James Governor's Monkchips

You Know IBM owns a mortgage company, right?

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As a long time watcher of IBM, which makes great play about not competing with its customers, it’s interesting to see the firm evolve as it acquires and builds more business process outsourcing functionality, and continues to build the capabilities of its Global Finance arm.

Thus, did you know that IBM became a shareholder in a Chinese bank in deal with Citibank in 2006?

Or as I noticed yesterday, that IBM is now ranked in the top four best large mortgage servicing companies by Fannie Mae.

IBM acquired Wilshire Credit Corp in 2009/2010, and the organisation, now renamed Seterus, just ranked in the top four according to STAR, a new Fannie Mae program designed to rate Fannie Mae servicers in their overall performance, customer service and foreclosure prevention efforts. Employees may not be so convinced.

On balance, however, it probably makes sense for IBM to be directly involved in refinancing America’s domestic property balance sheet, and anything that helps reduce unnecessary foreclosures is good with me.


IBM is a client.



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