Flatworld Automated Underwriting Processes for a Leading US Residential Lender

Case Study on Automated Underwriting for US-based Residential Lender

The Client

The client is one of the leading residential lenders based in the Texas region of the United State of America.

Client's Requirements

The client was looking for a reliable and cost-effective underwriting service provider who could help them automate the entire underwriting process. They were looking for a partner who could help them to reduce errors and boost underwriting productivity.

Business Challenges

Our team had to face a few challenges while implementing the underwriting automation project for the client. Some of the major challenges we faced were -

  • There were a lot of discrepancies in the form of incorrect income and asset calculation.
  • The client had a huge backlog of loans that required immediate underwriting.
  • The client was facing poor-quality loans and an increase in denials which had to be improved by our team.

Our Solution

Considering the client's requirements and the challenges faced, our team at FWS devised a plan for the client. Our team helped the client by -

  • Extracting and validating the data using MSuite and automating the loan filing indexing processes.
  • Creating a base credit capacity on the existing income calculations and adequately support the property values.
  • Our special guidelines team reviewed every loan file and investigated all the red flag issues.
  • Creating the right questionnaire to verify and validate the data accuracy from the customers.

The Result

The client was highly impressed by the quality of services delivered by our team. Our services helped the client to reduce the amount of information an underwriter had to review and improve the underwriter's productivity by 2X in a period of 3 months. Our services also helped the client to reduce the underwriting turnaround time by almost 40% and also increased the home loan growth. The client was not only delighted to see the quality of the results but also the cost-effectiveness of the project as they were able to reduce their operational costs by 40%.

Outsource Underwriting Support Services to Flatworld Solutions

Flatworld Solutions has been a pioneer in providing the best quality mortgage underwriting services and a series of other mortgage support services to global clients. We have some of the most experienced and skilled underwriting experts on board who can take care of all your requirements with ease. We leverage the latest tools and technologies while delivering the best quality services to clients around the world.

Are you looking for a reliable and efficient underwriting support service provider? Then, you have come to the right place. Get in touch with us today!

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