The Client
Premier mortgage banking institution, founded in 1990, serving all U.S. markets for non-prime residential mortgage loans
The Issues
- Original outsourcing vendor incapable of meeting volume increases; quality suffering
- 25% of loan file images were unreadable / unacceptable; adding to budget overruns
- 24-hour file imaging turnaround jumped to 72 hours, resulting in missed deadlines; added risk
- Existing infrastructure incapable of handling expected volumes, thus impacting revenue forecasts
The Requirements
- Find alternative outsourcing vendor with proven capacity and quality performance standard
- Restore 24-hour file imaging turnaround; improve quality and accuracy of stored images
- Reduce outsourcing costs; improve productivity and in-house / branch staff morale
- Provide direct interface with host loan file tracking system; improve indexing and file access time
The Solution
- SOURCECORP chosen as outsourcing vendor for:
- daily pick-up of loan files from nationwide facilities and branches
- direct data entry services and subsequent uploading to loan tracking system
- additional bar coding and labeling information for scanned files
- image scanning, posting to hosted repository for on-line and near-line access
The Results
- Imaging turnaround time restored to 24-hour mandate
- Overall outsourcing costs cut by 25%; despite significant volume increase
- File indexing functions now outsourced, saving time and allowing for staff redeployments
- Dramatic improvements to image quality; accuracy percentages up to record levels
|