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Streamlined Loan Underwriting process for a top US Bank to boost Loan Quality by 14%

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Overview.

A Top 25 US Bank's mortgage division saw sluggish loan approvals due to fragmented processes and poor pipeline management, leading to delays and potential quality issues. To improve efficiency and ensure higher quality loans, the bank implemented a solution focused on streamlining handoffs, enhancing loan monitoring, and centralizing communication

Challenges.

  • Fragmented processes across the loan origination cycle
  • Inefficient pipeline management leading to delays
  • Poor loan quality due to inefficient procedures

Solution.

  • Reengineered the loan approval process to improve handoffs between departments.
  • Implemented loan monitoring between conditional and full approvals for better pipeline visibility.
  • Consolidated all underwriting requests and queries into a dedicated mailbox.
  • Introduced change management procedures to ensure compliance with evolving regulations.

The Impact.

Metric IMprovement
Underwriting Quality 14% Increase
Straight Through Processing Achieved
Approval Turnaround Time Reduced
Loan Rework Rate Decreased

 

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