In the latest sign that U.S. mortgage companies are going global, Electronic Data Systems Corp. plans to start processing and subservicing loans for lenders in the United Kingdom.

EDS, which is sending mortgage veteran Michael A. Hyman to its U.K. office to lead the effort, is one of several U.S. companies that want to become the main outsourcer for the U.K. home loan industry. Others are Global Home Loans, a joint venture between Countrywide Credit Industries and Woolwich PLC; a joint venture between Alltel and Bradford & Bingley; and HomeSide Lending.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.