The Client
Top 25 U.S. Lender by mortgage origination volume
Challenge
- Multiple challenges in loan closing
- Customer dissatisfaction issues due to
- Approved HUD not being sent to funding in time
- ‘Rush’ closings missing deadlines
Solution
- Coforge used its SmarTrans® framework to streamline the customer’s origination lifecycle
- Analyzed reasons for files being ‘pended’ and fixed upstream processes
Execution
- Redesigned capacity plan with staggered shifts matched to inflow of loans
- Pre-assigned all files 52 hours prior to closing
- Proactive capacity planning & management by monitoring the closing pipeline
Value Delivered
- Improved customer satisfaction from meeting deadlines
- 50% of the loans processed 24 hours before closing time
- More than 80% of ‘rush’ orders turned around within 2 hours
- Average time for “Loan assigned for closing” to “HUD approved” reduced by 25%
