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Hyderabad, Aug. 29 As a fallout of the sub-prime crisis in the US, India may witness loss of jobs in thousands in back-end offices that are involved in processing of mortgage business, according to Mr Stephen E. Roulac, Chief Executive Officer of the US-based Roulac Global Places, and an expert on real estate and finance.

Job losses could be witnessed in offices that take up works such as verifying the mortgage applications for the US companies.

Mr Roulac was delivering a lecture on ‘Sub-prime meltdown-genesis and implications’ at ICFAI School of Financial Studies here on Wednesday.

Answering a question on the possible impact of the sub-prime crisis on India, he, however, felt that the impact would be temporary.

“In the long-term, I don’t see any adverse impact on the economic momentum,” he said.

Aspirations, energies and ambitions of people have not changed, he said, giving an optimistic picture for the long term.

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