier companies throughout Asia, and the listing is yet another instance of Indecomm being recognized for its leadership and the enduring value it has delivered to its clients.

Bangalore, India and Scottsdale, Arizona, June 20, 2008 – Indecomm Corporation (“Indecomm”) today announced that the Encora Group, BVI (“Encora”) has joined the Indecomm family.

Encora is an emerging global leader in Collaborative Product Development (CPD) services. Encora’s CPD platform provides life-cycle product development and technology services to global software product companies with innovative execution and operating models that its clients can leverage. The Encora transaction extends Indecomm’s portfolio of Consulting and Outsourcing Services across multiple industry domains to Technology Services and will propel the combined organization to leadership in high-end Technology and Outsourcing services.

Indecomm together with Encora will clock an annual run rate of $100m revenue, and employ over 5,000 resources, including 1,000 IT and product engineers, across the United States, Europe, APAC, and India. The Encora transaction further bolsters Indecomm’s aggressive organic growth of 100% over each of the previous three years. Together with Encora’s presence in India, Singapore, Malaysia, Australia, and the United States, Indecomm’s delivery operations cover key markets in APAC, Europe, the United States, and India. Indecomm services 20+ Fortune 500 Clients, and has quietly garnered the recognition and respect of its customers, industry analysts, and competitors as a prolific and quality provider of Consulting, Technology, and Outsourcing Services.

The Indecomm-Encora combination is a compelling proposition for customers of both companies. Besides Encora’s superior execution methodologies and technology capabilities in product engineering and enterprise software services, Encora’s customers will now have access to the full range of Outsourcing Services that Indecomm provides to several of the world’s leading companies. Encora’s acclaimed Collaborative and Distributed Product Development expertise offers Indecomm’s customers the potential to power their business with applications beyond traditional Outsourcing Services.

“The addition of Encora will advance Indecomm’s vision of seamless IT and Outsourcing services,” said Naresh Ponnapa, President and CEO of Indecomm Corporation, and added that “Encora’s solutions, talent and customers complement Indecomm’s business and extend our ability to deliver compelling products and services to our enterprise customers. Encora’s software and product development services, combined with our legendary expertise in Consulting and Outsourcing Services, will deliver our customers a rich user experience, low cost of ownership, industry-leading transaction services, and enterprise-class software and Technology Services.”

“This is an exciting milestone for our company, and we look forward to scaling our growth as part of Indecomm,” said Venu Raghavan, CEO of Encora Group, BVI and this year’s winner of the Ernst & Young’s Entrepreneur of the Year® 2008 in the Emerging category in Orange County/Desert Cities. “Indecomm’s global reach, scale, widely recognized brand, and worldwide customer relationships make it the ideal partner for Encora. Our combined teams will create exciting growth opportunities for Encora, our customers and our employees. We look forward to working with the Indecomm family to ensure a rapid and seamless transition.”

About Indecomm Corporation

Indecomm Corporation is a leading Consulting, Technology, and Outsourcing Services company, with four principal divisions: Mortgage Services, Banking Services, Learning Services, and Technology Services. Indecomm’s seamless onshore-offshore technology-enabled operations are the central point of its global delivery model, offering clients both scale and cost advantages. Expertise in imaging and workflow technologies and extensive knowledge of processes and domains have enabled Indecomm to produce significant, measurable business gains for its clients. It has been featured in Red Herring's list of the top 200 private companies in the world, ranked among the top five emerging services companies by The Indus Entrepreneurs, featured in Fortune Magazine’s 2007 “The Global Outsourcing 100,” listed among the top 100 Global IT and BPO service providers by Global Services and neoIT, and has been recognized for management excellence and its outstanding contribution to industrial development in India. Indecomm is funded by leading global venture capital funds, including Sequoia Capital, Tiger Global Management Private Equity, and the International Finance Corporation. The company is headquartered in Bangalore, India, with delivery centers and offices in New York, Iselin, NJ, Minneapolis, MN, Louisville, KY, McLean, VA, Denver, CO, Los Angeles, CA in the United States, and Bangalore, Gurgaon, Mysore, Pune, Salem and Tumkur in India. The Indecomm group of companies includes IGS Imaging Services, Brainvisa Technologies, Centillion Solutions and Services, U.S. Recordings, and Mortgage Dynamics, Inc. For more information, visit ww.indecommglobal.com.

