US Residential Mortgage Services
Client: Leading US Residential Mortgage Lender
A leading US Residential lender with retail, wholesale and correspondent divisions lost 7-8% of profit on secondary condition fees & interest, with 1 deficient loan in every 5 loans sold to the investor.
- Effective Quality Control Mechanism. : Ascendum's post-closing audit solutions resulted in improving the quality of loans to 98.7% accuracy and reduced the average time of loans sold to investor from date of closing to [b]5 days from 21 days[/b].
- Built an audit and communication mechanism with the client which resulted in client's staff to focus only on deficient items.
- Built a performance tracking tool to track performance of processors, underwriters, & closers.
- Built a reporting structure which enabled the client to identify training needs of their staff.
Technology & Methodology
- LOS: Encompass 360
- Proprietary DMS
- Overall cost savings of 25%
- 71% improvement in efficiency
- Quality of loans delivered to secondary market increased dramatically
“Ascendum operates as a timely, efficient and very accommodating business partner that adds value to any project. By outsourcing to them I was able to cut production time in half and end up with a far superior result. From small projects to very large projects, Ascendum has proven a trusted and valuable business partner time and again.”
Leading US Residential Mortgage Lender, VP Operations,
Leading US Residential Mortgage Lender