Our 3 Steps Help Mortgage Departments Reduce Closing Time

Drastically improve your loan approval process, increase productivity & reduce closing time.

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How long does it take your mortgage department to close a loan from application?

Are you looking to improve your loan approval process and shorten the time it takes to close a loan?

Here at Transformation Mortgage Solutions, we specialize in helping mortgage departments for banks, credit unions, brokers and independent mortgage institutions improve their loan approval processes and become more operationally efficient.

Our goal is to reduce the time it takes your mortgage department to close a loan, and in turn increase your profit.

It takes the average mortgage department 42 days for a loan to close from application. A lot of our clients come to us finishing in 50, 60, or even 75 days and with help from Transformational Mortgage Solutions they are able to shorten closing time by 20 days or more. 

We’ve put together a 3 Step Process to help mortgage departments improve their loan origination processes.

1

Step One

Review all your existing procedures end-to-end.
Create or review your existing workflow process map.
Each dept. meets to review current workflow.
Identify inconsistencies or variations and discuss why.

2

Step Two

What would you like your timeframes to be?
List out what keeps staff from achieving those timeframes.
Negotiate Service Level Promises (SLP’s).
Map out how to achieve SLP’s.

3

Step Three

Rewrite your procedures step-by-step to reflect SLP’s.
Create a new workflow process map.
Imbed written procedures & “how-to” videos in each process box.
Meet monthly to review.

We don’t tell you how to do your business – We tell you best practices and compliance concerns.

The quality of loan originations stem from the in-house processes that have been set in place within a mortgage department. To improve your efficiency, you must improve your processes. Well documented and controlled processes and procedures teamed with good leadership can aid in mitigating significant loss in efficiency.

TMS consultants have experience with various mortgage departments nationwide. Our outside perspective can shine light on where in your loan approval process you are losing productivity and what your mortgage team can do to improve turn-around.

Problems can be anywhere from the loan officers to the underwriter to the technology. We will go in and find out what’s going on, listen to your employees, map out the current process, show you where your bottlenecks are, and together we work out a solution to be more efficient.

We stay positive & help you motivate your staff to get on board.

The hardest part of implementing the loan approval process is successfully handling change management with the staff. The number 1 resistance to improving turn-around time is getting the staff all on the same page. That’s where TMS comes in again – positive, motivating, we’re all working together to create the optimal mortgage process.