About Encora Group, BVI

Encora, the emerging leader in Collaborative Product Development, offers a portfolio of software product life cycle solutions to SME software product companies. Encora provides end-to-end services to global software product companies, which includes product management, product engineering and professional services, onsite, nearshore, and also through offshore delivery supplemented by on-site execution. The company is headquartered in Scottsdale, Arizona, with offices in Pittsburgh, Santa Clara, and Boston in the United States, and in Singapore, Malaysia, Thailand, and Australia in the APAC region and Bangalore and Gurgaon in India. For more information, visit www.encorainc.com.

Media contacts:

sumit.kumar@indecommglobal.com

Jegadesan.k@encorainc.com

Indecomm at the largest gathering of independent title agents

The 2008 National Settlement Services Summit (NS3) will bring together hundreds of settlement services customers, experts, and colleagues from across the country on June 17-18 at the Key Center at the Marriot in Cleveland. Don’t miss this opportunity to network with other professionals. (4/30/2008)

October Research Corp. has announced that the Opening Night Networking Reception will be held this year at Progressive Field, home of the Cleveland Indians and one of the most unique venues in Cleveland. Sponsored by Indecomm Global Services, the event will be in the members-only Terrace Club, the sleek restaurant and bar on the third floor, overlooking the baseball field.

"We are extremely excited about the opportunity to sponsor the opening night reception,” said Rajan Nair of with Indecomm Global Services. “The National Settlement Summit is the premier event for the title and settlement services industry. Indecomm has established itself as the leading provider of business process outsourcing solutions to the mortgage industry in general and the title and settlement services industry in particular. This event will provide us with a forum to interact with our clients and other leading players in the title and settlement services industry.”

“We are very pleased to be able to host our Opening Night Networking Reception at Progressive Field, and very happy that Indecomm is the sponsor,” said Alicia Perozeni, senior manager of Conferences and Seminars. “Every year, we debate about having the Summit in Cleveland, and every year the feedback from attendees and sponsors is that people enjoy coming to Cleveland and seeing all the city has to offer. Previously, we’ve held the receptions at the Rock & Roll Hall of Fame and the House of Blues. This year, we’ve reinvented ourselves and secured Progressive Field.”

As an added feature to Summit attendees, Indecomm is offering free tours of Progressive Field and will also take advantage of the Daktronics scoreboard — one of the largest full-color emitting diode (LED) video displays at any baseball park in North America.

Produced by The Title Report and presented by RamQuest Software, this year's Summit is expected to attract several hundred independent title agents and settlement services professionals who have been waiting out the market slide and preparing for its eventual rise. New to the Summit agenda this year will be parallel curriculum paths from which attendees can choose between two distinct basic training circuits, or “boot camps.” Attendees can expect to come away with applicable business-focused sales, marketing, and operational best practices. And, as last year’s attendees can attest — this also means a valuable networking opportunity.

The National Settlement Services Summit has sold out three years in a row. Registrations are being taken now at www.octoberresearch.com/ns3 , or by calling 877-662-8623, extension 6507, 6104 or ext. 6626.

Indecomm Global Services was named in the list of top 100 Global IT and BPO service providers. The Global Services 100 list, brought out by Global Services and neoIT is a highly credible listing of global IT services and BPO companies. The list represents companies who have the maturity and capability to lead the next wave of services globalization.

About Global Services

Global Services is a media platform with a portfolio that includes a magazine, website, events, newsletter, and customized solutions. Our audience consists of corporate professionals engaged in the sourcing and management of business and technology services. Global Services is owned by CyberMedia (India) Limited www.globalservicesmedia.com

About neoIT

Global Services is a media platform with a portfolio that includes a magazine, website, events, newsletter and customized solutions. Our audience consists of corporate professionals engaged in the sourcing and management of business and technology services. Global Services is owned by CyberMedia (India) Limited www.neoIT.com

Indecomm Global Services has been featured in Red Herring’s list of the top 200 private companies globally. Red Herring finalists are the top private companies selected by the media company’s editorial team after a thorough analysis of their business models, size, profitability, and technology. Red Herring shortlists the premier companies throughout Asia, and the listing is yet another instance of Indecomm being recognized for its leadership and the enduring value it has delivered to its clients.

August 21, 2007, India - Indecomm Global Services (“Indecomm”), a leading international business process outsourcing and services firm, announced today that it has acquired Brainvisa Technologies Private Limited (“Brainvisa”), a leading global eLearning solutions company. This is the second acquisition done by Indecomm Global Services this year, after it recently acquired US Recordings, a US-based leading provider of mortgage recording solutions.

