Case Study: a national lender in South Carolina reduces closing time by 60% with Outsource2india

a national lender in south carolina cuts closing time by 60% with Outsource2india

The customer, a national lender based in South Carolina, faced the challenge of drastically reducing its mortgage transaction closing time from the industry standard of over 40 days to less than ten days. This ambitious growth goal was complicated by the need to optimize costs, scale manpower for massive operations, and overcome a lack of proper process documentation. To address this, the lender partnered with vendor Outsource2india for comprehensive mortgage back-office support and leveraged their MSuite automation tool.

Outsource2india re-engineered the lender's workflow by deploying over 450 FTEs to handle specific mortgage operations, including disclosures, pre-processing, underwriting, closing, and post-closing support. The solution also included technology support and process automation. The results were a 60% improvement in closing time, with 80% of loans closing in just ten days, and a 40% reduction in operational costs. This partnership enabled the national lender to grow its annual funding from $1B to $30B and become a top retail independent mortgage banker.