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Reduction in cycle time from 30 to 16 days by deployment of LoanAccel

The Client

A Leading US Bank originating mortgages


  • Delay in loan approvals
  • Client seeking a strategic partner with banking domain CX experience along with strong technology capabilities to improve CX
  • Absence of robust workflow management tool
  • Real time queue status not available
  • Incomplete review of documents leading to delay in identifying nuances, if any
  • Ineffective feedback mechanism to upstream processes

Solution & Execution

  • LoanAccel - Workflow management tool deployed
  • Process Re-engineering done to improve the cycle time
    • Removal of hard stops and conditional approval for missing documents
    • Created fast track checklist and 3-tiered app processing
    • Dedicated SMEs aligned to work on complex tasks
    • Parallel processing to reduce cycle time
    • Procuring all TPO documents to U/W
    • Review of documentation requirements as per Investor & Bank guidelines and notify LO and U/W
  • Initiated Real-time feedback on deficiencies by Region and MLO

Value Delivered

  • Reduction in cycle time from 30 to 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
  • Improved UW efficiency by 2x
    • Underwriter approvals received within 2-touches
    • 77% increase in single touch decision
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