Welcoming Brainvisa to the Indecomm Group, Naresh Ponnapa, President and CEO of Indecomm Global Services, said “eLearning is the answer to the global resource crunch for skilled workers and will help the transformation of traditional business models into the e-Business paradigm. Leading companies worldwide are resorting to technology-based training solutions to keep their workforce skilled, productive, innovative, and competitive. We believe that having Brainvisa in our fold will be the perfect complement to our business goal of optimizing our clients’ business processes, improving productivity, and powering their competitiveness in the knowledge economy.”

Commenting on this development, Supam Maheshwari, Brainvisa's co-founder and CEO, said, “In just over six years, Brainvisa has matured into an integrated end-to-end learning solutions provider. In Indecomm, we have an organization that understands the value that we can create for our customers through well-designed and delivered learning solutions. Indecomm’s innovative and forthright approach to business, its strong relationships with its clients, and its substantial resources will help Brainvisa consolidate its position as a global learning solutions provider. We expect to gain a lot from Indecomm’s global execution model, with its blended onsite, onshore, and offshore delivery structure. This association will also help Brainvisa embark on the next phase of its journey, where we expect to see aggressive expansion, both organically and inorganically.”

Brainvisa is one of the largest global Learning solutions companies and helps businesses around the world to increase learning effectiveness by designing and delivering customized learning solutions aligned to specific business objectives. Brainvisa’s key competencies are its instructional design and end-to-end learning solutions. Brainvisa, one of the fastest growing learning solutions company, currently has a 450-strong development team in two state-of-the-art development centers in India. Brainvisa offers end-to-end blended learning solutions which include Consulting & Training Needs Analysis, Design and Development, Deployment, and Maintenance in aviation, logistics, pharmaceutical, BFSI, telecom, and technology verticals. It has a presence in the United States, UK, Europe, the Middle East, and Australia. Brainvisa’s client roster includes leading Fortune 500 companies, who have benefited from Brainvisa’s solutions in achieving a competitive advantage through increased sales, improved productivity, reduced time to market, improved employee retention, and reduced training time.

About Indecomm Global Services

Indecomm Global Services is a leading consulting, business process outsourcing and technology services company, with four principal divisions: Mortgage Services, Retail Banking Services, eLearning and Corporate Training, and IT Services. Indecomm’s seamless onshore-offshore technology-enabled operations are the central point of its global delivery model, offering clients both scale and cost advantages. Expertise in imaging and workflow technologies and extensive knowledge of processes and domains has enabled Indecomm to produce significant, measurable business gains for its clients. It has been featured in Red Herring's list of the top 200 private companies in Asia, ranked among the top five emerging services companies by The Indus Entrepreneurs, featured in Fortune Magazine’s 2007 “The Global Outsourcing 100,” and has been recognized for management excellence and its outstanding contribution to industrial development in India. Indecomm is funded by leading global venture capital funds, including Sequoia Capital and Tiger Global Management.

Contacts

Indecomm Global Services

Brainvisa Technologies

July 27, 2007, New York - Indecomm Global Services, a leading international business process outsourcing and services firm, announced today that it has completed the acquisition of US Recordings, Inc., headquartered in St Paul, Minnesota. US Recordings is a pioneer in electronic technology for the mortgage recording industry, serving the residential mortgage market, including all of the top ten lenders, the title industry, and the legal community. The company covers over 3,700 jurisdictions across all 50 states.

“US Recordings provide a powerful complement to our strong technology-based business process outsourcing solutions for the mortgage industry,” says Naresh Ponnapa, President & CEO of Indecomm Global Services. “This move is in line with our stated direction of combining our sound organic growth platform with an acquisition-led strategy. Our goal is to be a complete partner, with the most comprehensive set of outsourcing solutions available in the industry with capabilities spanning consulting and technology, and a seamless global delivery model for back office processing.”

“This move was all about people and productivity,” said Jeff Carlson, President & CEO, US Recordings. “We have been working with Indecomm on several outsourcing initiatives for the past two years. Our cultures are similar, and we share the same vision with regard to leveraging technology to deliver superior solutions to our clients. I am convinced that by taking this partnership to another level, we are creating a business model that is robust and enduring and one that will deliver great customer value.”

About Indecomm Global Services

Indecomm Global Services is a consulting, business process outsourcing and technology services company with four principal divisions: Mortgage Services, Retail Banking Services, eLearning and Corporate Training, and IT Services. The company’s seamless onshore-offshore technology-enabled operations are the central point of its global delivery model, offering clients both scale and cost advantages. Expertise in imaging and workflow technologies and extensive knowledge of processes and domains have enabled Indecomm to produce significant, measurable business gains for its clients. It has been featured in Red Herring's list of the top 200 private companies in Asia, ranked among the top five emerging services companies by The Indus Entrepreneurs, featured in Fortune Magazine’s 2007 “The Global Outsourcing 100”, and has been recognized for management excellence and its outstanding contribution to industrial development in India.

