Indian technology outsourcers such as Tata (TCS.BO) and Wipro (WIT) are widening their revenue streams by providing mortgage and foreclosure services to U.S. banks. The work will bring in an estimated $316M in revenue, double the amount in 2009. The outsourcers will vet applicants for mortgages and make sure that banks have all the documents needed to start foreclosure, although critics are wary about the lack of oversight of these third-party vendors.
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