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The challenge:
Our client is a specialist
mortgage lender in the US mortgage market
since 1988, with branches in major cities.
He was having several offices and a team
of Sales people apart from business partners.
He has funded loans in several hundred million
till now.
In recent years, due
to boom in real estate client has expanded
its loan-servicing portfolio 10-fold and
is one of the leading residential and commercial
mortgage financial solutions providers in
the United States.
For client, keeping track
of all leads and closing them was a tough
task.
Maintaining its momentum
in growth is an ever-growing challenge for
client who needs to provide applications
in a timely and cost-effective manner, and
in a form that is easily accessible to all
employees and customers.
Another challenge was
to handle queries from potential customers
looking for information about mortgage rates,
debt consolidation and mortgage refinancing.
Tracking those queries to make sure customer
service representatives talk to most was
very difficult.
In their manual system
it was not always possible to follow up
immediately on a matter, as there was no
automated way to trigger a next step. Also
the process of recording detailed history,
as the application is progressing, needed
to be standardized and improved.
It was a tough and time
bound challenge for ADCC’ as they have to
thoroughly understand the Mortgage industry
in US and make it automated as per clients
requirement.
Client says:
"Dealing with a mortgage
application usually takes between 6 days
and 6 weeks depending on its complexity,"
explains Client. "The number of tasks and
the number of parties involved in an application
can be quite high."
"We wanted to improve
the efficiency and add value to the process,"
says Client. "We wanted to make mortgage
applications available on-line to our branches,
analysts, commercial team and selected business
partners."
"Another area that could
use improvement was our sales analysis.
Our commercial team did not really have
the tools to investigate trends and analyze
the performance of the sales team and business
partners."
Solution:
ADCC’s Mortgage Web solution
was ideal because it allows easy access
to all US Mortgage Industry requirements
and a user friendly interface.
ADCC implemented a Web
based Mortgage solution that offers real-time
automated mortgage application tracking,
Refinance, Calculators as well as comprehensive
sales performance management tools. The
solution allows client to easily share information
between its branches, analysts, commercial
team and selected business partners.
The Web mortgage application
tracking system was implemented first. The
mortgage application tracking system allows
not only for inquiry, but also for detailed
recording of steps as the application progresses.
Internal staff and selected partners access
the system using a browser over in Intranet
and business partners through automatic
mail.
Our quality of service for mortgage application
processing has improved significantly, as
the status of the file is available to all
concerned parties. Moreover electronic alerts
have shortened the average lead-time.
ADCC then implemented
a Mortgage solution that allows its commercial
team to analyze who are the most profitable
partners in each segment of activity and
to measure the performance of both the internal
and external sales networks.
Client says: "The
Web solution has increased our competitive
advantage through better quality of service
and transparency to our business partners."
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