1 Customer
- A Top Mortgage Originator Bank in the U.S
2 Business Situation
- Post close errors resulted in significant revenue leakages due to delays in selling loans in the secondary market
- Delays caused due to incorrect loan closing
3 Solutioning
- SmartTrans® methodology used with an objective to reduce data errors through the loan lifecycle
- Detailed analysis of the post-closing error report
- Identified gaps in upstream and downstream processes
4 Execution
- Created new process maps and re-engineered processes
- New procedures re-orientation training conducted
5 Value Delivered
Reduced Days to Fund from 48-55 days to 35-40 days
Reduction in errors led to reduced cost to cures from $55-$60 to $12-$17
Identified additional savings from new opportunities worth $1.34 MM
We are singing your praises at every opportunity – when you perform at this level consistently day in and day out; we reinforce the value proposition of Coforge
VP, Mortgage & Consumer Lending
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