Flood, earthquake, lead paint and country of origin. Can you imagine preparing a disclosure document covering where the paperwork for a loan was processed? Imagine if mortgages were "manufactured" in India. Would we disclose that the HUD-1 and the post-close documentation clean up were handled in India? Would we add a label that says, "This mortgage was assembled from foreign and domestic components" or simply, "Mortgage Made in India," just like the labels that say "Made in China?" When you first go to India, the notion that American lenders will handle financial paperwork and call center services from Bangalore or Bombay seems improbable. Yes, modern telecommunications can put an IP phone on a desk anywhere, and the Indians do speak English. But it is not as easy to understand as a Bo...
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