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Leading US Residential Lender Leveraged Msuite - O2I's Automated Solution to Significantly Reduce Loan Closing Time

Case Study on Reduction in Closing Time Achieved for a Leading US Residential Lender

The Client

The client is one of the top 30 US residential lenders.

Client's Requirement

The client wanted to improve its data collection and data validation processes and reduce the loan closing time.

Client's Challenges

This project faced many challenges, including -

  • The slow document collection process
  • The tedious data validation process
  • Non-standardized processes
  • Reworks due to errors
  • Bad borrower experience
  • Large turnaround time
  • Inability to scale-up to meet spikes in volumes

O2I's Solution

We provided a solution that helped the client to -

  • Automate the document collection process by using our proprietary tool, MSuite
  • Automate the data extraction and validation process using OCR
  • Standardize the various processes with minimum submission checklists
  • Introduce in-depth process maps with relevant standard operating procedures (SOPs)

We also created a robust QC plan that functioned independently of the origination and servicing functions.

The Result

With our high-quality solution, the client was able to achieve -

  • 98% reduction in errors that were previously caused by human intervention
  • Reduction in total processing time from 10 to 4 days
  • 50% increase in its application approvals
  • 40% reduction in operational costs

The client is very pleased with our services and we now support about 80% of the client's total back office requirements related to the full range of loan origination requirements.

Outsource Mortgage Services to Outsource2india

Outsource2india is a top provider of a full spectrum of mortgage services to a global clientele. We have 21 years of experience in providing comprehensive and in-depth mortgage support services, including pre-processing support, mortgage closing support, processing support, and mortgage post-closing support services, among others. We have significant experience and expertise in training our executives to provide a wide range of back-office operations that helps clients reduce costs and increase productivity.

If you are looking for a reliable, professional, and cost-effective provider of mortgage services, get in touch with us today.

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Have specific requirements? Email us at: mortgage.info@outsource2india.com

Our Clients

  • Alcon
    ARI
    Maximus
  • Redwood E-Learning Systems
    Yale School of Management
    Medversant
  • Loomis
    Data Infinity
    Auto MiddleEast
  • Camnet
    DMagazine
    Doctech.net
  • Eraid
    Userlytics
    Financial Planning Association of Australia
  • International Career Institute
    Carole Holding
    Crunch
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Customer Testimonial

I have worked with Rajeev and his team at Outsource2india for the last 3 ½ years. I have been continually impressed by the level of professionalism and integrity of the O2I team has provided. We are looking forward to many more years of partnership with this great company. Senior Vice President,
Fast Growing Mortgage Company

Get a FREE QUOTE!

Decide in 24 hours whether outsourcing will work for you.

We respect your privacy. Our Policy.

Have specific requirements? Email us at: mortgage.info@outsource2india.com

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