1 Customer

  • A Top 20 U.S. Bank originating residential mortgages

2 Business Situation

  • High rejection rate of portfolios in the secondary market
  • Increase in “pend” rate at closing stage

3 Solutioning

  • Conducted analysis using proprietary SmartTrans® methodology
  • Discovered underwriter missing out on required conditions
  • Designed and implemented an Underwriting QA process to review loans approved by Underwriters

4 Execution

  • Loan documents reviewed and DTI tolerance and lending guidelines were validated
  • Audit findings were shared with Underwriters and Processors to improve quality

5 Value Delivered

Reduced loan rejections in the secondary market
  • 7% errors were detected prior to closing (up from 5%)
Effective process designed to identify/ coach Underwriters & Processors with higher error rates

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