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25% faster clear to close, application to underwriting time in less than 1 hour for 1-touch files

The Client

A Leading US Bank originating residential mortgages

Business Challenge

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


  • Fast Track checklist for files submitted to UW -verify 1003 & LOS data
  • Remove hard stops and conditional approval delays due to missing documents
  • 3-tieredapp processing to address missing information
  • Specialists prepared4506T form & ordered VOE and Tax Transcripts


  • 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

Value Delivered

  • 25% faster clear to close
    • 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
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