Each year, our operations teams seek to improve processes to help our funders, processors, underwriters and loan officers close more loans. That’s not only good for business, but great for customers. For 2018, Production Operations’ primary focus will be on efficiency.
We are currently analyzing every activity that occurs during the loan origination process, as well as examining the processes used by some of our more efficient field units. This analysis will help us identify best practices as well as areas for improvement. There are many people that touch a loan during origination, including loan officer, loan officer assistant, transaction coordinator, loan processor, processing assistant and more. We are asking ourselves which team configuration yields the best results in terms of the number of loans closed per employee and cost per loan? Answering that question will put us in the right direction for improvement.
We’ll also analyze the different practices and procedures in underwriting and funding in various regional fulfillment centers. Are there tasks that we can do differently? Are there products on the market that might improve our efficiency in a certain area? We’re looking forward to the new year and to improving processes by leaps and bounds!
If you want to learn more about how our different teams come together for efficiency, check out the videos section of The Guild Way.