Loan Origination Productivity
Overview: There are many ways to measure the productivity of the loan origination process. One dimension is the time that is required to complete each step in the process. This information can assist in identifying bottlenecks so situations can be resolved before they become problems.
The Loan Origination Productivity Report calculates and displays the time that was taken to complete each step in your origination process for each loan. The information can then be grouped by a large number of variables (about 24) to assiste in understanding potential problems and their causes.
For example, the report can group loans by loan origination program so you can quickly and easily identify programs that take longer to complete than they should, or steps in origination process for those programs that do not meet your timing standards.
Or information can be grouped by loan officer to see if some are able to close loans faster than others. Maybe the “experts” can give some guidance to those that take longer to close their loans.
The report allows a senior lending officer to easily stay on to of the effeciency of the entire loan origination process so that management iniatives can be implemented where needed. Since time is money, this report provides valuable insight into the origination process.