Contacts

Indecomm Global Services

U.S. Recordings

Indecomm Global Services, a leading transaction processing BPO, was presented with an Excellence award on 20th April, 2007 for its outstanding performance and contribution to industrial development in India. The award was given at the conference on Economic Development held by the Institute of Economic Studies (IES), New Delhi, India. During the event, Indecomm President and CEO Mr. Naresh Ponnapa was also honored with the “Udyog Rattan” award. In previous years, the IES awards have been presented to leading personalities across industries.

“The IES award is another milestone in our quest for corporate excellence. We feel honored to be recognized for our contribution to the economic growth of India,” said Mr. Ponnapa.

Indecomm Global Services, an ISO 9001:2008 certified company, offers business process services and IT services to companies in the domains of Mortgage Processing, Financial Services, Benefits Administration, and Healthcare and Insurance.

The Institute of Economic Studies (IES), a premier research-oriented organization, was established in 1980 by a group of economists, parliamentarians, and industrialists as a forum to study and offer expert services on various aspects of the economy.

“With IBM software, we’re in the process of establishing a flexible, highly integrated IT platform that will not only streamline internal operations, but will also help us expand our offerings to better serve our customers.” —Krish Hari Anand, CTO, Indecomm Global Services

Working with IBM, Indecomm is in the process of implementing an automated process runtime engine through which it can map, choreograph, and deploy all of its internal business processes with the necessary process workflows. To model its new business processes, Indecomm is deploying IBM WebSphere® Business Modeler software. The software exports data via Business Process Execution Language (BPEL) to IBM WebSphere Integration Developer software, which develops the process code and required Web services. Indecomm developers then use IBM Rational® Application Developer for WebSphere Software to add Java™ 2 Enterprise Edition (J2EE) coding to the process code and Web services. Indecomm leverages several other IBM software tools throughout the development process.

To store the documents, images, and files critical to the new solution, Indecomm is also implementing IBM DB2® Content Manager for Windows® software.

Benefits

• Helps to shorten the client’s application development cycle
• Provides enhanced integration capabilities through the use of open standards
• Helps to boost market share by enabling Indecomm to target larger customers

CEO Naresh Ponnapa has featured on the Dec 2006 – Jan 2007 cover of International Outsourcing Magazine, OutsourceAPAC. The magazine identified Indecomm Global Services as an Industry Leader in Consulting, Technology, and Outsourcing after conducting an exhaustive survey on different company practices and competencies in 2006.

OutsourceAPAC is Asia's first and only International magazine promoting Outsourcing in the Asia-Pacific region. OutsourceAPAC contains up-to-date information on current outsourcing trends in USA, Europe, and Asia-Pacific, both for the buyers and service providers of outsourcing. It includes in-depth articles, features, interviews, and write-ups on IT outsourcing, Manufacturing outsourcing, Technology outsourcing, Software Development, BPO, ITES, Call / Contact centers, Off shoring / Near shoring, Business continuity planning, and Disaster recovery, and extensive coverage of International outsourcing conferences /seminars held worldwide - all sourced from International outsourcing analysts, domain experts, professional consultants, and news agencies around the world.

The International Association of Outsourcing Professionals (IAOP) has identified Indecomm Global Services as one of 2007’s best outsourcing service providers for “The Global Outsourcing 100,” which is a global listing of the top 100 outsourcing service providers for the year 2007.

Relative rankings, selection process details, and company profiles will appear in a special advertising feature, produced by IAOP, in the April 30th FORTUNE 500 issue of FORTUNE® magazine.

Companies were judges on four critical characteristics: size and growth, customer references, organizational competencies, and management capabilities.

The International Association of Outsourcing Professionals (IAOP) is a global membership-based organization shaping the future of outsourcing as a management practice, as a profession, and as an industry. Its members are line and staff, executives, and managers, with the vision and expertise it takes to design, implement, and manage their company’s global corporate ecosystem. This new breed of outsourcing professional enhances their company’s success and their own careers by taking advantage of a wide array of association services, including networking, research, training, and certification.

The Software Technology Parks of India has awarded the Certificate of Excellence as Fastest Growing IT subject matter expert to Indecomm Global Services. The Association identified Indecomm as the recipient of the award after an exhaustive evaluation of the company on various characteristics.

Indecomm is a knowledge-based process outsourcing company that makes extensive use of intelligent technology. It has Six Sigma, ISO 9001:2008, and ISO 27001:2005 accreditation.

