Streamlining Underwriting: Efficiency & Quality
Overview.
A Top 25 US bank's mortgage division faced slow approvals due to fragmented processes and outdated practices. Coforge optimized workflow, implemented intelligent work allocation, and improved change management, leading to faster approvals, higher quality loans, and reduced costs.
Challenges.
Fragmented underwriting processes leading to delays. Poor loan tracking causing bottlenecks in approvals. Lack of change management resulting in non-compliance and loan quality issues.
Solution.
Intelligent Work Distribution: High-level tasks assigned to onshore experts, routine tasks offshored.Offshore Work Examples: Basic calculations, document ordering/tracking, review & indexing.Process Reengineering: Streamlined handoffs and communication between departments.Dedicated Underwriting Mailbox: Expedited query handling and faster resolution.Change Management Implementation: Ensured adherence to updated regulations and improved loan quality.
The Impact
Metric Improvement
Underwriting Quality
Increased by 14%
Turnaround Time for Approvals
Reduced
Operating Costs
Reduced by 40%
Bring us your challenge.
Let’s Coforge your next success story.
Your browser does not support the video tag.
WHAT WE DO.
Explore our wide gamut of digital transformation capabilities and our work across industries.
Explore
