The Performance Group and Equinox Create Alliance to Offer Outsourcing Services; Companies Focus on Six Sigma to Deliver Client Results

Business Wire, July 21, 2004

CONCORD, N.H. -- The Performance Group (TPG), a mortgage consulting firm, and Equinox Corporation, a global business processing outsourcing (BPO) provider for the mortgage industry, announced a business alliance to offer outsourcing solutions in combination with consulting services to clients. Through the alliance, TPG clients gain access to Equinox's outsourcing solutions for all aspects of mortgage banking, while Equinox clients can benefit from TPG's performance management, process design competencies and consulting services.

TPG offers a stateside presence for those companies seeking to offshore work processes. The company starts by leading its clients through a review of their strategies and business model that helps them determine if the outsourcing option is right for their needs. When it is, TPG will help clients identify the outsourcing opportunities best suited for optimizing shareholder value and customer satisfaction. The mortgage consulting firm assists their clients through each phase of the outsourcing process, making the transition less stressful while reducing the associated risks of working offshore. Additionally, TPG assists clients with establishing the metrics and controls necessary to successfully monitor and manage the outsourcing relationship.

"With the end of the refinance boom, many of our clients are seeking ways to gain better control over their variable costs, while improving service to customers," said Larry Bonifant, founder and president of TPG. "Outsourcing is at the forefront of many executives' minds. It offers a viable alternative for originators and servicers to effectively resolve the issues of escalating salaries, employee training, workload leveling and, in many situations, quality improvement."

Both TPG and Equinox practice Six Sigma, a quality philosophy that uses client-focused goals and measurements, to drive continuous improvement and customer satisfaction at all levels in companies.

"Outsourcing provides substantial quality and cost savings; however, the idea of outsourcing can be uncertain for a company," said Don Ganguly, chief executive officer of Equinox. "We design our solutions to meet the requirements of our clients' loan processing or servicing needs while integrating best practices and Six Sigma DNA.

"TPG reviews or validates how our outsourcing solutions work with a client's processes to create the most effective outsourcing practice. With more than a decade of experience in the mortgage industry and the company's reputation for process design, TPG fits the bill in helping us ensure our client's success."

Bonifant concluded, "Introducing our clients to Equinox and its outsourcing solutions is a natural addition to our core services that are tailored to help companies achieve performance excellence. TPG is committed to bringing our clients the best solutions to achieve their performance goals."

About Equinox

Equinox provides cost-effective, high quality customer acquisition and business process outsourcing (BPO) services for mortgage loan originators and servicers worldwide. Some of the key solutions from Equinox include SmartAcquisition(TM) and StopRunnoff(TM). The management brings on board a rich experience of working with large financial institutions such as Merrill Lynch, Sun America, H&R Block, Chase, Cendnant Mortgage, Lending Tree, Option One and Onyx Acceptance Corporation.

Key members of the Equinox team are Six Sigma experienced and certified individuals who come from the leaders in the offshore BPO space such as GE Capital, Citi Group and American Express.

Equinox is a member of The Chatterjee Group (TCG) family of companies. For more information, visit the company's Web site at www.equinoxco.com.

About The Performance Group

The Performance Group, based in Concord, N.H. and founded in 1990, is the leading consulting firm specializing in the mortgage banking industry. The Performance Group offers a variety of consulting services designed to increase productivity, improve customer service, reduce costs and encourage continuous innovation. With its unique methodology, The Performance Group offers a comprehensive program based on evaluating the five key perspectives of a lending organization - Financial, Customer, Process, Technology, and Employee Development.

The Performance Group is the only consulting firm that is a member of the e-Mortgage Alliance. It is also a member of the Mortgage Bankers Association (MBA), the Mortgage Industry Standard Maintenance Organization (MISMO), and the Association of Management Consulting Firms (AMCF). For more information visit the company's Web site at www.tpgltd.com.