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Read this case study to find out how Flatworld Solutions helped a residential mortgage lender close loans on time, reduce the closing period by 30-50%, and efficiently manage twice the increase in loan volume.
A renowned and rapidly expanding residential mortgage lender approached us for mortgage services. This customer is licensed in over 50 states in the United States of America, with more than 80 offices and mortgage lending partners spread across the nation, and enjoyed considerable popularity among other residential mortgage lenders in the U.S.
Our customer, a famous lender among other home mortgage lenders in the United States, approached Flatworld Solutions at a time when they were unable to process loans on time, due to a long closing period of 2 to 3 months. To add to their worries, the interest rate had dropped, leading to an increase in the volume of loan applications, thereby making it difficult for their in-house operations to handle the excess workload.
The primary challenges faced by the customer were as follows:
The mortgage services team at Flatworld Solutions first conducted an in-depth study of the home mortgage lenders' current operational structure, and documented each process. The thorough documentation was done, to ensure that our in-house as well as offshore team of mortgage experts learn, and follow the same processes and systems that are followed by the customer.
Next, our transition team identified inefficiencies in the processing, and suggested appropriate solutions for each problem. With the final approval of the customer, we then implemented the following solutions, which helped our customer immediately shorten their loan processing and closing turnaround time:
With the help of our winning solution, the customer was able to quickly process and close loans. This resulted in satisfied Borrowers and Loan Officers. With the team at Flatworld Solutions now handling loan processing, the customer's management team was finally able to focus on growing business, instead of worrying about operational challenges. By partnering with us for mortgage services, our customer was able to leverage the following benefits:
Did you like reading this mortgage services case study? Is your mortgage company facing a similar problem? If yes, do get in touch with us for customized mortgage loan processing services, specially designed to meet the needs of home mortgage lenders.
Our fast turnaround time, low cost services and skilled resources will leave you impressed. Contact us today for highly efficient mortgage services, and get the Flatworld advantage!
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