Indecomm is featured in Red Herring's list of the top 200 private companies in Asia, ranked among the top five emerging services companies by The Indus Entrepreneurs, and listed as one of the top 20 companies in 2004-05 by Business Today, India’s leading business magazine, apart from winning numerous awards in other categories.

Software Technology Parks of India (STPI) is a society set up by the Ministry of Communication and Information Technology, Government of India, with the objective of encouraging, promoting, and boosting software exports from India.

Indecomm Global Services, with operations in the US and India, announced today that it has signed an agreement to acquire Mortgage Dynamics Inc., McLean, Virginia, one of America’s leading mortgage banking management consulting and outsource services firms. The parties expect to complete the transaction by June 30, 2006.

The 18-year old company was sold for a combination of cash and stock. Indecomm will adopt the Mortgage Dynamics brand name for its US mortgage outsourcing operations. The firm will continue under the leadership of Mary Bruce Batte and Dan Measell.

Indecomm is a leading international business process services firm, with headquarters in Bangalore, India and operating centers in America. The company, which has already made considerable inroads in the mortgage industry, gains a well-respected US firm that provides services and advice to over 100 industry firms each year, including many top-tier companies. It 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.

Naresh Ponnapa, President and CEO of Indecomm, said, “This is a very strategic acquisition for us and will set the stage for dramatic growth going forward. The combination of our two companies will create an institution of superior capabilities and customer reach. The value proposition is profound and is built upon three principles: commanding domain knowledge, world-class use of technology applications to enhance customer performance, and global delivery of operating solutions. We will be one of a kind in the mortgage business.”

MDI expects gains in productivity for itself and its clients through Indecomm’s innovative technologies and process flow concepts. Mary Bruce Batte, co-founder with Dan Measell, said, “We will continue to offer our full suite of services and will add Indecomm’s broad base as well. Improving efficiency and compliance while reducing costs is the thrust for our clients. Indecomm and MDI share the same view that outsourcing for cost reductions alone is a risky strategy. The most successful outsourcing strategies are those that make internal operations improvements possible for client operations which remain on-shore.”

Co-founder Dan Measell added: “This transaction will bring valuable capabilities to our clients. One of our goals is to bring the benefits of the onshore and offshore combination to the next tier of banks and mortgage companies. We will offer a suite of turnkey products that large and mid-size mortgage entities can consider without the need to make extraordinary investments of management time or financial capital.”

Additional Information

Indecomm is a knowledge-based process outsourcing company that makes extensive use of intelligent technology. It has Six Sigma, ISO 9001:2008, and ISO 27001:2005 accreditation. Its website is www.indecommglobal.com

Indecomm is featured in Red Herring's list of the top 200 private companies in Asia, ranked among the top five emerging services companies by The Indus Entrepreneurs, and listed as one of the top 20 companies in 2004-05 by Business Today, India’s leading business magazine.

MDI services also include merger and acquisition support and review of counter-parties for warehouse lenders and major owners of loans and servicing rights.

MDI has offices in McLean, VA, Denver, Colorado, Upper Marlboro and Frederick, Maryland. Its website is www.mortgagedynamics.com

MDI is active in the Mortgage Bankers Association. Mary Bruce Batte is a member of the national MBA Board.

Bangalore: Indecomm Global Services, a widely recognized international business process services firm, and LandAmerica Financial Group, Inc. (NYSE: LFG), a leading provider of real estate transaction services, announce the formation of IntelliHub Solutions and Services, a joint venture between the two companies. The new firm is an Intelligent Document Hub (IDH) serving the mortgage, remittance processing, financial services, and healthcare industries. It will be located in Louisville, Kentucky. Currently, the LandAmerica Agency Services Center in Louisville meets the document processing needs of LandAmerica’s extensive network of 10,000 title insurance agents. IntelliHub will eventually manage this function, while also providing such services to clients in other industries. The IDH is a unique concept that integrates the ability to handle complex business documents, convert them into a digital format, and manage them with a proprietary onshore-offshore processing model. The result is a turnkey business process solution for clients seeking to outsource document-based processes and lower costs by converting fixed costs into a variable cost structure.

LandAmerica President and CEO Theodore L. Chandler, Jr. stated, “The formation of IntelliHub enables our company to apply standardization and the benefits of an offshore operation to non-client facing services, while strongly differentiating LandAmerica through a customer-focused solution to processing complex documents. This creative solution is consistent with our forward-thinking approach to growing our business.”

