Flatworld Solutions offers a gamut of services for small, medium & large organisations.
If your mortgage processing company has ever tried outsourcing, then you would agree that the transition phase is the toughest and most critical, as it involves shifting a process from your in-house team to an external team. The complexities involved, create further transitional challenges when it comes to outsourcing the mortgage loan process.
What is the way out of this problem? The answer is choosing a mortgage processing service provider who adheres to a robust mortgage transition process, nullifying most of the challenges faced, and ensure faultless transition of workload.
At Flatworld Solutions, we can assure you of a seamless mortgage transition process that takes into account, and observes the tiniest details of your existing process. Through the multiple phases of the transition process, we ensure complete monitoring and control. The well-defined goals for each phase in the transition process makes it easy for us to measure and analyze each completed stage, before we move on to the next phase in the mortgage transition process.
The following diagram depicts the various phases of our transition process -
Documentation and Building Up of the Knowledge Base
Process Kick-off and Parallel Operation
Ramp-up and Ongoing Feedback
During the first phase, our team performs an in-depth study of the customer's mortgage process that is currently followed by the in-house team, and identifies ways to transfer the complete process.
After conducting a discussion on the required skill sets, we will set up a pilot team will start learning the customer's mortgage loan process. The required software and systems will also be set up, along with remote login access and VPN, on a case by case basis. At the end of this phase, our team will accurately identify possible challenges in the transition process, and suggest apt solutions to address those.
In the second phase, our pilot team will be ready to commence training on the customer's mortgage process. Video conferences and online meetings will be set up to facilitate remote training, wherein a SME (Subject Matter Expert) from the client's team would provide training to our pilot team. If need be, the pilot team can also be sent onsite.
At this stage, our team will create a mortgage processing checklist, get all their queries answered, and ask for clarification on every minute detail of the process.
The third phase starts with our team creating SOPs and knowledge bases for all the involved processes. This will then be reviewed by the customer for accuracy and completeness. Once we receive feedback from the customer, our team will revise and update the documentation. Next, the implementation of this documentation will commence.
The fourth phase in the mortgage transition process can also called the trial phase, wherein our team will commence work on the project, with a small portion of the total volume of work. The pilot team at Flatworld Solutions will work on a few files as per the complete mortgage loan process that was defined in the documentation phase. To make this phase seamless, we will run the operation smoothly with customer's in-house team for a few weeks to make sure that our team gains a proper understanding of the entire process.
By this phase, our pilot team will gain a thorough understanding of the customer's mortgage loan process, enabling us to ramp-up to full scale operation, and handle the entire volume of work. To ensure the success of the project, we will request the customer to provide us with ongoing feedback. The continuous feedback from the customer will enable us to increase our efficiency and level of quality.
Does your mortgage company wish to leverage benefits like low cost, faster turnaround time and impeccable quality and better operational profits? If yes, then look no further than Flatworld Solutions. With our seamless transition process, you can be assured of zero errors or setbacks, while transferring the workload to us.
Contact us to get the Flatworld advantage and give your mortgage company a competitive edge!
Understanding vendor's mortgage process is important before outsourcing. Take a look at our loan process.
Outsourcing mortgage services to Flatworld Solutions can help you streamline your operations.
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