Mortgage lender improves process efficiency by ~30% and elevates customer experience

Background

Leading Mortgage player improves business outcomes through cycle time reduction

Business challenge

  • Re-engineer loan origination processes at the height of a mortgage boom and streamline inefficient lending processes.
  • Itemize elements of the current loan origination process, identify new technology and business processes, and create an orderly plan for modernization.
  • Prepare the client to internalize the technology and assume control of its use and development following platform stabilization and final UAT.
  • Establish an in-house automation capability by creating a Center of Excellence for automation.

Sourcepoint solution

  • Re-engineered loan origination processes
  • Automated validation of standard conditions for title, hazard, VOE and refi payoff amount
  • Flood Certification check
  • FNMA / FHLMC check current loan holder on conventional refi loans

Business impact

  • Increased productivity by improving process efficiency by ~30%.
  • Reduced turnaround time for the end-to-end process by ~20%.
  • The client applauded us for our agility, progress reporting and domain knowledge, which inspired confidence in the process.

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