Naresh Ponnapa, President and CEO of Indecomm, confirms, “IntelliHub is yet another exciting development that ties in with Indecomm’s inorganic growth strategy. LandAmerica will benefit by achieving the scale, increased quality, lower costs, and growth opportunities it seeks, while Indecomm will gain the ability to market our expertise in document management, workflow technologies, and related business process services to other clients in the financial services and healthcare industries.”

About Indecomm Global Services

Based in Iselin, New Jersey, Indecomm Global Services is an ISO 9001:2008 and ISO 27001:2005 accredited company which offers business process and IT services to customers in the domains of mortgage processing, financial services, benefits administration, healthcare, and insurance. The company’s onshore-offshore based operations are the central point of its global delivery model, offering clients both scale and cost advantages. Expertise in imaging and workflow technologies and extensive knowledge of processes and domains have enabled Indecomm to produce significant, measurable business gains for its clients. Indecomm is featured in Red Herring's list of the top 200 private companies in Asia; it has been ranked among the top five emerging services companies by The Indus Entrepreneurs (TiE) and featured among the list of top 20 companies for the year 2004-05 by Business Today, India’s leading business magazine.

About LandAmerica Financial Group, Inc.

Based in Richmond, Virginia, LandAmerica Financial Group, Inc. is a leading provider of real estate transaction services. Through its many subsidiaries, LandAmerica serves residential and commercial customers with more than 900 offices and a network of 10,000 active agents throughout the United States, Mexico, Canada, the Caribbean, Latin America, and Europe. LandAmerica is recognized in Fortune magazine’s 2006 list of America’s most admired companies and is ranked as a Fortune 500 and Forbes Platinum 400 company.

Bangalore, May 8th, 2006: Centurion Bank of Punjab Ltd., a leading private sector bank, and Indecomm Global Services, a widely recognized international business process services firm, have announced their intent to form Centillion Solutions and Services, to focus on back office processing services for Retail Banking and related financial services. Indecomm Global Services and Centurion Bank of Punjab have been featured in Business Today’s ’20 companies to watch’ in the years 2004 and 2005 respectively. This enterprise partnership will play to the strengths and competencies of the respective companies.

Centillion will be headquartered at Bangalore. The retail asset servicing operations of Centurion is being transitioned to Centillion in a well-structured plan, commencing with the Centralised Operations (COPS) functions performed out of Bangalore.

According to Shailendra Bhandari, Managing Director, Centurion Bank of Punjab, “Centillion will help the bank implement process improvement technologies that will improve efficiencies in its retail back office operations, cut down on the gestation period in implementing these cutting-edge processes, and equip the bank to manage the rapid growth that it is currently going through, without compromising on control and quality.”

Naresh Ponnapa, President & CEO, Indecomm said, “We bring to the table our global experiences and best practices, and are confident that we will be able to bring about significant improvements to Centurion’s operations We are very excited with this development and believe that such enterprise partnerships are the way to go.”

“We are confident that, with this initiative, operations will be a source of competitive advantage for the bank. This will further give our operations staff opportunities to enhance their skills and experience in a cutting-edge environment,” said Anil Jaggia, COO, Centurion Bank of Punjab.

Added Ashoke Dutt, Chairman of Centillion, “The vision for this JV is to combine Centurion’s expertise in retail banking with the world-class process and technology expertise from Indecomm to potentially become a large, specialized, end-to-end processing company for banks and FIs around the world.”

(Ashoke Dutt was formerly Country Head for Citibank in India, and was the former Head of Marketing for Discover Cards in North America)

About Indecomm Global Services

Indecomm Global Services is a recognized specialist Business Process Services provider that leverages cutting edge technology, process excellence, and a deep domain expertise to deliver superior business results to clients the world over. Indecomm deploys an innovative global execution model, using a blended onsite, onshore, and offshore delivery structure backed by proprietary, in-house processing platforms. The company has significant expertise in intelligent data capture, document management, and workflow automation, and participates in the banking and financial services, retail, benefits administration, and healthcare verticals. Indecomm’s clients include some of the best known names in the global financial services industry.

Founded by a group of high caliber professionals from global corporations and thought leaders in niche technologies, Indecomm’s management team is accomplished and is drawn from some of the finest companies. Their Chairman, John Torell III, has been Chairman or President of a number of major American banking institutions and has participated in virtually all phases of the financial services industry. Indecomm Global is backed by International Finance Corporation and WestBridge Capital Partners.

