First Indian to extend service offerings in India

Chennai, Jun 6: First Indian Corporation, a wholly owned subsidiary of the First American Corporation has evinced interest to further extend its product and service offerings in the Indian market.

To facilitate this, First American officers recently visited India offices in order to gain greater insight into the corporation's overseas operations, a company release here today said.

During the visit, they reviewed opportunities to further extend First American's product and service offerings in the Indian market.

They met with with a high government official to exchange views on First American's expansion plans and learned more about the Indian government, culture and economic vision.

According to statistics, the current value of real estate loans in India is approximately US dollar 50 billion. This was expected to grow at a rate in excess of 25 to 28 per cent annually.

India has 67 cities of more than 500,000 population and commercial growth was booming, with global and local retailers eyeing India's youthful middle class, which is among the fastest growing in the world.

All of the top ten US-based mortgage originators, as well as the top ten US-based mortgage servicers, now source significant core processing services from India.

The majority of the leading mortgage providers in the United Kingdom and Australia follow similar sourcing patterns, the release added.

UNI