More than 50% of your Cost-to-Close is labor, so monitoring this metric helps management focus their attention on those activities that are affecting production and dragging down profitability.
The need to be competitive in the mortgage lending business has never been greater. Fortunately, depository lenders have an advantage in this area as their existing customer base is a ready-made prospect database for mortgage lending, if they can tap it. High performance lending and greater profitability comes can be tracked to 5 KPIs.
A highly personalized borrower experience that is fast, simple, transparent and secure across all channels, both online and offline, is a universal want of all borrowers.