About Centurion Bank of Punjab

Centurion Bank of Punjab is a new generation private sector bank offering a wide spectrum of retail and corporate banking products and services. It holds leadership positions in retail two-wheeler loans and commercial vehicle loans. It has been among the earliest banks to offer a technology-enabled customer interface that provides easy access and superior customer service. A globally experienced management team is in place, including Mr. Rana Talwar as the Chairman of the Board of Directors and Mr. Shailendra Bhandari as the Managing Director & CEO.

Indecomm is proud to welcome Cathleen Raffaeli, President and Chief Executive Officer of Cardean Learning Group (CLG), to its Board of Directors. Apart from being the President and Chief Executive Officer of Cardean Learning Group (CLG), Cathleen is also the President of Cardean University, a leading internet-based adult education university. Cathleen has been employed at the highest levels at some of the world’s largest financial services institutions, including Citi Corp, Chemical Bank, Merrill Lynch, Emery Worldwide, and the Continental Group. With over 26 years of experience in the financial services industry, Cathleen’s experience spans every facet of the financial services space, including financial services products, outsourcing solutions, enterprise software, technology, and eLearning solutions.

Her key areas of focus include business development, sales and marketing, strategy, and asset redeployment. Cathleen is currently a Director of the E*Trade Group the American Home Mortgage Investment Corporation. She is also on the board of the JHPIEGO, an affiliate of Johns Hopkins University, a global not-for-profit organization dedicated to improving the health of women and families. Cathleen holds an MBA degree from New York University, where she graduated with honors.

Indecomm Global Services is proud to welcome on board Maria Elena Amirault as its Head of Operations, United States. With over two decades of experience across the Financial Services industry and customer-oriented enterprises, Maria has worked with some of the leading financial services institutions in the country, including Bank of America, Fortune Bank, and Florida National Bank.

Prior to joining Indecomm, Maria was a Senior Manager reporting directly to the CEO at Central Florida Euro Cars, a leading car dealership working with some of the most reputed automotive brands. At Central Florida Euro Cars, Maria anchored end-to-end responsibilities from management of relationships at the factory level to the actual management of the entire business. Maria graduated from the University del Valle, Columbia, in 1982.

Vidya Ravikumar, previously the National Collections Head for Standard Chartered Bank, has joined Indecomm Global Services as its head of operations. A post-graduate in Management with close to two decades of experience in the financial services industry, Vidya’s career spans assignments with companies such as Citibank, GE Capital, ICICI Bank, Intelenet Global Services, and Standard Chartered. Prior to her stint with Standard Chartered Bank, Vidya was the site leader & operations Head for Intelenet Global Services, a leading BPO company in India.

Indecomm is proud to announce the appointment of John R. Torell III as Chairman of its board of directors. John is a Partner of Core Capital Group, a private equity investment firm. He has been chairman or president of a number of major American banking institutions and has participated in virtually all phases of the financial services industry. John is the former President of Manufacturers Hanover Corporation and Manufacturers Hanover Trust Company, and the former Chairman, President, and CEO of CalFed Inc. He was also the Chairman and CEO of Fortune Bancorp, Tampa, as well as the Chairman of Telesphere, Inc.

John is currently a Director of Wyeth and a number of private companies. He previously served as a Trustee of Columbia University's Graduate School of Business as well as a Director of the Juilliard Foundation, the Financial Services Corporation of New York, the New York State Banker's Association, and the New York State Banking Board. He is also the Chairman of the International Executive Services Corps, a non-profit organization providing executive volunteers to developing countries and emerging democracies. He graduated from Princeton University with a B.A. in Economics and studied at New York University's Graduate School of Business and the Graduate School of Credit and Financial Management at Dartmouth.

Indecomm Global Services has opened its third facility in Bangalore. The additional facility is part of a major expansion in response to the increasing traction we have been witnessing in the market. Apart from its new facility in Bangalore, Indecomm has also gone in for a major expansion of its facility in Mysore. Indecomm today operates four separate facilities in Bangalore and Mysore. The new facilities will provide additional capacity for Indecomm, apart from providing business continuity to all its client engagements.

Indecomm Global Services has been featured in Red Herring’s list of the top 200 private companies in Asia. Red Herring finalists are the top private companies selected by the media company’s editorial team after a thorough analysis of their business models, size, profitability and technology. Indecomm was shortlisted from over 500 premier companies throughout Asia, and is one of only three BPO vendors chosen by Red Herring in the list of finalists; the listing is yet another instance of Indecomm being recognized for its leadership and the enduring value it has delivered to its clients.

