The Client
The Mortgage origination division of Top 25 US Bank
Challenge
- Multiple challenges in Loan Underwriting
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- Fragmented processes in origination cycle
- Poor Pipeline management
- Poor quality of loans
Solution
- Reengineered fulfilment process to streamline handoffs/ with different departments
- Monitoring of loans between Conditional Approval and Full Approval to enhance pipeline management
Execution
- All underwriting request/ queries consolidated to a dedicated mail box
- Implemented change management procedures to help adhere to changing regulations
Value Delivered
- 14% improvement in underwriting quality after implementation
- Improved straight through processing achieved
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- Reduced turn time for underwriting approval
- Reduction in re-work
