Large regional lender boosts compliance & cuts cost by $4 Million annually


A large regional lender originating $2B in conventional, FHA and VA loans primarily through retail and direct to consumer channels.

Business challenge

Today’s digital-first customers expect smooth and rapid processing of mortgage loans on a channel of their choice. To become more responsive to customer needs and drive an aggressive growth plan of doubling its origination volume within a six month period, the client needed to re-engineer its processes and cut its cycle time by 50%. In addition, the client lacked compliance policies and procedures as well as the expertise required to understand and implement new regulatory requirements, resulting in an increased risk of violations and penalties.

Sourcepoint solution

Within eight weeks, Sourcepoint thoroughly analyzed and determined the cause of cycle time lags and developed a proposal to drive the necessary process change. Our compliance and process consulting experts provided component mortgage services to augment client’s internal capabilities and completed a CFPB Mock Audit to fix compliance issues and prevent potential regulatory penalties.

Business impact

  • Cost Savings to the tune of $4 Million per year
  • Reduced Cycle time by half (30 days)
  • Cut variable staffing costs by 50%
  • Generated 20x ROI and three month break even on consulting investment

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