Indecomm Global Services has been adjudged an emerging star at TiEcon 2005, the world's largest conference for entrepreneurs, held at Santa Clara on the 13 and 14th of May, 2005. TiE emerging stars are companies who hold the most potential to be the leaders within their respective industries. Nominated by technology industry veterans and successful entrepreneurs from among TiE's 10,000+ worldwide memberships, Indecomm was recognized as an “Emerging Star” in the “Services” category, based on a rigorous evaluation of its management team, market success, competitive advantage, business model, and corporate development.

Indecomm Global Services opened a new delivery centre at Mysore in March. The new state of the art Mysore facility will provide specialized IT-enabled support services for Indecomm’s clients in transaction processing and high-end financial services, while ensuring business continuity for Indecomm’s multiple locations in Bangalore. Indecomm proposes to hire over 500 people over the next few months for its Mysore operations.

Indecomm will be demonstrating its pioneering solutions for the financial services industry at the TAWPI 35th Annual Forum & Exposition. The TAWPI Annual Forum & Exposition is the leading event for technology and management professionals in data capture, mail, imaging, payment/remittance, and document and forms processing. Do visit us at booth # 1028 on 24th and 27th of July, 2005 at the Baltimore Convention Center in Maryland for a demonstration of our innovative solutions.

Date	Location	Booth
24th - 27th July 2005	Baltimore Convention Center in Maryland	1028

Contact

Indecomm Global Services has been recognized by leading industry expert NeoIT in their first ‘Annual Offshore 100' Ranking of Top Global Outsourcing service providers.

The 'Offshore 100' honors global BPO and ITO companies that demonstrate leadership, innovation, and outstanding performance. Over 250 data points were analyzed from a wide range of service providers that included large multi-national firms, emerging BPO providers, and small domestic IT services firms. The data points were clustered in four categories that included general company information, client data, operational capabilities, and human resource policies. Respondents to the survey included firms from 13 countries around the world, representing the most popular offshore destinations, including India, Philippines, China, Russia, Malaysia, and Mexico.

2004 began with Indecomm being the only BPO company to be a part of the “20 companies to watch out for in the year 2004” list published by Business Today (India’s leading business publication). We have made significant strides in the last twelve months in strengthening our offshore capabilities – honing our technology-driven business processes, adding human capital, and expanding physical infrastructure.

Indecomm is proud to be demonstrating its pioneering solutions for the Financial Services Industry at the AIIM 2005 Conference and Expo. AIIM 2005 is the largest enterprise content & document management conference and exposition, showcasing the technologies and solutions that provide intelligence behind information. Do visit us at booth # 1057 on 17th and 19th May, 2005 at the Pennsylvania Convention Center , Philadelphia for a demonstration of our innovative solutions.

Date	Location	Booth
17th - 19th May 2005	Pennsylvania Convention Center, Philadelphia	1057

Contact

Services that Benefit

Indecomm Global Services offers a unique set of back office outsourcing solutions to the Benefits Administration industry. We use a technology interleaved services delivery platform and an offshore model to bring about measurable business benefits to our clients. Indecomm’s clients have benefited from improved operational efficiency, high quality, and significant cost savings.

Service Offerings

• FSA and COBRA processing
• Health Plan Enrolment and Record Keeping
• Mail handling services
• Check printing and mailing
• Adjudication and Settlement services
• Maintenance and reconciliation of escrow account
• Voice-based help desk to attend to employee queries

We invite you to visit our booth 1121 for a demonstration of our innovative solutions, from 10 a, to 5 pm on 12th and 13th April, 2005

Roger S. Leeds is a professor and director of the Center for International Business and Public Policy at the Johns Hopkins University, School of Advanced International Studies.

This book is designed to enhance understanding about the practical issues that investors, entrepreneurs, and policy makers, as well as students of international development, must contend with in order to improve small business access to investment capital in developing countries. The volume contains a number of case studies that describe and analyze a number of actual small business investments in order to highlight the special risks, challenges, pitfalls, and commitments that are found in most developing country investment environments. The diversity of the cases, covering a range of countries and sectors, highlight the gamut of skills and issues that must be mastered to succeed in financing small businesses in developing nations.

Indecomm was identified as a contender mainly because of the strength of its Business strategy, which has led to its becoming a pioneer in the Mortgage Services industry. Indecomm’s proprietary eTitleExpress Technology framework and unparalleled process excellence in document management systems has made it the industry leading Global Outsourcing services provider.

Indecomm Global Services, has been The 2010 GS100 list represents companies that serve mature global customers through advanced global delivery models, have broad portfolio of service offerings or niche leadership, and have demonstrated business excellence. The 5th Annual GS100 study was conducted by Global Services in association with NeoAdvisory, the globalization and sourcing advisory firm.