Maximizing Return on Resource (ROR) in Mortgage Lending: Part One
The Challenge of Finite Resources in Loan Origination
Mortgage lending is a cyclical business. During boom periods, mortgage teams are faced with an influx of loan applications, but often with a finite set of trained, experienced resources. These key resources include underwriters, processors, and loan officers who understand the lending process and have the expertise to guide borrowers.
- Cycles are short
- Opportunities are fleeting
If you miss them, you miss out on significant revenue opportunities. Hiring and training new talent during a surge isn't feasible, as everyone in the industry is competing for the same scarce resources.
Why Underwriters Are Your Most Valuable Resource
During high-demand periods, underwriters often become the most constrained resource. Many lenders make difficult choices, such as cutting back on complex loans -- like those from self-employed borrowers. This is a costly sacrifice, as self-employed borrowers tend to be loyal, profitable clients.
Eliminating the Drudgery with IncoSure
The reality of income calculation is that it's 90% drudgery and 10% judgment. Our goal? Eliminate the drudgery so your underwriters can focus on what really matters. IncoSure transforms this process by providing:
- Clear, Consistent Reports: A standardized, easy-to-understand format, similar to an appraisal report.
- Virtual Panel Models: Flexibility to configure credit policy decisions and alternative income scenarios.
The IncoSure Warranty
Mistakes lead to costly loan buybacks. The IncoSure Warranty provides an additional layer of safety, reducing worry about calculation errors and eliminating the back-and-forth between underwriting and secondary market teams.