Workforce

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At Waquis, we utilize a domestic and global workforce to offer our clients the best pricing and customer service.

 

The world is a global place in the 21st century. Borders are blurred and virtually every segment of society is globalized.

 

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The mortgage industry is no exception.

 

Every major bank and financial institution has an offshore presence for IT, back-office functions, and even customer facing tasks.

 

Given the cyclical nature of the mortgage industry where revenue can drop 50% (or more) in a matter of months, it’s imperative to save costs with the ability to add and remove staff within a couple of month’s given market conditions.

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For that reason, Waquis works with our clients to ensure they remain competitive in the highly volatile mortgage industry using global labor for significant cost savings.

 

Waquis Offshore Facilities

 

Waquis we have a secure office building in Colombo, Sri Lanka that utilizes the following security measures:

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• Card key access.

• Full-time security guards.

• Dedicated workstations with browsing disabled.

• Floor monitoring and supervision.

• Secure servers with firewall.

• Fast Internet.

 

All employees work from our secure facility and never remotely.

 

Many US QC firm employ contractors who work from home. This is considered very high-risk and susceptible to fraud.

 

Employees

 

All quality control staff (domestic and global) are full-time employees of Waquis with full benefits such as health care coverage, generous vacation and sick leave, and a 401k program.

 

Our employees pass an extensive background and references check. We never employ contractors or temporary employees.

 

Most employees have been with us for a decade or more. They have extensive mortgage experience and the quality of work is extensive.

 

Domestic Team

 

Our global teams work jointly with domestic teams located in Portland, Oregon and White Salmon, Washington for a hybrid solution. The offshore team is constantly educated on new industry regulations and client requirements.

 

Our clients always have a dedicated domestic project manager for questions or concerns.

 

Quality of Work

 

Sri Lanka has, per capita, more accounting graduates than any other country in the world. Many of our employees have an accounting technician degree, an accounting degree, or a focus in finance or economics. Our employees are highly educated and detail oriented.

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Our domestic team features banking and mortgage executives with decades of experience.

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The quality of our work is exemplary and, in over 20 years, we’ve never lost a client due to lack-of-performance. Most of our clients are amazed at the quality of work and attention to detail of our teams.

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Data and Security

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Most data is always kept on the client servers or a secure party application (such as Sharefile or Dropbox). In the occasion we download any data, it is stored on our secure servers with SonicWall TZ600 software and protection. We utilize IT audits constantly to assess our system and security.

 

Cost Savings

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Company savings and the ability to easily add and remove staff are why working with Waquis is so imperative to the sustainability of many of our clients.

 

We are able to save our clients 50% (or more) on mortgage tasks and staffing.

 

For instance, most QC firms charge $250.00 per post-closing audit and we charge just $100.00.

 

Most mortgage staff cost between $27.00 - $36.00 per hour (including overhead) while our staff cost just $10.00 - $13.00 per hour (including overhead). Just five full-time employees can save a client $150,000.00 (or more) per year.

 

For staffing, we require as little as 30 days’ notice to remove staff and, often times,  just days’ notice to add staff allowing staff and labor costs to fluctuate with volume and market conditions.

 

American Incorporation

 

Waquis is an American company with company headquarters in Portland, Oregon with American ownership. All contracts are subject to American law and regulations.

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