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Client Need
- The client, a rapidly growing mortgage lender, was challenged by the need to continually recruit and train additional staff for loan processing and underwriting in a tight job market. Client and Zenta worked together to define a rollout plan to take on the client’s loan setup, loan underwriting and document preparation processes.
Zenta Solution
- Create Project Plan.
- US/India team visited the clients operation to document and map lending processes.
- India managers return to hire / train team and establish connectivity.
- Pilot operations began with loan setup process.
- Zenta took over all loan setup began transition of underwriting.
- Zenta has ramped up to manage majority of client’s loan underwriting; Next project is doc drawing.
Results
- The client achieved a significant direct cost reduction of over 40% in loan setup with a greater cost reduction in underwriting.
Client’s business has scaled up from 250-300 loan files per month to 600-700 loan files per month, without significant staff increase in the U.S. workforce by leveraging Zenta’s offshore execution capability.
| Function |
Quality Achievement |
| Bank Reconciliations |
Turn-around time reduced by 60% vs. client capability. |
| New Loan Audit |
0.6% error rate after 2 months vs. client average of 3.0%. |
| Lien Release |
100% compliance with state guidelines vs. 95% industry average. |
| Investor Reporting |
Turn-around time reduced by 35% vs. client capability. |
| ARM Audit |
Significant risk mitigated by auditing greater share of portfolio. |
| Unprocessed Cash |
Reduced identification and processing time by 65%. |
| Tax Line Audit |
1.54% error rate vs. client historical average of 3.0%. |
| Insurance Compliance |
Reduced compliance issues from 18,000 to 1,200 in 60 days. |
| Financial Statements |
Six Sigma quality vs. client internal requirement of Four Sigma. |
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How may we help you ? |
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Contact Us |
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To discuss how we can help your organization, call us at 1-877-77-ZENTA or contact us via email at contact@zenta.com. |
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