1 Customer

  • A Leading US Bank originating residential mortgages

2 Business Situation

  • Wanted to reduce fulfilment cycle time
  • No real time status updates to Loan Officers/ Agents

3 Solutioning

  • Fast Track checklist for files submitted to UW - verify 1003 & LOS data
  • Remove hard stops and conditional approval delays due to missing documents
  • 3-tiered app processing to address missing information
  • Specialists prepared 4506T form & ordered VOE and Tax Transcripts

4 Execution

  • Parallel processing to reduce cycle time
  • Real-time feedback on deficiencies by Region and MLO 
  • 2 follow-ups by specialist team on deficiencies to move files faster to U/W

5 Value Delivered

Clear to close in 16 days 
  • 2.7 days quicker App to UW
  • 6.1 days faster clearing of conditions to obtain final approval
  • 1.8 days quicker move of loans from final approval to funding
Reduced re-work
  • Underwriter provided final approval within 2-touches
  • 77% increase in one touch submission to Underwriting