The typing behind every loan
Whatever the product, every loan file goes through the same handling: reading the borrower's documents and entering the figures, checking documents against conditions, re-keying what title and the appraiser send back, and chasing paperwork after closing. None of it needs a loan officer's judgment, and all of it repeats on every loan.
These are the shape of a typical small lender, not a named client. The hours are what a team with a handful of loan officers and processors usually gets back.
1. Reading income and asset documents
Bank statements and pay stubs
About 6 hours a week back
Before
For every file, a processor reads two months of bank statements, pay stubs and award letters, works out the income and asset figures, and types them into the loan system.
After
Statements and stubs are read as they arrive. Balances, deposits and income are pulled into the loan system for the processor to check, with large or unusual deposits flagged for explanation.
2. Getting the file ready for underwriting
Stacking the file for underwriting
About 5 hours a week back
Before
Before a file goes to underwriting, a processor checks every document against the conditions list, finds what is missing, and puts the rest in the order the underwriter expects.
After
Documents are matched to conditions as they arrive. The file is assembled in underwriting order, and the processor gets a short list of what is still missing or expired.
3. Entering third-party reports
Title, appraisal and flood reports
About 3 hours a week back
Before
When the title commitment, appraisal and flood certificate come back, someone reads each one and re-keys the value, vesting, legal description and flood zone into the loan system.
After
The details are read from each report and entered into the loan system for a quick check. Differences from what is already on file, like a name that does not match, are flagged.
4. Chasing trailing documents
Post-closing trailing documents
About 4 hours a week back
Before
After closing, staff track which loans are still waiting on the recorded mortgage and final title policy, check county and title company sites, and send each one to the investor when it arrives.
After
Every closed loan's trailing documents are tracked. Each one is matched to its loan as it comes in and sent on, and staff see one list of what is still outstanding and how long it has been.
What it adds up to
Together that is about 18 hours a week. At an illustrative fully loaded cost of $45,000 a year for one person, it is roughly $20,000 a year of your team's time, spent with borrowers and referral partners instead. Each one works with the loan system and email you already use, borrower documents stay in your systems, and a processor checks every figure before it is relied on.
Fixed price, running in days
Most of these land in the single-task band, $7,500 to $25,000, with the first deliverable running in your operation within 14 days. A simpler version can be a quick task, from $2,500, running within 7 days. Either way the price is fixed before work starts, and the clock starts when we have access and sample data.
You do not need to automate all four. Pick the one that takes your team the most hours. The evaluation is free, and if a task is not worth automating, we say so.